The Benefits of Rebate Marketing
Rebate marketing helps businesses increase conversion rates using rewards in place of discounts, motivating customers to buy while keeping market rate firm. Rebates come after the sale — for the percentage of customers that follow through. In today’s marketplace, rebate marketing is excellent for keeping customers engaged.
The Advantages of Rebates
Regardless of your product, service, market or industry, rebates can push more customers into engaging with your business. Top advantages include:
- Valuable sales incentives: The right rebate marketing strategy creates valuable customer incentives through purchasing rewards. Discounts (and even instant rebates) take savings off the top, reducing the list price. Reductions in list price can affect customer perception of market value, impacting their willingness to pay full rate. With digital rebate marketing, customers get their savings in the form of a gift — a thank-you for making a purchase.
- Affordable marketing strategies: Digital rebate marketing strategies are paperless, managed with the aid of customized software. Save on the costs of rebate forms, postage fees and the labor expenses for processing large volumes of sealed envelopes. Digital rebate marketing relies on paperless customer input, streamlining the rebate process on both sides. Customers will appreciate the simple experience, helping you gain loyal followers for your brand.
- Effective digital tools: Rebate marketing is effective. Customers like saving money — what better way to incentive them than a tax-free gift for buying something they already wanted? Rebates are proven to be advantageous for moving products, boosting visibility and developing brand loyalty. If you’re selling to retailers, keep your inventory moving. In B2B applications, rebates can attract new buyers, convincing them to try your product and incentivizing current accounts to increase their orders.
- Better customer data: Rebates create the perfect opportunity for gathering invaluable customer data. Collect useful information such as social media behavior, browsing habits, demographics and much more. Use this information to create targeted ad campaigns and tailor brand identity for best connecting with the customer base. Better data collection is one of the biggest advantages you can gain from rebate marketing.
Tips for Running a Successful Rebate Campaign
If you’re thinking about running a rebate marketing campaign, ensure that it has all the advantages for achieving success. The best campaigns create high perceived value, keep profits high and result in positive customer experiences. To help boost your marketing campaign:
- Make redemption easy: A complicated process will undermine customer confidence and lessen the impact of the offer. Make it easy to take advantage of your offer to build trust and gain fans.
- Give customers time: If your customers feel rushed, it can affect their willingness to participate. Design your campaign to give customers a reasonable amount of time to take advantage of your offer.
- Create fantastic incentives: You want customers to take advantage of the rebate — that’s why you offer it. Make sure your rebates have enough value for customers to justify their time and effort in claiming their reward.
Take Advantage of the Benefits of Rebate Marketing
At Incentive Insights, we help businesses sell more, gain more exposure and build better customer relationships with tailored programs. Deliver a rebate program in step with your company. We design customer portals with a range of customizable options, helping companies take full advantage of the range of benefits rebates offer. See what we can do for you by getting a free offer setup or calling (914) 229-9490 today.