There are a number of ways to implement a cash back promotion for your brand. Lower value items benefit from this in the form of a money back guarantee, money back challenge or a try me free promotion. Other cash back promotions offer a monetary amount as a reward after purchase, this usually being in the form of a bank transfer or cheque.
How it Works.
With higher ticket items you can either offer reliability guarantee, to encourage that purchase or just simply look to offer a fixed cash back percentage, following purchase. The customer purchases the product and then follows the required steps in order to claim the cash back value offered. Cash backs are also directly linked to the product being outside of the returns period when the claim is made, helping you to ensure that returns are reduced within your business.
Try Me Free.
Trying is most certainly buying, and it couldn’t be more easy with a try me free promotion. A proven way to engage new customers whilst rewarding existing ones at the same time. Customers purchase your product, try it, then send off their details along with their receipt to claim a refund on the purchase price paid plus a little extra for postage. Simple but effective!
There are many adaptions available on this promotional technique, depending on budget, such as digital uploads and entry via Facebook, as opposed to the more traditional postage method.
Money Back Guarantee.
Be bold and put your money where your mouth is with a money back guarantee promotion. Nothing shows faith and commitment to your product like offering a refund to customers who aren’t 100% satisfied. A strong, clear message to engage new target customers to try your product, or customers who have switched to a competitor to come back!
To participate, customers purchase your product, try it and if dissatisfied, write a short statement explaining why. They then send this off along with their receipt to claim a refund on the purchase price paid plus a little extra for postage. Depending on your budget, customer base and brand, there are a range of entry methods from traditional post to digital upload or even entry via Facebook. We can make it work really well for you!
High Ticket Items.
By offering cash back on high ticket items, the customer automatically reduces the price by that amount in their head, they then compare this price to competitors and make their buying decision based on this. You benefit from not having to discount the product or devaluing your brand but have the upside of a good perceived value from the customer.
A proven successful promotional method with electrical items such as mobile phones, laptops or televisions and now also pushing into the white goods and furniture markets.