Understanding the Benefits of CashBack
The beauty of CashBack is it equally benefits the brand and customer. Not only does the brand reward and empower customers, but with CashBack brands gain:
Full Price Sales
Instead of losing 10, 15 or even 20% of revenue from a discount code immediately after purchase, retain the revenue. Keep 100% of what the shopper pays today and kill discount codes from the jump.
Increased Conversion Rates
Conversion rates for brands improve by 8.7% on average when they make the switch from traditional discounting to CashBack. Lower customer acquisition costs and get more value from the prospective customers you’re already attracting.
Increased AOV (Average Order Value)
When customers shop with CashBack, AOV increases by over 13%. When shoppers are incentivized and empowered by CashBack, they thank brands by buying again (and again!).
What you used to give away up front in discount codes turns into an incentive for shoppers to return to your store. By switching to CashBack, customers are given an immediate reason to return and shop.
Once the habit of discounting is introduced, customers will only be as faithful as your latest coupon code. Show customers you care about them individually by offering CashBack options. They’ll return the love with repeat purchases. Much less vicious of a cycle than serial couponing, right?