Rebate programs have been around for a long time now—so long, in fact, that many companies disregard them, assuming rebates to be old-fashioned and ineffective. In reality, though, rebate programs are not only effective, but they have evolved with the times, and can be integrated seamlessly into an existing digital marketing strategy.
Indeed, statistics prove over and over again that rebate programs work; for example, a Deloitte study finds that 61 percent of back-to-school shoppers say that rebate programs influence their purchasing decisions. In this post, we’ll consider four big-picture reasons why your business should adopt a consumer rebate program.
Rebate Programs Can Be Technologically Robust
Your experience with rebate programs may be confined to the old mail-in rebates—and there’s nothing wrong with that! In today’s tech-infused world, though, there are a number of other ways in which rebate programs can work.
Just consider how many consumers interact with their favorite brands online—whether via social media, an email marketing campaign, or online review sites. Digital rebate offers provide a way to deliver immediate value to those customers; to engage them where they already are (online); and to appeal to captive audiences who are already viewing your online content.
What’s more, online rebate programs come with a number of auxiliary benefits. These include the ability to gather consumer data—for example, email addresses and other contact information, shared as a way to opt in to the rebate program. (Mail-in rebate programs can collect this information, too, to be fair.) Using this data, you can better tailor your digital marketing efforts to address the specific needs of your target audience.
Rebate Programs Offer Immediate Rewards
Indeed, the advent of digital technology has actually made rebate programs more relevant and appealing to consumers, not less so. That’s because you no longer have to wait by your mailbox for those rebate rewards to arrive. Today, when you redeem a rebate offer, you can reap the reward right away from the comfort of your computer or mobile device via a virtual rebate card—something that shoppers love.
The bottom line: Today’s tech-savvy consumers want perks and benefits now—and a digital rebate program can deliver them. Indeed, digital rebate programs allow customers to have their information processed quickly, and virtual rebate cards approved with relative speed.
Your Rebate Program Can Deliver a Smooth Experience
Another big perk to rebates in the digital age: They offer a seamless and simple experience, not just for you but also for your customer.
Consider this scenario. When you issue a digital rebate, you get a digital record that’s used to facilitate data harvesting and protect you against fraud. Not only that, but the digital record reduces the need for physical evidence documentation.
Taking advantage of a digital rebate is easy—and it enhances the positive experience that customers have with your brand.
Rebates Come with Focused Integration Options
Finally, companies that employ digital rebate programs have ample opportunity to link their rebate offerings to other programs—including VIP customer programs. This goes back to what we were saying earlier about creating a smooth, streamlined experience. Online rebates allow customers to have a more effortless experience with your brand, and your company, in turn, is better equipped to provide a great, valuable experience across the board.
These are just some of the reasons why more and more companies are choosing to enact digital rebate programs—but as you consider these benefits, also make sure you understand that not all rebate programs are created equal. To develop a robust and effective rebate program for your company, it’s important to work with a qualified partner—a partner like Incentive Insights.
Rebate Programs from Incentive Insights
Incentive Insights serves as your third-party ally in the rebate process, helping you to strategically executive a rebate program that’s data-driven, carefully monitored, and aligned with your overall sales and marketing goals.
Our team uses the power of data collection to create strong sales incentive programs, strengthening existing sales channels and bolstering customer relationships. We provide thorough data analysis and reporting, ensuring that your rebate program is both well-considered and also ultimately effective.
We have the resources of a large data firm but we also take pride in our boutique approach. We get to know the specific needs and goals of each client, and design rebate programs with those in mind. What’s more, we can assist with all aspects of your rebate program, from the planning to the execution and then finally the reporting.
A rebate program can be advantageous to your company in more ways than one—so if you’ve been thinking that it’s an antiquated idea, we’d encourage you to reconsider. Learn more about the benefits of a digital rebate program, and about the perks of working with a third-party partner. Contact our team at Incentive Insights to discuss your company’s needs.