Cashback promotions are very effective for brands to achieve their short and long-term goals and objectives. They’re a great tool to initiate consumer call to action, thus generating brand interaction from potential and existing consumers. Brands can use Cashback campaigns to create awareness and differentiation, increase market share, improve sales, increase brand loyalty, and acquire new consumers. However, non-competent execution of cash back promotions especially run in traditional offline retailers can be fairly time consuming, inefficient and costly due to dedicated packaging and barcode needs, promotional material investments, retailer fees and agency costs.
By moving your Cashback promotions to a digital platform you can enhance the benefits whilst also reducing the expenses and time consumption with the help of automation and digitising.
Benefits of Cashback Promotions And Digitising Them
Acquiring New Consumers
Cashback promotions can help brands create consumer awareness and brand differentiation leading the consumer to purchase their product. It is also a very convincing tool to attract interest of the potential consumers, initiate brand trial opportunities and successfully lead to an increase in the brand’s market share.
- Consumers are 75.4% more likely to buy when offered Cashback
- 80% of consumers would switch brands to take advantage of a compelling Cashback offer
Improving Brand Loyalty
Cashback promotions can also help brands secure their existing consumers. Especially in the FMCG sector, the demand for products is fairly elastic due to the high number of competitors and low level of differentiation. This creates a difficult environment for brands to create loyalty within their existing consumer base. Using Cashback campaigns can be very effective for brands to retain their consumers.
- 26% of consumers tend to remain loyal to a brand that offers Cashback
Uplift in Sales
Cashback promotions are a great way to create an uplift in sales. CTA (Call to action) based communication is a key method that brands can use in order to boost their sales. Cashback promotions can be used as a call to action promotion tool because of its power to drive the consumer towards action due to the additional value it creates for them.
- Cashback promotions generate an average uplift in sales by 35%
Quick Set Up & Easy Integration
Digitised activations are much quicker to set up and execute after the planning and creation stages. This creates a massive advantage to a brand in terms of time efficiency. Brands also have significant cost benefits as they have to work with fewer parties, skip a number of design and production stages and have better control of fraud with digital promotion setups. They are also much easier to integrate into internal platforms and tools (i.e. CRM tools).
Scalability
Executing Cashback promotions through a digitised platform can help a brand target a much larger scale of audience, compared to any offline solution. Seamless scalability with significant cost efficiency would create a huge advantage for any brand. Consumers are also more likely to participate in an online Cashback campaign compared to an offline one, due to much simplified user experience (UX).
Where Justsnap Creates Added Value
Justsnap provides brands with white label campaign solutions for practically any consumer touchpoint; i.e. under the brand’s domain, facebook page, whatsapp channel, via. an application. Our proprietary receipt processing technology lies in the center of the operation providing all automatic digital validation of purchases. It also creates further benefit in terms of;
Collecting Personal & Behavioural Data
We offer brands unique and highly valuable consumer personal and behavioural data and the whole process is in compliance with GDPR laws.
The brand gets to retain all of the data that gets collected and processed from the consumers’ receipts and the accompanying registration process. .
Targeting & Retargeting
With the personal and behavioural data provided through your Justsnap campaign, you can create persona-based targeting and retargeting activations for selected segments.
Retailer Independence
The campaigns we set up are based on digitally processing consumers’ receipts, which means that there will be no need for the brand to initiate agreements with any retailer and to integrate to their POS systems to execute the promotion. Retailer independence reduces retailer based costs for the brand. This also allows the campaign to take place in any retail store within the region / country. That’s what we call “Retailer Independent Campaign Mechanism.”
Accurately Calculable ROI
With the digital processes and all the data collected during the campaign, brands can calculate their campaign ROI much more accurately with Justsnap’s solutions.
