What Makes a rebate program profitable

BY Lucy Fang
Jul 31, 2020
What Makes a rebate program profitable

Rebates are a great way of drawing in consumers and gives them a helpful way to save money through digital rebates, future credits, and different types of savings incentives. However, without the correct technology in place, rebate redemption becomes a challenge due to the elaborate process for your customers, and also for your employees. For maximum profitability get the right implementation, technology, and support, which will make your rebates an advantageous marketing tactic. Here are several of the factors that contribute to rebate program profitability.

Federal Trade Commission Guidelines

Rebate promotions companies will tell you that there are several legal guidelines and best practices for rebate programs. It is important to research before you start your rebate program and verify that you don’t revise the program rules after they’ve been published. The less confusing it is for your rebate program participants, the more they will like your program and recommend your organization to their friends. Make sure to utilize clear headings that your customers will comprehend. A lot of the data you require for your program can be found in the Federal Trade Commission Guidelines. Nonetheless, remember that one of the most basic issues in your rebate program is the reaction time. The Federal Trade Commission suggests a 30 days turnaround time, but your participants will want a lot quicker response — 30 days is too long a period to have them waiting.

Online Rebate Processing

Online redemption is quicker, easier, and more convenient for your rebate program participants and employees. Having your rebates and redemptions online will allow you to gather extra sales due to the fact that customers will be receiving their pay off in a well-timed manner, which is a major priority for customers.

Develop Rebate Programs To Drive Engagement

A Rebate program will draw in customers without much difficulty. However, many marketers don’t fully understand how to leverage the effectiveness of these programs. The channel, message, and pin some cases, even the colors used, are driving factors that can help to boost engagement.

Rebate Management System Technology

Once, absolutely everyone had to use snail mail to redeem rebates, but that’s no longer the case. Now, thanks to rebate management system technology available through rebate promotion providers, rebate redemption can be completed online quite painlessly. Additionally, your company can leverage social media to have your clients share about your rebates on their various social networks! Experimenting with styles, unique techniques, and software program will assist your company in building a brand that no one can forget.

Use Rebate Management Technology With Real-Time Reporting & Analytics

Reporting and analytics are some of the most important concepts in the rebate promotion process. Rebate incentive companies can provide the technology to allow you to track your customers and see patterns and participation levels through the use of quality rebate management technology. It is essential for brands to look at and critically analyze how their customers are responding to their efforts.

At All Digital Rewards, we have the rebate program technology and knowledge to help you build a rebate program that will be profitable and fit your brand’s needs. For more information, call us at 866-415-7703 or click below to schedule a demo.