It’s a known fact that achieving sales in your business is essential for growth. Well, you can uplift your sales volume with cashback business integration. The concept that you can get a monetary reward when you make a purchase you were planning to make, is what everyone wishes for.
How did the cashback system evolve?
The notion of cashback programs was first launched in 1986, when credit card companies started offering percentage-based rewards, in order to lure new customers to sign up for cards. These deals greatly impressed US consumers and have persisted ever since.
Blockchain and its usefulness as a technology typically go hand in hand with transparency. All thanks to the delegation and lower costs on average for all parties involved. Blockchain gives you a level-playing field since you can reduce the total number of middlemen involved in transactions.
What’s the importance of cashback model?
The cashback model has rapidly become a vital role in all kinds of businesses. As shown by independent analyses, there are mainly six reasons why the cashback model is important.
- The cashback model has a $84 billion valuation in the industry
- Cashback models generates an annual revenue of $4.5 million
- Integrating the cashback model into businesses tends to encourage the placing of high-value orders
- The cashback model helps to create repeat customers and improves loyalty. It creates a win-win situation for all stakeholders involved
- It allows you to set up cashback discounts for multiple companies at the same time
Integrating the cashback model to your business is potentially a way of engaging with consumers. It increases your user engagement, business sales, and raises your brand reputation. With the cashback model integrated into your business, you can check and validate receipts so that your customers receive repayments or a voucher on future purchases. This enables you to remarket new products and boost your sales.
What are the benefits of cashback integration?
How does cashback integration help your business to grow? Let’s unpack the benefits of integrating the cashback system for your business.
- Boost Your Sales
Integrating cashback model to your business enables marketing campaigns to effectively promote a new product which, in turn, results in a higher ROI. Cashback integration also enables direct customer engagement and a greater understanding of your target population. With the cashback model, you will be able to comprehensively define, execute and manage a cashback campaign, which serves as a tool for successful campaigns.
2. Grab Customer Attention
The cashback sector is a unique one among the marketplace. Cashback is a strategy to instantly attract customer attention with a financial reward. Cashback, coupons, offers, and deals are highly motivating for customers who seek additional discounts and deals added to their shopping experiences.
3. Long-Lasting Brand Reputation
The key success to your business is brand reputation. You increase your brand reputation when you develop a unique position in the marketplace. Increasing your business’ income and sales conversion helps to attain greater recognition for your brand. And the most important thing is to stay ahead of your competitors and stand out from the crowd. By offering a sort of gift, benefit, or reward, you will create more possibilities for meaningful client interactions.
4. Remarket Your Business
Gaining a new user is valuable but at the same time, it’s time-consuming and costly. Remarketing your business through existing users helps to reinforce brand recognition. The research shows that existing customers are much more valuable than new prospects. In fact, loyalty statistics proves that the probability of selling a product to a new customer stays at a low 5-20%. 75% of businesses say that closing more deals is their topmost sales priority. For instance, if you have your own Cryptocurrency Exchange website, integrating the cashback business model can steadily increase and maintain your business revenue.
5. Increase Customer Loyalty
Set up both physical and digital loyalty and rewards programmes to drum up a new business and keep existing customers coming back. For instance, when one switches from current cryptocurrency service provider to yours, you could reward that customer with up to $150 cashback depending on the number of purchases or actions taken on your platform. You can also give referrals and create an “earn” feature, i.e. scale up in very short time by awarding referral joining bonus. This enables the start of co-marketing opportunities that greatly enhance your brand.
6. Connect With Customers and Enjoy Mobility
Integrating the cashback model to your business lets you collect customer feedback and understand your customers’ preferences and habits. Cashback is what transforms the desire to make a purchase into a completed action that benefits both parties. This results in website and mobile traffic growth, and enables you to get more business right where you stand.
What’s the role of Sessia?
The first-ever cashback system built on blockchain technology, Sessia is a new-generation social network which enables customers to purchase goods and services based on their friends’ recommendations while being rewarded with cryptocurrency cashbacks anywhere in the world.
The Sessia wallet holds all of your tokens known as KICKs, which are earned through referrals and cashback bonuses. These tokens can be converted to another cryptocurrency or fiat instantly after receiving them. Or they can be used to make purchases in the future without ever having to convert them to fiat. Sessia allows users full control over their rewards.
With Sessia, your feed helps connect your friends and followers to new brands through both your purchase and your comment on that purchase. If a friend buys a product or a service using your post, they’ll obtain cashback while you will get a kickback from their purchase.
At the end of the day, everyone wants to be rewarded. The important thing to bear in mind while integrating the cashback system to your business is not to lack in transparency. In terms of improving cashback reward systems, blockchain solutions are an important step in the ever-evolving process that ends with genuine interactions between customers and shops with the highest rewards possible.
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