//Why Some Businesses Use A Rebate Strategy

Why Some Businesses Use A Rebate Strategy

rebatesBusinesses are often looking for various ways to gain an advantage over the competition. When people want to gain an advantage over the competitors, they will usually come up with creative and innovative things to promote their products and services.

Making money in a business can be difficult because that is the same thing everyone else wants to do. Everybody wants to perform at their highest level because of the tough competition. For many businesses, they have to bring in experts, training, and custom solutions that will give them a chance to be effective.

Rebate processing programs will give your business a new commission. You can begin my advertising or marketing some of your products and services, either on the internet or through other methods, and then you will refund them on those products. Check out our rebate fulfillment center.

You should choose the rebate strategy because it will give you the flexibility you need in order to keep up with the changing environment. When you offer rebates to your customers, you are offering them benefits without exactly giving in to a lower price until one of your competitors lowers their prices.

When you use a rebate strategy, you will have more time to gather more information about where the competitors’ money is going. When you have more time to wait, you will be able to create a better strategy and enjoy all the benefits of the savings you obtained.

When you offer rebates to your customers, you can effectively lower the amount they will have to pay to you, and they will not even have to call you to ask about it. If you have a rebate strategy that is not working, or you do not understand how you should create a rebate strategy, you should strongly consider outsourcing your strategy. That is good customer service.

Did you enjoy this article?

You can learn more about rebates, payroll, and other payment services by following our other great posts. Or, if you want to learn how the team at CheckIssuing can help your small business outsource payroll or other payment needs, just contact us at

 

Understanding Cash Rebates

 

Cash rebates are discounts on things that you are purchasing. However, a lot of times you must jump through a few hoops in order to take advantage of the offer. Know exactly what you are getting into when you are purchasing an item with a rebate. Many of them are different so be sure to pay close attention. Fun fact: They are totally worth it!

 

Mail-In Rebate

Mail-in cash rebates are by far the most common. You will pay full price for the product at the time of purchase. Either the mail-in rebate directions will be attached to the item or you will receive a form that you will mail to the actual manufacturer. Once your rebate is processed you will receive your rebate either by check or a debit card. Note: Be sure to mail in your rebate form asap because sometimes rebate offers expire. Also keep copies of your rebate, receipt and anything else needed just in case there is an issue. Mail-in rebates take around six to twelve weeks to process and receive.

Credit Card Rebate

These are sometimes hidden, but if you are wise, you will look into any credit cards you have to see what they offer in rewards. If there is a cash back rewards offer, you should read the fine print and follow the guidelines. You might be able to use the rebate to decrease the balance you owe (wouldn’t that be nice) or keep collecting until you know for sure what you would like to do with the rebate. Dependent on the credit card your rebate could be for airlines, gift cards or simply a check written to you.

Instant Cash Rebate

This is a favorite for many people. The immediate rebate at the time of purchase. Heck, even if it is a few bucks off, it is a few more bucks in YOUR pocket. This type of rebate if also nice because you don’t have to fill out any forms and send them off somewhere. You get the benefit right away!

Online Rebate

Some retailers take care of all of their rebates for you via their website and online. This kind of rebate is a lot like the mail-in rebate minus the postal mail part. You pay the full price when you purchase an item and follow up with the rebate. Typically these rebates are processed a lot faster due to the fact that you do not have to deal with gathering the receipt, UPC Code, fill out the form and head to the post office. Not to mention the waiting game. There is still processing time once you submit your rebate online, but most likely a lot less time until your rebate arrives!

Be sure to pay close attention to the terms and conditions of your rebate. Often times the rebate is very detailed and calls for multiple products to be purchased or a certain spend amount. No matter what form your rebate is in, read the directions once you receive it. Sometimes the debit cards have additional charges to withdraw money or an expiration date. Same with a hard check written to you. You don’t want to miss out on your rebate if you leave the check sitting with the rest of your mail pile that you are going to “deal with later”. Don’t miss the chance to take advantage of your rebate. Even if it is a small amount, it’s always a nice treat to get money in the mail instead of a bill.

The Benefits of Outsourcing Rebate Payments When Offering Incentives

 

One of the best ways to promote a product is with rebate processing. While it’s true that rebates can increase sales, processing them can be a nightmare. Outsourcing your rebating functions could be the answer for a number of reasons.

Processing rebates is a time-consuming function that may go on for some time after a promotion has ended. In fact, it could require additional resources that you as a small business owner simply don’t have. Hiring new workers, even on a temporary basis, may not be practical either. Your only option might be to work extended hours processing rebates in-house or spend additional money in the way of overtime to have one of your employees do it.

Since stocking shelves, ordering merchandise and taking care of customers are your top priorities, chances are you won’t think about processing rebates until you have all of these other tasks completed. As such, your customers could easily become disgruntled because they are waiting too long for their rebates. Worse yet, you may completely forget about certain rebates until after the promotional period is over, causing some people to miss out on their savings altogether. This can not only affect future sales but the reputation of your business as well.

You may not want to think about it, but the fact is that some people do attempt to fraudulently obtain rebates. If you’re not trained in some of the common ways this happens, you might not notice instances of fraud and may issue checks to scam artists anyway. On the other hand, companies that regularly deal with rebates can easily recognize instances of fraud and can alert you to problems before you shell out a great deal of money.

You can avoid all these problems and more when you outsource your consumer rebate program processing to a reputable company such as checkissuing.com. We recently won two industry award for our software. For more information, please contact us.

By |2018-09-28T15:02:08+00:00December 21st, 2015|Rebate Processing|Comments Off on Why Some Businesses Use A Rebate Strategy

About the Author: