Postscript on LinkedIn: Benefits of Using CashBack and a Loyalty …

If CashBack is King, then loyalty is royalty. And when used together, these two can rule your retention strategies. Here are the answers you've been looking…

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8 Reasons Why Customers Prefer Cashbacks Or Monetary Rewards …

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Oct 9, 2020 · NextBee also specializes in developing a personalized customer loyalty program with a wide gamut of features, providing a 100% scalable solution to any business …

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FAQs about Postscript on LinkedIn: Benefits of Using CashBack and a Loyalty … Coupon?

Why should you include cashbacks in your loyalty program?

Tip: By strategizing a loyalty program to include cashbacks, you can enable customers to shop more from your brand. When using digital wallets for online transactions, customers have a chance of winning a cashback on every transaction. ...

Does cashback generation and retention increase consumer loyalty?

Results demonstrate that cashback generation and retention increase consumer's loyalty towards the cashback. Second, program loyalty is a strong driver of customer average purchase and retailing revenues. Third, retailers can use cashback generation and retention for increasing firm’ performance by evoking consumer program loyalty. 1. Introduction ...

Why are cashback rewards so popular?

It’s hard to interpret a customer’s mind when they are making a purchasing decision. The primary reason for the popularity of cashback rewards and other monetary incentives is that it allows customers to save money. For instance, when the customers get 5 – 10% cashback on a purchase, they can buy additional items with the saved money. ...

Do cashback price strategies boost consumers' loyalty?

Using a conceptual framework, the authors link cashback price strategies to consumers' loyalty towards the program, which in turn boosts consumers' average purchase amount and retailers' revenues. The analysis uses time-series data from a cashback program merged with retailers' revenues and consumer average purchase amount. ...

What are the benefits of cashback?

Before turning to the benefits of cashback, let’s first explain it in general terms. Cashback is the reward you give every time customers purchase and spend money. Most typically, you reward them by re-paying to them a percentage of the money they spend. The exact rate varies with each business, and some may even provide additional offers. ...

How do cashback rewards work?

The more money your consumers will spend, the bigger the cashback rewards they will get. This way, you’re not insisting your customers to purchase from you, but only rewarding those who support your brand. It’s hard to interpret a customer’s mind when they are making a purchasing decision. ...