Everyone who owns an e-commerce store are you ready to unlock the secret to boosting sales and retaining customers?
We’ve split-tested percentage offers vs. cashback offers for most of our clients, and guess what?
Cashback offers have consistently come out on top every time.
Advertising this offer helps us to stick to giving % off for some big sales only 2-3 times in a year.
Here’s why you should consider implementing cashback rewards in your online store:
INCREASED PROFIT MARGIN:
- Unlike percentage-based discounts where brands bear the cost, offering cashback rewards allows you to maintain your profit margin.
GAMIFICATION OF SHOPPING:
- Cashback rewards transform the shopping experience into an engaging game. You can set spending thresholds and offer rewards to motivate customers.
SENSE OF REWARD:
- Immediate cashback gratification creates a sense of accomplishment for customers, strengthening their bond with your brand.
INCREASES REPEAT PURCHASES:
- By providing incentives for future rewards, you establish long-term relationships with your customers and boost customer lifetime value.
ILLUSION OF BARGAIN:
- Picture this: “Spend $50 and get 50% cashback!” Such offers create excitement and a perception of an irresistible offer enticing customers to purchase.
That being said do a split test against % offers and see how well it performs.
Share your thoughts and experiences in the comments below.
I hope this helps.
Thanks for reading