Blog
- Straight Cash Back: the full purchase price, a % of the price back or a specific dollar figure all work well and are well received by the consumer. As always how the product is treated by the consumer and the entry mechanic is all important. Positioning the offer as 100% money back guarantee will give you a slightly lower response rate than using the magic words ‘Try me Free’. More and more we are seeing these go online however the good old fashioned mail in works just as well and is good if there is a limited budget as there is definitely less take up.
- Product Challenge/Guarantee: consumers are invited to try the product and let us know what they think (in 15 words or more) – positive or negative. Full cash back to all valid claims. This one is great to get some interaction with the brand.
- Money Back Guarantee: consumers are asked to tell us why they didn’t like the product (in 15 words or more). Full cash to back to valid claims. A cheap way to create point of difference on the shelf as redemption rates are always pretty low - which is reflected in the fixed fee.
Article 4: Cash Backs
More and more I am getting asked about cash backs... the benefits they offer, the redemption rates we expect, the sales uplift the brand sees etc etc.
Presumably the continued roll out of cash backs on high ticket items proves their worth at that level so it makes sense that FMCG brands are interested in offering the consumer value - at shelf level -without having to enter into a price promotion strategy.
There are a few members of the cash back ‘family’ that URMA works with – and they can be all tweaked to fit with available budgets. Fabulous eh?!
So here is a quick review for you:
Check out the URMA website for a look at the types of brands we have worked with to provide cash back promotions. Click here.
See you soon...
Melissa
