Rebates and incentives are two of the most common methods used to increase your company's sales. Unlike other advertising strategies, rebates and incentives speak for themselves. Thus, as long as they're done properly, rebates and incentives are one of the most cost-efficient marketing solutions you can use for your company.
How to Make Rebates Work for Your Company
Rebates may either be offered by the manufacturer or retailer but in either case, rebates usually offer products or services at a seemingly lower rate.
Tip #1 Calculate Carefully
Don't just lower the price of your product and offer rebates without showing any serious thought about it. Carefully calculate just how much you can afford reducing the price without getting bankrupt.
Tip #2 Women Respond Better than Men to Rebates
If you really want to make the rebates you're offering work, do your best to target female customers with your advertisements. Women are more patient than men when it comes to shopping. Secondly, women are more patient with keeping rebate coupons in their pockets until they finally find an opportunity to use them.
Tip #3 Keeping It Simple
Don't give out rebates if you're only intention is to deceive your customer into buying your product at its original price. If you're offering rebates, but there's a procedure to follow before you can claim the promised reward, make sure that the process is kept short and simple. Don't ask them to photocopy their receipt in triplicate, sign tons of paperwork, and do other things to discourage them from claiming the rebate.
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