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Savvy shoppers know that coupons are not the only way to save a buck.
Rebates—which we can also call refunds or reimbursements—are a great way for sellers to market new products and an even better way for customers to save money on items they’ve been hunting for. They’re typically available through either product manufacturers or retailers. But that’s not the only place to check when looking for savings.
Below, we’ll break down what is a rebate, and how you can take advantage of them as a savvy shopper or seller.
Rebate 101: A Quick Breakdown
The difference between rebate vs discount is simple; While coupons offer shoppers a discount upfront, rebates offer consumers a cashback refund after the product has been purchased. You may be familiar with mail in rebates (MIR), but you can also sign up for rebates exclusively online.
What is a mail in rebate? An MIR is a common tool used by sellers in which a buyer mails in a coupon, receipt, or barcode to receive a check for a particular amount depending on the deal running at the time. The online version of this cuts out a lot of the postage costs and expedites the process.
Rebates actually started as a spinoff of coupons, with the first rebates offered by grocery stores.
Today, retailers who offer rebates represent a variety of industries, from electronics to home goods to appliances. They can be found through cash back apps and through money saving blogs.
You may be wondering: How much money can I expect to be refunded?
This depends entirely on the product and the product manufacturer. Rebates for pricier items (say a car) can be thousands of dollars, while less expensive options may offer an instant rebate for a.
A rebate typically runs for a certain period of time, encouraging would-be customers to pull the trigger on a new dishwasher or bedroom set.
Why Sellers Like Rebates
Business owners looking to keep their customers engaged often prefer offering rebates over discounts. This is because rebates create a longer term relationship between buyer and seller. When a customer fills out a rebate form, retailers are able to use this information for future promotions.
A great rebate, especially one that involves bigger ticket items like vehicles and high-end appliances, will create sales for a company that may need a boost in marketing.
Key advantages for sellers include:
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Rebates are an affordable marketing strategy – Online rebates offer businesses the ability to retarget customers and help to secure a solid repeat customer base.
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Rebate marketing is effective – Rebates are a great way to procure new buyers who may have never heard of your brand before this marketing campaign. Once you have this slew of new buyers hooked, they’re more likely to return for more purchases down the line based on their positive customer rebate experience.
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Rebates allow companies to gather otherwise unknown data – Rebates allow companies to gather valuable data without having to conduct pricey or complex surveys. When a customer sees they need to complete a simple form along with their rebate offer, they’re more than happy to share what their online shopping habits are knowing their reward is cold hard cash.
That said, rebates aren’t limited to high-cost items, and in fact, savings often build-up over time through smaller purchases.
Why Buyers Like Rebates
The most alluring aspect of a rebate program for customers is the simple fact that they receive cash as a reward for buying something they want or need. While saving $5 on a new crock pot may not seem like much, saving $5 on 100 different items throughout the year is a different story.
Additionally, with the advent of online rebates, the process is seamless and streamlined.
Common Rebates to Consider
With rebates, the more expensive the item and the more often you purchase an item, the more money you save. Rebates to consider when you’re trying to reap the rewards of your purchases include:
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Everyday appliances – A new washer and dryer can set you back anywhere from $1,000-$3,000—or more. In which case, finding a rebate, price reduction, or discount here offers big rewards. Most everyday appliances, however, are less than the $100 range, and they’re often overlooked when seeking out rebates. But these savings can add up quickly!
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Groceries – Grocery shopping is a weekly or monthly activity for most people. With rebates around common grocery items, you can save a few bucks with each trip, reaping large savings over the long term.
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Pet supplies – When it comes to our four-legged friends, we always want the best. But the best doesn’t have to come with a hefty price tag. Utilizing rebate incentives from the top pet supply brands allows you to care for your furry family member and save money.
With all of these categories and more, RebateKey allows you to search by items, brands, or stores, allowing you to find what you need quickly.
RebateKey: Online Rebates for Buyers and Sellers
Whether you’re a savvy shopper looking to outfit your home with new electronics or you’re a retailer hoping to drum up some long-term sales, rebates are an ideal tool for saving money and enticing new buyers.
With RebateKey, buyers can get up to 100% cashback rebates and sellers will have access to over 350,000 buyers. If you’re interested in becoming a buyer, all you need to do is follow a few simple steps:
- Sign up at RebateKey
- Shop away (the fun part)
- After your purchase, confirm your rebate key (usually your order number) and once the seller verifies your order they’ll start working on getting your cash back
- Get paid within 35 days of purchase
Retailers can sign up for RebateKey for free, and you’ll only be charged $2.95 per rebate claimed. Ready to save money on products you love?
Sources:
https://incentiveinsights.com/the-benefits-of-rebate-marketing
