The widespread popularity of cashback sites, digital coupons and online rebate programs is a testament to the millennial generation’s love of a good bargain. Today’s cashback sites and apps are attracting tech-savvy, savings-conscious consumers who value the convenience and variety of shopping online, and instant gratification when it comes to redeeming rewards.
For retailers, cashback programs have proven to be highly effective at driving new product sales. The promise of earning money on their purchases also motivates shoppers to try different brands, to buy more of a product and to buy it sooner than planned. According to a 2018 survey of online shoppers by Forrester Consulting, commissioned by savings destination site RetailMeNot:
While saving money holds great appeal for shoppers, their increased engagement in online rebate programs can be attributed to more options for receiving payment, a wider variety of merchants to choose from, and a more streamlined experience. The days of cumbersome mail-in rebate programs with lengthy redemption processes may soon be at an end as the majority (96%) of shoppers say they prefer simpler, quicker ways to save money.
Consumers who participate in online rebate programs are willing to share information about their interests, preferences, likes and dislikes to obtain more personalized offers. Yet companies still primarily rely on tracking shopping behavior and past purchase history to deliver targeted promotions and discounts, which consumers view as ineffective and invasive. According to Forrester, less than a quarter of shoppers feel that they receive highly personalized offers. Even so, competition within the rebates sector has increased exponentially since Ebates (now Rakuten) launched the first cashback site a decade ago. While rebate sites have significantly enhanced product selection and ease of payment for shoppers, the leading edge will go to those that can effectively apply data analytics to drive personalization and customer engagement.
Delivering a quick, convenient and seamless experience for consumers is a point of differentiation in the intensely competitive rebate sector. As a result, more sites are emphasizing high-quality, easily accessible customer service and support.
Top customer service challenges for rebate and cashback companies include:
In a fast-growing, highly competitive market, the ability to deliver a superior customer experience is often the deciding factor on which site to shop. Whether it is questions about promotions, a discount error or a complaint about missing cashback, shoppers want a fast, accurate and knowledgeable response. CustomerServ’s outsourced call centers provide scalable customer service solutions for companies in the burgeoning rebate and cashback sector. Outsourced contact center services include: