CashBack Programs is based on groups such as strata corporations, housing co-operatives, rental property owners, professional practices, commercial businesses ans others participating in the world’s largest cashback loyalty rewards program, now operating in 46 countries including Canada.
The services provided by CashBack Programs are intended to provide stratas and others with the expertise necessary to permit them to maximize the significant benefits available through the program. One of the important ways stratas and others can generate program revenues is by using “CashBack Program Service Providers” for both their regular maintenance and major improvement projects.
There are strong financial incentives for stratas and others to want to use CashBack Program Service Providers to receive program benefits. One of the important roles played by CashBack Programs is to allow participating stratas and others to identify CashBack Program Service Providers able to meet their requirements.
Below are some of the ways a CashBack Program Service Provider can benefit through program participation:
- More Customers: Via both an online merchant directory and mobile app, your business will be promoted to the local purchasing community. As program members have a strong incentive to purchase from companies providing program benefits, program participants will seek out your business when they require the services you provide.
- Increased Customer Loyalty and Retention: In becoming a program service provider, your existing customers will appreciate the new cashback and loyalty benefits you are now able to provide them. You will also be able to introduce new customers to the program and they are also likely to show you equally strong future loyalty.
- Increased Sales Volume: Your sale volumes will grow due to increases in sales to both new and returning customers. Also, you are likely to begin attracting customers from much further afield.
- Customized Marketing: The program includes having a powerful “CRM” (i.e. Customer Relations Management) system available to retain customer contact information and purchasing history. With this information available, the system can be used for targeted, low or no cost email marketing campaigns.
- Reduced Transaction Costs: When program members pay for your services via their personal program account, your payment transaction costs will be zero.
- Increased Profits: Increasing sales volume should result in increased profitability, particularly as you will not have had to incur additional marketing costs to attract new customers. With other forms of advertising you are required to pay out before you receive any sales benefit. Under this program a cost is only incurred after a sale has been completed….no sale, no cost.
- Cost Effective: Apart from a low initial start-up cost, there are no ongoing membership, franchise fee or other mandatory costs associated with the program.
- Reduced Business Costs: By procuring services from other businesses participating in the program, the opportunity is available for your business to realize savings when purchasing materials; buying and operating vehicles; acquiring office equipment and supplies, securing accounting, legal and other professional services; paying for travel costs, etc.
- Significant New Income Opportunity: Every time your business enrolls a new customer into the program, your business will benefit from every purchase that individual makes with participating program businesses. This is a financial benefit that will continue indefinitely into to the future and only represents the beginning of the additional financial benefits that will be available to your business as it continues to grow.