What Is Cashback? All You Need To Know in 2020
What are cashback websites?
Cashback sites set up with the intention of advertising the most popular merchants that are available online.
The business model here is to provide you with the consumer with a platform that has available links to the merchants advertised on the site.
The cashback site has set up a programme that links the cashback site to the merchants.
With this an agreement that all referrals will generate a small commission paid by the merchant to the cash back site.
The cashback site then gives you the consumer a fee for your business. So basically the consumer and website share commissions raised from the purchase.
This is pure and simple good advertisement best practise. As a retailer in this online dominated industry, it has become extremely difficult to survive with the huge online competition.
The internet is a global platform where anyone in any country can sell anything. This has become the most accessible market place for consumers. For retailers, it has made them and broken some.
For small business the internet has forced them into closure, unable to compete with the big established brands.
For the fortunate retailers who are able to hold top positions in the retail world cashback sites have become invaluable.
Historical marketing has required retailers to spend huge fees on advertisement upfront without a single sale!
This in its self has risk, there is no guarantee the advert that a retailer had commissioned will generate sales.
Some would say this is a gamble for the retailer, where do you advertise, when, what is the target audience? There are so many variables to this challenge.
Research best know cashback sites
Become a member of the cashback site you have chosen
Search for the item you wish to purchase
Buy the selected item
Cashback is generated at a certain percentage
Cashback is paid into your bank account