I meant to post this note in response to this Colloquy article on the debate on rebates back in May. However, 6 months later (now in November), I feel just as strongly as I did then.
I HATE REBATES.
Not as a consumer, of course, but as a marketer and loyalty practitioner. Rebates encourage cherry-pickers. Rebates are for the 'penny-wise'. Rebates cannot encourage long-term brand affinity, patronage, or higher-margin product cross-sell/up-sell. Rebates kill your product CVP, your profits, your image, and eventually your business.
It's true.
Yes, I agree that rebates may work for certain category-goods, it certainly does not work in the long-term for payment cards. Then again, most banks fail to see the 'longer-term big picture'. So, we are back to square one.
And I categorically agree with everything the article says and advocates. Read it, please.
I HATE REBATES.
Not as a consumer, of course, but as a marketer and loyalty practitioner. Rebates encourage cherry-pickers. Rebates are for the 'penny-wise'. Rebates cannot encourage long-term brand affinity, patronage, or higher-margin product cross-sell/up-sell. Rebates kill your product CVP, your profits, your image, and eventually your business.
It's true.
Yes, I agree that rebates may work for certain category-goods, it certainly does not work in the long-term for payment cards. Then again, most banks fail to see the 'longer-term big picture'. So, we are back to square one.
And I categorically agree with everything the article says and advocates. Read it, please.
2 comments:
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Wonderful post related to Monitoring the business performance and Merchant Account,They make our payment processing more customer-friendly by purchasing a merchant account. They offer us the most affordable quotes from top companies and help us to choose the best processing solution for your business.
I like this
Thanks
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