Price reduction – rebates, coupons for dollars or percentage off, and “buy one get one”-type offers
The sky’s the limit when it comes to incentives! Most incentives fall into one of the following categories: What are some of the most popular types of incentives?
For mail-in rebates the customer pays in full and then receives the rebated amount by mail at a later date. Instead, the rebate amount is applied as a discount to the purchase price. With an instant rebate, such as what is often used in the auto industry (“only $33,999 with a $5,000 rebate”), the customer is rarely handed the cash. This can either be an instant rebate or a mail-in rebate. With a rebate the customer buys something at full price, and then has a portion of that purchase price returned to them. Essentially a rebate is a price reduction. What’s the difference between an incentive and a rebate?Ī rebate is actually a type of incentive. In other words, it’s an “enticement” to get customers and prospects to do what you want them to do. In the marketing world, an “incentive” is something that motivates an individual to perform an action, such as making a purchase, completing a survey or signing up for a mailing list.