Understand Your Buyer > How To Convert > The Refunded Incentive Effect
What is it?
An alternative to discounting, the refunded incentive is designed to help buyers get a cheaper price, but they have to pay full price and then “work” to be refunded the difference.
Why does it work?
It works because for some people, jumping through some hoops to get cash back is no trouble at all and it allows them to get a “discount” on their purchase.
How can you use it?
This works essentially as a means to get buyers to promote your offering online.
By offering to “pay” a customer to post, tag and endorse your offering online, the customer gets a great deal for seemingly not much work and, as a seller, you get access to their audience and connections for a modest amount.
Win/win.
See this example at smiirl.com:
See also
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