Tokenized Rebates are the Future
Businesses create many kinds of promotions throughout the year to get more customers. An interesting type promotions is rebates because these are a unique form of discount. Rebates don't give customers immediate cash-back or an immediate cheaper price for the purchase. Rebates are promotions in which companies give some of the money back to the customer after some time.
Why do Companies use such a Promotion?
Sometimes companies want to get extra sales but cannot presently afford to sell the item for a lower price. They need to keep their balance sheets in the black in order to not go bankrupt. Companies that expect a caah receivable to be filled in a month or so can increase sales with rebates. This form of promotion is great for a company that wants to clear old inventory while being able to pay its current expenses. Future cash flow covers up the rebate.
What's the Problem?
Rebates are great for companies having hard times. They bring in sales and cash and the company doesn't have to fulfill their part of the deal, the rebate, for more than a month.
People have become used to credit cards and mobile payments. While people payments quickly and easily, rebates are slow, take time to process, and are often paid back as cheques. This is a type of promotion people are no longer willing to accept.
Rebates can be Improved
Rebates are a great way for companies with cash flow problems. MobileBridge can help these companies use rebates in a new way that customers won't mind.
MobileBridge Momentum provides companies with a platform that creates loyalty programs that run on tokens. Companies can pay loyal customers with their own branded token. Any loyalty program can be moved MobileBridge and companies can also easily make new loyalty programs on the platform. Customers can do various things to show their loyalty and their MobileBridge account would be funded with their reward tokens.
The way MobileBridge works makes token payments very quick. The platform can serve as a way to hold different kinds of promotions and this could mean rebates could be one of the promotions on the platform.
Tokens can be locked and that means companies could offer a rebate to customers and immediately give them tokens. While the company may not immediately have the money to afford to give customers free purchases in return for redeeming tokens, they could afford that later on. That is exactly how rebates have worked in the past, companies fulfill their rebate when they can afford to. Now MobileBridge will let companies make rebates appealing to customers by giving locked tokens. This will make rebates fit with today's payment culture because they'd require no effort from the customer and would be easily paid to them once the agreed token unlock period arrives.
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Ok i like the idea with mobilebrige..but byteball does this already. Read the white paper. With rebates it would seem that it could do more harm than good at times. According to your post
" While the company may not immediately have the money to afford to give customers free purchases in return for redeeming tokens, they could afford that later on. "
That later on may still not allow for coverage of what we give away. It may be better still using the token system give the token as the rebate its self for say purchases at 1%return with our token and we would need our own market for the tokens to trade or barter. i.e a store for company discounted items. And make it cost 25% more to 1 to buy items. O my did i just create an ico template... I give you this idea for free. Now we could dig deeper into the token control for the value if it ever makes it to say cryptopia exchange. Well thats my 2¢.
What you have quoted from my article is a definition of what a rebate is. That's how rebates have always work, but it seems you don't like how rebates work but this is one of the most standard and traditional forms of promoting sales.
They are very useful for turning over inventory when cash flow is running low. Learn more about them with this blog https://financialhighway.com/seven-reasons-why-companies-offer-rebates/.
MobileBridge won't change rebates, it will just make them a lot more appealing to customers.
That's what MobileBridge does. Now, let me quote from Byteball's website what they do.
MobileBridge is a marketing platform with a focus on loyalty programs and Byteball provides data storage.
Make sense to have what is commonly used in commercial world to be adopted in the crypto world. With some sellers now accepting crypto not long sales and discounts would also be associated with crypto. For example like get a bigger discount if one purchases with ETH instead of BTC. Thanks.
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I have thought about this some time ago and I think this will be one of the most important uses for cryptocurrencies in short term.
I hope in medium or long term cryptocurrencies will also have other uses with much bigger impact in the global economy.
I think the rebates strategy is a bit risky, and a safer option for companies is not to offer a direct cashback but a discount in a purchase made after a certain time.
I think it's a good idea, I think more companies should take it into account because if we look at it, it can bring better benefits.
That is like bringing transaction into blockchain i.e promotion block chain