Have you ever been enticed by a reward, discount or Cash Back? Have you ever questioned your psychology behind that transaction? In this blog post, we will discuss the psychology behind Cash Back and rewards, and how you can leverage them to achieve your personal financial goals.
More and more consumers state that the discounts, rewards and Cash Back offers prioritize where they will shop. And why not? If you can save a few bucks, you should! Saving money is a key aspect of building wealth! Looking at the psychology behind it, according to one theory of human motivation, actions are inspired by a desire to gain outside reinforcement. The Cash Back after a purchase is an outside reinforcement.
Furthermore, offering points or a reward upfront when you start encourages you with the endowed progress effect. Thus, you feel ahead before you even start earning Cash Back. This promotes customers to continue on their journey and encourages loyalty for a longer duration with the brand.
For businesses, Cash Back and rewards offer positive graitifaction to customers and promote brand loyalty.
When making a purchase decision, customers are less likely to repurchase if a prior transaction resulted in dissatisfaction. Creating positive sentiment about the purchase and rewards redemption experience is crucial to enhancing the customer experience and brand loyalty.
With AstroWealth, we partner with businesses and online retailers to provide Cash Back to you! We are the connector between customers and the businesses, and help businesses build brand loyalty and acquire new users while also allowing our users to earn more for every dollar they spend and achieve their financial goals.
“Cash is King”
Cash always makes its value known with current and past financial climate, and everyone ultimately wants more cash into pockets. What would you like to earn Cash Back on? We would love to hear from you.
Want to learn how to define your financial goals? Get started here.
Join AstroWealth today to earn Cash Back when you shop online or activate a partner offer.
