How cashback is driving sales growth for Australian marketers

The popularity of loyalty programs in Australia has raised expectations among consumers that they deserve something extra for their spending.

While loyalty programs can aid retention, they don’t always drive sales growth – a consideration that has become critical for many marketers due to volatile economic conditions.

Australian company Cashrewards has developed a solution that meets the needs of both marketers and consumers by driving sales with zero wasted marketing spend while putting cash back into the hands of shoppers, which also drives greater brand loyalty.

Performance that pays

Cashrewards was founded with the mission of providing marketers with a proven method for driving sales growth leveraging the globally proven cashback model. It has driven over $2.5 billion in sales for a merchant ecosystem that features over 1,700 retailers across key shopping categories. Part of the attraction for brands is that they only pay when a Cashrewards shopper makes a purchase, ensuring zero wastage on marketing spend. The result is a lower cost per acquisition and higher Return On Ad Spend (ROAS) than either Google or Facebook, based on average 12-month performance fees.

Those sales come from a member base that has grown by more than 200 per cent year-on-year to reach more than one million Australians who have shared in over $110 million savings from shopping with brands they love. 

Cashrewards can show that its members shop online nearly 50 per cent more often than non-members and spend 50 per cent more on average. In addition, more than two-thirds of members are high value Millennial and Gen X shoppers, and they are twice as likely as the average Australian to earn over $150,000 annually.

Cashback to the Max

Cashrewards’ brands will also now receive a significant boost thanks to a new strategic partnership with the ANZ Bank.

Through the Cashrewards Max™ program that launched this month, ANZ’s 4.7 million cardholders can shop now and save with Cashrewards’ 1,700 brand partners. In addition, ANZ cardholders will receive higher cashback rates within as little as two weeks when they purchase online or in-store using an eligible ANZ credit or debit card. Cashrewards Max™ will unlock supercharged deals from brands like The Iconic, Apple, rebel, Appliances Online, Uniqlo, Adore Beauty, Petbarn, ASOS and more. So, while Cashrewards was already one of the largest, fastest-growing performance marketing and loyalty platforms in Australia, this new partnership will further accelerate the scale it can offer brands.

“Cashrewards Max™ is incredibly exciting for Australians, but also for our brand partners. We expect it to help cement Cashrewards as Australia’s default cashback ecosystem to grow the category to match the size of similar international markets, connecting more brands with more customers so they can shop now and save now", says Cashrewards CEO, Bernard Wilson.

To accompany the launch, Cashrewards has invested in a multi-million dollar above-the-line advertising campaign to raise awareness of the new program and provide brands with the opportunity to promote themselves to the expanded customer group.

“We want to celebrate everyday transactional moments which are now more rewarding than ever with our new Cashrewards Max™ offering. This new creative campaign will appear across traditional and digital channels and provide brands with the opportunities of unique but mass reach on a pure performance basis”, says Wilson. 

Out-performing performance media

Cashrewards Max™ provides an unprecedented opportunity for marketers to connect directly with more than 6 million Australian consumers to drive awareness and boost sales in the most efficient manner possible. The program will enable brands to drive incremental transactions with greater frequency than any other loyalty or performance offering in the market. 

Unlike marketplace platforms, brands ‘own’ the sale, as Cashrewards members transact through the brand’s customer experience. The Cashrewards program also provides a holistic view of customer data to merchants offering greater insights for brands to efficiently drive a range of marketing objectives.

By partnering with the leading performance & loyalty marketing platform in Australia, brands can unlock significant incremental reach, sales and customer loyalty with Cashrewards Max™. Find out how to become a partner here.