For budding entrepreneurs, few business models are easier to get on board with than cashback websites.
Here, we’ll be explaining exactly what a cashback website is, how they work and how you can build your very own.
What is a Cashback Website?
Though they may look complicated at first glance, the fundamentals of cashback websites are surprisingly simple. Put simply, a cashback site hosts a number of affiliate links from various retailers and service providers that customers can click on. Once a customer makes a purchase having used the cashback website’s link, the retailer pays a commission fee to the cashback site that is then shared with the customer. Really, it is a symbiotic relationship in which cashback websites are rewarded by retailers for advertising and attracting more customers.
Considering how simple the model is, it is no surprise that there are so many successful cashback websites scattered around the internet. For instance, sites like TopCashback and Quidco receive thousands of visitors each month all looking for cashback on everyday purchases. Meanwhile, other entrepreneurs have gone a step further by offering cashback deals for more specific products and locations.
One particularly popular example is Gambling Deals, a site that specialises in online casino deals. As one of the leading sites in this sector, Gambling Deals is able to offer exclusive deals such as 20% cashback on online bets as well as 15% cashback at sites like Redbet and Joreels. This more specific cashback scheme offers players a percentage of the money they’ve placed on losing bets. What makes this offering attractive is that although they’ve lost the bet, they still get some of their money back, which can then be invested in other bets. Meanwhile, other business-savvy individuals have created more location-based cashback services, such as Warrington Rewards and Durham County FC that offer their respective locals exclusive deals.
How To Build Your Own Cashback Website
1. Create A Reliable, Modern Website
First of all, you’re going to need a base website for users to visit and retailers to partner with. There are a number of platforms you can use if you are not an experienced web developer, for instance, WordPress and Squarespace. The former has a number of plug-ins built specifically for cashback websites, while Squarespace is incredibly easy to use and is perhaps the best option for web development novices.
2. Provide Affiliate Links
Occasionally, cashback websites will manually develop partnerships with retailers and service providers by conversing with marketing departments. However, this requires a lot of time and effort on both sides of the partnership, and so most cashback site developers now use automated services such as Coupomated. This particular site has a robust collection of cashback affiliate links for an affordable price and has also managed to simplify the monetisation process for cashback sites through providing easy-to-use tools.
3. Offer a Functional Referral Scheme
Finally, you may want to consider providing your customers with a referral scheme. Not only does this further reward loyal customers, but it also encourages them to attract new members to your cashback website. What you reward your customers with is entirely up to you, though we recommend looking into what other leading cashback sites offer.
There you have it, a simple guide to creating your own cashback website that your customers will love. Of course, you will need to do some extra research and dedicate a good amount of time to ensure your website takes off, so please let us know the link so we can help out.