Using Rebates To Increase Your Sales
There’s no doubt that rebates can be a strong tool to help close sales. With over 79% of the US currently covered by an active commercial lighting rebate, it's a tool that every contractor, distributor and manufacturer should be using. Below are just some of the ways rebates can help increase your sales.
Achieve better project paybacks
Rebates have a significant impact on the payback of a lighting project. On average, rebates improve the payback by 20-25%, meaning a project with a 2 year payback will be reduced to 1.5 years.
Stand out from competition
Most contractors and distributors don’t handle rebates; they’re too time consuming, complex and outside of their comfort zone. They leave it to their customers to figure it out. In an increasingly competitive marketplace, including the rebate on quotes and bids will help you stand out from others. It shows you understand your market, how the process works and that you really care about them.
Lower your cost without hurting your margin
Rebates allow you to lower the net out of pocket cost to your customer without sacrificing your margin. Here's an example:
Use rebate deadlines to motivate customers
Rebate programs have deadlines that must be adhered to. It gives a great reason to touch base with a customer again and to encourage them to move forward with their project. For example, every year for the past few years, rebates for LEDs have gone down between 20 – 30%. To get the most rebate money possible, customers should try to get their projects completed before the end of the rebate program year.
Use retroactive programs to get back in touch with customers
In some areas, there are programs that let you get monies for projects completed as far back as 4 years ago. These retroactive programs give you a great reason to get back in touch with old customers.
Partnering with BriteSwitch makes it easy
With rebate programs changing constantly and over 3,000 utilities in the US, BriteSwitch can be an excellent resource in helping you take advantage of these rebates. Before you quote a job, you can reach out to BriteSwitch about the project and we can analyze the potential and let you know if there are any important things to know (such as upcoming deadlines, problems with product eligibility, etc) to help you win the job. Then if the customer goes forward, BriteSwitch can take care of all the paperwork and oversee the entire rebate process, removing all the hassle for you and your customers.
If you have a project you're working on where you want to leverage rebates, just call or e-mail us at email@example.com and we can help.