How Does GetUpside Make Money? How You Can Make Money With It
GetUpside is now known as Upside (as of April 2022), and it is a cashback rewards app designed to aid shoppers/users in saving money on daily purchases. So, if you own an Android or iOS device, you can easily get access to its reliable digital coupon and rebate program. The company claims a win-win solution, which is probably why most people wonder how they make money that allows them to provide such fruitful cashback offers.
Well, to put it simply, it has an effective yet simple business model that facilitates the generation of revenue and helps the app grow its user base daily. This guide will talk about this in more detail. You will also learn how to use GetUpside to earn handsomely with minimum to zero effort. So, do keep on reading!
WHAT TO EXPECT FROM GETUPSIDE?
This beneficial cashback app will negotiate bonuses from local businesses for its users. Typically, you will be offered cashback for purchases made in certain restaurants, gas stations, and grocery stores. So, using the app will be like using shopping portals, card-link offers, store coupons, and other cashback apps that help to save money.
According to its users, it provides more opportunities to save on gasoline purchases than restaurant and grocery store spending. As gas prices are now relatively high (the highest in the last 40 years), this app is becoming a favorite of many smart shoppers. You will also come across promotions on the app that will be stacked with your existing credit card rewards.
It is necessary to inform here, GetUpside does not provide immediate cash back. The cashback program is designed to add credits to the user’s overall rewards account. You need to have a minimum balance of $10 in this account to get permission to redeem rewards. So, you can guess that its cashback program cannot be considered a discount program. You can cash out via check, gift cards, or PayPal.
HOW DOES GETUPSIDE MAKE MONEY?
Just to provide an idea, let’s consider the report that came out recently. In its latest round of funding, GetUpside was able to raise $165 million from venture capitalists which raised in valuation to $1.5 billion. Typically, cashback apps earn by charging a transaction fee or commission from businesses. This also applies to GetUpside, however, it raised more than $70 million over 5 funding rounds because of its unique business model.
* GetUpside Business Model
It uses a two-sided marketplace to drive value to both users and businesses. On the user side, it will help them to save money on their everyday purchases. On the business side, it provides a cost-effective method to grow the business’s customer base. It has a profit-sharing scheme with businesses that help the app make money. The app will bring in new customers, and the business will approve their purchase. Then, the app will receive a percentage of the profit which the business made with the help of the customer’s purchase. The reason why the app mentioned the win-win solution is because of the fact they do not receive the total amount until both the customer and business are satisfied.
The cashback offer will incentivize the user to shop from the business. So, the cost is borne by the business. But the business does not mind as the cost to acquire the user in question independently would have been high. GetUpside is popular among many businesses as it allows for a low acquisition cost for businesses. The business is only sharing a small percentage of the profit that it is making from the users bought in. Not only this business model can create a mutually beneficial and sustainable ecosystem, but it also helps traditional businesses to have layers of digital rewards and personalization components at minimal cost.
* GetUpside Business Strategy
GetUpside has a powerful algorithm that can identify user spending patterns by using different data sources like mobile app usage, GPS data, Debit/Credit card transactions, and more. The data is collected to design a personalized and targeted cashback offer for each user. So, this approach or strategy helps the app to provide better user experiences and businesses also get a cost-effective way to get more loyal customers.
The strategy of GetUpside is to display only one offer at a time for each category. So, businesses can enjoy exclusivity as it can be the only provider of the cashback offer in their category. The app goes the extra mile to expand its merchant network. As more and more businesses are joining in, GetUpside will likely have a wider range of categories for its users which will surely reel in more customers in the coming future. Businesses can highlight specific products via GetUpside by offering increased cashback rates for those products, resulting in more customers or increased sales. Businesses can enjoy everything that the app has to offer without any sign-up fees and monthly payments.
Unlike other cashback apps/websites, this one actively avoids pop-up ads and banners. It uses white-label software (also used by GasBuddy and Uber) that helps the cashback program to run smoothly. This is a subtle form of monetization that acts as a vital revenue stream for this reputed cashback app.
HOW CAN YOU USE GETUPSIDE TO MAKE MONEY?
The more you spend, the more rewards you can earn when using GetUpside. There is no limit on how much you can earn from the app. If you are living in the D.C. area, you can enjoy up to 15% cash back on groceries and 35% on restaurant bills. You will get around 25 cents cash back on each gallon purchased if you are in a participating city (48 states as of now).
It has partnered with more than 25,000 gas stations and around 30,000 businesses. Some gas stations working with the app include Shell, Chevron, Exxon, BP, Mobil, Circle K, and more. If you want to make money while purchasing groceries, then choose stores like Good Food Markets, Carlie C’s, Piggly Wiggly, Streets Market, GW, and Gelson’s. And finally, the restaurants that offer GetUpside cashback are laMadeleine French Bakery & Cafe, Burger King, roti, Papa Johns, Sweet Baby Ray’s Barbecue, QDOBA Mexican Eats, Avocadish, Popeyes, Dunkin Donuts, and Wendy’s.
Many other local businesses have partnered up with the app. So, do browse this easy-to-navigate app to find out all your options.
Some must-know tips to maximize your savings on GetUpside:
* Use a cashback card to double up on earnings
* Check the app regularly to see all the updated nearby offers
* Take advantage of its rewarding referral program as you can earn a bonus not only on your friend’s first purchase but also for all other gasoline purchases that he/she will make in the future
Hopefully, now you have a clear idea of how GetUpside or Upside earns money and how you can use it to save big on your daily purchases. Both the website and app version has a ton of information that is categorized for both app users and businesses. So, do check out the site to learn more or contact them to clear further doubts.
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