If you’re a diehard deal hunter like I am, you already know that it’s not enough to know that a particular product has a lower price at Store A versus Stores B and C. What if Store A has exorbitant shipping charges? What if there’s actually a coupon code out for store B which makes the product cheaper? What if Store C has the highest price but offers a huge cashback rate?
Young Entrepreneur recently ran an interview with Extrabux co-founder Jeff Nobbs. At the ripe old age of 24, with six years in business, Jeff and his crew have developed a really nice program at Extrabux, with competitive everyday cashback rates and the added perk of a really SMART product low-price search tool that factors in available coupon codes, cash back, shipping charges, and tax when determining where you should buy to get the lowest overall price.
The YE article quotes Jeff as saying that Extrabux now features around 2,500 cashback stores, has 150,000 members, and will generate over $4 million in revenue in 2012, an increase over last year of about 400%.
Starting a cashback site is easy. Keeping it going and growing is another thing altogether — witness the failure of many other sites including big names like Microsoft’s Bing Cash Back, which folded because they couldn’t find a sustainable business model or because they couldn’t reach the critical mass needed to cover overhead and to negotiate contracts with more elite national retailers. Extrabux has done just that.
Jeff credits word of mouth marketing with the site’s ability to grow while staying within a modest budget. I’m proud to be among the ranks of people singing the site’s praises since early on (2007, to be exact). Please read my review of Extrabux and consider signing up — it’s a great tool to help you maximize your holiday shopping budget…and to pay you a nice reward for shopping for others, too.