Are you tired of paying full price at the gas station? Or do you long for cashback while making purchases? Then, GetUpSide is your magic wand! How? You may ask. GetUpSide has revolutionized the way we spend money by offering users cashback rewards for every gallon/commodity purchased. But how does Get Upside make money while giving us a sweet deal?
Well, that’s an obvious question in the curious minds of the folks.
So, in this captivating write-up, we’ll delve into the GetUpSide business model that powers the cashback and savings magic. From dynamic pricing to partnerships with gas stations, their approach is as fascinating as it is financially savvy.
So buckle up, because we’re about to uncover the secrets behind Get Upside’s successful business model!
(A) GetUpSide: A Brief Overview of the Company
GetUpside is a company that is building and distributing a new economic model. It aims at leveling the playing field in brick-and-mortar commerce and empowering everyone to earn more.
Okay. Imagine a scenario where you get a cashback every time you shop for daily essentials. Would it be less than a fairy’s magic? Obviously not! Because cashback rewards and discounts are the most anticipated features for today’s folks. And this opportunity is utilized by various cashback apps!
GetUpSide is one of them…
It offers a free top-rated app where you along with other users can earn cash back on everyday necessities. Such as gas, groceries, and food. The company operates under an affiliate business model, where it receives a share of the profit from its 20,000+ partners. So, how does GetUpSide make money? We understand that you desperately want to know its money-making strategies. But for that, you need to understand its profile and working strategies.
So, let’s begin with a brief overview of GetUpSide Company
|Name of the Company||GetUpSide|
|Headquarters||Washington D.C |
(United States of America)
|Operating Segment||Savings & Cashback|
|Market Valuation||$1.5 billion|
|Annual Revenue (FY23)||$128 million|
|Customer Base||30 million|
|No. of Business Partners||Over 50k|
|Competitors||GasBuddy, Costco, |
Ibotta, Rakuten, etc.
Now, it is time to dive into the GetUpSide business model.
(B) Working Strategy: How does GetUpSide work?
When it comes to cashback services, folks misunderstand it for traditional coupon services. However, GetUpSide doesn’t work like the conventional coupon-offering platforms. It offers location-based discounts. Yes, based on geos! How? Through a map interface that shows cash-back deals based on your current location.
Let’s go through the working strategies of GetUpSide Company-
(B.1) User Registration and Location
First of all, you will have to download the GetUpSide mobile app. It is available in both the Apple Store and Google Play Store. Then, you have to register in the app using your personal information. The main motto of this app is to provide you with cashback on purchases based on your current location.
If you are a regular customer of a particular grocery store or gas station, then the app will remember you and the store/shop. So, wherever you go shopping in that particular store, you will receive a cashback. All of it works based on your current location!
(B.2) Nearby Partnered Gas Stations and Retail Stores
In the above point, you learned you can earn cashback based on your geographical location. So, does it mean that you will get a cashback in every store with which you are familiar (regular)? Sadly not! You will get cashback only from those stores and gas stations that are partnered with GetUpSide.
The app identifies gas stations/stores that have partnered with GetUpside in the user’s vicinity. These stations/stores offer cash back rewards through the app.
(B.3) Dynamic Pricing and Offers
So, how much cashback will you get on each purchase/refueling? Will it be consistent or change from time to time? Well, it will vary based on the frequency of your purchases or other algorithms.
The following factors determine the amount of cashback or offers-
- Time of day
- User behavior
GetUpSide employs a dynamic pricing algorithm to determine cashback offers for different gas stations.
(B.4) Offering Cashbacks
Well, it is a multi-step process. Look at the following points to understand how you will get the cashback in the GetUpSide app-
Step 1: Claiming Offers
This is one of the highly alluring features of the app. You can view the available cashback offers for various gas stations on the app. So, if you find that a gas station a bit far from your home is offering a better cashback than the nearby one. Can you claim the offer by fueling your car in the former gas station? Yes, you can!
You can just select the offer that you are interested in, make the purchase, and claim it. This process is as simple as it sounds!
Step 2: Purchase and Receipt Upload
After claiming the offer, you go to that store/gas station, purchase/refuel, and make the payment. See, here you need to make the full payment. Then, you need to upload a photo of your receipt in the GetUpSide app to verify the transaction.
Step 3: Cashback Approval and Redemption
GetUpSide reviews the receipt that you uploaded to check its authenticity. Then it approves the cashback amount. Once approved, you can redeem your cashback rewards through various methods. Such as-
- E-gift Cards
- Direct Bank Deposits.
That’s how you get the cashback for making purchases from the stores partnered with GetUpSide! You may wonder, how does GetUpSide make money after offering such cashbacks? Well, you will get to know it in the upcoming sections.
(B.5) Data Utilization and Personalization
Well, the success of this app is underlined by its ability to use consumer spending data. GetUpSide collects data based on your preferences, spending patterns, and location. This data helps to refine the cashback offers. Thus, it becomes more personalized and relevant to individual offers. These data-driven insights also help its partnered retailers.
(B.6) Premium Subscriptions
Here, you need to pay a fee to get more exclusive cashback offers. You can opt for a premium subscription that offers other benefits like higher cashback rates and exclusive deals. But in exchange for a monthly fee. This also acts as an important revenue source for the company. We will discuss it in the upcoming sections.
Through these working strategies, GetUpside creates a symbiotic ecosystem. Here, users benefit from savings, retail partners attract more customers, and the company generates revenue through various channels.
(C) Diverse Revenue Sources: How does GetUpSide make money?
Here comes the most anticipated part of this write-up. In this section we will describe- How does GetUpSide make money? It earns through the following revenue sources-
(C.1) Affiliate Commissions
GetUpside leverages affiliate partnerships with convenience stores, restaurants, and other local businesses. When users redeem their cashback rewards at these affiliated establishments, GetUpside earns a commission on the resulting transactions. This mutually beneficial arrangement encourages users to not only save on fuel but also explore other businesses in their area.
The process is a bit complicated.
Go through the following description that describes the money-making strategy of GetUpSide Company through commissions.
GetUpside employs dynamic pricing algorithms to adjust the cashback offers on their app. They collaborate with gas stations to determine these deals, and the stations pay GetUpside a commission on each transaction made through the app.
The same story goes for other retail partners like grocery stores or companies related to commute routes.
It earns commission in the form of “Transaction Fee.” While users enjoy cashback, gas stations/retailers pay a transaction fee to GetUpside for every qualifying purchase made through the app. This fee is a percentage of the cashback offered, ensuring a revenue stream for the platform.
Thus, the commission is a percentage of the purchase amount, allowing GetUpside to earn revenue while still providing savings to users.
(C.2) Data Monetization
As you have read above, GetUpSide gathers valuable data from consumers. Such as preferences and spending patterns. The company keeps this data anonymous to keep the security in check. Then, it sells these data to businesses and marketers who are looking to refine their targeting strategies. By capitalizing on this data, GetUpSide generates a significant and additional revenue stream.
(C.3) Sponsored Promotions
The platform partners with brands for sponsored promotions and targeted advertisements within the app. These brands pay GetUpside for the opportunity to showcase their products or services to users. Especially those who are engaged with the app’s money-saving features.
(C.4) Premium Subscription
GetUpside offers a premium subscription tier, providing users with enhanced benefits like higher cashback rates and exclusive deals. Subscribers pay a monthly fee for these premium features, creating a consistent source of revenue for the company.
(C.5) Dynamic Pricing Strategy
GetUpside employs a dynamic pricing strategy, partnering with gas stations to offer varying cashback rates. These rates are adjusted in real-time based on various factors described in the previous sections. Such as location, demand, and time of day, allowing them to maximize revenue while still providing users with attractive discounts.
(C.6) Expansion to New Markets
As GetUpside expands its services to other industries like grocery stores and restaurants, it forges partnerships. Eventually, it earns a share of the transactions made through its platform. This diversification of offerings broadens the company’s revenue base.
Through these diverse revenue sources, GetUpside maintains a balanced approach to making money. It ensures both users and businesses find value in their platform while sustaining the company’s growth and profitability.
(D) Marketing Strategies of GetUpSide
GetUpSide utilizes various marketing strategies to boost sales and attract customers. One of their marketing initiatives includes a $25 million marketing campaign that aims to expand their reach in over 50 markets. This involves leveraging paid marketing, peer-to-peer referrals, and forging new partnerships.
Additionally, GetUpSide employs a consumer shopping cashback app business model, which generates revenue through affiliate commissions paid by the brands they partner with. By offering cashback incentives to customers, GetUpSide incentivizes shopping through its platform, thereby driving customer engagement and increasing its user base.
Apart from these, GetUpSide utilizes the following marketing strategies to increase its customer base-
(D.1) Personalized Offers and Recommendations
As you have read in the section on “Working Strategy,” GetUpSide employs sophisticated algorithms to analyze user behavior and preferences. This allows them to deliver personalized cashback offers and recommendations that resonate with individual users.
By tailoring offers to match users’ interests, they create a more engaging and relevant experience. This marketing method helps it to gain a loyal user base.
(D.2) Incentivized Referral Programs
GetUpside leverages the power of word-of-mouth by implementing a robust referral program. Users are encouraged to invite friends and family to join the platform in exchange for additional rewards. This strategy not only expands their user base but also capitalizes on the trust people have in recommendations from those they know.
(D.3) Location Based Targeting
Utilizing geolocation technology, GetUpside ensures that users receive offers from businesses in their immediate vicinity. This hyper-targeted approach capitalizes on users’ real-time location, increasing the likelihood of conversions as users are more likely to act on deals that are nearby.
(D.4) Partnerships with Local Businesses
GetUpside forms partnerships with local businesses, including gas stations, restaurants, and retail stores. This symbiotic relationship benefits both parties. How? Businesses attract more customers through exclusive offers. And GetUpside gains a broader range of appealing deals to offer users.
(D.5) Limited Time Promotions
Creating a sense of urgency, GetUpside frequently introduces limited-time promotions that encourage users to act quickly. Scarcity and time-sensitive offers can drive users to make purchases they might have otherwise delayed.
(D.6) Content Marketing & Blogging
Through blog posts and content marketing, GetUpside educates users about the benefits of their platform, how to maximize savings, and the mechanics of cashback deals. This approach positions them as a reliable source of information and expertise in the field.
(D.7) User Testimonials & Reviews
Displaying user testimonials and reviews on their platform and marketing materials builds trust among potential users. Real-life success stories create a sense of credibility and encourage new users to try out the service.
Thus, GetUpside creates a comprehensive and engaging marketing approach that not only attracts new users but also keeps them coming back for more savings and rewards.
Let’s look at the summary of the “GetUpSide Business Model.”
|Key Features||Dynamic pricing, personalized discounts, |
and data-driven insights
|Revenue Sources||Commission from partners, |
Expansion into new markets
|User Benefits||Savings on fuel costs, personalized deals, |
potential premium benefits
|Mission||To help consumers save on everyday expenses |
while boosting business for local merchants
|Notable Partners||Major fuel retailers, brands, and local businesses|
By now you might have understood- How does GetUpSide make money? Another notable fact is the official name of GetUpSide has been changed to “UpSide.”
GetUpside employs a unique business model in which it partners with local businesses to offer cashback rewards to consumers who make purchases using the app. We have explained one of the most anticipated questions of folks- How does GetUpSide make money? The company generates revenue by taking a percentage of each transaction made through the platform.
GetUpSide business model incentivizes both consumers and businesses to participate, driving sales and customer loyalty. This strategy demonstrates how innovative tech-driven solutions can bridge the gap between local commerce and digital platforms, benefiting all stakeholders. Its operating strategy brings together consumers and businesses to ensure profitability for both parties.
Overall, GetUpside’s success highlights the potential of its business model. And that too in the evolving landscape of consumer engagement and local business support!