New small-scale businesses need to get their businesses running and generate profits. This is important for establishing the business. However, at the start of the business’s life cycle, getting new small-scale businesses to get their businesses up and running. This is where Miconex provides opportunities to new local businesses and retailers.
Therefore, read this post to learn more about this organization’s Local Gift Cards and Mi Rewards programs. These have been incremental in helping new businesses get more customers and reach newer heights.
What Is Miconex? – How It All Started
Miconex Corporation is one of the first gift card programs introduced in the UK. This company started its business in 2015 after launching a program called Town and City Gift Cards.
This organization’s purpose is to help local communities and businesses grow financially. But how does it do so? Miconex does so by introducing local currencies that promote more spending amongst local businesses and communities.
In the director’s words, this company influences businesses to lock in their money by using regional gift cards. Using these gift cards, businesses in the country can create communities of loyal customers and other businesses cooperating with them. Moreover, these local currencies can be distributed amongst communities through various gift programs like staff awards.
Such community-building operations have proved to be successful since this firm now has 100 programs in six years.
Miconex Local Gift Cards
To increase the participation of customers in helping businesses grow, businesses will have to provide value to customers. Therefore, Miconex has come up with a plan to provide businesses with the opportunity to do so. Here, the company has introduced the Town and City Gift Cards program.
In this program, the company has advocated the idea of businesses in the region providing gift cards to customers. Therefore, customers can avail themselves of a gift card whenever they buy something from stores or businesses. This depends on the number of products or services purchased by the customer. The more they purchase, the better gift cards they can redeem in return. In addition, businesses and retailers also get something in return from Miconex as rewards as well.
So far, this has proved to be a fantastic mechanism for local SMCs (small-scale companies) to generate more sales. This is because they are making customers feel important as people by giving them gifts in return for their purchases. Therefore, this influences customers to spend more by purchasing various products and services.
The primary purpose of doing so was to endorse local companies through customer participation. Doing so will encourage better advocacy for local businesses by making their products and services more recognizable to customers. Therefore, it increases customers’ local spending and sales and revenue generated by local businesses.
So far, this has proved to be a success for Miconex. This is because this program has been endorsed by businesses across 100 towns in the UK. In addition, more than 8500 retailers have participated in this program, making it a success.
This program is built on the Mastercard network. Therefore, local retailers can sign up for this program without the need for any additional costs and equipment.
When it comes to the money spent by customers, it’s a success as well. A report has shown that if customers can avail gift cards, they will spend more. This extra spending to get the gift card id 65% more than the actual value of the gift card. In addition, 15% of all gift card holders are new retailers’ customers, drawn in by this tempting offer.
Another great aspect of this card is the fact that customers can choose what to do with this gift card. They can decide how to avail its rewards – whether it’s by dining out or redeeming great discounts at various stores.
Miconex Mi Rewards – Loyalty Program
Another great program started by Miconex is the Mi Rewards Loyalty program. This is a program made with customers in mind since they are the primary drivers of local businesses.
Here, customers can sign up with Miconex to get a Mi Rewards loyalty card. Using this card, customers can avail even more rewards for purchasing products from local businesses. Here, if the customer can show their Mi Rewards loyalty card, they will avail special gift vouchers – provided directly by Miconex.
Therefore, apart from Miconex Gift Cards helping businesses by influencing customers, the Mi Rewards loyalty program also does the same. Here, every time customers spend more than £10 at any store that’s a partner of the Miconex Gift Cards program, they will automatically get a chance to participate in a monthly lucky draw.
This program has proved to be a success for the company because it can attain customer spending reports. Here, the company directly gets insights into consumer buying behavior. For example, they can see reports like what customers like to purchase in the town and how effective are the marketing campaigns of local businesses.
Moreover, customers love this Mi Reward program since they don’t need to carry the card at all times. Instead, they can simply link their credit and debit cards with the Mi Rewards card. Businesses also love this program since they do not need any extra equipment or staff training to carry out these rewarding tasks. Various Miconex user reviews have proved this.
FAQs (Frequently Asked Questions):-
Retailers have asked many questions about Miconex, and the answers to them are:
Ans: Scotland Loves Local Gift Card is a rewarding program for Scottish businesses that was inspired by Miconex’s vision.
Ans: Yes, customers and businesses well-received gift cards in Perth, Australia. Due to its success, Miconex expanded its operations internationally in the USA, Canada, Australia, and Ireland.
Ans: The Mi Rewards program lets customers avail various rewards like:
➼ Special VIP access to various events.
➼ Gift hampers in local restaurants.
➼ Automatic participation in lucky local draws if you spent more than £10.
Final Verdict – Are Miconex Programs Good For Local Businesses?
Yes, the two programs started by Miconex have proved to be great for new businesses. They have provided new customers for these businesses. It’s done with the hope of companies and customers earning rewards. Here, customers get rewards for buying products and services from specific shops partnered with Miconex.
If you want to know more about such interesting organizations, then leave a comment below. Also, remember to read our other posts here at NewsStoner!