With more and more economic sectors reopening their doors to operate again, small-and-medium-sized enterprises will be left to deal with the struggle to recover from the damage inflicted during the pandemic. To address this issue, Fave as an official e-commerce partner of the short-term Economic Recovery Plan (PENJANA) has launched an e-Cashback incentive under the Micro and SME e-commerce campaign.
Micro and SME E-Commerce Campaign
The Micro and SME E-Commerce campaign is an initiative under the Economic Recovery Plan that aims to help micro and SMEs expedite recovery and accelerate growth by encouraging e-commerce adoption to reach a wider set of audiences and drive consumers’ spending.
Through the Micro and SME E-Commerce campaign, Fave and Ministry of Finance are investing up to RM10,000 per merchant for their marketing expenses with the PENJANA program
Eligible Fave merchants that currently have active FavePay with Cashback, FaveDeals, and/or eCards will be automatically enrolled in the MSMEs E-commerce Campaign to ensure a seamless enrollment process.
The limited-time campaign started on the 1st of July and will end on the 30th of September 2020 and all eligible businesses are encouraged to register on the Fave platform as early as possible to claim the allocated budget for them to start enjoying more sales earlier. Find Out More
On top of the allocated budget, newly onboarded merchants will be able to access the FaveBiz platform for free. The merchant-centered platform offers a variety of ready-to-use digital solutions which include business insights, cashless payment options, and many more services designed to acquire and retain customers as well as increase sales.
What is PENJANA e-Cashback?
PENJANA e-Cashback is a newly-launched co-sponsored incentive by Fave and PENJANA that serves as an additional marketing budget for merchants in the form of promotion codes.
The difference between Partner Cashback and PENJANA e-Cashback?
Partner Cashback is issued by FavePay merchants to incentivize customers for their next visit. The more Partner Cashback issued, the higher the return customer rate.
PENJANA e-Cashback on the other hand is an additional Cashback that is fully sponsored by PENJANA and Fave for customers to redeem online vouchers and gift cards on the Fave.
How Does it Work for Fave Merchants?
Through this campaign, customers who transact using FavePay will earn RM5 in e-Cashback with a minimum spend of RM20. At the same time, they can enjoy Partner Cashback which incentivizes them for their next FavePay transaction.
Merchants enabled with FavePay can use the promo code ‘PENJANA5’ as a marketing strategy to spur higher sales volume and increase customers’ purchase frequency.
Aside from that, customers will enjoy a 20% instant discount for every FaveDeal and eCards purchase using the promo code PENJANA20.
The e-Cashback and 20% instant discount will be fully sponsored by Fave and PENJANA. Merchants are encouraged to sign up for all 3 services to fully enjoy the benefit of this Micro & SMEs E-commerce Campaign. This campaign aims to help merchants cover the losses incurred during the pandemic and regain back their momentum at a quicker rate.
Why Should You Join the Micro and SME Campaign with Fave?
Aside from the massive budget allocation from Fave and PENJANA, here are a few more reasons why you as a business should join the campaign and be a merchant on Fave.
Drive Growth
Increased sales for all Fave merchants are projected to grow 10x times, with an estimated amount of RM200 million in sales within the next three months with the retail, F&B, and services sectors expected to show the most immediate effect.
Get Maximum Exposure
Benefit from Fave’s existing users and get immediate exposure from the 5 million customers on the Fave platform that will be eager to spend and earn more e-Cashback during the campaign period.
Make Your New Customers Return
Acquire new customers and leverage on Fave’s customer loyalty program to enjoy 70% more return customers as they come back to utilize your cashback and redeem e-Cashback on your eCards or Deals.
Expedite Recovery with Minimal Effort
This campaign specifically helps merchants like you to reduce the amount of labor required to earn sales, reach more customers in a shorter period of time, and help speed up recovery by 2x times more through adopting simple yet powerful digital tools.
Who Can Sign Up
All local micro and small-to-medium enterprises are welcome to join this campaign to facilitate their recovery and collectively contribute to recovering the economy. If you have an eligible business, click here to find out more about this program and how it can help your business grow. You may go to SMEs corp’s website here to understand more about the definition of Micro and SME.
As the Malaysian economy consists of almost 99% of SMEs where they contribute almost 40% to the country's GDP, the MSME E-commerce Campaign aims to help micro and small-to-medium merchants take on new digital opportunities to progress in-line with the nation’s focus on shifting towards the digital economy.
