Describe the company, the elevator pitch …
LoyLap is an app based loyalty platform designed to better connect businesses with their customers. Currently businesses have great technology behind their counters to do things like streamline stock ordering and daily accounts. When it comes to the most important aspect of a business, their customers, there is relativity little they can do; we’re changing that.
LoyLap starts by establishing a loyalty system for a business. The loyalty system then goes live on our app ‘LoyLap’ where customers can walk in and get rewarded for every purchase. We can then tweak the system and increase its sophistication once customers are on board using it for a number of weeks.
After that the businesses can start to use our CMS (Customer Management System) to run loyalty and reward campaigns directly to their customer’s apps, and can even let customers top-up their balance for using a debit card (receiving a nice loyalty bonus for doing so) and pay with LoyLap.
How are you different?
A lot of our competition abroad is exclusively focused about getting as many businesses as possible, worrying about the efficiency of their product after. We like to do things the other way around. We offer a great degree of flexibility in terms of the types of loyalty systems we can offer businesses (and we’re adding more every month), and we work with our customers to ensure they are using the most effective loyalty solution for their business.
We analyse the app usage in businesses to determine what’s appropriate for them. For example, after a period of using LoyLap we could suggest a business use a tiered loyalty system to encourage increased visits from customers. The great part is we can set those tiers based on the usage analytics in order for the business to reap maximum efficiency from the system.
Why will the product do well?
The opportunities available to improve systems has grown massively since the Smartphone. One needs only look now at hailing a cab or listening to music now, compared to ten years ago. There is a huge need for businesses to actually understand their customers and keep them coming back, and there is need for customers to be efficiently rewarded (paper cards we’re talking to you!). LoyLap affords the ability to do both of these things and more.
Where are you based, how is the broadband?
We’re based the StartLocal offices in Ballsbridge along with a few other great star-up companies. The broadband could perhaps be better, but the facilities are great.
When was the company launched?
We had an early product in the market in 2013 that we used to test the initial concept. After we saw the product worked and people liked it, we sat down again to improve and rework the architecture of our system, subsequently launching in the summer of 2014.
What have been your biggest wins to date?
Our biggest wins come from user analytics. We love to see LoyLap taking off in new businesses and seeing the numbers grow week on week. The biggest win was getting our first paying customers on board and thinking ‘cool, nice, we’ve created something that works’.
What type of people (market segment) are you trying to attract to your product?
In terms of business customers, our ideal customer is any bricks and mortar business such as a café or lunch place. Anywhere that has low cost – high volume sales has the greatest potential to establish a really loyal customer base.
Tell us about your team?
LoyLap was founded by Conor O’Toole and Patrick Garry. They’ve know each other since 12, having attended the same secondary school and university. Conor is a self-taught programmer.
To make the businesses work we needed to focus on the product first, so we added two top team members to the tech side of the business immediately. Sean Deverell was brought in to head up the iOS development and help Conor out with the back end architecture. Dan Wilson became the gift from god with android programming skills that we have on good authority are better than google.
We wanted to focus on product first because we knew that would make the business work. Ireland is a small place, if you build something good, word will travel and we’ve got new customers from word of mouth which is great.
We’re very happy with the product now as it’s working so well, so we are shifting our attention to customer acquisition for the next batch of businesses to experience the future of retail. This means of course that now we are looking to hire more on the sales side of the business.
What are you long term plans for your product / company?
We want to be the biggest thing to come out of Ireland since the Titanic. We promise we won’t sink on the way to America though.
What are your favourite tech gadgets?
It has to be the phone really. It’s the right size with all the information. Apart from that I think Bluetooth speakers are one of the most inexpensive yet best tech devices you can buy.
What tech gadgets do you wish you could use to help you?
It’s 2015, so probably a hover board. October 21st isn’t that far away now so they get working on it.
How can people contact you?
If you would like to have your company featured in the Thursday edition of the Irish Tech News Business Showcase, get in contact with me on [email protected]