Yollty is a platform that helps businesses incentivize their customers to engage with their social media pages, visit their businesses and provide them with feedback. Co-founder Alexandros Trepeklis gives us more insights into his solution. (Featured image: Alexandros during Rockstart Answers’ event in Luxembourg © Silicon Luxembourg)
What is the purpose of your startup?
Yollty will create a link between the offline (physical) stores and the online world and by doing so, provide a better experience for our users and increase sales for our partners.
What products/services do you offer?
We provide a platform that helps businesses incentivize their customers’ engagement by automating the process of rewarding activities such as posting on social media, visiting stores and writing feedbacks. Additionally, by collecting and analyzing all this information we provide our clients with a dashboard that helps them understand better their business. Finally, we provide businesses with an easy way to send targeted messages to their customer segments, based on different criteria such as “number of days from last visit”, “current distance from the store”, etc.
On the other side, our end users get a free application for Android and iOS that allows them to perform the aforementioned activities and collect points that they can then redeem towards gifts.
What is your business model?
Our business model is very simple; we charge a small subscription fee per month to the businesses and take a commission on each Yollty point they grant to the end users. Each business can decide how many points per activity they would like to reward their customers with (e.g. 10 Yollty points for checking in on their Facebook page).
Who are your customers/clients?
Yollty targets small and medium businesses as well as franchises. Our main clients are retail shops, restaurants, cafés, bars and gyms but our solution could work with almost any type of commercial business that has some type of stores/physical locations.
Who are your competitors?
In Europe there is no significant direct competition at the moment. Most solutions are focusing on payments and rewarding customers for buying products but not the type activities we reward. In the US there is already few players, with Shopkick being the leader in this area. They have 15M users and are currently trending higher than eBay and others in the Android and iOS app stores.
What are the next steps of your strategy?
Once we prove the model in Luxembourg we are planning to expand in other major capitals of western Europe such as Paris, Berlin, Brussels and London and at a later stage to the rest of Europe.
I would like to take the opportunity to invite your readers that might be interested in our solution to an exclusive offer of a free trial for two months. They can contact us to take advantage of this offer.