Luxembourg startup Yollty is expanding its digital loyalty programmes into ecommerce and developing new features to encourage consumers to leave Google Reviews.
Founded in 2016, Yollty first focused on leveraging digital loyalty programmes and customer databases for bricks and mortar stores.
“Now we have started to build fully integrated tools for Shopify, PrestaShop, WooCommerce and a few others, allowing online consumers to experience the Yollty marketing,” said Yollty co-founder and CEO Alexandros Trepeklis, adding: “It enables owners of these online businesses to quickly spawn an online loyalty solution for their store.”
Trepeklis acknowledges the e-commerce business segment is an easier market to onboard because these tech-savvy shopkeepers and service providers already have a digital-first approach to business.
Meanwhile, in March, Yollty will release a feature encouraging store and restaurant customers to leave Google Reviews after positive experiences.
“This is something that has been requested a lot by local businesses because this is how people discover where they want to go. When you land in the city, you do look at Google reviews to know where to eat, for example,” said Trepeklis, adding: “This is where we’re trying to help them utilise their existing happy customers, and incentivise them to do these reviews for them.”
In 2021 Yollty landed significant public-private funding. Since then, the startup has experienced 300% MRR growth year over year. The funding enabled the startup to expand into Trepeklis’ native Greece in 2022 as well as LatAm, with a focus on Mexico, in 2021.
“For most of the startups in Europe, Greece will be one of the last destinations they will try to reach unless they’re Greek startups, because of the language barrier and size. Because I’m Greek, it came at no cost to us. Plus, I have a network in Greece, which makes it easier to grow,” the founder explained.
The choice of Mexico came after Google advertising tests showed a high conversion rate. Yollty hired a local team and is partnering with customers which have multiple locations in Greece and Mexico. Trepeklis said: “This was one of the nice surprises when going to other markets as well.”
Currently, Yollty works with more than 500 locations and the founder hopes to soon balance growth with profitability.