I recently had the opportunity to interview one of the founders of LoyLap Patrick Garry. LoyLap was founded in 2012 by Patrick and is co-founder Conor O’Toole. They were inspired by the positive response Starbucks had with their initial loyalty app and wanted to make this technology available to businesses which wouldn’t have the resources to create an app by themselves.
Initially their app was trialled with 20 businesses. Of the 20 which initially tried the first beta 10 wanted to pay to keep using their service. Their services are subscription based and customers can cancel their service when they want. Because of this they closely listened to the needs of the customers and reinvested their profits back into the business to develop the product they offer today.
LoyLap allows businesses to market to their customers in an automated way. They offer:
Cost of using LoyLap
It costs €15 per month for their basic loyalty system. If you would like to give your customers a digital wallet and preordering the cost is €40 per month + 2% of any transactions. They can also build a custom app for your business for €1,950.
Who are LoyLaps customers?
Loylap has an array of customers which include: Bear Market Coffee, Bannatyne Gyms, The Dean Hotel, wagamama, The K Club, Rockets by Eddie Rockets, Sprout & Co., Esquires Coffee, Florence Coffee.
LoyLap was able to provide me with a video of one of their customers who shared his opinion on the app. Stephen Deacy of Bear Market coffee had very positive things to say about their app.
“The Bear Market app has all our loyal customers in one place. Customers can preorder their products and receive extra loyalty over other customers. It also allows us to interact with our loyal customers through birthday promotions and new store opening promotions. It is a one stop shop for our loyal customers.”
Opinion on LoyLap
I haven’t used the app but I think it’s a very good idea to help businesses to market to their customers. The LoyLap will allow businesses to focus on what they do best and manage a lot of the marketing and promote greater loyalty among existing customers.
The cost of their service is far cheaper than other means of promotion I’ve used such as print or social media. The fact they can link into POS and automatically recommend products to customers based on their past spend is a very useful marketing tool.
I currently work in a bank and being able to order my lunch ahead is a service I wish more companies offered. It would result in less time queuing and for the business it means they can serve more customers.
Customers can load funds onto their digital wallet which the company can then increase spending power of. For example, if you load €100 you get €115 to spend. The benefit for the company is they receive those funds in advance of the customer purchasing a product. I think this will also increase great loyalty among customers.
I think the app is well suited to retailers who have a lot of repeat sales such as Tesco, Spar, Dunnes Stores and Super Value etc. Being able to suggest products based on past spend will be very useful to increase cross selling among existing customers.