PCM MPE 2017 Special

startup spotlight
providing insight through a product that we built specifically
for a retailer called “Yoyo Engage”. Essentially, it is an insight
dashboard but also a campaign manager and launcher similar
to “Facebook Advertiser”.
This enables retailers to create campaigns based on an outcome
that they would like. For example, one of those outcomes could
be: “I would like to get more sales of product X. To do that, I
need to identify the customer segment which is most likely to
take up that offer.” That’s where the engage platform comes in,
because we can identify that customer segment which is most
likely to buy product X. It could be because; they buy product X
if you give them a discount; they buy product X at a discounted
rate because they bought product Y; (and if they buy product
Y, they’re more likely to buy product X, so you need let them
know that product X is available)
PCM: Where do you see Yoyo Wallet 5 years from now?
Michael: We think globally about what we do but equally,
we are an early stage company going into the 3rd year of our
journey. We need to show that we own a market, so the UK
has been our focus and it continues to be so because it is our
domestic market. With that being said, the best form of an
international expansion is to go where your customers take you
and this is why the US is incredibly exciting for us because we
have customers who want to take us there. The same goes for
Singapore and it is the reason why we are live in Ireland and
Luxembourg. There is nothing that would stop us expanding
into other European markets. However, what we won’t do is
overstretch ourselves as we are very much focused on building
a sustainable business that is going to be here for many years to
come. In order for that to happen, we have to be smart with the
resources we have since we have a really focused international
expansion strategy.
When thinking about the markets we are disrupting, it is
the loyalty market which is completely wide open. Nobody
has cracked it apart from some of the big retailers who have
millions of Dollars, Pounds or Euros to spend on this. No
one has yet democratized this for retail and we think we’ve
got an open opportunity here to democratize true customer
engagement through loyalty for the retailer on a global level.
That’s the market we’re focused on and that’s the field where
we can we add great value. We are here for the sole benefit
of retailers. By putting the retailer first, you are putting the
consumer at the heart of the experience because any retailer
in their right mind would not do anything that doesn’t benefit
their customers. We think that it is a global experience that
5 years from now will make Yoyo a truly ubiquitous loyalty
program manager and scheme that enables the retailers to
become the issuer of unique programs for their customers.
PCM: Any exciting news/announcements you would like
to share?
Michael: We’d like to announce our UK-wide partnership
with Caffè Nero. This partnership does represent a significant
move onto the UK high street for Yoyo Wallet and will further
solidify our position as the UK’s most used mobile wallet. Yoyo
Wallet is already live in 50 per cent of UK universities and
over 100 corporate locations. For more information about this
partnership please visit Yoyo Wallet’s company blog.
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