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Please Rate My Startup - LoyaltySpace.com

loyaltyspace.com

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Re: Please Rate My Startup - LoyaltySpace.com

#2
I'm going to put my startup to the masses on HN and would appreciate any comments, feedback, and ideas!

I have built a system to manage customer loyalty programmes for small businesses.

By implementing my software, they'll be able to:

Improve sales by directly rewarding recurring purchases.

Be slightly more data driven in their approach and marketing - sending tailored offers and marketing.

Use the mobile channel - SMS and Mobile Web to push out offers and build a relationship with their customers.

There is a definite gap in the market for this. I have spoken with tens of potential customers who have looked for a similar system, but have been put off by the high setup costs and tie ins. These are businesses such as restaurants, salons etc, who want to try loyalty marketing but want to be sure of it's use before making any big commitment.

Anyway, would appreciate any comments about the idea, website, sofware etc.

[NOTE: There are still a few rough edges in the software to be cleaned up over the next day or so. My existing handful of customers out of my beta testing and development are on a seperate instances running older software.]

Re: Please Rate My Startup - LoyaltySpace.com

#3

I'm going to put my startup to the masses on HN and would appreciate any comments, feedback, and ideas! I have built a system to manage customer loyalty programmes for small businesses. By implementing my software, they'll be able to: Improve sales by directly rewarding recurring purchases. Be slightly more data driven in their approach and marketing - sending tailored offers and marketing. Use the mobile channel - S…

More background on the idea and my own philosophy here....

http://www.loyaltyspace.com/faq.html

Thanks - Ben

Re: Please Rate My Startup - LoyaltySpace.com

#4
My immediate feedback would be the following: You seem to be trying to sell the idea of customer loyalty instead of what your product do in the field of customer loyalty. (The 5 promotional points on the front page)

Now that is a perfectly valid approach, but I don't think you want to do that.

Instead assume that your customers already know what CL is and instead focus on what your product does that others don't. I.e. what set you apart in the CL field, not just what is great about CL.

Re: Please Rate My Startup - LoyaltySpace.com

#5

I'm going to put my startup to the masses on HN and would appreciate any comments, feedback, and ideas! I have built a system to manage customer loyalty programmes for small businesses. By implementing my software, they'll be able to: Improve sales by directly rewarding recurring purchases. Be slightly more data driven in their approach and marketing - sending tailored offers and marketing. Use the mobile channel - S…

More background on the idea and my own philosophy here.... http://www.loyaltyspace.com/faq.html Thanks - Ben

I really like your copy. Clear, to the point and makes me want to sign up even though I don't even have a business. A bit rough in places but that's ok.

Re: Please Rate My Startup - LoyaltySpace.com

#6
Put a big bright signup button in the main content area. I assumed "Suitable For All Consumer Facing Businesses!" was going to be one.

LoyaltySpace is a complete, simple, and affordable solution that helps small businesses to increase sales by running their own customer loyalty program.

LoyaltySpace supports both plastic card loyalty programs and an innovative mobile phone based loyalty product.

That is a lot about you and a little about them. Successful sales is frequently a lot about them and a little about you. Relatedly, features do not sell software; benefits sell software. Don't tell them that you can "build a customer database" ("I sell freaking pasta, what do I want a database for!? 'Subsequent marketing activity'?!"), tell them the improvement they are going to experience in their lives from using your product. ("You'll get eager customers who want to hear from you giving you their contact details so that you can sell them more stuff.")

Similarly, "Create tailored offers" => "Increase sales by directing the right offers to the right customers."

Re: Please Rate My Startup - LoyaltySpace.com

#8
As a consumer, the last thing I want is more plastic in my wallet. Something like Cardstar (http://www.mycardstar.com/) would be a start, but maybe that's a typical early adopter HN attitude more than a typical consumer response.

Your landing page needs simpler, bigger, attention-grabbing text.

Also, I'll second the comment below about the big bright signup button. The CardStar link above has a nice example that you might draw inspiration from.

EDIT: Just watched a video from a link on HN:

http://www.avc.com/a_vc/2010/05/draw-your-ideas.html

And the website behind Jack Dorsey's new idea:

https://squareup.com/

He makes the point in the video that 90% of America uses plastic to pay for stuff, but only 2% of America can accept payments from plastic sources.

If you can come up with a killer common-sense line like that (and a killer landing page like Square's), that will become the raison d'etre for your concept.

Re: Please Rate My Startup - LoyaltySpace.com

#9
Looking at the pricing, my first thought is "Wow, that's cheap!" I don't know how that converts to US dollars, but it seems way low. I think you'll want to raise your monthly fee considerably, on the order of 2-3x that amount. Or, consider offering multi-tiered pricing (more on that below).

I run a startup (http://doleaf.com) that also deals with small businesses, and they require A LOT of handholding. Plus, they'll always want to talk with you and tell you how to do things (which is both good and bad). All that time should count in your head as work time (believe me, it's way tougher than writing code) and you need to price things as such.

I suggest you definitely consider multi-tiered pricing based on the number of members in the loyalty program. Ironically, I think your bigger clients will probably need less handholding, but they can help subsidize the time you spend working with the smaller ones.

Overall, I think this is an excellent idea. Are you considering accepting customers in the USA? This might be a good fit for some of the nurseries I work with, and I'd be happy to pass it along to them.

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