Jeremy and Michael talk through why Yoyo exist and how understanding the customer will help your business grow.
Payment is only part of the process; Yoyo focuses on understanding what the consumer likes and needs, therefore generating consumer loyalty. Different factors are recorded to create a story of why that payment was made and what was purchased – such as what the weather was like that day, or what time of day the purchase was made.
The outcome is ending up with two products – one for the consumer and also one for the merchant. The merchant benefits from a business intelligence tool where they can track who the customers are and what they are buying.
Utilising knowledge of consumer wants and needs gives the merchant the opportunity to grow the business and in turn, make more money.