LOKE 2020 Wrap-Up
A WORD FROM TOM
COMPANY OVERVIEW
UK OVERVIEW
APAC OVERVIEW
A Word From LOKE Co-Founder Matt Khoury
A successful business comes from determination, innovation and passion. It is about persisting when times are bad and leveraging the moments that work well.
These drivers do not come from an individual, success is never achieved alone, it is about cultivating like-minded people with similar ideologies and values that strive to be the best version of themselves. This philosophy will bring together a team of people who will best drive innovation, best serve the needs of our clients and most importantly do so enjoying every moment.
“When LOKE is faced with it’s toughest challenges, which have been many, success comes when these people unite together to create and deliver the ultimate outcome for their peers, their customers and the industry they love.”
LOKE is thankful to the people who during a pandemic are still serving homes and those in need, placing themselves at risk to create stability, providing the staples of our economy. Our mission is to help these individuals maintain their livelihood and disrupt working norms that help them create success in a time that for most seem unachievable.
LOKE’s success was only possible because of the amazing individuals that shared this belief.
- Matt Khoury, Co-CEO & Co-Founder
A Word from LOKE Co-Founder Tom Booth
What a year we have had! In March when Covid-19 hit, we lost 90% of our revenue overnight, forcing us to re-evaluate everything we had spent years building.
We were back to the drawing board - a three-person startup, except now with a team of 15 people. It was hard, the whole year has been hard.
What did we learn? Our team has learnt the value of resilience and here at LOKE we are a very resilient bunch. We all banded together, working incredible hours to change our business model and help hospitality businesses change theirs. And you know what? It worked! We have had hundreds of business owners thank us for how much extra money they have made, for how we helped them survive the toughest time ever in their industry, for always remaining positive despite the obstacles we faced.
“What am I most proud of? The team we have been able to build, the feedback I have received from our clients, and the number of times we went above and beyond client expectations to ensure each of their unique problems were solved.”
It has brought tears to my eyes to see the genuine empathy shown amongst staff and partners as they have battled and overcome personal struggles in the midst of this pandemic.
It is the passion, resilience, and dedication of many that assists LOKE to adapt, scale and continue delivering the most successful outcomes. I would like to thank each and every one of our clients and team members, new and old, who have helped shape LOKE into the business it is today.
Tom Booth - Co-CEO & Co-Founder
Company Overview
Like all businesses, 2020 represented a significant challenge for LOKE. However, with every challenge comes an opportunity.
Covid-19 presented the hospitality industry with the need to digitise to adapt to the health and economic crisis. Fortunately, we already had the platform, tools, and people ready to go.
“LOKE was able to elevate our business model, creating a new way to better service and invest in our merchants and their success.”
The results speak for themselves, not only for our business but for our merchants.
Having nearly 2,000 sites across the UK, Australia, New Zealand and Singapore, our business has seen over 250% revenue growth. This has been matched by a 280% increase in monthly transaction volumes handled by the LOKE platform. Our merchants have seen over a 30% increase in average spend per customer, and a 3 times increase in visit frequency.
- Ian Blekkenhorst, Chief Financial Officer & Company Secretary
UK Overview
2020 in the UK hospitality industry has been like no other.
Whilst LOKE was already on a strong upward performance trajectory at the start of the year, the Global impact of Covid-19 has taken things to a whole new level.
Our Order at Table technology has now become the industry standard here in the UK whilst our takeaway and web-based features have also massively stirred-up the aggregator markets once controlled almost exclusively by Deliveroo, Uber and Just Eat. With an unrivalled portfolio of technology features live in the market, 2021 is set to be LOKE’s most exciting year on record! Watch this space!
- Rob Pickering, Operations Director
APAC Overview
The Australian hospitality industry, like many the world over, has undergone a rapid digitisation.
The industry in Australia, New Zealand and Singapore had already started to adapt with many key industry leading organisations adapting to technology as part of business as usual. As a result the number of web based order to table and order ahead products on the market is large compared to the market size.
What LOKE experienced was the difference in our product compared to a simple ordering product. LOKE merchants benefited greatly when Covid-19 hit, as they had a database of customers ready to be communicated to about the changes to their business and the ways in which loyal customers could support them.
“Our clients emerged from lockdowns with the full stack of features our product offers, allowing them to not only transact safely within health guidelines but offer value ads and marketing benefits to help them stand out from the crowd.”
The future is bright for customers of LOKE who have embraced technology as part of their hospo experience, not just in APAC but globally as well.
- David Renouf, Global Head of Client Services
Client Success
Like many things that have developed during Covid-19 at LOKE, the Client Success team was born out of the growing need for hospitality businesses to evolve and thrive during a pandemic.
The Success teams across Australia and the UK work with LOKE clients to maximise the functionality, features and versatility of their platforms.
“Our role is to support the brands we work with to achieve revenue growth, boost customer retention, increase customer frequency and create a platform that best represents their brands’ ethos.”
Collectively with over 100+ years experience in hospitality, marketing, sales, design and retail - we are a combined force, helping clients achieve success in a way that only LOKE can.
- Rebecca Shannon, Client Success Manager AU
- Cy Mani, Client Success Manager AU
Onboarding
With the face of Hospitality changing alongside the unprecedented events of 2020, onboarding has played a pivotal role in supporting LOKE’s businesses through this time.
Our move to contactless, online ordering lead to a substantial increase in the number of clients keen on introducing an online menu and loyalty system into their business.
“Our team grew to ensure we could help each and every client adapt and continue trading throughout lockdown periods.”
In many cases, we were able to provide an online ordering system for new clients within a few days of signing up!
As Hospitality continues to reopen, the connection that LOKE has facilitated between these businesses and their customers puts them in good stead to continue to grow and bounce-back (with loyal customers!) in a post-pandemic world.
- Mimi Coxon, Account Coordinator
- Richard Duff, Account Coordinator
Product & Engineering
2020 was a wild year. The world changed in unpredictable ways, along with our clients and their needs.
Plans were put on hold or discarded in an instant while we explored new avenues. We turned out some unexpected features which have helped us service these changing business needs, and significantly reduce the time it takes to get customers up and running - faster app provisioning times, Stripe Connect payments, web-based ordering, and delivery options.
“These have also allowed us to test out the waters in previously uncharted territories for LOKE, which have gone on to help us understand how we can best serve our customers. ”
All these new features are now here to stay, and next year we’ll be hitting the ground with a stronger product vision than ever.
- Dennis Williams, Chief Technology Officer
- Sam Churchill, Product Manager
Sales & Marketing
Many industries were faced with a host of challenges during the Covid-19 outbreak, and the hospitality sector certainly was no exception.
While many business owners made the heart-wrenching decision to close their doors indefinitely, LOKE helped businesses not only survive, but thrive, during the pandemic.
Improving efficiency and streamlining operations has long been LOKE’s objective, but 2020 enabled LOKE to assist businesses pivot their operations to comply with governmental guidelines to maintain their revenues.
“LOKE technology has proven bulletproof throughout the various levels of restrictions. ”
From heavy lockdown, where the sole means of trading was via Delivery and Click & Collect, to the easing of restrictions where contactless ordering and traceability could be achieved through Order at Table.
We have seen the hospitality sector innovate and adapt more than ever before. From curfews to government schemes, each challenge unveiled an opportunity to innovate and consider previously unexplored avenues. With a year of innovation under our belt, we look forward to navigating ‘the new normal’ in 2021!
- Jemma Pope, Marketing & Communications Manager
- Rachel Richardson, Head of Sales UK
