Wooly Hits 80 Customers, $2m Revenue Helping Brands Turn Customers Into Ambassadors
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What is the main topic discussed in this episode?
I don't know many SaaS that don't go for venture just because of the speed that you need to grow at and kind of the delayed income and recurring revenues. And so when we did agency work with Disney, that company was all bootstrapped and our customers were essentially our seed fund. We'd sell ourselves into profitability. This one, I didn't have the luxury. I wish I could. It's the best way to do it.
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If you'd like to subscribe, go to getlatka.com. There, you'll find a private RSS feed that you can add to your favorite podcast listening tool, along with other subscriber-only content. Now look, I never want money to be the reason you can't listen to episodes. On the checkout page, you'll see an option to request free access. I grant 100% of those requests, no questions asked. Hello everyone, my guest today is Scott Paul. After selling an agency to Disney, he ruined influencer marketing. Thank God. He's now on a mission to change how commerce is done. Word of mouth marketing will finally be measured. He's doing it with his company called Wooly.com. All right, Scott, you ready to take us to the top?
do it all right so what's the company doing is this a pure play sass model it started as a pure play sass but then we realized uh to really accomplish what you just said there to really start this new type of commerce we had to create a consumer application and so uh 2020 we'll see the, the, that come into life. We'll see something where every consumer will be able to participate and in word of mouth marketing in a way that's never been done before. Instead of it being analog, we're going to make it digital.
Okay. Who's, who's paying. So give me a sense of like, tell me the story of a paying customer, right? So are brands using you to find these kinds of micro influencers?
Today? Yes. Today of all the brand, um, like stance socks or skull candy headphones or this purple mattress, this mattress in a box company. They use us right now to discover who's buying from them, like who are these individuals like on social media. And then they actually recruit from their customer list people to represent the brand, to go out there and talk both online, offline about their love of the brand. So it's essentially recruiting your customers to be your
influencers advocates if you will yeah much smarter than reaching out to cold influencers trying to get them you know to convince them to get familiar with your product and then trying to have them do it right so tell me tell me Scott when these folks are paying you like skull wouldn't yeah when these folks like skull candy are paying you right so help walk me through your pricing model a bit what's your kind of sweet spot
Well, what's interesting is that the brand pays to use our software, but the customers of Skullcandy, they're not paid. They're not paid. They're going to be brought into the brand family and given product or credit to buy. Scott, yeah, sorry.
I'm talking about the business.
Yeah, the business is, I mean, we're talking about the monthly SaaS. So you're going to come in for, we have a freemium model, but most of the customers are using us for millions of contacts. And so we have, we're charging for kind of your contact database, much like a MailChimp or a Klaviyo.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–6:31
2
What is Wooly and how did Scott Paul transition from an agency to building a SaaS + consumer product?
6:31–9:14
3
How does Wooly identify and recruit customers to become brand ambassadors?
9:14–12:49
4
What is Wooly’s pricing model and what do typical customers pay?
12:49–20:00
5
When did Wooly launch, how much has it raised, and why did they seek venture capital?
20:00–26:40
Speakers
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