Chase Prather, from techbuzz.new just wrote a rather flattering article about how Wooly helps brands scale their referral efforts. Not only does Prather explain how Wooly drives authentic word of mouth, he explains how Scott Paul's unique experience positions Wooly as the pioneer and thought leader of customer commerce (cCommerce).Here's a snippet of Prather's article:
Social Media Influencers
"...many sales influencers are merely social media celebrities who have been paid to write positive reviews or say something nice in a video about the product. This is a broken system, according to Scott Paul. Trust in social media advertising is low. Paul’s latest startup, Wooly, is trying to change that.
...Paul is no stranger to social media and influence. His previous company, Instafluence, was acquired by Maker Studios, a Walt Disney company. Maker Studios is currently known as Disney Digital Network. Where Maker Studios focused on Youtube influencers, Instafluence covered all social media platforms. Paul saw large companies come in wanting to find influencers to promote their product on social media or YouTube.
'"At the end of the day, these companies were essentially hiring mercenaries and paying them a lot of money to talk about these brands even though they only used the brand for a week or two before going back to their normal routine.” Paul was put off by the inauthenticity of such transactions. “It was not the right thing for the world."'
About one year into working at Disney, Paul met a software engineer, James Davis. They clicked. They knew they wanted to build something but they did not know what it was yet. They started Wooly not with an idea but with a relationship..."
Broken Influencer Model
E-commerce firms frequently obtain new clients by having consumers they've acquired recommend them to others or speak highly of them. Many "influencers" who are paid to say great things about a product on social media, or write positive evaluations of a product, are just social media celebrities who get paid to do so. Scott Paul says that this is a flawed system. Few people actually trust social media advertisements.
Wooly, a Lehi-based software platform, is a game-changer for e-commerce businesses to utilize influencers, incentives, and referrals efficiently. To increase brand referrals, Wooly knows that people who have already used the product—friends, family, and followers—can best influence others in the social circle. Not paid influencers.
Wooly is based on a unique software platform and CRM system that enables businesses to connect customer email lists to social profiles. Wooly allows brands to utilize an app that gives information on their current consumers who they recruit to become brand ambassadors. Together they build awareness and acquire new customers. In other words, when trust, honest content, authenticity, and recommendations are all achieved, sales are natural.
Paul is not a newcomer to the social media and influencer sectors, having worked in both since the industries began. Before Wooly, he was the CEO of Instafluence, which was bought by Maker Studios, a Walt Disney Company subsidiary. Disney Digital Network is known as Maker Studios at the moment. Instafluence was focused on YouTube influencers and covered all social media channels, whereas Maker Studios concentrated on Youtube influencers. Paul saw that major corporations continually entered the market looking for social media influencers to use as marketers for their products.
Ultimately, these firms effectively employed mercenaries and paid them a lot of money to rave about their products, even though they may have only tried the brand because they were hired to do so. The transactions were frequently tainted with inauthenticity.
Rethinking Influencer Marketing
Paul met software developer James Davis about a year into his career at Disney. They had an idea of what they intended to create but did not know yet. Wooly was born out of a friendship rather than an original idea. They started jotting down ideas for the firm on a whiteboard. They only spotted this concept after they had thought of five different ideas. Wooly is the answer to eliminating the deceptive influencer marketing problem and making real influencer marketing the norm.
In the article, The Tech Aspect of Influencer Marketing Software, Davis details the R&D that goes into building a ground-up influencer marketing software.
As far as Wooly is concerned, Paul believes that "c-commerce" is the term to focus on, which refers to customer-oriented commerce.
Wooly focused on software that allows for consumer data analysis and sorting by popularity on social media. At first, it seemed incredible, but it quickly became apparent that we were headed down a rabbit hole.
Paul found that the best of the best didn't even need to be on social media all that much, yet they brought in the most customers. It came down to how much love they honestly had for the brand, and it was clear they had more than enough. Therefore they were hired. This approach lead Wooly to go in a different direction and focus on assisting their clients in determining who the best brand ambassadors are, even if they have a limited social media presence.
While a company's best customers are not usually its most popular clients, successful consumers aren't often ignored. Wooly's statement has since been recognized by businesses, with the revelation that it was the best promoter of a firm that wasn't the most popular or who had the largest following.
Read the full article here: Wooly Rethinks Managing Social Media Influencers