Scott Paul, founder of Wooly, discusses customer retention and churn dynamics with podcast host Nathan Latka.
0:00 / 0:14exact quote · 14.7s
720p mp4 · rendered on demand · StarZero watermark
“Luckily, we've only had one customer churn that was a, you know, I would say a significant customer, and they just, it was sold incorrectly, and it was not a fit for, they were wanting this performance marketing, and it just wasn't working”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Scott Paul
Opinion
Successful founders rarely self-fund their next company
“I look at most most very successful exits They'll still go and raise from the biggest venture companies on their next one. Rarely do they self fund from the observations I've had.”
Scott PaulJul 10, 2020▶ 7:31Wooly Hits 80 Customers, $2m Revenue Helping Brands Turn Customers Into Ambassadors
Insight
Paying cash for referrals ruins trust and word-of-mouth marketing
“We don't think commissions paid to refers is the right idea. We think that breaks the bonds of trust and would ruin a word of mouth marketing, which is the last trusting like way that we learn about products.”
Scott PaulJul 10, 2020▶ 12:30Wooly Hits 80 Customers, $2m Revenue Helping Brands Turn Customers Into Ambassadors
Insight
Two-sided marketplaces have only a 10% chance of success
“I mean, it's a two-sided marketplace. Nothing's gonna, the chances of success are 10%. I've done this long, long, long enough to know, but if we hit 10%.”
Scott PaulJul 10, 2020▶ 15:09Wooly Hits 80 Customers, $2m Revenue Helping Brands Turn Customers Into Ambassadors
PredictionNot checkable as stated
Paul predicts Wooly's new transactional product will triple its revenue
“We're going to have a performance based transit, you know, we're going to get transactional fees from this new product we're launching, and I think it will more than triple our revenue won't be SAS revenues.”
Scott PaulJul 10, 2020▶ 9:43Wooly Hits 80 Customers, $2m Revenue Helping Brands Turn Customers Into Ambassadors
Disclosure
Paul: Wooly aims for a 5% to 10% transaction take rate from brands
“I think potentially five to 10% maybe three at the worst case scenario. And some products won't have anything.”
Scott PaulJul 10, 2020▶ 14:31Wooly Hits 80 Customers, $2m Revenue Helping Brands Turn Customers Into Ambassadors
AssertionNot checkable as stated
Wooly reached $2M in revenue with zero paid marketing spend
“We, I use LinkedIn and we have done zero marketing.”
Scott PaulJul 10, 2020▶ 20:58Wooly Hits 80 Customers, $2m Revenue Helping Brands Turn Customers Into Ambassadors
Made with StarZero
Turn any episode into a week of clips.
This entire site, over 2,600 episodes transcribed, diarized, checked and made playable,
runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the
moments worth sharing, cuts them, captions them, and reframes them for every feed.
We use essential cookies to make the site work. With your permission we
also use analytics cookies (Google Analytics and Mixpanel) to understand
usage and improve StarZero. See our Cookie Policy.