We have seen the evolution of content creators across social media with the varied forms of content available today. Collaborations & paid partnerships, shoutouts, mentions – these are terms you often hear when conversing with social media influencers. The world is in the hands of creators and those that have seen and heard.
One of the most sought-after career options today is becoming an Influencer or a Content Creator. It is a job-driven by passion, achieving fame and validation, living a dream lifestyle while earning good money. It is bedazzling to look at and a challenge to be one. But if you thought this was it, we urge you to think again. What we are witnessing today is just the beginning; the creator space is set to explode! There are influencers galore, and their social media feed is lapped up with demand for more and more content. Everything from what the influencers wear, eat, use and interreact leaves an imprint on their followers.
The consumer market is rising; companies are ready to offer a sleuth of services and products. A formal marketing channel is put into practice today instead of the rise of a generation of influencers with direct links to followers. This could be a long process with a significant payment exchange.
Enter WYLD and its vision of equipping India’s uncountable nano and micro social media users with sizable followers.
How did WYLD come to be:
WYLD entered the creator economy 3 years ago, believing that the future of eCommerce growth and innovation will be creator and influencer-led. Working closely with all stakeholders in this industry: influencers, brands, and digital agencies, WYLD made significant inroads into giving users a new platform to use and monetise their social. In the short duration of time since its inception, they have worked with 100+ brands, onboarded 10k influencers with a combined social media reach of 64+ million people. They’ve also launched India’s leading influencer magazine – Influmagnite.
“We believe everybody has a circle of influence, and at WYLD, we aim to help active social media users in India monetize that influence. We envision a world where someone with as little as 1000 followers can get paid for giving a shout-out on social media, about their latest purchase or experience, and become ambassadors for their favorite brands, creating user-generated content at scale. The possibilities are vast, and needless to say, we’re very excited to have some of the best VCs and tech founders in the country who share our vision and have backed us!” says, Dishant Sanghvi – Co-Founder & CMO of WYLD.
While looking for opportunities to connect with influencers, the realisation hit that there is no greater evangelist for a brand than their customer. Everyone has a circle of influence; family, friends, and social media reach. Utilising that influence would increase the customer base of any brand automatically. This translated to collaborations with the scope of more customer reach organically.
WYLD was therefore born out of a desire to define audiences – who is a wildcard, an extra in the world of basic, a dreamer, who can ask ‘Why not?’ instead of the accepted ‘Why?’ In short, they wish to define the unique and the eccentric and help them lead an eCommerce marketing revolution of a different level.
WYLD – The creator friendly platform
The WYLD business is built to allow everyone to leverage their network. By introducing India’s first social currency card, the brand enables active social media platform users to monetise their social influence.
WYLD is a VISA-powered physical payment card designed exclusively for social media users. They have two basic eligibility criteria to become a WYLD cardholder – a) Have a following of more than 1000 followers on Instagram and b) Be an active user on Instagram. To measure the user activity of an account, WYLD uses its AI-based social scoring algorithm.
For those looking to apply for a WYLD card, all you need to do is visit their website or mobile app and join the waitlist. You will be required to leave your email ID, and Instagram handle. It’s as simple as that.
But hang on, you didn’t think it would be that straightforward, did you? There is a verification process, post which you are accepted into the program. On acceptance, you will immediately be issued a digital card, following which, a physical card will reach you within 4-7 working days. The WYLD card comes in two versions; a pre-paid card or a credit card depending on your choice. Using the card, you can start making online purchases and earn right away unlike the traditional method where you have to wait for a sizable follower list to build up before you can start monetizing your platform.
You can start monetizing your platform with as little as 1000 followers, unheard of currently, but made possible with WYLD.
Market insight on the creator community:
Currently, collaborations or paid partnerships work to approach the influencer through direct messaging them (DM) or approaching a marketing agency to help the brand run their social media campaign. Both require a lot of communication before anything substantial happens.
Influencers spend a lot of time and energy building up their followers and spend lavishly to afford the lifestyle they project on social. However, with the WYLD card, an everyday user can become a marketer for the company they purchase products from and start earning from day 1.
There are no products in the market that allow everyday social media users to leverage and monetise their following. WYLD is the ONLY platform focused on building a new way of marketing. They’re the only platform that boosts sales for the brand, has an effective word-of-mouth marketing strategy, and guarantees a minimum of 10x ROI.
Understanding the cashback program:
When a user purchases from a wide range of offline & online partner brands, using the WYLD card, the choice to post about this latest purchase lies with them. Should they choose to post about their purchase, they earn substantial cash-backs depending on their social clout. The higher their social reach, frequency of posts, and engagement, the bigger the cashback. This parameter is measured by their WYLD score, a proprietary social scoring system. It ranges from 30% cashback up to 100% of purchase value subject to their social media reach.
Gearing up for the BIG launch!
Slated to launch the app to the general public in August ’22, the Beta Launch starts in May ’22. A group of users will be handpicked to test the end-to-end functionality. They will make purchases from different brands, make posts and receive cash-backs.
WYLD is building an organic waitlist of users for their platform and is onboarding brands. They’re identifying brands from all verticals that would hold value to users – Fashion, Fitness, Health and Beauty, Food and Beverages, Home Décor, and more verticals.
An exciting aspect is the gamified referral and ambassador program that makes people move up the waitlist when referring others. This is brilliant because entering this program and getting a hold of the WYLD card is only after going through a waiting and vetting process. To have the option of moving up the waiting list is a bonus.
A vision that investors back
WYLD’s vision is to build the future of social currency. They want to become the largest community of Nano and Micro social media users in India, who are shoppers and marketers. With a strong belief in the power of people, WYLD is building a platform that allows everyone to leverage their influence with every purchase they make.
Data always wins. Armed with data of their user’s shopping habits and patterns, they intend to bring more value to their users via options from brands they would like to choose from.
Having caught the interest of some leading early-stage Venture Capitalists in India, WYLD recently closed their pre-seed round, having raised $ 350K, at a valuation of 2.3 M. Their partner VCs are led by Better Capital and joined by Plan B Investors, Capital A, and Singularity Holdings. They’ve also onboarded some strategic angel investors, who would add immense value to building the brand, founders, and entrepreneurs. Some of them include Aman Gupta & Sameer Mehta (Boat), Influencers like Nikunj Lotia (BeYouNick) and Malini Agarwal (MissMalini), Marketing Agency founders like Rohit Raj (The Glitch), Aditi Srivastava (Pocket Aces), and Pranay & Julie (Chtrbox), Serial Entrepreneurs like Sumit Chhazed (OTO capital), Nav Agrawal (Clipp).
What can you expect from WYLD going forward?
Using social media influencers was considered an experiment during the initial social media days. It was considered a way of popularising a brand rather than a direct marketing channel. However, there is now no denying the importance of influencers and creators and their influence over their followers. Companies are allocating more budget to use for social media collaboration and tie-ups. With the stage set for the creator market to explode, this section will have exponential growth. More brands will turn to social media users as a way of marketing, and there will be more direct interaction between brands and users. And at the centre of all this action is WYLD, bringing change and easing the way while they redraw the future of eCommerce.
