Everybody is making more
money than they've ever
thought they could make off of
Speaker:one piece of content in their
life, right? They're like,
Speaker:I posted a five second video and retired,
and everybody's like, congratulations.
Speaker:Well, hello and welcome to another edition
of the E-Commerce Evolution podcast.
Speaker:I'm your host, Brett
Curry, CEO of OMG Commerce,
Speaker:and today we have a returning guest.
It's going to be an amazing episode.
Speaker:I have Miss Liz Saunders back again
Speaker:with a new title and a lot of new
developments that I can't wait to unpack,
Speaker:but she is now the president of
the creative division at Wayward.
Speaker:Talk about what that means and why
she's doing that. But with that, Liz,
Speaker:welcome to the show and how's it going?
Speaker:Thanks, Brett. It's going so good.
I mean, it's been, I guess a little,
Speaker:almost two years since we chatted,
Speaker:so this is a really fun
opportunity to reconnect.
Speaker:It's so crazy when I first thought, man,
I should have Liz back on. I thought,
Speaker:well, it's been just a few months.
And then I looked and yeah,
Speaker:it's been almost two years, which that's
just the way life and e-comm goes, man.
Speaker:It just goes by so stinking fast.
Speaker:It feels like yesterday and
seven years ago simultaneously.
Speaker:Right? 100%. That is
100% true. Yeah. Yeah.
Speaker:So you've had a really big year, Liz.
Speaker:We were both at Solar
Summit in Fort Lauderdale.
Speaker:You were the closing keynote of
that event, which is a major honor,
Speaker:so kudos to you for that. You
sold your company Fluencer Fruit,
Speaker:you sold to Wayward, which is where you
are now, so I can't wait to unpack that.
Speaker:And now you get to be on this show twice
in a couple of years, so it is a big,
Speaker:big year for you, so congratulations.
Speaker:Thank you. Thank you.
Speaker:Yeah. Yeah. Which by the way, what was
that, given the closing keynote, was that
Speaker:kind of a bucket list thing?
Speaker:Was it something you wanted to do or
something you're really nervous about?
Speaker:Kind of walk us through that.
Speaker:Kind of all of those things,
honestly. Well, not Bucket List,
Speaker:that's the one that I'll say,
and this was part of my keynote,
Speaker:was when I started with
Seller Summit. I mean,
Speaker:it's was my entryway into
e-comm, and when I started,
Speaker:I was running registration and
was just a new Amazon seller,
Speaker:and my whole life was kind of in flux.
Speaker:And so never did I ever think, oh, I
would like to be closing keynote, right?
Speaker:Go from run of the admission table years
and years ago to now doing the closing
Speaker:Genome.
Speaker:Checking Bunch badge. And now
it's like, and here you're as the,
Speaker:so I will say it definitely wasn't
something that I initially was like,
Speaker:that's what I want to do. And also
when we got closer, it was like,
Speaker:that would be really cool.
Speaker:And in talking to Tony,
Speaker:because they had a scheduling change
with the original closing keynote,
Speaker:and she was like, you've been traveling.
Who do you see? And I kind of was like,
Speaker:I'm going to pitch myself. I was like,
Speaker:I'm a rags Riches seller Summit
full circle moment. Heck.
Speaker:And she was like, I like
it. So they took it and.
Speaker:Amazing.
Speaker:It was nerve wracking,
but it was really fun.
Speaker:If you're ever going to do
something that big, being in your,
Speaker:I would call it our home audience,
those are my people, is like.
Speaker:Yeah, everybody's rooting for you.
Everybody was cheering for you.
Speaker:It was a perfect.
Speaker:Environment, so nerve wracking,
but also if you fall on your face,
Speaker:they're still going to love you.
So it's a little ambivalence.
Speaker:Takes some pressure off for
sure. So yeah, it was great.
Speaker:And your background is Jungle
Scout. You're a successful seller.
Speaker:You've been doing Seller Summit
now, doing some really cool things.
Speaker:And then a few years ago you had
this idea, let's build a platform.
Speaker:You called it Fluencer Fruit,
that's the company you just exited,
Speaker:which I want to hear all about the exit
because I just know so many people we're
Speaker:kind of in the m and a game
we're looking to acquire.
Speaker:I know a lot of people
that are looking for exits,
Speaker:and so can't wait to unpack that a
little bit. But for those who don't know,
Speaker:what is flu fruit and then how
does that fit into the wayward
Speaker:ecosystem?
Speaker:Absolutely.
Speaker:So Fluencer Fruit is an extension
that helps content creators on or in
Speaker:the Amazon Influencer program
helps them do product research,
Speaker:and it helps them manage
their video library.
Speaker:So that's the fastest way to explain it.
Speaker:It's a Chrome extension that just helps
visualize all of the things that you
Speaker:care about for onsite content
in an easy to digest fashion.
Speaker:Nice. And so what are
you seeing right now,
Speaker:and we'll talk about how
this fits in with Wayward,
Speaker:but what are you seeing right
now with Amazon Influencer?
Speaker:I know this has been an initiative
with Amazon for a while.
Speaker:Amazon's always trying to
solve the problem of discovery.
Speaker:How do we get customers
to discover new products?
Speaker:They still mostly rely on search. They're
looking for things to go beyond that.
Speaker:But what have you been seeing
with Amazon Influencer as of late?
Speaker:Yeah, so it's interesting because I
think there's two pieces to that coin,
Speaker:which is where it's like they're
trying to solve for discoverability,
Speaker:and they're also trying to
solve for authentic feedback.
Speaker:So we have seen a lot of
change for written reviews,
Speaker:and I use it in quotes because are
they really reviews from customers?
Speaker:Amazon's been fighting that.
Speaker:Battle. Is it a real person?
Is it someone overseas?
Speaker:Is.
Speaker:It just fake? It's a
bot. Yeah, yeah, yeah.
Speaker:It's like a competitor being
paid to leave one star reviews.
Speaker:So they've been trying to simultaneously
solve both of these things.
Speaker:And so where I see the onsite content
being the biggest win for them
Speaker:is its authentic user
feedback for a product.
Speaker:And so in a way, it does battle
some of those paid for bad good,
Speaker:whatever reviews with really
authentic conversations in video.
Speaker:The other thing is from.
Speaker:A, so it's not just a discovery thing,
Speaker:it's also like a conversion
piece as well, right? Yes.
Speaker:And lending real feedback for a
specific product that should help with
Speaker:conversions or.
Speaker:Purchases.
Speaker:So the onsite piece up to this point
has been almost 100% on the conversion
Speaker:side.
Speaker:It's like you're paying all these other
places to drive traffic to the listing.
Speaker:This is the one thing that they let you
do that helps with your conversion rate.
Speaker:But something interesting that they're
playing with in way of discoverability is
Speaker:surfacing these videos in search results.
Speaker:So every once in a while, and
they're still, I think, testing,
Speaker:we don't see this consistently,
Speaker:but every once in a while
you'll be searching and
instead of a main Amazon image
Speaker:product picture,
Speaker:you'll see a video that's
obviously not a brand videoing.
Speaker:So I do think that they're
trying to pull that in.
Speaker:So there's no way at the moment
for a brand to influence that.
Speaker:But if you have those videos,
Speaker:perhaps Amazon's going to grab that and
display that on a search results page?
Speaker:Yeah, correct.
Speaker:I call those miscellaneous placements
because we don't have any insight into
Speaker:them. Amazon never tells
us when they're doing them,
Speaker:but we see them and they'll just
plug our content into all of these
Speaker:placements, just I think to
test conversion and see how
much they help or don't.
Speaker:Got it. We do a lot on the
Amazon advertising side,
Speaker:huge fan of the ads ecosystem,
love sponsor brand video.
Speaker:You be called video and search.
What are you seeing, if anything,
Speaker:from your perspective on brands using
some of this influencer content,
Speaker:these influencer videos, and running
those ads, sponsor brand ads?
Speaker:So this is really interesting
that you asked about this.
Speaker:I do office hours with my
subscribers every Thursday,
Speaker:and we were talking about this
morning. So out of curiosity,
Speaker:are you seeing the ability to put
money on influencer content through
Speaker:the ads console?
Speaker:Well, I don't run the campaigns
myself, so I'd have to ask my team.
Speaker:I've not heard anyone mention that yet.
Speaker:But is that maybe in a beta right now?
Speaker:So 18 months ago, they sent
us a bunch of questions,
Speaker:would you rather this for three months
to license your content to a brand or
Speaker:this for six months? And
they did this whole whatever.
Speaker:And now in the backend, on the
creator side of Creator Connections,
Speaker:we have a licensing tab, but it's blank.
Speaker:So.
Speaker:Where I think they're going is
to allow brands to kind of let
Speaker:run traffic to creator
content through the actual
Speaker:Amazon ads platform. So I was wondering
if you guys were seeing it in beta yet.
Speaker:And then pay a licensing fee potentially
to the creator is the way that might
Speaker:work?
Speaker:That's what we're guessing.
Speaker:Yeah.
Speaker:So either they would pay a licensing
fee or the way it works now is if I'm a
Speaker:creator, an influencer,
I post content about,
Speaker:let's call it a coffee product on Amazon.
Speaker:If someone views my
video and then purchases,
Speaker:I get some kind of a commission
for that. Is that correct?
Speaker:Correct. Yep.
Speaker:Yeah. And what does that commission
look like? Are there ranges?
Speaker:Does it depend on me as an
influencer? How does that look?
Speaker:There are influencers who
have their own rate cards,
Speaker:but those are the super producers.
Speaker:So your average creator,
Speaker:it gets between one and 4%
for those onsite commissions,
Speaker:and it's tagged by category.
Speaker:So however you as the
seller have decision trade.
Speaker:If your nursery bookshelf
goes in furniture or in
Speaker:kids, those are two different
commissions. For the onsite creator,
Speaker:it's either 4% of furniture or two
and a quarter percent for baby stuff.
Speaker:Interesting. I wonder why,
Speaker:any insight into why those commissions
are different for different categories
Speaker:for influencers?
Speaker:I have no idea. I mean, I'm
assuming that Amazon has discovered.
Speaker:Margin profile for those categories,
maybe something like that.
Speaker:I kind assume that they tag it based
on the difficulty to sell and drive
Speaker:traffic. So baby stuff
sells all day every day.
Speaker:They don't need to incentivize people.
Speaker:To that's.
Speaker:Sell that stuff. Whereas furniture, how
many people are selling bookshelves?
Speaker:Right?
Speaker:That's my guess.
Speaker:Yeah, makes sense. So what
have you seen change then?
Speaker:So you started Influencer Fruit, what
is it, a little over two years ago?
Speaker:Is that right? And so what have you
seen shift, what have you seen improve?
Speaker:What have you seen change in terms
of the Amazon influencer program?
Speaker:Yeah, I think it's in the influencer
program as well as just in product focused
Speaker:content in general.
Speaker:Right now we're kind of seeing this
moment of what I call infrastructure
Speaker:stabilization. So we've
been in Blue Ocean,
Speaker:everybody is making more
money than they've ever
thought they could make off of
Speaker:one piece of content in their
life, right? They're like,
Speaker:I posted a five second video and retired.
And everybody's like, congratulations.
Speaker:So now we're in between TikTok shop
affiliate and Amazon Influencer.
Speaker:We're seeing a little bit
of, it's not a slowdown,
Speaker:but they're pulling back to create the
infrastructure that will build the long
Speaker:term of the programs.
And so we're seeing people having to
Speaker:adapt to how they're making money.
So what we're seeing working is,
Speaker:I call it commission stacking, where
from the same piece of content,
Speaker:I want to optimize how many
ways I can make money off of it.
Speaker:Will the brand pay me for it?
Will they send me a product?
Speaker:Do they have additional commissions
available through Creator connections or
Speaker:Wayward? What are their sales?
Speaker:Just trying to think through as opposed
to just picking a product and creating
Speaker:content for it, thinking
through the big picture.
Speaker:Are they on TikTok and Amazon? Can I
create cross-platform content for them?
Speaker:Yeah. So what about from the brand
side? So if I'm a seller on Amazon,
Speaker:how should I be thinking
about Amazon influencers?
Speaker:Should I be going out pursuing recruiting
influencers? What should I be doing?
Speaker:So if you're on the brand side,
Speaker:the first thing you want to do is make
sure your brand registered and that you
Speaker:have uploaded at least one product
video or brand video to every listing,
Speaker:because that unlocks that
upper video carousel placement,
Speaker:which is the number one converting thing,
Speaker:thinking about the fact that
video converts better than text,
Speaker:and UGC converts better than brand videos.
Speaker:Totally.
Speaker:So getting that above the fold close to
the buying decision is always positive.
Speaker:The next piece that just
opens the real estate,
Speaker:the next piece is actively
working with Amazon influencers
Speaker:is really a cool opportunity
where TOS compliant and we're FTC
Speaker:compliant and we're not a black box. So
it's not like the Vine Review program,
Speaker:which I understand
holds a necessary place,
Speaker:but you can't talk to Vine
reviewers. You can talk to us.
Speaker:So if you have something,
Speaker:people keep returning this coffee product
because they don't understand that you
Speaker:have to clean the filter this many
times a week or the coffee tastes bad.
Speaker:It's like, well, as a content creator,
I can go in and be like, you guys,
Speaker:number one mistake that I've made with
this is I didn't clean the filter and it
Speaker:hits different when I say
it than when the brand does.
Speaker:It. It does, it does. But then
you can also say, Hey, it was.
Speaker:Really.
Speaker:Easy to clean, and man, now I get
the perfect cup of coffee every.
Speaker:Time, user error type of thing, error.
That's on me. You know what I mean?
Speaker:Much more acceptable coming from
a user where you're like, oh,
Speaker:it's normal to do this rather than
the brand is making me do extra work.
Speaker:Exactly. Totally makes sense. Yeah,
Speaker:and we've leaned into this
for some of our brands.
Speaker:It's something that we can help with
where we go out and find influencers.
Speaker:And so I know for a
particular betting client,
Speaker:it's been really effective
for 'em. Good. But yeah.
Speaker:Any other things you've seen
change or shift from a brand's
Speaker:perspective, or actually, I may have
cut you off. You said open up videos,
Speaker:open up the carousel, brand registered,
get brand, open up that carousel.
Speaker:Then what else should brands do?
Speaker:Well, I think the brands finding a
way all watching everybody trying.
Speaker:Everybody's always trying to be more
efficient with their spend and how they
Speaker:fixing their margins,
whether it's tariffs,
Speaker:whether it's changes in terms of service,
Speaker:whatever the current
challenge is around margins.
Speaker:So some of the things that we're seeing
brands do in way of new opportunities,
Speaker:creative problem solving around this
is working with creators directly.
Speaker:So you have more control
over those conversations.
Speaker:And sometimes that means pulling
the actual transactions so that
Speaker:they're outside of Amazon,
Speaker:meaning I'm paying you a flat fee
for this as opposed to whatever,
Speaker:but then I can use your content or.
Speaker:Working.
Speaker:With a company like Wayward where
you can use brand attribution
Speaker:links to get the referral bonus to
offset the commissions you're paying to
Speaker:the creators. It's like a win-win win.
Speaker:So explain that a little bit.
Speaker:I know hardcore Amazon sellers know
exactly what you're talking about,
Speaker:but for those that are less familiar.
Speaker:For sure.
Speaker:What is that referral bonus?
Speaker:Absolutely.
Speaker:So the brand attribution link is basically
a brand's version of an affiliate
Speaker:link. Amazon wants you to drive
traffic when you drive traffic.
Speaker:They've done something where they'll
give you a brand referral bonus.
Speaker:They're not cutting you a check,
Speaker:but they're cutting back on the amount
you're paying them for the referral fee,
Speaker:and it's usually around 10%. That's
not standard or that's not global,
Speaker:but that's approximate.
Speaker:And so what happened in this
conversation was brands were like,
Speaker:if we drive traffic, we don't want
to pay for you to drive traffic.
Speaker:And Amazon was like, you're right.
Here's how we'll solve that.
Speaker:But then it was like this other
piece entered the chat and was like,
Speaker:brands would be happy
to pay creators almost a
Speaker:hundred percent of their margin
for that first sale to get a new
Speaker:customer.
Speaker:And so this allows people wayward
will take your brand attribution
Speaker:link, then what the creator is using,
Speaker:you are getting the brand referral bonus,
Speaker:and then you can pay the creator a higher
percentage than if they're just going
Speaker:through Amazon affiliates.
Speaker:Because why not? That's free
money you're getting from Amazon.
Speaker:Why not pay that to a creator?
Give them more incentives,
Speaker:fuel your growth there
through influencers. So yeah,
it makes a ton of sense.
Speaker:Yeah, I mean, it's such
a cool opportunity.
Speaker:It incentivizes. It's a
literal, everyone wins, right?
Speaker:Yeah. Yeah. Super cool. Good.
Speaker:Have you seen more and more
brands adopting Amazon influencer?
Speaker:Is it still kind of slow to pick
up? How has that been going?
Speaker:It's a lot of education conversations.
Speaker:It's interesting because
Speaker:I think this is not uncommon,
Speaker:but Amazon will launch a program and then
it kind of takes on its own side life
Speaker:from what they initially intended
it to be, which is great, right?
Speaker:Because it is its own
living organism, right?
Speaker:Sure.
Speaker:Because of that, though, I think,
Speaker:and I don't have anybody at
Amazon that's told me this,
Speaker:but I think the way they initially
designed this program was to be a much
Speaker:tighter sister to the affiliate program.
Speaker:So affiliate being the
people driving the traffic,
Speaker:influencer being the people who
are helping convert the traffic.
Speaker:And I think they initially thought that
this was going to be like a one for one
Speaker:people. Were going to be doing
both, but it's become a very,
Speaker:there are people that do both, but
it's become a very separate skillset.
Speaker:The difference between if you're on a
product listing and me helping you make
Speaker:that buying decision is much different
than me on my Instagram being like,
Speaker:these are my favorite
wrist wraps when I lift,
Speaker:you should go check out their stuff.
Speaker:It's almost like a
different selling motion.
Speaker:Totally, totally. Yeah.
Speaker:You're more demonstrating the product
on that product detail page and showing
Speaker:how it works. It's a little
more education type of thing.
Speaker:Someone's already in the store,
they're already talking to you,
Speaker:where if someone's on TikTok or elsewhere,
Speaker:you got to convince them to go to the
store to check it out. Exactly. So yeah,
Speaker:different feel.
Speaker:And so what you're finding when Amazon
is finding is that's often a different
Speaker:person.
Speaker:So the person running TikTok influencer
content is maybe different than the
Speaker:person who's doing Amazon Influencer
or it's maybe the same person,
Speaker:they're just creating different
content for different places.
Speaker:Yeah, it's a combination of those
two things. But yeah, it is.
Speaker:It's like if I'm on TikTok, I'm trying
to get you moving and to click on a link.
Speaker:If I'm on an Amazon influencer or if I'm
on an Amazon product listing, I'm like,
Speaker:check out how I can
push up this shade tent.
Speaker:It just clicks right into place on my
TikTok. People don't care about that.
Speaker:But on the product listing,
Speaker:if you're five four and you don't know
how you're going to set up this tent by
Speaker:yourself, you want to see how I can
do it. And so it has more educational,
Speaker:more faq, more like feature based, then.
Speaker:It's more feature rich where the
content to get someone to go to the
Speaker:store that's got to be more benefit
oriented, more action oriented.
Speaker:You're moving someone,
Speaker:and then on the page there's
kind of overcoming objections,
answering questions,
Speaker:talking about features, helping them
decide between this product, your product,
Speaker:versus a competitive product.
So yeah, makes a ton of sense.
Speaker:How then are you seeing this pair? And
we've sort of just talked about it,
Speaker:but TikTok shops obviously it's huge.
Speaker:We have some clients that have
exploded with TikTok shops.
Speaker:It's also not for everybody. Amazon's
got their own affiliate program.
Speaker:I'm really excited about
YouTube's affiliate program.
Speaker:It's basically their
answer to TikTok shops.
Speaker:We're doing some early testing here.
Speaker:It's.
Speaker:Been very favorable, but it's early days.
Speaker:So how do you see these things
working together and how would you
Speaker:advise brands to consider
how they work together?
Speaker:It's a good question.
Speaker:So I think one of the current struggles
that everybody in this product focused
Speaker:content seller space is struggling with is
Speaker:the interpreted need to be
everything to all people and to be on
Speaker:every single platform.
Speaker:And while I think there is a
space for yes, be on TikTok,
Speaker:be on Amazon, sell 'em,
Walmart, all those things,
Speaker:I do think there's a little bit of,
depending on how big your team is,
Speaker:how early you are in your company phase,
Speaker:you can't personally probably
simultaneously run all
of those sales channels.
Speaker:So I think making peace with, if you
took off on TikTok, double down, right?
Speaker:Yeah. If.
Speaker:You took off on Amazon, double down.
Speaker:In.
Speaker:Time, you can add all of those
from a content piece though,
Speaker:if you're a brand who is selling on all
of those, when you're vetting creators,
Speaker:check and see where they're
posting specifically if
you're on TikTok and Amazon
Speaker:and you find a creator on TikTok,
Speaker:because that's the more
likely direction this goes.
Speaker:Ask.
Speaker:Them if they're Amazon influencer and if
they would post an influencer video in
Speaker:addition to what they're
doing on TikTok, because
Speaker:it's much harder.
Speaker:You can reach out to influencers from
Amazon through their storefront to their
Speaker:socials and to their, but if you're
interacting with them on TikTok,
Speaker:you've already got a little
bit of conversation going,
Speaker:that's where I would the best direction.
Speaker:Yeah, totally makes sense.
Speaker:So start that conversation with someone
on TikTok and do an influencers working
Speaker:with you there. See if they'll create
some content on Amazon as well.
Speaker:And that kind of goes back to the
earlier discussion where same person,
Speaker:different flavors of content.
Speaker:Based.
Speaker:On where someone is in the buying
journey. And it makes just a ton of sense.
Speaker:Yeah.
Speaker:So very, very cool. Well, awesome. Well,
Speaker:let's kind of go back to what we
alluded to at the beginning of the show.
Speaker:So you built Fluencer Fruit,
amazing site, amazing product.
Speaker:Kudos to you. It really, really great.
Speaker:Thank you.
Speaker:Why did you decide to sell, and
actually when did you decide to sell?
Speaker:So did you build it in order to sell
it or did you build it just for fun and
Speaker:you're like, wait a minute, there's
something here. This is valuable.
Speaker:I'm going to sell it.
Speaker:So I built it to sell it. I went into it
knowing that I wouldn't run it forever.
Speaker:I know that my skillset
falls between zero and two,
Speaker:right of the stage of the company.
I do really well with ambiguity,
Speaker:chaos,
Speaker:and pulling it all into one place with
enough of a structure to start handing
Speaker:things off to specialists. So over time,
Speaker:I've realized that that is my skillset.
Speaker:So I knew that I was probably not going
to be the person that took it past stage
Speaker:two or whatever that turns out to be.
Speaker:And I read Exit Preneur by our
mutual friend, Joe Val, as I was.
Speaker:Joe Val, shout out to Joe.
Great book. Great book.
Speaker:I mean, if you are even thinking
about Ever in the Future,
Speaker:I just devoured that book and I had
legitimately been waiting to read it until
Speaker:I knew I was getting ready.
I wanted it to be so fresh.
Speaker:I should have read it twice, but.
Speaker:Yeah. Yeah. Well, one thing
I've noticed there is,
Speaker:so we started going through
this journey and like I said,
Speaker:we're looking at acquiring, we're trying,
Speaker:we're an agency right now trying to get
it across the finish line and looking at
Speaker:another deal as well.
Speaker:But one thing I noticed is once
we started thinking about m and a,
Speaker:and we'd even explored do we want to sell
to an investor? What do we want to do?
Speaker:If you go through the process,
Speaker:if you read Joe's book and there are
some other great books, buy, then Build,
Speaker:buy Walker, and there's several
others just going through the process,
Speaker:you'll run your business better.
Speaker:Because if you start to look at your
business like an investor or a buyer looks
Speaker:at your business, you are just going to
run it better. And then you may decide,
Speaker:wow, I'm more profitable
running it this way.
Speaker:I'm just going to keep
the business. So anyway,
Speaker:I think even if you think you're
not going to sell for a while,
Speaker:read those books and run your
business, you're going sell it,
Speaker:it be a better business.
Speaker:I think the best thing that I
took out of the book was my books.
Speaker:I'm not a bookkeeper anyways.
Speaker:And so as I set up the
LLCs hired a bookkeeper
Speaker:because I just wanted,
Speaker:because when I was at
Jungle Scout Chief of Staff,
Speaker:I did a lot of coordinating around m
and a conversations and when we acquired
Speaker:Downstream and those sorts of things.
Speaker:And so I've seen the process
of when people's books
Speaker:aren't clean and what that
looks like. And I was like,
Speaker:so my number one thing was to make
sure that my books were always
Speaker:whatever. Anybody could come in
if they didn't like the books,
Speaker:that was one thing. Yeah.
Speaker:Compliance super clean. Correct. Someone
looks at it, they trust it. Yeah.
Speaker:End of story.
Speaker:Exactly. So that was my favorite
thing, but I knew all along,
Speaker:so I read the book and
then I was building,
Speaker:I did think that I was going to run
the company for three to five years.
Speaker:I.
Speaker:Figured it would take me about
that long to be interesting.
Speaker:The risks that I took that I knew
were risks was my brand was and is
Speaker:still very attached to me as a person.
Speaker:And so when people talk about flu fruit,
Speaker:they talk about you should buy flu fruit
so that you get with it Liz's office
Speaker:hours or.
Speaker:Those sorts of things.
Speaker:So I did know that that was a little bit,
Speaker:but I also assumed because I
very specifically picked a pretty
Speaker:niche community that I was going to be
a strategic acquisition for somebody
Speaker:filling a gap that nobody else
has that fits a bigger picture,
Speaker:whether it was an ads play or those.
Speaker:You likely weren't going to be a platform
you were going to be more bolted on or
Speaker:tucked into a platform most likely.
Speaker:Yeah, my I was like, nobody else
is doing anything in this space.
Speaker:I can fill that hole for whoever thinks
that it's the most valuable to them at
Speaker:the time.
Speaker:Yeah, that makes a ton
of sense. And really
Speaker:building a brand that is a little bit
dependent on your personality. I mean,
Speaker:that's what done here at OMGA,
public facing, I'm speaking,
Speaker:I'm doing all kinds of things.
And so certainly my brand and OMG,
Speaker:they're intertwined, which is fine.
Speaker:I think part of that though is you got
to lean into your strengths, right?
Speaker:Absolutely. You're good at
building community. People
know you, they trust you,
Speaker:they like you,
Speaker:so don't shy away from that
just so that a future exit is.
Speaker:Agree.
Speaker:Easier, whatever, lean into it a strength,
Speaker:you're going to build a business faster,
it's going to be more profitable,
Speaker:and that's going to make the
business more valuable. Absolutely.
Speaker:And they kept you on as well,
Speaker:which I'm sure was part of that was
related to your personal brand being
Speaker:attacked.
Speaker:So I was planning on being
around a lot longer solo,
Speaker:and then
Speaker:we've talked a lot about building your
network and being open to conversations
Speaker:is really critical in
whatever realm you operate in.
Speaker:And the wayward thing came out
of a LinkedIn conversation.
Speaker:No way.
Speaker:So.
Speaker:Like a post you made on LinkedIn, someone
commented on it, or just a connection?
Speaker:I made a comment on another post,
Speaker:and the head of growth from Wayward
reached out to me and was like,
Speaker:I'd love to get on a call
and just kind of chat.
Speaker:And so I take a lot of those just
because interesting in our space.
Speaker:And learn something.
Speaker:And then he was like, Hey,
you should meet our CEO.
Speaker:So I met Allie and then
she and I had lunch,
Speaker:and then I did some consulting for them.
And as we worked together, it was like,
Speaker:oh, this is actually a really good
fit. We have a whole offering together.
Speaker:By the way, what a brilliant
strategy from wayward part,
Speaker:I'm assuming this was part of
the strategy. Hey, here's Liz.
Speaker:Cool product, cool tech,
Speaker:let's hire her as a consultant and let's
see what it's like to work with her.
Speaker:That's actually something we've done
several times as we looked at acquisitions
Speaker:is, Hey, let's run some projects
together. So we're looking,
Speaker:we're talking m and a, we're talking
about joining forces, whatever.
Speaker:Let's run projects together. Let's
just see how this goes. I mean,
Speaker:that's the best due
diligence you could ever do,
Speaker:or the best addition to due
diligence you could ever do. So cool.
Speaker:So what was it like going
through the sales process?
Speaker:Any tips, suggestions for
someone who's considering it,
Speaker:about to get into the sales process,
the selling of their business,
Speaker:that process? What was it
like? What tips do you have?
Speaker:So I think probably the two best
decisions I made were I had a broker.
Speaker:So even though I had kind
of sourced or whatever,
Speaker:I was working with Wayward,
Speaker:I worked with a broker to help
me put together my valuation,
Speaker:my kit, just some of those things.
Speaker:So even though technically the
sale happened outside of the broker
Speaker:situation,
Speaker:there were so many things that putting
together specifically around the
Speaker:valuation that was really valuable to
have his input around what's currently
Speaker:going, what the multiples are.
Speaker:And then the next best
thing I did was an attorney.
Speaker:Because initially I was like.
Speaker:Got to.
Speaker:Got, I was like, I can do this
with chat GPT, and then I was like,
Speaker:will I regret that if I do it wrong?
I was like, yes, I will. So you.
Speaker:Will. I mean, I love chat GPT or
Claude or other tools for legal.
Speaker:Help.
Speaker:Structuring advice in the early
days. It can help guide you,
Speaker:and those tools can really
show you some things, but man,
Speaker:if you're doing a big deal,
Speaker:this may be one of the biggest
transactions of your life.
Speaker:If you're looking to acquire or sell or
whatever, hire a good m and a attorney.
Speaker:It's so worth.
Speaker:It. Yep, exactly. So
Speaker:those are the things I wouldn't do
differently, you know what I mean?
Speaker:Those are the decisions that I'm
really glad I made those two decisions.
Speaker:For sure, for sure. Anything
you would've done differently?
Speaker:It's a good question. I've been trying
to think about that. And honestly,
Speaker:at the moment, I don't have
anything. I think probably because
Speaker:I'm a big believer in if you feel like
you're trying to kick the door down that
Speaker:maybe that's not the direction.
Speaker:And it just felt like every door in
this situation just kind of opened,
Speaker:and so I just kind of walked
down the path, right? The CEO,
Speaker:Allie and I have a very open
relationship, and so if I had a concern,
Speaker:I would just go to her and
there was nothing major.
Speaker:But anytime you have these types
of big detailed conversations.
Speaker:Making.
Speaker:Sure that you're clear on things
is super important, obviously.
Speaker:And so I don't currently
have anything where I'm like,
Speaker:I wish I had done that part differently.
Speaker:It's so great. Well, and one thing,
and because of the way this unfolded,
Speaker:got to know them by meeting in person
and then working as a consultant with
Speaker:them, you really got a feel for their
character and the way they operate.
Speaker:And because even though
this isn't a forever thing,
Speaker:it's kind of getting married,
especially if you merge companies,
Speaker:that's like a marriage. So
you got to really make sure,
Speaker:is this someone I want to be married
to for the next X number of years?
Speaker:Yeah, exactly.
Speaker:Yeah. And that's where I love
being tenacious and if I get a no,
Speaker:I'm going to figure out a way to
get a yes and things like that,
Speaker:but you don't want to have to, Hey,
this is going to be a partnership.
Speaker:I don't want to have to
fight for everything.
Speaker:It should feel somewhat
seamless or effortless,
Speaker:at least in parts of it,
like the communication and
the openness and the, Hey,
Speaker:are we collaborative? And
stuff like that. Yeah,
Speaker:it sounds like you definitely
took the right path there
Speaker:and it paid off. It paid off.
Speaker:I'm really pleased with the
outcome. I love being on the team,
Speaker:and that was part of the reason that when
we started having those conversations,
Speaker:I had been solo for two years,
which pretty extroverted.
Speaker:So being able to join a team that's moving
in the right direction has been like,
Speaker:oh, good. I have people again.
Speaker:Dude, I thrive in a team
environment. I can do okay on my own.
Speaker:I don't mind to sit and write or
crunch numbers for a little bit.
Speaker:But doing that for a long period of
time, no, that's not where I want to be.
Speaker:That's amazing. So now
kind of foreseeable future,
Speaker:you're going to be helping build this
out, or is this a short-term thing?
Speaker:Are you allowed to say what does
the future hold for Liz and for
Speaker:flu fruit?
Speaker:Yeah. Well,
Speaker:I have this really cool opportunity
with Wayward to build their creator
Speaker:division. That's awesome. So I
Speaker:get to visualize, strategize, scope
and help execute on this in a way,
Speaker:to your earlier point,
know your strengths.
Speaker:I get to build a community that's
rooted in education and tools and
Speaker:straight knowledge sharing
around a lot of this.
Speaker:So I'm really excited about that.
Speaker:So I don't know how long that
takes or where that takes me,
Speaker:but for right now,
Speaker:we're natural builders that appeals to
me is I get to go build something cool
Speaker:with additional resources and helping
the community that I'm bringing along.
Speaker:With a team with capital,
with a structure.
Speaker:But you get a little bit
of the best of both worlds.
Speaker:You can still be
entrepreneurial and build,
Speaker:but with some resources at your
disposal. So that is awesome. Well,
Speaker:Liz, kudos to you, man. Great job.
This was your goal at the outset.
Speaker:Let me build something that is valuable
enough that someone wants to buy it.
Speaker:You did it yet a successful exit.
Speaker:Thank.
Speaker:Now you guys are building
together, which is super great.
Speaker:So if people are listening to
this and they're like, man,
Speaker:I want to know more about
wayward or about flu fruit.
Speaker:I want to tap into Amazon,
Speaker:the Amazon influencer ecosystem,
either as an influencer,
Speaker:I probably just got brands listening,
Speaker:but I could have some people
who want to do an influencer,
Speaker:but how can people find more?
Speaker:Yeah, absolutely.
Speaker:So wayward.com is like if you
just want a general whatever,
Speaker:I also do calls with brands. So
if you're like, you know what?
Speaker:I just have questions, I'm Liz at, at
wayward.com, just shoot me an email.
Speaker:We'll set up a time.
I'll walk you through.
Speaker:I'll do an audit of your listings and
tell you organically what you can be doing
Speaker:to attract those influencers and or
how we can help you push more traffic,
Speaker:kind of figuring, solving for
the problem you're having.
Speaker:Yeah, yeah, it's amazing.
Speaker:And then it's Fluencer fruit.com
as well, is that's the.
Speaker:Yep. If you're looking for the
extension, it's Fluencer fruit.com.
Speaker:Amazing. And then Liz, what about
on the socials? Are you active?
Speaker:Are you active on LinkedIn,
Speaker:or was just the onetime
comment that changed your life?
Speaker:Yeah, yeah. I know, right?
It's like random comment. I'm,
Speaker:I'm active on LinkedIn,
Speaker:so I think my profile is like Liz
Saunders, but if you look up Liz Saunders,
Speaker:you should find me.
Speaker:Awesome. I'll link to everything
in the show notes as well.
Speaker:So check out what Liz is up to. Liz,
thank you so much. It's been a ton of fun,
Speaker:super valuable. And man,
Speaker:I'm excited to watch you guys build and
make the Amazon influencer space even
Speaker:better.
Speaker:Absolutely. Thanks for having me.
Speaker:Awesome. And as always, thank you for
tuning in. We'd love to hear from you.
Speaker:What would you like to hear more of on
the show? And if you've not done so,
Speaker:we'd love that review on iTunes,
helps other people discover the show.
Speaker:And with that, until next
time, thank you for listening.