Wayflyer was founded in 2019 and launched in April 2020, and has spun out of a marketing analytics company that Aidan Corbett (CEO) had previously started. Instead of using a marketing analytics engine to do big enterprise SaaS solutions, it was used to underwrite eCommerce businesses for short-term finance - the start of Wayflyer.
Today, Wayflyer is a revenue-based financing and analytics platform for eCommerce merchants. The company aims to provide fast and affordable funding to help unlock a business’ growth by giving them access to working capital (from $10K up to $20M), as well as access to data and analytics to improve marketing and drive sales.
To help achieve Wayflyer’s goals in the Netherlands, PRLab was enlisted to gain more attention from the press, increase brand awareness, build credibility, establish media relations, successfully create media buzz around the upcoming launch of Wayflyer in the Netherlands, and strengthen the relations with its existing network of investors, portfolio companies, and employees, to increase life-time value and create brand ambassadors, as well as becoming sought after by the media for expert opinions. As the collaboration had been extended, PRLab was also enlisted to position Wayflyer as a thought leader in the e-commerce and fintech industries in the Netherlands. This would be achieved through several press releases and editorials offering expert advice, opinions, and insights with the goal of attracting more leads for e-commerce funding.
Originally, PRLab and Wayflyer underwent a 12-month collaboration. The contract has been extended till October 2022. As PR is a long-term game, the best strategies and results can be achieved when a relationship is ongoing and continuously building on previous successes.
Wayflyer became Ireland’s sixth unicorn, after having raised €150M in a Series B funding round, and securing $300M & $253M debt financing, now the company is standing at a €1.6B valuation. As this is a great achievement for Wayflyer, the PR strategy was adapted accordingly to ensure generous press coverage is received for this milestone. Especially in the startup world, funding rounds are important to announce. This type of news is important to share with current and new potential investors, as it gives them an indication of where the company is heading in terms of future growth and ROI.
As part of the planning process, we identified some possible angles to take when sharing the key message with possible media agents. We then started by testing the journalists' receptiveness and enthusiasm towards Wayflyer’s press releases in order to gauge the appropriate angles for our releases.
Next, we focused on content creation for the Dutch market. As Wayflyer has not yet received press coverage in the Netherlands but has received significant press coverage in the UK as well as internationally, we applied our PR experience and leveraged our contacts to create tailored messages for the Dutch audience.
To implement a successful public relations strategy, it is important we understand what social channels Wayflyer’s target audience is most active in. Based on research conducted on Wayflyer’s target audience, the following verticals were created for our media outreach:
In order to successfully share Wayflyer’s message with key audiences, we matched the main message being communicated with the personality of the specific journalist being pitched to. This process took time and required transparent communication between both parties as each media outlet’s audience is unique, aiming to tailor the proposed content to the audience’s interest. This research into different media outlets and audiences resulted in valuable coverage being attained.
For Wayflyer to be regarded as an industry leader, a thought leadership approach was followed in order to improve brand awareness and to be seen as a credible source of information for business leaders looking to improve their e-commerce businesses. Furthermore, to ensure they are seen as thought leaders in their industry, articles were created giving insights into growth financing, cash management strategies, freight and shipping costs, sustainability issues and opportunities, and common mistakes e-commerce startups tend to make.
The purpose of these articles and press releases were to provide deep insights and knowledge for their target audience, promoting messages that engage thoughtful analysis, opinions, discussions and expert advice. It was important to ensure that their content was beneficial and useful to their target audience which may attract new leads who require funding for their e-commerce business.
As the contract with Wayflyer was extended, it required PRLab to create a strategy to implement long-term thought leadership. At first, our aim was to create several industry reports to build a solid positioning for Wayflyer, however as the collaboration continued it was important to organize events or conferences, create awards and competitions, and build long lasting relationships with local influencers in order to position Wayflyer as a thought leader.
