Updated Feb, 6th 2013
Youlyst is a social marketplace that has launched in Australia in beta phase, patent application pending.
The problem that it is trying to solve is the relevance of who you know at the point of transaction/enquiry so you can make an informed decision. The ability to leverage the wisdom and connections of your friends at the time you need it most, rather than the wisdom of the crowds.
How Youlyst works
1. Request an invitation and then register via email link.
2. Create your business or personal profile including photos.
3. Create your own network by inviting contacts from your email address book or other social network. Once people accept, they can invite their contacts and your network grows exponentially.
4. Simply enter your search term and watch as listings appear generated from businesses and people in your Youlyst network.
5. Businesses and people can then find each other, products, services, customers and suppliers through referrals from people they know and trust.
Major players in the system
Selfish reasons why each player would want their friends/contacts to join
Recruiters want to stop wasting time trawling through resumes they generate after paying exorbitant advertising fees on the big job boards. Through Youlyst they have instant access to candidates with up to date details, and who come with a seal of approval from contacts in their Youlyst network.
Car dealers want more genuine buyers rather than time wasters. They also want to reduce the sales process need to do this by gaining the buyer's trust as soon as possible. Youlyst can do this by directing potential car buyers to dealers from their network. They also want to save money on advertising
Realtors want to cut down on the amount of time wasters at open homes, reduce the amount of time spent on the sales cycle and also have access to more prestigious listings, find better prospective clients, and cut down on exorbitant advertising costs.
Small businesses want to find a way to reach more potential customers without spending a lot of money on marketing and advertising. They want to increase customer spend and loyalty.
People in the market for a job or a car or business services want to find it in the least amount of time possible and through the most reliable sources. They don't want to be given the run-around by unscrupulous recruiters, car dealers, realtors or shoddy tradespeople. They also want to save money by finding out what businesses in their local area are offering specials or discounts.
What charges can be leveled at each player?
Recruitment – advertising fees, after the initial six-months-free period, that undercut the competition.
Real estate – advertising fees, after the initial six-months-free period, that undercut the competition.
Small business – small advertising fees, after the initial six-months-free period. Possibly charge for relevant data drawn from large online userbase that will be useful to them in generating more customer acquisition. Possibly small fee for daily deal facility?
General public – Not sure.
Motivation to pay:
Recruiters – to never again make a bad hire that alienates clients
Real estate – to save money on advertising fees and access better listings
Small business – to increase customer base and repeat business
General public – Possibly to find a better job or a car that's less likely to be a lemon but mostly it's the businesses who will pay. The peace of mind that there is a form of accountability in the mutual connection
Selfish reasons why main players would pay
Recruiters – to save money, and social cohesion – greater acceptance from their clients. Also anticipation, fear of not making enough money if times become tough again/remain tough. The ability to reference check candidates from connections and thereby making better judgements which lead to placing more staff and making more money.
Real estate - to save money, and social cohesion – greater acceptance from their clients. Also anticipation, fear of not making enough money if times become tough again/remain tough.
Small business - Fear of and hope for the future (anticipation).
General public – Fear – to find what they need without being ripped off or mislead and also social cohesion – to gain kudos from helping friends and family find the things they need.
5. Channels for sending invitations
Youlyst.com, sales staff, EDM