AMY Williams launched Good-Loop in 2016 after working for advertising agencies and wanting to change how adverts are viewed by the public. The ethical video platform donates to charity on behalf of viewers. After receiving £1.2 million in seed funding last week, the business will expand into US and European markets.
Name: Amy Williams
Age: 28
Position: CEO
WHAT IS THE BUSINESS CALLED?
Good-Loop
WHERE IS IT BASED?
WHY DID YOU SET UP THE BUSINESS?
MY background is in ad agencies. I had done work on brands thinking about social purpose. I worked with Unilever who found sustainable brands grew 50% faster than others. Working on that was inspiring. You can have impact working for a global conglomerate – I was inspired by the social purpose on a massive scale.
I always had an inkling that running my own business might be the right path but I have not always worked for myself. I did a graduate programme after uni and worked for Ogilvy ad agency, who have clients like Unilever and British Gas. The first thing to do was find a business partner – I had the commercial understanding but needed help to build a product. I found Daniel Winterstein who did a PhD at Edinburgh University and was plugged into the Edinburgh tech scene and had the perfect expertise. We met at the perfect time.
HOW DOES IT WORK?
IT’S a super simple idea. If you are on the New York Times website and watch a video we buy the ad space before the video. If you don’t skip the video for 15 seconds you unlock a charity donation and you choose where you give it. When people see an advert for the second time the interaction on the ad goes up by 70%. When people understand the concept they engage more. People are surprised by how much money you can donate from one video – 5p is a pretty meaningful amount. One campaign could raise £100,000.
WHAT IS YOUR TARGET MARKET?
IT has always been based on my experience at Ogilvy working with blue chip companies. Unilever has always been a key target because I know they have the business imperative to make more impact. Companies like Mars and P&G are important targets as well. I think businesses are becoming more aware of ethics. Start-ups have all got a key purpose fuelling them and big companies have pressure from customers and shareholders to have social values. It drives how people buy stuff and is crucial for a business to survive.
HOW IS IT DIFFERENT FROM COMPETING BUSINESSES?
WE’RE the first of this kind of company in the market. We are the only advertising technology firm to certify as a B Corp business, meaning we are certified as an ethical business. The ad industry had issues with trust. Scandals like Cambridge Analytica makes the public worried about data. It’s a massive industry desperate for positive solutions and companies can put their money where their mouth is.
IS SCOTLAND A GOOD PLACE FOR THIS TYPE OF BUSINESS?
ABSOLUTELY. The talent that comes out of Scottish universities is second to none. We’ve worked with lots through tech event EIE and placements. The investment scene in Scotland is really forward thinking. We’re backed by Scottish Enterprise and the Scottish Investment Bank.
WHAT DO YOU ENJOY MOST ABOUT RUNNING THE BUSINESS?
I LOVE the direct link between a decision and an outcome. We can have a meeting and put customer feedback into an action plan and then receive more feedback. The feedback loop is so satisfying. I found it difficult working at a big corporation because everything is so layered and I felt like a tiny player in a big machine.
WHERE DO YOU HOPE THE BUSINESS WILL BE IN 10 YEARS’ TIME?
I HOPE we create a more positive role for advertising in society. People put up with it but feel it doesn’t do anything good. We want it to fund good causes when people engage with an ad. The value exchange is empowering and translates into meaningful impact.
We’re looking for 2% commitment from the world’s top 100 brands. We have 15 staff and one of the things we are investing in is growing our marketing and scaling up the sales process.
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here