FREE Resource 29,000 Shopify Owners Read To Grow Their Shopify Stores

Kasim: 00:00:11

Hey, it's Kostin with Solutions 8, and I'm excited to welcome

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back my buddy, Matthew Stafford,

founder and CEO of BuildGrowthScale.

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Matt, thanks for being

here as always, buddy.

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Yeah.

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Excited to be here.

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Good to see you.

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And you have a new initiative that

we're just going to dive right

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into, which is, it's a newsletter

specifically for e commerce store

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owners called the early checkout.

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first of all, this is a masterclass

in CRO right out of the gate.

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Like I love everything

that you've done here.

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I love the delineation

in the offers using font.

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Without looking messy, you've broken

this up in nine different ways.

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Five minute read,

thousands more customers.

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Like what a great value

proposition that is.

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29, 000 Shopify owners read this

to grow their Shopify stores.

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this is just so well done.

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so give me the sales pitch.

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What's the value prop?

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Why would I sign up?

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the part of the reason is, because I

actually reached out and got people

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like yourself, to be contributors.

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So over the years, obviously we've

been doing e commerce at really high

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level for about 10 years and which is

forever on the internet, but, we focus

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on conversion rate optimization, but

there's other parts to e commerce like

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Google ads, Facebook ads, email, SEO.

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And so instead of trying to be all

things to everybody what we did is

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we got together with a whole bunch

of the very best people in e commerce

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and asked them to be contributors.

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And through that.

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It's meant to be about 800

words for each deep dive.

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So a good 10, 15 minutes you can go

through it once a week, twice a week

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and basically get all your areas of e

comm covered in one spot and then also

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be able to reach out to the experts

that are doing it at a high level.

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Yeah.

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I'll share just so our viewers

can see, this is the first.

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publication that I was

sent and it's robust.

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This doesn't feel like generic copy,

this feels like really actionable

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insights and it's a choose your

own adventure to it's, what is it

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specifically that you're looking for?

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And then you can dive down those

rabbit holes as is necessary.

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Yeah.

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And we even give you a kind of,

Hey, this is what you're gonna find

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out from this particular article.

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So you can come back and

some peaks are in a test.

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It's really meant to give you nuggets.

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Yeah.

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I'd love to.

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So newsletters I'm now obsessed with

my business partner, Perry Belcher

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talks about this all the time.

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like you never thought that newsletters

were going to make a comeback.

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You know what I mean?

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got me excited about them

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yeah.

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I think they have one of the highest

valuations of any new business category,

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but it makes so much sense because

we're so overwhelmed with content.

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you need someone who's smart and

discerning to say, here's what

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to pay attention to this week I'm

trying not to be hyperbolic, but

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I actually really feel this way.

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I'll get like panic attacks.

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Feeling like I'm missing out.

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Yeah.

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Because I'm in digital marketing,

which means all the things.

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And I'm like, I have to know

everything all the time.

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And it's really nice.

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I subscribe to four or five newsletters.

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And I at least feel like I'm not

caught unaware when someone's

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Oh, did you hear about the thing?

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Like I feel safe.

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Sure, Protected.

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Same even in e commerce digital

marketing, whenever you're consulting

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people that are in business, you

feel like you have to have a broader

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scope AI it's such a broad scope

that for us, we just keep narrowing it

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back down to okay, it's a great tool.

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it does replace.

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The need for the number of

people that you have, but really

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the way that we've viewed it.

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And the way that we've talked to our

other business owners is to use it

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as a tool to supercharge yourself.

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So basically create like super employees.

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So not get rid of anybody, but give

everybody the ability to use a tool

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that Makes what they do more powerful.

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And one way that I just give you a couple

of examples of what we've talked last

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using AI's knowledge base where now

what you can do is you can essentially

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put all of your product information

into a knowledge base and then have that

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live on your site as a little chat bot.

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They're getting really good with in

fact, we're actually developing a product.

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doesn't have to do with e commerce,

but using one of those bots,

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because you can actually make them

go out and query information and

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come back, be very conversational.

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You can actually have them speak bunch of

different things that we're playing with.

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But just to give you an example one

of Our coaching students, they have

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about a 2, 000 average order value.

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So their product is extremely technical.

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Their conversion rate on their site

was around 1%, a little over 1%.

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We.

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Went in there, cleaned up, took all

of their knowledge base from all

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the different models and all the

different things and put it in there.

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And now it can answer questions and

their conversion rate went up over 2%.

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2, 000 product, it's

literally life changing

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. Everybody that now they can buy

more traffic than competitors.

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. I always tell people, chances are

you don't have a traffic problem.

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90 percent of the time people come

to me like we have a traffic problem.

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I'm like, no, you don't.

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You have a conversion problem.

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And when fix that, we'll

get to the traffic.

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I didn't mean to interrupt you.

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No.

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I have the same conversation

because people come to me and they

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go, Oh yeah, ads aren't working.

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I'm like what's your conversion rate?

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And they're like, Oh, it's 2%.

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Your ads are working.

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Yeah.

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For every hundred people you get to

your site, two people are buying.

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I said, think about the 98 that left

that came, go get two more of those.

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You doubled your business, right?

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You guys are thinking like, Oh, my

ads, I need to send more people.

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No, you just need to do a better job

with the people that already came

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and you'll double your business way

before you have to go buy more traffic.

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Yeah.

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yeah, that's not the issue.

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So for them, essentially, if you

think about it, that customer support

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person is never in a bad mood.

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They're never short.

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They can give complete answers.

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And they probably make way less

mistakes and they're on 24, seven.

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And so you can put guardrails

on the backside of it.

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Like never mentioned our competitors

never, be very conversational or be

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very, jovial, whatever you give it, all

these guidelines and it will literally

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change the way that chat bot works.

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Is this proprietary or are you using

a tech stack that you can share?

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yeah, there's several of them out there.

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I will tell you the easiest one

to use is probably chatbase.

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co.

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That's the one I've seen people using too.

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Yeah.

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It's very cool.

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We're building a custom one for what

we're doing just because of the, what

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we're trying to get it to do, but

chatbase will work for 99 percent

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of Every e commerce owner out there.

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My experience with people who

have used it's not plug and play.

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You buy it and then it's

about how well you train it.

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And so there's some logic

going in on the back end.

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that one of the things that

you teach at BuildGrowthScale?

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We can, and we probably will just

because for us, it's fairly new.

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So we always do the stuff on

our big partner stores first.

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And then if it's working,

then we use that to teach.

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yeah we're getting some

really good results.

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So now that will then trickle down

into our membership where we teach.

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So for sure.

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You said something that I

really appreciate it because

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nobody's willing to say this.

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You said AI will decrease the

number of people you need.

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And so far I think Emperor's New

Clothes mantra has been like, oh,

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no, it's not going to replace people.

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It's just going to make what they do

more effective and they're going to

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get to focus on what they want to do.

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And I'm like, no there's definitely

going to be a, decrease in the amount

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of human capital necessary along

certain assembly lines, hundred percent.

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And so what I always say is where

you've used it, the people that

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are making themselves valuable in

your company, if the AI reduces.

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Their value in that particular area,

you're going to use them somewhere else.

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Sure.

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That's my question for you.

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What are the roles that

you think are not AI proof?

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Because that's a stupid way to phrase

it, but safe now, if somebody is in this

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role, they should go learn another skill.

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And if somebody is in this role, you

think that they're okay, or, not quite as.

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Yeah.

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What we live in the world of data,

like that's really what we do.

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And so we're constantly looking at it.

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I will tell you that we're

keep trying to find ways to let

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AI, analyze the data for us.

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Yeah.

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But no matter what, it's always going to

take somebody is going to have to then

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translate that into how it's going to.

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Affect the site or hey, what is

this data actually telling us?

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How do we make it better we're measurement

marketing piece is still very human.

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Yes, Chris Mercer.

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Nope.

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I don't mercerownesmeasurementmarketing.

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io.

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I've said this all the time.

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I think Mercer is the most important

voice in digital marketing.

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He teaches people how to do

exactly what you just said.

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And here's the best part.

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Nobody wants to listen to him.

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Because he has the worst time, he's

Oh, I'm going to teach you measurement.

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And everybody's Oh dear God, no.

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Like they want to learn offers.

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But I love that you just

brought that full circle.

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I'm probably going to send

this interview to him.

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I do, I should connect you guys.

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There's a ton.

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Yeah, I would love that.

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We've got a bunch of customers for you.

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I'm sure.

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But I think you've got a bunch of

customers for him too, because people

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have to start learning measurement.

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They have to, it's critical.

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Yeah.

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It's amazing.

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So we're dealing with a company right now.

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It cracks me up how far into the process

they get before they actually start.

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Thinking, Oh, I need to clean up my data.

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Oh, I need to do this.

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And they don't realize like all

along the way, they've just been

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leaking like companies that are doing

several million dollars a month.

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Like they've literally leaked millions of

dollars on the way to that because they're

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doing that now and they have no good data.

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And so when we go in there and cleaning

up just those little things, it's crazy.

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The difference you take equity deals.

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I do.

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Yeah.

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I would, man, there's gotta be so much

leverage for you there because the one

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or two or three things where you're like,

Oh gosh, I could, double the EBIT on this

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company just by pulling these two levers.

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Yeah, that's been a huge change

for us over the last 12 months.

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It was more agency work and now

we do a lot more Hey, we'd love to

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come in and have some skin in the

game and do something partnership.

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What are the pre qualifications for that?

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If somebody wanted to partner

with you in that way, they need

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to be a certain size industry.

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Yeah, it makes sense.

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Obviously, a really good idea that we know

that we can reach out to some of our other

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strategic partners that know how to run

ads and do things like that we don't do.

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But typically I would say it's got

to be at least a quarter million

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a month that they're doing gross.

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Yeah.

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Sales.

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Okay.

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Yep.

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Because what we see is when you get up

to the two, 3 million a month traffic

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again, like us coming in and optimizing

and doing that, it helps and it sure

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cleans up the process, but they don't

get that two to 3 million a month 6

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million a month from us optimizing.

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They've already got it working

well enough that it's good.

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People that are around

that 200, 300, 000 a month.

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They have a good idea.

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They have a good product.

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They have a obviously a supply chain.

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And when we come in and fix the

website and clean up the communication

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and stuff like that, those are the

ones that, five, six X and in a

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matter of months, and that for us

is, where the goal is so interesting.

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So 250 grand a month for you is the

line of demarcation where an e commerce

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business is effectively proven concept.

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Yeah.

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We know like you've got a real

business here that obviously runs.

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Yeah.

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And can in most cases be much

bigger once you clean up the CRO.

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What's and don't give away the secret

sauce here or do it's up to you.

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But if you were to give me the

short list, the three or five, man,

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I go in and this lever, that's

the easy button for helping those

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businesses when they're at that level.

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The checkout.

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Matters a lot.

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That's where all the money, changes hands.

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So the little changes there make the

biggest difference in the business.

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It's funny how many people, even

at that level are still fascinated

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with their logos and their

homepages and all the other stuff,

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but there's so many more steps to

where the money actually transacts.

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And so what we do is we always start

at the checkout and then go forward.

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Because if I fix your homepage and make

it convert way better, all that does is

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get more people to your product page.

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If I fix your checkout,

you get more money.

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And then if I fix your

cart, you get more money.

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And then if I fix your product

page, you get more money.

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And so we always start backwards and then,

started the checkout and work towards

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the front of the store, even though they

want the look and feel to be better.

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We just want to make more money.

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What a phenomenal tip that

is, start at checkout.

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I feel like that could be the name of a

newsletter or maybe a training series.

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Or the early checkout.

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Yeah.

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Or the early checkout.

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Yeah.

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I guess you already have a newsletter.

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I'll stop trying to reinvent the wheel.

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What other AI tools are you using

right now that you'd point people at?

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Obviously chat GPT we use it every day.

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The cool thing is if someone does

a little bit of work with it we've

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used it to go in and ridiculously

change the SEO for a site and would

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have said, don't worry about it.

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Just buy traffic, years ago.

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In fact, that's what

I have said for years.

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Now that you have an AI tool, like you

can use bar too, but like these tools

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will give you exactly what you need to do.

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And tell you the strategy and everything,

and one person can implement it.

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we did it with a golf site.

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We use it and they sell used golf clubs.

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And so it's a constant

changeover of different products.

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But it's great for SEO because

now they rank for all kinds

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of terms for different things.

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And we really used AI to do it where

as a manual process, if you had to

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rewrite, 8, 000 product descriptions,

and then they're always changing,

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it was never doable without AI.

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Now it's totally doable with AI.

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So there's a bunch of branches and

this always happens when I talk to

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you, Matt, because there's all these

things I don't want to talk about.

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I'm curious though, just to backpedal

a little bit, do you prefer chat GPT

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or BARD in certain instances, if you

notice one is better than the other for.

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speaking from my own experience I do

that you can hook up Google sheets to

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chat GPT because by doing that, you can

feed in your product feed, you can feed

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in the Google keyword tool, and then

also give it some really good prompts.

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And then it will literally write all of

your product descriptions done in SEO.

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Way and, we're very specific about

how we do it in three sentences or

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less don't mention X, Y, Z, and then

use the most popular keywords and

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it will write very conversational.

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Product descriptions, which

matters if you think about it, why

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was Jay Peterman such a success?

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Cause every single product description

is a story and people remember stories.

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And so if you where, if

you're not a copywriter, you'd

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never be able to do that.

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Or if you couldn't afford a copywriter,

you'd never be able to do that.

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But now this tool literally gives

anybody that's willing to put a

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little bit of time and effort into

it to differentiate themselves.

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Are you going to Perry's AI Bot Summit?

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Yeah, I'll be there.

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I figured.

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Are you speaking?

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No.

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Dude, I gotta, would you be

offended if I told Perry he

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needs to drag you up on stage?

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No, I don't know.

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I don't know, he might, it's so close to

the time, he might already have his slate

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: 00:14:16

figured out, but I'm gonna text him and

let him know that you're so funny, dude.

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You would just sit there in the audience,

probably the smartest guy in the room.

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I doubt it.

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I don't know, man.

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You're being too humble.

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All right.

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I've made the note for myself.

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We've only got five minutes left.

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How do we make this the most productive

five minutes of the interview?

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What do people have to

know they're in e commerce?

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They want to use AI.

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: 00:14:37

What are the little hinges

that swing the big doors?

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bEfore we hit record, we

were actually talking about

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mindset and believe it or not.

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Tactics are fun and they work

but it still takes the engine

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that drives the entire train.

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And what I've noticed is when the

owner or the CEO of the company

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does the work between their ears,

the entire company does better.

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And so a lot of times.

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It's, yes, we'll give you things that

you can do that will make your business

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work better and be more profitable.

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But the things that you do for

yourself and learn about yourself

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are typically going to make

your business grow just as much.

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: 00:15:17

I had a really unique opportunity

to talk to a gentleman who works

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on behalf of one of the largest

private equity firms in the world.

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And all he does is run around

helping them buy businesses.

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That's his job.

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: 00:15:26

And I asked, I was in the middle

of my exit what's the thing

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: 00:15:29

you're always looking for?

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What's that one, key.

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: 00:15:32

And he goes, we don't buy businesses.

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We buy founders.

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: 00:15:35

Yeah.

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: 00:15:35

And I don't care what the business

does, how it does it, how long it's

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been around, what profitability

is if the founder's not.

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: 00:15:41

And he'll ask things

like, what do you read?

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: 00:15:42

What do you watch?

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: 00:15:43

What time do you wake up?

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: 00:15:44

How do you spend your day?

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: 00:15:45

Do you exercise?

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: 00:15:46

And these are.

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Goldman Sachs guys, these are

number cruncher, bean counter types.

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: 00:15:50

You wouldn't ever expect such an

esoteric answer, you've heard their

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name, like they're one of the largest

PEs in the world, billions of dollars.

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: 00:15:57

And their mandate is by founders,

go get the people that do

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: 00:16:00

the work between their ears.

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: 00:16:01

Yeah.

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: 00:16:02

on that subject, I always remember

something that Vinnie Fisher I

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: 00:16:04

think, he's on the faculty of driven.

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: 00:16:06

Okay.

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: 00:16:06

Yeah.

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: 00:16:07

he said, so many people think I'm going to

build this business to exit on and build

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: 00:16:10

this business to exit and five years,

he said a little shift of go build the

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: 00:16:17

business that you would buy in five years.

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: 00:16:20

if you're going to exit, you're

getting off the ship, right?

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: 00:16:22

So every decision that you make

is to get it to that point.

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: 00:16:26

Then who wants to buy it when

you've taken it to the point

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: 00:16:29

of wanting to let go of it.

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: 00:16:30

If you build the business that you want

to buy in five years, five years from

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: 00:16:35

now, that business sellable because

you've made decisions that are beyond

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: 00:16:40

that, that are going to do much better.

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: 00:16:42

For me, that's always been something that

I've never forgotten is build the business

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: 00:16:46

that you want to buy in five years.

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: 00:16:48

And it'll be a lot more sellable.

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: 00:16:50

I'm going to go tweet that when we're done

here and pretend that I came up with it.

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: 00:16:53

sell it to two other people.

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: 00:16:54

And then after that, it's yours.

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: 00:16:55

Then it's mine.

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: 00:16:56

Yeah.

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: 00:16:56

Those are the rules of

the internet, right?

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: 00:16:58

It's copywritten hashtag trademark.

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: 00:17:00

Where can people find you work with you?

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: 00:17:02

Hang out with you.

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: 00:17:04

Yeah.

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: 00:17:04

Build gross scale.

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: 00:17:05

com or they can email me at

Matt at build gross scale.

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: 00:17:08

com.

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: 00:17:09

Okay.

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: 00:17:09

And if this is your first time

hearing from Matt, this is truly

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: 00:17:11

one of the smartest people in the

world from an e com perspective.

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: 00:17:14

He's been an e com at a

high level for a decade.

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: 00:17:17

Build, grow, scale, I think has one of the

best curriculums, period, full stop when

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: 00:17:20

it comes to e commerce development, mostly

Shopify strongholds, but not all right.

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: 00:17:24

Like a wide variety.

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: 00:17:25

Have you seen that go high levels

coming out with Shopify killer?

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: 00:17:28

haven't, but they've been making

waves, so it wouldn't surprise me.

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: 00:17:32

Yeah, that'd be worth you and

I talking about sometime too.

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: 00:17:35

I'm one of their top affiliates, so I

gotta convert you over to the dark side.

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: 00:17:38

Okay, talk to you about it.

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: 00:17:39

Yeah.

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: 00:17:40

Y'all go check out Matt.

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: 00:17:41

All the links are in the

description of the video.

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: 00:17:43

Comment, subscribe.

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: 00:17:43

You know how YouTube works.

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: 00:17:44

And we'll talk to you later.