Growing Your Shopify Business With By the Numbers

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Welcome to Daily Google News.

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It's Kasim.

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I'm here with my new best friends,

Payam and Cyrus Pym is the

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co-founder of By the Numbers.

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Cyrus was just brought on for operations

works on the front of the house.

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I think of you Cyrus's mother hen.

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The way that you guys introduced

it is Payam is like, he's the

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founder of The Visionary and

he needed co-founder somebody.

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Co-founder.

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Fred is the visionary founder,

engineer of the product guy.

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Correct me, dude.

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Whenever anybody introduces

me as the Founder Solutions,

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and I'm like, that's right.

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I never bring up John Marin because

he gets enough attention as it is.

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But I like that y'all have the

structure you have because very often

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I think, Payam, when left to your

own devices, and I'm speaking as

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an entrepreneur myself it's really

easy to dive deep into the weeds.

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And it sounds like Cyrus

is here to kind of help.

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Navigate the waters for this amazing

tool, which by the way, I'm not

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an affiliate, I'm not an investor.

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I have no reason to pimp buy the

numbers out other than I'm a believer.

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Y'all have created something

that allows, and I'm gonna do

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my best to articulate the value.

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And then, you guys correct

me, it allows e-commerce store

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owners specifically in Shopify.

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'cause it's only for Shopify, right?

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Shopify strollers to visualize their

numbers maybe more importantly, and

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articulate their numbers according

to key performance indicators that

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people don't often think about or use.

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How did I do there?

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You did great.

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How would you do it?

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I would say that our core philosophy

is to track the movement of money

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between you and your clients.

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That is where we come from.

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We believe in that sort of ground truth.

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We are Switzerland.

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We're neutral.

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We don't get into those games of

attribution where you try to figure

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out where your ad spend saw success.

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We give you the ground truth of what

your business is doing by tracking the

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dollars, and we do it by the numbers.

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somebody's watching this and they're

not going to buy, buy the numbers no

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matter what period full stop because they

don't want to spend the 13 a month they

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don't want to forego the monthly growth.

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We have more expensive one,

but you know what I mean?

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Like it's, you look at and you're like,

it's stupid not to get this damn thing.

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And I noticed you have a free version too.

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Yeah.

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What I'd like to do is I'd like

to leave our, viewers better off

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than we found them regardless of

whether or not they use our tool.

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Yeah.

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So, and I think the way that we do

that is if somebody were to take

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what it is that you're doing and

they were to do it from themselves.

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What are the KPIs that you think

e commerce store owners need

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to pay attention to, no matter

what, that they generally aren't?

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Where's the blind spots?

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There are a couple that

I think are so important.

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And I think the biggest one, which

you can kind of do yourself, LTV.

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You have to be thinking, look,

you go out, you do your ad spend

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for some cohort for some month.

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Now you have to get some data, you know,

you should wait a month, at least a month.

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Right.

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But then you should probably

get more data before, how good

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that particular campaign was.

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Here's the thing though.

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Every extra month you wait to get

data, yeah, the data gets better,

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but you're paying for it and you're

not doubling down on the winners.

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You're not dropping the losers.

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This is where predictive analysis

and things like LTV can come in.

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There are a lot of ways to do LTV.

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There's, you could do, the dead

simple LTV, if you just open up Excel,

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figure out the average tenure, figure

out their average order value, and

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figure out their purchase frequency.

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Multiply those together for a

cohort for a given month, and put

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that out and say, okay, that's

what my October cohort was doing.

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Average tenure.

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Average order value, purchase frequency.

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Yeah.

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So they're spending 50 on an order.

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They're ordering 1.

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2 times basically before

they churn out or 1.

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4 times.

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Kind of know what they're worth.

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That's your question for new

starts or even younger brands.

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If you're sub two years old or even

sub three years old, I don't know.

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How often somebody comes back.

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I don't know what my retention rate is.

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I don't know my ascension rate is.

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How do you, guess at that

without being stupid?

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That is where machine

learning came in for us.

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There's by the numbers do that.

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Yeah, you just feed it

every piece of data you have.

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And because we've seen so much,

we can pick up trends like the

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browser that you use when you make

an order has a fingerprint, if you're

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doing it from a bank or at work.

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Yeah.

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Like you're at your work console.

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That fingerprint is kind of unique and

machine learning just figures that out.

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It's like, oh, this person's

ordering during the day and they're

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doing it during their lunch break

and they're doing it from work.

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And we have a pattern.

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We have an established pattern for how

often people who do that and buy at a

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certain level at a certain time, come

back and it just sort of just comes

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out in the wash and it gives you a

slightly better guess, but still a guess.

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And the longer they're with

you, the better your guesses.

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Cause there's just so much metadata.

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You like, look, you have

everything from their, their

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billing location, their, currency.

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Are you an Australia paying in USD?

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That's a different kind of

person than an Australia paying.

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their frequency is going to be different.

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Their ascension is going to be different.

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They were everything's different.

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And like, I couldn't tell you how I

could just tell you that when you throw

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all those numbers into a matrix and you

do, you let the computer figure it out.

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It gives you back magic answers

that we can then verify are

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better than our guesses.

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They're better than our simple

modification because we look,

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we make our predictions for

the next month and we check.

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Magic answer is the right

way to say that too.

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Alright, LTV, that's a really good one.

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What's another one?

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What's another data point

that Cohort retention.

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Define cohort format.

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Absolutely.

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Groups of...

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Niche...

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Prospects based off of interest?

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Yeah, there's two ways to cohort.

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The most, the easiest way to

cohort is just based on when

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they made their first order.

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Do it by month, or week, or whatever.

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Okay.

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Other way to cohort, a little

more sophisticated, I'm going to

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make a cohort based on behavior.

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It might be the people who

use a discount code, or people

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whose first order is product X.

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those are two times.

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That's so fun.

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So I could see the difference in retention

by people that order the tires before

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the car and the car before the tires.

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Yeah.

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Now I start to see like, Oh, I

know my acquisition on the car is

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higher, but I should go after the

tires because they stay longer.

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Yeah.

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You can also look at commercial

factors that drive that, right?

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So if you're looking at, was it the

trial pack that drove a certain behavior?

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Or was it the discount

that drove the behavior?

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Or was it the deployment of a

campaign that drove the behavior too?

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So within that, you're also really looking

for a human being's behavior patterns

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and what the result on your business is.

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That's brilliant.

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And you called that cohort what?

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that was cohort retention.

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what we just walked into was segmentation.

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Okay, so let's talk

cohort retention first.

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How do I do cohort retention

without by the numbers?

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You just grab your, you divvy

up your customers by the first

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month, whichever month they

first made their first purchase.

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if you bought something today

for your first time, you

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are in this month's cohort.

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You do it next month, you're

in next month's cohort.

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Unless you're already in this month.

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Once you're in a cohort, you're

in that cohort forever, and

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then you just track them.

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And then you can compare month over

month retention rates, and you can

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do that instead of Google Sheets.

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Like, do they, how

often do they come back?

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And what this tells you, by the way,

is like, if you ran an interesting

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ad campaign in October, and you

got a set of clients that spends

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more money, you'll notice their

average order value is higher.

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You might notice their LTV is different.

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You might notice that they come back

more often, or they come back less

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often, but they spend more money.

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You just have to look at like the numbers.

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Well, it's so fun for a paid traffic

guy, because for me, it's always,

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cost per acquisition, obviously.

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And if my, seasonal, you have a

bunch of products that are seasonal.

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So seasonal products, if the cost

per acquisition is higher during

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a certain season, you think,

okay, that's not the season to

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maximize the value of our ad spend.

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So if I'm planning my annual budget

and my cost per acquisition is going to

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be higher, then I might move my budget

where it could be lower, but looking.

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Post click, post conversion, I see,

wait a minute, my cost per acquisition

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is 20 percent higher, but the cohort

value is three times because the

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retention is higher, the average

order value is higher, I'm actually

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making an inadequate decision.

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That would be a very difficult thing

to identify without doing the data

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analysis that you're talking about.

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Yeah, and you should just go look

at your last year's January cohort.

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January, February, traditionally, not

the best months for almost any store.

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Why?

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I don't know why, I

always see, I see dips.

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It's post holiday expend.

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so we're fatigued.

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We spent all the money.

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I'm poor.

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I don't want to do it again.

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It's a real thing.

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They're pairing.

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So people are paying their December

credit card bill in January and Feb.

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They're broke.

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That's like a very traditional.

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Spend and seasonality model for

lots of categories of products.

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Interesting.

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But if you go look at their

cohorts, for some people, people

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you pick up in January, February

are really good customers.

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if you can project, cause like you have

your historical data, you're two years

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old, you've seen two seasonal sales.

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You can get a sense of

what these people do.

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Then you can say, okay,

it is worth targeting it.

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If I can think 12 months instead of

thinking three months, and that's

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what the historical data is for.

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to move from cohort to segmentation,

segmentation is this idea of what you as

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a vendor know, what customer behaviors

matter to you, and you should slice up

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your customers based on that behavior.

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What if I don't, what are the behaviors

that you've seen are perfect question.

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Most impactful?

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Absolutely perfect.

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we obviously start with the standards.

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We're like people who use the

discount code, people who've

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never used the discount code.

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People who are in your top

percentile spent people with

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the highest average order value.

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Mm-hmm.

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. And then perfect segue.

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R f m analysis.

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what is R F M?

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Yeah.

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Recency frequency, monetization.

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We call it loyalty.

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So it's a graph.

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That doesn't change.

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It's just boxes you fall into.

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So have you ordered on the left

hand side, you think about how many

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times you've ordered in the last

month, along the bottom, you'll

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think about how much you spent, and

then there is recency, frequency,

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how recent your last purchase was.

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So here's your best customer.

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They've made four plus

orders in their lifetime.

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They've spent the highest amount,

and their last order was last week.

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those immediately get boxed best customer.

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You have loyal customers.

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They do, they've done, they do like three

orders, and they consistently do it once

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a month, and they spend a lot of money.

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You have dormant customers.

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They made one order.

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They've never ordered again.

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And then you can just grab those

emails and each one of them, there's a

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different strategy to talking to them.

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Your best customers, they

don't respond to deals.

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They don't respond to discount codes.

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They respond to knowing

about what's coming next.

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If you give them a sneak

peek of a product, a new bag.

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You say, Hey, we're just giving

this first to our best customers.

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They respond to that.

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Your loyal customers and the ones kind

of under your, underneath that, you

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can activate them in different ways.

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You can give them newsletters, you

can give them, You can give some

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of the lower end ones discounts.

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You're dormant ones.

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You just spam like, sorry to say it,

but they're dormant for a reason.

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Oh, there's buy, you're on subscribe.

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You're talking to marketers here.

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You're probably on like, that is our jam.

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Yeah, you can activate them, but you

also don't worry about turning them off.

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you take more of a white glove approach

with the high end, and you take more of

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a spammy approach with the low end, and

as they change in groups, you change

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your strategy, which is why tools

like Klaviyo are so important, right?

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have you used Klaviyo?

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I'm obsessed with Klaviyo.

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Yeah.

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I'm excited for high level to

take Klaviyo over, by the way.

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Have you heard that they're doing that?

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No.

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No, I did not.

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High level is building out something

akin to a Klaviyo, not alternative, but a

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couple of those features, or at least they

were, I don't know if that's still on the

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roadmap, that'll be interesting to see.

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And if you're watching this and

you want to use high level, make

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sure you click on my affiliate link

in the description of this video.

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Nice.

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Go ahead.

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we integrate with Klaviyo, like Klaviyo

has these segments, but we could just

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take our segments, link it to theirs.

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We update it every time someone

moves in and out of a segment

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and Klaviyo knows what to do.

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And the automation just go ahead and

fire knows how to speak to people.

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How not to speak to people.

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Yeah.

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So analysis paralysis,

you give me all this data.

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I have all these

segments, all the cohorts.

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Great.

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I'm overwhelmed and I

don't want to do anything.

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Where's where's the

hierarchical structure?

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Where do you start?

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I love this question.

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You set up goals.

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This came to us.

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we're product driven company and our

customers come to us with problems

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and we do our best to solve them.

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This is not an uncommon problem.

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How do I get my team, say my sales team

to move when are they doing enough?

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When aren't they doing enough?

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when do I need to go and set a goal.

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And that's what goals are for.

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So find a way to set

sales goals for your team.

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We have predictive tools that

could tell you how much you're

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going to make in a month.

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And I recommend, depending on what the

emotions of your team are, you either

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set the goal below or above what you're

about to do anyways, to either give

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them an easy win when they need it, or

push them when they need to be pushed.

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you have analysis paralysis, but

sometimes a little positive kick, it

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goes a long way, which is why on our

sales go, we use a lot of emotes.

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You don't see emotes anywhere else

in our app, except in the sales goals

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page because that's to motivate.

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Like, you know, it's all rocket ship

when you make it, it's a sad face

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when you don't, it's a hurrah, you

can do it as you're getting there,

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because it is about that motivation.

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What are the secret KPIs that

you're seeing people base decisions

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off of that are counterintuitive?

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Like, what are the things that

the more sophisticated e commerce

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stores are paying attention to that

I wouldn't necessarily, it wouldn't

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occur to me as an early stage owner?

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Oh, that's so interesting.

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I don't know what's counterintuitive.

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I only know what people use.

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Well, I'm not trying to play gotcha.

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I'm just curious if there's

things on the periphery.

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I know that's really smart.

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You live in the corner.

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: 00:12:58

No, really smart.

334

: 00:13:00

Cyrus, you got anything?

335

: 00:13:03

I was going to go back to the segmentation

for a second and just double down on that.

336

: 00:13:07

And the reason I do that, and it sort

of dovetails into your question, is that

337

: 00:13:12

There is data or sort of insight within

insight and it doesn't just come down

338

: 00:13:18

to the numerical or by the numbers, but

it's actually understanding what drove

339

: 00:13:23

those numbers and the behavior behind it.

340

: 00:13:25

So if you're saying what are the

things on the periphery that you

341

: 00:13:28

would want people to like really

know about or look about is.

342

: 00:13:32

Understand the numbers implicitly, and

I'm going back to segmentation here, but

343

: 00:13:36

then double down on not just understanding

the numbers, the behavior behind them.

344

: 00:13:41

So why did that free trial

create this response?

345

: 00:13:45

Like we've segmented the data,

we've seen that customer group, and

346

: 00:13:49

we've seen the results behind it.

347

: 00:13:51

I want to go back and actually

understand how that customer behaved in

348

: 00:13:55

the why, not just the results, right?

349

: 00:13:58

And I look at that as a balance

between lead and lag measures.

350

: 00:14:02

Right now we have the ability to

look at all these lag measures

351

: 00:14:05

within a business's performance and

we have the ability to forecast and

352

: 00:14:09

we have the ability to set goals.

353

: 00:14:11

But one thing that you really need

to think about as a person who's

354

: 00:14:14

running e commerce business, you have

to think about what is the behavior

355

: 00:14:18

that's driving these results, right?

356

: 00:14:21

And some of those things can

be more difficult to measure.

357

: 00:14:24

And yes, we can track clicks.

358

: 00:14:26

Yes, there can be fingerprints.

359

: 00:14:28

Within the value chain of

how a customer responds.

360

: 00:14:31

But for me, I was a loyalty or a CRM

manager at an e commerce business,

361

: 00:14:38

all of this data and all of these

visualizations and all of this way to

362

: 00:14:42

look at it, to me, that's table stakes.

363

: 00:14:45

If you're not doing this, like.

364

: 00:14:47

There's a huge huge amount of money that

you're leaving on the table If you are

365

: 00:14:51

doing all of this Then the next step

for me is looking at the behavior of

366

: 00:14:56

the consumer and the consumer journey

that is driving those results And so

367

: 00:15:01

if i'm able to do that I can calculate

seven different versions of LTV and

368

: 00:15:06

KPIs that no one's ever heard of.

369

: 00:15:09

But if you're not building that

connectivity and understanding of your

370

: 00:15:13

customer's behavior, which actually

drives those KPIs, that's the gap for me.

371

: 00:15:18

And the people that I see who do it

really, really, really well are naturally

372

: 00:15:25

curious about that versus trying to

think about how do I just move this KPI

373

: 00:15:30

by half a percentage point this month

so I look great to my manager, right?

374

: 00:15:34

That's the difference maker for me.

375

: 00:15:37

I could do it in three words.

376

: 00:15:39

if you're saying it took me

like, no, you're brilliant.

377

: 00:15:41

This is where I got it from.

378

: 00:15:42

Like everything you said is right.

379

: 00:15:43

There's one KPI for that.

380

: 00:15:45

That's like that.

381

: 00:15:46

There are many products

purchased together.

382

: 00:15:48

So that's exactly kind of what I was

driving at, I know they're on the

383

: 00:15:51

periphery, you don't know when you put

it in front and center, it gives you

384

: 00:15:54

the option to look at something three

dimensionally and start to optimize.

385

: 00:15:58

yeah, that's a great one.

386

: 00:15:59

you get that.

387

: 00:16:00

it's a little bit too perfect because it's

not a number, it's, great products right

388

: 00:16:03

yeah there's a number they're like this

product was bought 114 times together.

389

: 00:16:07

You want to know what are pairing?

390

: 00:16:09

And then you'll know as a vendor, what

to do with that data, you know, as a

391

: 00:16:12

marketer, if you see purchases drop.

392

: 00:16:16

Very often you could blame interest,

let's say, maybe people are buying

393

: 00:16:20

mechanical pencils and they're buying lead

refills and all of a sudden you realize,

394

: 00:16:23

Oh, my lead refill sales are down.

395

: 00:16:24

We need to add ad spend to

the lead refill campaign.

396

: 00:16:27

And it's like, no, dude, you ran

out of pencils and those two things

397

: 00:16:30

are always purchased together.

398

: 00:16:31

You're looking at the wrong dataset.

399

: 00:16:32

Exactly.

400

: 00:16:35

Yeah.

401

: 00:16:35

Those that's fun.

402

: 00:16:36

So I did some consulting for

infusion soft a long time ago.

403

: 00:16:39

They're a dumpster fire now.

404

: 00:16:40

So I'm not endorsing them,

at the time they were cutting

405

: 00:16:42

edge they found something that

I thought was so interesting.

406

: 00:16:44

They brought in a guy, some SAS

consultant, he'd built who knows

407

: 00:16:48

what, and did a billion dollar

exit, really brilliant human.

408

: 00:16:51

And he did an analysis of all

their customers and he found that.

409

: 00:16:54

The customers that

retained did two things.

410

: 00:16:57

They uploaded their contact list

into the infusion soft CRM, and

411

: 00:17:01

they sent their first email blast.

412

: 00:17:02

And you think like that's the most

rudimentary set of whatever that

413

: 00:17:05

I've ever heard, but the infusion

soft built their sales team so

414

: 00:17:09

that you didn't get commissions.

415

: 00:17:11

Until the person you sold uploaded their

contact list and sent off the very first

416

: 00:17:15

email blast and then their retention

went from like averaging three months to

417

: 00:17:18

14 months because now you actually have

their contact information you're sending.

418

: 00:17:21

I've always thought that that was such a

brilliant analysis and it was so simple.

419

: 00:17:25

It was bam inflection point.

420

: 00:17:27

We're going to focus on this.

421

: 00:17:28

I also feel like you can do that in ecom.

422

: 00:17:31

I don't know how, and it's really

easy for me to be like, you guys

423

: 00:17:34

look what they did over here.

424

: 00:17:35

How do we carry this?

425

: 00:17:36

But you've got the numbers in order

to be able to identify, because

426

: 00:17:39

there are e commerce stores where

I just feel like, yeah, we do.

427

: 00:17:43

We have a client that does

barbecue sauce and there's this.

428

: 00:17:46

There's a difference between somebody

that comes in and buys a sample

429

: 00:17:48

pack and somebody that comes in and

buys a sample pack and then buys the

430

: 00:17:51

barbecue to us every single month.

431

: 00:17:53

And I just feel like there's

ways to influence that a little.

432

: 00:17:56

You're so on point.

433

: 00:17:57

We just set this out in our latest drip

campaign, where we told people that

434

: 00:18:01

we see a 5 percent increase in sales

for customers that use segmentation.

435

: 00:18:06

If you use segmentation by the

numbers, your sales are going up.

436

: 00:18:10

So I don't know, it's dead simple.

437

: 00:18:13

All you're doing is saying, let me

split my customers based on behavior.

438

: 00:18:17

I don't like you could be doing a

million different things with that

439

: 00:18:20

data, but just the act of thinking

about your customers in different ways

440

: 00:18:24

and saying, I just want to know about

customers whose first purchase was this.

441

: 00:18:28

Yeah, it's relevancy right guys.

442

: 00:18:31

Yeah, it's being specific, maintaining

continuity, congruence with their journey.

443

: 00:18:35

it's relevant to me my background, I

come from a package good space, right?

444

: 00:18:39

So, consumer package goods, alcohol, Bev,

cannabis, that's my background and sort

445

: 00:18:45

of what I love and get very curious about

is behavior and the why's behind it, for

446

: 00:18:51

me, the segmentation piece is key because

you're actually speaking to the customer

447

: 00:18:56

in a more realistic way and something

that's more relevant and it's less spammy.

448

: 00:19:00

Right.

449

: 00:19:00

Like it's more relevant to how I behave

and how I think as a consumer versus,

450

: 00:19:07

this is a generic message for everybody.

451

: 00:19:10

And that's the difference.

452

: 00:19:11

I feel like you get me as a brand,

I'm emotionally connected to you

453

: 00:19:15

dependent on what you're selling.

454

: 00:19:19

The consumer may be ingesting

this product into their bodies.

455

: 00:19:23

They may be wearing these products.

456

: 00:19:25

They may be slathering it all

over their skin as a cream.

457

: 00:19:29

And that has a real, real emotional

connection with the consumer.

458

: 00:19:33

And if the consumer thinks for a second

that the brand is talking to them, the way

459

: 00:19:38

they talk to everybody, that's a huge gap.

460

: 00:19:42

And that's a gap that you can actually

close by understanding people better,

461

: 00:19:46

whatever method you want to get to

understanding, whether it's, understanding

462

: 00:19:50

products bought together, understanding

what drove trial, understanding what

463

: 00:19:55

drove a repeat or a higher acquisition.

464

: 00:19:58

It just comes back to you understand me.

465

: 00:20:00

I feel emotionally connected with you.

466

: 00:20:03

And as nerdy as it is using the

data can actually help you get to

467

: 00:20:07

that understanding of the consumer.

468

: 00:20:10

I feel like you need a podcast.

469

: 00:20:13

You got that like classic communicators

cadence that just desires to be heard.

470

: 00:20:17

You're good at this dude.

471

: 00:20:18

I like everything that you just said.

472

: 00:20:20

I especially like the way that you

connected numbers to an empathic

473

: 00:20:24

understanding of the human condition

as it relates to your products.

474

: 00:20:28

Because I could say like, Oh, I sell

barbecue sauce who gives a shit.

475

: 00:20:31

Or I could also say, I sell something that

you're about to put in your children's

476

: 00:20:34

body, which is what you just said.

477

: 00:20:36

Like that's a sacred trust.

478

: 00:20:38

That's a big deal, like I am responsible

for something that you're going to

479

: 00:20:42

ingest, and I should look at it that way.

480

: 00:20:45

I really love that you went there

Payam, you said something that

481

: 00:20:49

I just said your name, right?

482

: 00:20:50

Yep.

483

: 00:20:51

Absolutely.

484

: 00:20:51

You said something that struck me,

and I don't know if you're allowed

485

: 00:20:53

to share this or want to share this.

486

: 00:20:56

It's a two part question.

487

: 00:20:57

How many Shopify stores

used by the numbers?

488

: 00:21:01

Part one.

489

: 00:21:01

Part two.

490

: 00:21:03

Are you and do you amalgamate all

that data so you can see trends

491

: 00:21:09

and start to look at like, oh my

goodness, the, planets are shifting.

492

: 00:21:13

That's exactly it.

493

: 00:21:14

retrograde.

494

: 00:21:14

Okay.

495

: 00:21:15

We cannot ever share data

about any individual user.

496

: 00:21:18

Right.

497

: 00:21:19

We can amalgamate that user, throw it

into a matrix do multiplication over

498

: 00:21:23

it, and then everyone can benefit.

499

: 00:21:26

In the predictive tools.

500

: 00:21:27

So some industries are sort of leading

indicators or lagging indicators of sales.

501

: 00:21:35

And we could use that.

502

: 00:21:37

So the more data we have, the

better our prediction is for the

503

: 00:21:40

individual, if that makes sense.

504

: 00:21:43

That makes perfect sense.

505

: 00:21:45

Yeah, it's similar.

506

: 00:21:47

Yeah, but we never surface anything

because it's just machine learning.

507

: 00:21:50

it's a matrix of numbers.

508

: 00:21:52

You don't even have to reason that as you

get bigger you get better because you have

509

: 00:21:54

more clients to build into the mechanism.

510

: 00:21:58

I didn't share with you numbers.

511

: 00:22:00

I have no idea.

512

: 00:22:00

Do we share numbers?

513

: 00:22:02

I'm not sure if we share numbers.

514

: 00:22:04

I don't care, but this guy's

in charge of this stuff.

515

: 00:22:06

Don't if you're not comfortable with it.

516

: 00:22:08

There's reasons.

517

: 00:22:09

I think you should always be honest

about everything and hide nothing, Yeah,

518

: 00:22:12

well, you're the by the numbers guy.

519

: 00:22:13

So let me ask you this.

520

: 00:22:14

Categorically speaking, I think

we could speak percentages.

521

: 00:22:18

What are your users are generally

what like consumables, apparel,

522

: 00:22:22

accessories, where do you live?

523

: 00:22:23

Question.

524

: 00:22:25

Full analysis to figure out

the, do you have a sense?

525

: 00:22:27

You don't know your own segments.

526

: 00:22:29

I don't know my own segments.

527

: 00:22:31

Listen, talk to Cyrus about this.

528

: 00:22:33

Your sales list by 5%.

529

: 00:22:35

As soon as Cyrus's bag.

530

: 00:22:40

What I was going to say was we

actually just spent a whole bunch

531

: 00:22:43

of time doing some segmentation

to learn more about our customers.

532

: 00:22:47

And this span.

533

: 00:22:50

Of our customers is really interesting

in the sense that from a revenue

534

: 00:22:55

generation perspective, it's like A

to Z, like it's really, really cool.

535

: 00:23:00

We've got some customers in the 150,

000 range, and we've got customers in

536

: 00:23:05

the a hundred million dollar range.

537

: 00:23:06

Is that, that's monthly.

538

: 00:23:07

annual revenue.

539

: 00:23:09

So what's really cool about that

is the level of sophistication of

540

: 00:23:14

who you're working with, right?

541

: 00:23:15

you're all the way from a mom and pop

to, I've got five people working on

542

: 00:23:20

my e commerce loyalty team, right?

543

: 00:23:23

That's the span of our client base.

544

: 00:23:25

And for me, I love that because

I get to help the sole proprietor

545

: 00:23:31

and I get to help the, giant

company and everything in between.

546

: 00:23:35

So.

547

: 00:23:36

I could sit here for hours and talk

to you about the segmentation, but the

548

: 00:23:39

revenue segmentation is super wide.

549

: 00:23:42

The geographic segmentation is really

cool too, in the sense that we've got

550

: 00:23:46

a lot of customers in North America,

we've got a ton of customers in

551

: 00:23:50

Europe, and we even have customers

all the way in Australia as well.

552

: 00:23:54

Do European customers suffer from the

GDPR issues as far as number tracking

553

: 00:23:58

is concerned because you can't append

those numbers to individual prospects?

554

: 00:24:01

Have you been able to hurdle that at all?

555

: 00:24:02

Or do you just have a

We comply for everybody.

556

: 00:24:05

we just decided that we should

do it their way for everybody.

557

: 00:24:07

So the tool works across

the board no matter what?

558

: 00:24:09

Okay.

559

: 00:24:10

Yeah.

560

: 00:24:10

Compliant.

561

: 00:24:11

Yeah.

562

: 00:24:11

Yeah.

563

: 00:24:12

GDPR frustrates the shit out of me because

it feels impossible to comply with.

564

: 00:24:16

it was not fun for Fred

is what I would say.

565

: 00:24:19

Okay.

566

: 00:24:21

Didn't hurt me.

567

: 00:24:23

So there's geographic segmentation,

there's revenue segmentation, but

568

: 00:24:27

when it comes to the product side, I

love going to our customers websites

569

: 00:24:31

because it's links is to their

URLs and I go and click on it and.

570

: 00:24:36

All I can say so far is the diversity

is extremely wide and there doesn't

571

: 00:24:42

seem to be any sort of trend right now.

572

: 00:24:45

The only trend that we're really

finding is the customers are linked

573

: 00:24:50

through Individuals that we're

starting to start conversations with.

574

: 00:24:54

And those are, people who work

at an agency level, like they

575

: 00:24:58

love our product and they go

and tell their customer groups.

576

: 00:25:01

We were speaking to an individual

and she shared with us that, she

577

: 00:25:04

recently worked on these five different

customers and it turns out they all

578

: 00:25:08

became customers of ours, right?

579

: 00:25:10

So that was the only common

theme that we found, but.

580

: 00:25:14

everything from fishing gear to

clothing and apparel to food based

581

: 00:25:19

products to sports based products.

582

: 00:25:21

The spectrum is super wide.

583

: 00:25:24

And to me, that is a really exciting

opportunity as somebody coming into

584

: 00:25:28

a business, because I'm not obsessed

about sort of tailoring something

585

: 00:25:33

to a particular product vertical,

which makes my job very complicated.

586

: 00:25:38

But what it signals to me on the

other side is saying, Hey, This

587

: 00:25:43

stuff is important for everybody.

588

: 00:25:45

I don't care what you sell.

589

: 00:25:47

Like, you could sell, socks or

you could sell fishing rods.

590

: 00:25:51

This data, however you choose to get

it, however you choose to package

591

: 00:25:56

it, however you want to visualize

this data, just go and do it because

592

: 00:26:00

it'll help drive your business.

593

: 00:26:02

Hmm.

594

: 00:26:03

Where do people find you guys?

595

: 00:26:05

If I want to go try Buy the

Numbers, where do I do that?

596

: 00:26:09

Buythenumbersapp.

597

: 00:26:09

com or on the Shopify store.

598

: 00:26:12

Look for Buy the Numbers.

599

: 00:26:13

And if somebody wanted to start

using it, how hard is it to set up?

600

: 00:26:17

It's one click.

601

: 00:26:17

You don't need a credit card.

602

: 00:26:19

It's free for two weeks.

603

: 00:26:20

that's it.

604

: 00:26:21

Only for Solutions 8 YouTube

channel though, right?

605

: 00:26:23

Absolutely.

606

: 00:26:24

You have to mention Solutions 8.

607

: 00:26:26

Mention this podcast.

608

: 00:26:28

That's right.

609

: 00:26:29

So here we are, buythenumbersapp.

610

: 00:26:31

com.

611

: 00:26:31

Y'all, John sings this

app's praises beyond belief.

612

: 00:26:35

That's how Payam and I met, actually.

613

: 00:26:37

He came onto the Perpetual Traffic

podcast and started pimping it out.

614

: 00:26:40

Did y'all get any lift from that?

615

: 00:26:41

We did.

616

: 00:26:42

That's how I heard about you.

617

: 00:26:43

I had multiple customers reach out to

me and say they heard it through your

618

: 00:26:46

app, your podcast was really exciting.

619

: 00:26:48

Also for a small company like us, where

it's just like two, three people, it makes

620

: 00:26:52

such a difference to hear stuff like that.

621

: 00:26:55

Yeah.

622

: 00:26:56

It's really emotionally uplifting.

623

: 00:26:58

I don't know how else to put it.

624

: 00:26:59

Thank you.

625

: 00:27:01

You're doing great work in a great way.

626

: 00:27:02

I love your product first paradigm.

627

: 00:27:05

Nobody does that anymore.

628

: 00:27:06

You know what I mean?

629

: 00:27:07

Like nobody, especially in the software

space, dear God just been cannibalized and

630

: 00:27:11

it's sad because it's been cannibalized

by the smartest people in the world.

631

: 00:27:14

You know, like when something's

been cannibalized by dummies, like

632

: 00:27:16

real estate, it's like, all right,

I'm going to go beat the dummies.

633

: 00:27:19

But when something's been cannibalized

and it's like the most finances

634

: 00:27:22

this way too, it's just like, oh,

the smartest people in the world.

635

: 00:27:25

are taking this and they're

ruining it and it's hard to fight.

636

: 00:27:28

So when you see some guys that fit in

that moniker, like you're obviously part

637

: 00:27:31

of the consortium, there's the smartest

guys in the world, but you just chose to

638

: 00:27:34

do it kind of in a slightly different way.

639

: 00:27:36

I feel that way about Sam Altman.

640

: 00:27:38

I think the way they built open

AI and chat GPT is, is absurd

641

: 00:27:42

from a monetization perspective.

642

: 00:27:43

It makes no damn sense whatsoever,

There was the right way to do that.

643

: 00:27:47

By the way, do you use it?

644

: 00:27:48

I use it every day.

645

: 00:27:49

I'm obsessed with it.

646

: 00:27:51

I'm obsessed with Sam.

647

: 00:27:52

I'd cuddle with that guy.

648

: 00:27:53

If he allowed me.

649

: 00:27:54

Dude, big spoon, little spoon.

650

: 00:27:55

I just think he's great.

651

: 00:27:57

Yeah.

652

: 00:27:57

But it's because it's not how

are we gonna ROI instantly.

653

: 00:28:00

It's, hey, I think I'm doing something

that's gonna have a massive impact

654

: 00:28:03

on people's lives and I should

probably do that the right way.

655

: 00:28:05

And you guys seem to be approaching

this in a very similar fashion.

656

: 00:28:07

And if you're watching this, we

obsess over this all the time.

657

: 00:28:11

If you don't know your numbers,

This is the easy button.

658

: 00:28:14

Not an affiliate.

659

: 00:28:15

I don't have an affiliate link.

660

: 00:28:16

I should at some point, I'm going to get

one, but right now today, just go to buy

661

: 00:28:19

the numbers, install it into Shopify.

662

: 00:28:21

you've got 14 days.

663

: 00:28:22

If you don't make one actionable decision

based off of the data, then jump ship.

664

: 00:28:27

But if you don't make one actual

decision based off of the data,

665

: 00:28:30

you're doing something wrong.

666

: 00:28:31

So really appreciate y'all being

here and hope we have you back.

667

: 00:28:35

There's strategic

partnerships in the future.

668

: 00:28:36

Last words to you guys.

669

: 00:28:38

What are the closing

comments for people watching?

670

: 00:28:41

I don't go for it.

671

: 00:28:43

Sure.

672

: 00:28:43

Thank you to everyone

who uses our product.

673

: 00:28:45

Honestly, we are, like

you said, product driven.

674

: 00:28:48

We care about you as a customer.

675

: 00:28:49

So reach out to me.

676

: 00:28:51

I answer and read every single email

that sent you're not talking to a

677

: 00:28:55

faceless customer service person.

678

: 00:28:57

You're talking to co founders.

679

: 00:29:00

Tell me what you use it for.

680

: 00:29:01

Tell me what you wish

you could use it for.

681

: 00:29:03

That's how we've gone to where we are.

682

: 00:29:05

I love that, man.

683

: 00:29:06

That's great.

684

: 00:29:07

Like, comment, subscribe.

685

: 00:29:08

You know how YouTube works.

686

: 00:29:09

I'll see y'all tomorrow.

687

: 00:29:10

Peace!