In this episode of eCommerce On Tap, we’re joined by Matthew, the CEO of Build Grow Scale, a company that stopped counting the revenue it generated for its clients after reaching 9 figures. With over a decade of experience and a remarkable track record of continued success, Matthew shares his insights with Nathan.
From Concrete to Clicks: A Stroke of Luck and Determination
Matthew’s story begins with an auspicious stroke of luck, coupled with unrelenting determination. A decade ago, he embarked on an e-commerce adventure that would ultimately change his life. In the early years, through a combination of hard work and good fortune, Matthew orchestrated around $15 million in t-shirt sales. It was during this period that he realized his true calling lay within the e-commerce landscape.
Before his foray into e-commerce, Matthew toiled in the concrete business, a profession demanding Herculean physical effort. The transition into the world of online retail presented not only a change in livelihood but an entirely new way of looking at and conducting business. The grueling toil of concrete gave way to the intricacies of online entrepreneurship, marking a significant transformation in Matthew’s life.
The Epiphany: Traffic’s Not Your Problem
The paramount lesson he learned on this journey was clear: the magnitude of traffic figures mattered less than the efficacy of one’s conversion strategies. Build Grow Scale’s guiding principle embodies this realization: “Traffic’s not your problem.” The essence of this maxim lies in the understanding that irrespective of the traffic volume, what truly matters is the ability to convert visitors into customers.
“If you convert at 2%, that means 98 people that came to your site left and didn’t buy. Rather than going and buying more traffic, let’s find 2 more of those 98 that left and double your business.”
Mastering Conversion Rate Optimization: A Paradigm Shift
Matthew’s expertise centers around conversion rate optimization, a facet of e-commerce often overshadowed by the allure of increasing website traffic. In this realm, he has excelled by guiding businesses towards unlocking the true potential of their existing audience.
One of Matthew’s most potent conversion rate optimization tactics revolves around the checkout process. In a world where most e-commerce sites default to standard form fields, Build Grow Scale’s team has recognized the power of personalized engagement. By crafting persuasive messages within these form fields, they prompt users to willingly share their information.
The result? Higher conversion rates and reduced cart abandonment, all thanks to the simple act of providing reasons for asking for their contact such as “Email required for your order confirmation.”
“If you think about it, the number one most opened email sent is order confirmation, it has over 85% open rate.”
Matthew also uses the line, “Phone required for shipping notification.” Not only does it work but it also helps businesses capitalize on the effectiveness of SMS as a tool for sales recovery.
Single-Page vs. Multi-Step Checkouts: The Ongoing Debate
In a world of multi-step and single-page checkouts, Matthew sheds light on the ongoing debate. While single-page checkouts have become increasingly prevalent with the rise of platforms like Shopify, Matthew’s experience reveals that multi-step checkouts still have their merits.
Shoppers have grown accustomed to the multi-step process, and introducing something radically different can disrupt the user experience. Thus, the choice between the two often depends on the specific dynamics of a business and its audience.
Serving a Diverse Spectrum: Build Grow Scale’s Clientele
Build Grow Scale caters to a diverse array of e-commerce brands, ranging in size and scale. The agency side of its operations targets larger clients, typically those generating $200,000 to $250,000 in monthly revenue. For these clients, Matthew’s team deploys a dedicated five-person unit, leveraging data and analytics from their partnered brands to refine their strategies continually.
A Community of E-Commerce Enthusiasts: The Build Grow Scale Membership
On the other hand, Build Grow Scale’s membership community extends its reach to e-commerce store owners across the spectrum. From those just starting, generating around $5,000 per month, to established entities earning well over a million dollars per month, this community thrives on knowledge sharing. Matthew and his team provide invaluable insights, equipping members with the tools they need to thrive in the ever-evolving e-commerce landscape.
A/B Testing: The Science of Improvement
When it comes to A/B testing, Matthew emphasizes the importance of conducting these tests concurrently to ensure consistency in the quality of traffic. His preferred tool, Google’s Optimizely, integrates seamlessly with Google Analytics and leverages Google Tag Manager for comprehensive event tracking. With an average of 90 to 100 tagged events per site, Matthew not only gains insights into A/B test results but also identifies optimization opportunities deeper into the funnel.
Simplicity and Clarity: The Winning Formula
The crux of Matthew’s philosophy lies in simplicity and clarity. He advocates for a minimalistic approach to web design and content. Often, less is more. The removal of unnecessary elements, stemming from misconceptions about what users require, frequently yields significant improvements in conversion rates.
Customer-Centric Approach: The Key to Success
Matthew urges e-commerce entrepreneurs to adopt a paradigm shift, urging them to view their stores from the customer’s perspective. The critical question should be: “Can I understand what I’m getting, and is navigation intuitive?” This customer-centric approach, he believes, is the cornerstone of success in e-commerce.
The Never-Ending Journey: Embracing Continuous Optimization
In closing, Matthew offers a crucial piece of advice for all aspiring and established e-commerce entrepreneurs: the journey of optimization never ends. E-commerce is a dynamic and ever-changing domain. To remain competitive and successful, one must embrace continuous optimization as an intrinsic part of their business strategy.
Takeaway
Matthew’s story is a testament to the immense potential within the world of e-commerce. With the right strategies, unwavering dedication, and an unquenchable thirst for improvement, the $400 million milestone is not the final destination—it’s just another step in the journey. If you’re looking to tap into the wisdom of an e-commerce maestro, Matthew and Build Grow Scale are the guiding lights you need.
Get in Touch with Build Grow Scale
For those eager to connect with Matthew and learn from his wealth of experience, visit Build Grow Scale or drop him an email at matt@buildgrowscale.com.
In the world of e-commerce, where success stories are carved out by those who dare to innovate and optimize relentlessly, Matthew’s journey stands as a shining example of what’s achievable. The path to e-commerce excellence may be challenging, but with the proper guidance, it’s a path well worth traversing.