Welcome to the e-Commerce podcast with
Matt Edmundson:me, your host, Matt Edmundson.
Matt Edmundson:Now this is a show all about helping you deliver e-commerce.
Matt Edmundson:Wow.
Matt Edmundson:And to do that today I'm chatting with a fellow Brit
Matt Edmundson:Tony Conte from Brave Agency, and we are gonna be talking
Matt Edmundson:about marketing everything to do with e-commerce marketing,
Matt Edmundson:which I know is a topic we're all interesting 'cause
Matt Edmundson:why would we not be right?
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Matt Edmundson:Better.
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Matt Edmundson:Now, before we get into the conversation, I just want to
Matt Edmundson:give a little bit of a shout out to my mate, Darren Hickey, uh,
Matt Edmundson:who connects us from Fellowship.
Matt Edmundson:If you don't, if you're a regular to the show, you
Matt Edmundson:may recognize the name.
Matt Edmundson:Darren was on it back in November.
Matt Edmundson:Uh, and we talked about WooCommerce.
Matt Edmundson:He's a bit of a WooCommerce expert.
Matt Edmundson:Uh, and so Darren introduced both Tony and myself.
Matt Edmundson:And so Tony is here because of Darren?
Matt Edmundson:Yes, he is.
Matt Edmundson:So just say thanks to Darren 'cause Darren's a legend.
Matt Edmundson:Thanks Darren.
Matt Edmundson:Uh, there you go.
Matt Edmundson:Thanks Darren.
Matt Edmundson:Uh, let's meet, uh, Tony, the founder of Brave Agency,
Matt Edmundson:a digital pioneer in brand.
Matt Edmundson:Marketing and e-commerce since the mid nineties
Matt Edmundson:did a decade evens exist?
Matt Edmundson:We don't know, do we?
Matt Edmundson:Uh, in 2000, he launched Brave from his garage with zero
Matt Edmundson:clients and a big vision, an integrated agency where
Matt Edmundson:creativity, tech, and strategy unite for client success.
Matt Edmundson:Today, brave turns clicks into loyal customers and
Matt Edmundson:helps ambitious brands push boundaries and thrive.
Matt Edmundson:And you know what, Tony, the thing that I love is, you've
Matt Edmundson:been doing this since the mid.
Matt Edmundson:Nineties now.
Matt Edmundson:I started my little journey around 1997, about a year
Matt Edmundson:before I got married.
Matt Edmundson:Um, ah, and so, and I started in e-commerce in 2002.
Matt Edmundson:So, uh, I often referred to myself as
Matt Edmundson:an e-commerce dinosaur.
Matt Edmundson:I. No,
Tony Conte:not at all.
Tony Conte:I don't The dinosaur we Not the dinosaur.
Tony Conte:We were, we were the pioneers.
Tony Conte:That's true.
Tony Conte:If it wasn't for us, then uh, there would be no internet.
Tony Conte:No, not no internet, but commerce,
Matt Edmundson:no.
Matt Edmundson:I'm gonna take the internet.
Matt Edmundson:If it wasn't for me and you tiny, there
Matt Edmundson:would be no internet.
Matt Edmundson:Everybody.
Matt Edmundson:You're, you're welcome.
Matt Edmundson:Yeah.
Matt Edmundson:That's all I can say.
Tony Conte:We've both, we've both seen the.com
Tony Conte:bubble, haven't we?
Matt Edmundson:We saw it.
Matt Edmundson:We saw it burst.
Matt Edmundson:We did.
Matt Edmundson:It came and it went really quickly and everyone's
Matt Edmundson:like, what is going on?
Matt Edmundson:Uh, uh, to be fair, we've seen everything.
Matt Edmundson:I mean, there was no mob mobile phones.
Matt Edmundson:You didn't have to worry about mobile commerce.
Matt Edmundson:There was basically, you just had a website and you can, it
Matt Edmundson:took us a while to even figure out email marketing, you know?
Matt Edmundson:Exactly.
Matt Edmundson:It's like what?
Matt Edmundson:Yeah.
Matt Edmundson:Google just seemed to pick you up because it did.
Matt Edmundson:Yeah.
Matt Edmundson:And then it was a few years later, Google AdWords came in.
Matt Edmundson:So, I mean, all these things, you've sort of seen them come
Matt Edmundson:and a lot of things you've seen come and go, really?
Matt Edmundson:So it's, it is cool that you've been around, you know,
Matt Edmundson:a, a, a, uh, as they say, and you, you've obviously,
Matt Edmundson:you must have enjoyed it.
Tony Conte:Yes, it's, has its ups and downs.
Tony Conte:Um, been a lot of changes, a lot of challenges along the way.
Tony Conte:Mm-hmm.
Tony Conte:Um, but the way that everything, I'd say just the way that
Tony Conte:people interact with, you know, online channels, uh, just has
Tony Conte:changed so much over the years.
Tony Conte:Yeah.
Tony Conte:Um, but that means that you have to be kind of thinking
Tony Conte:about what the next way, shape, or form of, of a,
Tony Conte:of a website should be, or in terms of how they're
Tony Conte:gonna in interact with that, that, um, advert, et cetera.
Tony Conte:Um, the fundamentals are still there.
Tony Conte:You've gotta attract, engage, and per, you know, effectively
Tony Conte:persuade them to purchase.
Tony Conte:It's just that the, the, the, the speed at which
Tony Conte:now we can develop.
Tony Conte:Um.
Tony Conte:Marketing in general.
Tony Conte:Online is, uh, is just a, you know, it is just, it, it, it
Tony Conte:literally, it is too quick.
Tony Conte:Yeah.
Tony Conte:For, I think, I think the actual techno, I think we're
Tony Conte:finding that the technology is, although it's helping us to
Tony Conte:kind of speed up the processes and the analytics et et cetera,
Tony Conte:it, it's, it's even faster now.
Tony Conte:And obviously with ai it's, it's, yeah, it's balloons
Tony Conte:now to a, a crazy level.
Tony Conte:So, um, yeah, it's exciting.
Tony Conte:It's certainly, um.
Tony Conte:I'd say it's not for the faint hearted, for sure.
Tony Conte:Mm-hmm.
Tony Conte:Um, but yeah, it's, it's been enjoyable.
Tony Conte:He says, says
Matt Edmundson:secret gr.
Matt Edmundson:Yeah.
Matt Edmundson:It's funny, isn't it?
Matt Edmundson:Because I, as I'm talking, I'm getting all nostalgic now, but
Matt Edmundson:as I'm, as we're talking Tony, I'm kind of thinking, you know
Matt Edmundson:what, when, when I launched my first website back in 2002,
Matt Edmundson:marketing was literally launching the website, right.
Matt Edmundson:And search engines.
Matt Edmundson:Managed to pick it up.
Matt Edmundson:And there was ma there weren't that many, uh,
Matt Edmundson:websites back then.
Matt Edmundson:So you, you tended to get on page one.
Matt Edmundson:Mm-hmm.
Matt Edmundson:And people were, were sort of, they would buy it and
Matt Edmundson:then they would call to make sure you were legitimate
Matt Edmundson:because they, you know, they felt twitchy about giving you
Matt Edmundson:their credit card details.
Matt Edmundson:But marketing, um, in some respects, as we know it
Matt Edmundson:now, didn't exist that whole, you know, the whole
Matt Edmundson:realm of digital marketing.
Matt Edmundson:But what did exist was the fundamentals, as you say,
Matt Edmundson:so of old school principles.
Matt Edmundson:The website had to attract people, it had to make sense,
Matt Edmundson:you know, uh, you had to deliver a great service.
Matt Edmundson:For those people to come back and buy again.
Matt Edmundson:These things have always been sort of timeless, haven't they?
Matt Edmundson:Even sort of pre-internet.
Matt Edmundson:Yeah.
Matt Edmundson:And uh, one of the things that sort of strikes me about a lot
Matt Edmundson:of e-commerce entrepreneurs, a lot of conversations I have
Matt Edmundson:in essence I can summarize in a single statement, is
Matt Edmundson:that a lot of people are looking for the silver bullet.
Matt Edmundson:Like, if I just pull this one lever, like if I spend
Matt Edmundson:10 grand on Facebook ads or if I do TikTok or whatever
Matt Edmundson:it is, you know, whatever the latest thing is, I'm gonna
Matt Edmundson:pull that lever and it's gonna make me a millionaire.
Matt Edmundson:Right.
Matt Edmundson:Do you, do you get a lot of these inquiries?
Tony Conte:Uh, yeah.
Tony Conte:A hell of a lot.
Tony Conte:Um, we get a, yeah.
Tony Conte:I think generally speaking, they think one
Tony Conte:channel will save it all.
Tony Conte:And, and, um, the reality of it is, is that it's, it.
Tony Conte:There's gotta be, there's, there's gotta
Tony Conte:be about 10 channels.
Tony Conte:You could, there's 10 levers you can pull.
Tony Conte:That's just, you know, um, but each one works.
Tony Conte:In its own way, but has contributes to
Tony Conte:each one, basically.
Tony Conte:Yeah.
Tony Conte:You can't run, as you know, you can run paid advertising, that's
Tony Conte:fine, but if you put your ads in one basket, then your e-commerce
Tony Conte:brand, it is only as worth as much as a paid ad campaign.
Tony Conte:Yeah.
Tony Conte:If you're not generating content or social proofing,
Tony Conte:SEO, et cetera, you know, I personally wouldn't buy.
Tony Conte:An e-commerce brand, if they didn't have organic
Tony Conte:traffic sales attribution attributed to SEO.
Tony Conte:Mm-hmm.
Tony Conte:Because anybody could, any, anybody can throw money at it.
Tony Conte:Yeah.
Tony Conte:So.
Tony Conte:We, they'll come in and say, okay, we, we need to do TikTok.
Tony Conte:Well, yeah, you need to do TikTok, but where's the brand?
Tony Conte:Mm-hmm.
Tony Conte:Where's the positioning?
Tony Conte:Where's the social proof?
Tony Conte:And is the product fit for fit for the audience?
Tony Conte:You know, so there's, I think it's become, yeah.
Tony Conte:I dunno if that answers a question, but Yes.
Tony Conte:Lots of times.
Tony Conte:Can we just do SEO No, you can't just do seo or can you
Tony Conte:do, you know, can, can we just do, um, TikTok shop and forget
Tony Conte:about any, anything else?
Tony Conte:Kind of, it's possible, but there's a ceiling
Tony Conte:on that as well.
Tony Conte:So, um, I think it's just got a lot more, um, uh, mixed.
Tony Conte:You know, it's now on, you know, multi-channel, I'd say.
Tony Conte:Yeah.
Tony Conte:Yeah.
Tony Conte:You can't, you know, you, that's most of the
Tony Conte:conversations now are, we're running five channels.
Tony Conte:We think one or two are potentially not
Tony Conte:working, or we're leaving money on the table.
Tony Conte:Um, and that's where, you know, we would get involved and say,
Tony Conte:okay, let's look at the numbers.
Tony Conte:Let's look at the audience.
Tony Conte:Let's look at the, the attribution, make sure
Tony Conte:everything's, you know, fir on all cylinders.
Tony Conte:Um, but normally you can't.
Tony Conte:There's no silver, no silver bullet.
Tony Conte:Now there's no silver bullet.
Matt Edmundson:No, I, I, I would agree.
Matt Edmundson:I think you, you get to a stage where you hear stories
Matt Edmundson:of a somebody on YouTube who managed to pull off a
Matt Edmundson:miracle and then they do a YouTube video about it.
Tony Conte:Yeah.
Matt Edmundson:Um, but I, I think for most people,
Matt Edmundson:I. Actually, you are right.
Matt Edmundson:That that digital marketing now is, is, is evolved and is
Matt Edmundson:evolving to such an extent that Yeah, it is impossible, I think
Matt Edmundson:for, for a solo entrepreneur who is doing e-commerce to
Matt Edmundson:keep up with what the changes are and to keep it with a,
Matt Edmundson:like if I was just running my e-commerce business,
Matt Edmundson:we have a team of people.
Matt Edmundson:Yeah, but how would I find the time to.
Matt Edmundson:Do the SEO to do the blogs, the content, the social
Matt Edmundson:media, make the videos, um, do the, run the paid ads,
Matt Edmundson:make sure my email marketing campaigns are up to date.
Matt Edmundson:Do the abandoned cart flows.
Matt Edmundson:Do you know what I mean?
Matt Edmundson:Uh, do my silly dance on TikTok.
Matt Edmundson:I appreciate that's not just TikTok.
Matt Edmundson:Now I'm being facetious.
Matt Edmundson:I've done, we've all done them to be fair, but do
Matt Edmundson:you know what I mean?
Matt Edmundson:There's so much going on.
Matt Edmundson:Yeah.
Matt Edmundson:Um, that it is, I think it's almost impossible
Matt Edmundson:now to try and to try and.
Matt Edmundson:To, to keep up with it as a, as a solo entrepreneur, you,
Matt Edmundson:you, you genuinely need help.
Matt Edmundson:I think.
Tony Conte:I think, um, the key is prioritization
Tony Conte:because you could just go at all of those, you know?
Tony Conte:Mm. All 20 elements that you just mentioned, but
Tony Conte:it's prioritizing and putting it in an order.
Tony Conte:You know, I think that's the key really.
Tony Conte:'cause there's two, you know, and, and looking at
Tony Conte:every single channel and reviewing actually what's,
Tony Conte:what's the potential return on investment from that channel?
Tony Conte:And can I put the investment from that channel
Tony Conte:into the next channel?
Tony Conte:Mm-hmm.
Tony Conte:Or, you know, and then dial everything up.
Tony Conte:That's where, that's where I've seen most e-commerce
Tony Conte:businesses that are thriving, is that they've, they've had
Tony Conte:a clear, um, analysis of all the channels, all the tactics.
Tony Conte:Then gone with quite, quite a methodical path there.
Tony Conte:Yeah.
Tony Conte:In terms of how they reinvest, et cetera.
Tony Conte:I mean, some of our early clients from sort of from
Tony Conte:2000, 2005, they're really early and they went from
Tony Conte:mail order, you know, ordering stuff in magazines.
Tony Conte:Cutting all the magazine spend and saying, right, what's
Tony Conte:the internet all about, Tony?
Tony Conte:And they said, oh, I was thinking, oh God.
Tony Conte:Okay.
Tony Conte:So basically it's an online catalog, you know?
Tony Conte:Um, and okay, well how do I, I'm number one in all the
Tony Conte:magazines 'cause I'm spending, you know, 20,000 pounds on
Tony Conte:a, on a, every single month.
Tony Conte:And mags then was quite, quite, quite significant.
Tony Conte:Yeah.
Tony Conte:Um.
Tony Conte:The ones that kind of not, I'm not saying like they
Tony Conte:listened, but the ones that actually started thinking
Tony Conte:about this is, this is, this looks like a potential.
Tony Conte:This, this is where my mail order's gonna go.
Tony Conte:Yeah.
Tony Conte:They literally, they literally launched their websites in a
Tony Conte:catalog online point of view.
Tony Conte:It wasn't actually commerce at that point necessarily.
Tony Conte:It was all about getting online.
Tony Conte:And they would get the phone calls, get, keep
Tony Conte:getting phone calls from it.
Tony Conte:Um, and they soon realized that the more they put
Tony Conte:into paid ads, it was like.
Tony Conte:The more exposure they were getting in magazines.
Tony Conte:It's the same principle.
Matt Edmundson:Yeah.
Tony Conte:Um, that, that, that worked.
Tony Conte:And, and don't forget, uh, Google ad PPC then was
Tony Conte:impression based from 2000 to 2000 and it was cheap.
Tony Conte:Yeah, exactly.
Tony Conte:And it, yeah.
Tony Conte:Not like it is now, but yeah.
Tony Conte:I mean, the whole, the, the whole kind of click,
Tony Conte:you know, pay per click.
Tony Conte:Yeah.
Tony Conte:Didn't really, I don't think it came in until about two.
Tony Conte:I think it was something like 2002, 2004, maybe,
Tony Conte:something like that.
Tony Conte:But it was all impression based before then.
Tony Conte:Um.
Tony Conte:But I think it's, it's, it's the fundamentals.
Tony Conte:I keep saying it, you know, to to, to various kind of
Tony Conte:brands that come on board, especially challenger brands.
Tony Conte:Fundamentals of advertising hasn't really changed.
Tony Conte:It's just the channel by channel.
Tony Conte:Mm-hmm.
Tony Conte:And prioritizing.
Tony Conte:And prioritizing the numbers as well.
Tony Conte:So
Matt Edmundson:let's talk about that.
Matt Edmundson:Um, how would you go about prioritizing?
Matt Edmundson:So here I am, I'm, I'm an overworked, uh oh, overwhelmed
Matt Edmundson:is probably a better word.
Matt Edmundson:Um, e-commerce.
Matt Edmundson:Founder.
Matt Edmundson:Mm-hmm.
Matt Edmundson:Um, it's all, it's, it's okay.
Matt Edmundson:But, you know, I feel like my life is non-existent
Matt Edmundson:in, in many ways.
Matt Edmundson:How do I prioritize, how do I look at what I'm
Matt Edmundson:doing and going right.
Matt Edmundson:This is, this is the best way to prioritize my marketing.
Tony Conte:I, I guess, I guess obviously, you
Tony Conte:know, we can't control the operational side of a business.
Tony Conte:We can, we can, we can forecast sales increases
Tony Conte:so they don't buckle under the, under the load.
Tony Conte:That's one element.
Tony Conte:But in terms of prioritizing, you know, there's quite a
Tony Conte:few that we've met, you know, that are seven days a week,
Tony Conte:they're in the business.
Tony Conte:Mm-hmm.
Tony Conte:They've got, you know, mm-hmm.
Tony Conte:Um, they've got maybe 10, maybe 20 staff, something like that.
Tony Conte:They're constantly in the business all the time.
Tony Conte:Um, introducing automation when it comes to, um, a lot of
Tony Conte:their activities is, is key.
Tony Conte:Yeah.
Tony Conte:Um, and helping them, helping them through.
Tony Conte:I mean the tech, there's the technical sides of a
Tony Conte:website, so you automate a lot of the activity as well.
Tony Conte:You know, email automation is one.
Tony Conte:Mm-hmm.
Tony Conte:So they don't have to do anything manually there.
Tony Conte:Um, we take away a lot of the stress in terms of, um,
Tony Conte:whether it's content, you know, to content strategy
Tony Conte:and actually delivering that, that strategy for them.
Tony Conte:So the key is to kind of work out what their strengths are.
Tony Conte:And work alongside their them or their existing Yeah.
Tony Conte:Um, teams really.
Tony Conte:Um, 'cause it is tough to kind of pull away and give
Tony Conte:everything to an agency.
Tony Conte:And we never say that to a client.
Tony Conte:We never say, I don't think anybody should say like,
Tony Conte:here's everything crack on.
Tony Conte:I think it's the kind of understanding what they should
Tony Conte:and shouldn't be doing in house.
Tony Conte:Yeah.
Tony Conte:At that given moment in time, I'm, and I'm always
Tony Conte:one for actually having the conversation to say like, we
Tony Conte:wanna get you to the X level.
Tony Conte:We want you to be in the position where you can actually.
Tony Conte:Get your own team to do X, Y, and Z. We still wanna be
Tony Conte:here, we still wanna be helping you run the, the strategy and
Tony Conte:the real technical pieces.
Tony Conte:But we see you kind of growing your content team
Tony Conte:because I think the, the, the, and I, it's a slightly
Tony Conte:off tangent, but content has always been king for many,
Tony Conte:many years before I was born.
Tony Conte:You know, it's always been about.
Tony Conte:Um, that's where advertising and engagement comes from.
Tony Conte:The, the, the creativity, the content, and it still
Tony Conte:is to this present day.
Tony Conte:Um, and brands need to bring a lot of that in-house.
Tony Conte:Um, comes an overhead.
Tony Conte:I. But the control of that, it makes our lives
Tony Conte:easier as agencies as well, that we run the strategy.
Tony Conte:We, we will share that, that tactic with them and, and come
Tony Conte:up with a content strategy.
Tony Conte:But everything comes from that content.
Tony Conte:SEO comes from content, paid ads comes from, from content
Tony Conte:as well, meta, et cetera.
Tony Conte:Um, digital pr, it's all content driven.
Tony Conte:Um, we see a lot of brands bringing that in-house,
Tony Conte:and I, I applaud that.
Tony Conte:I'd say I'd encourage it more and more so, um.
Tony Conte:But there's no silver bullet when it comes to, you know,
Tony Conte:how do we, how do we de-stress a, an e-commerce entrepreneur?
Tony Conte:Well, they, they're either surviving.
Tony Conte:Mm-hmm.
Tony Conte:Because they, they, some of them, well, a lot of them
Tony Conte:have launched post covid thinking they can mm-hmm.
Tony Conte:Sustain that level of revenue.
Matt Edmundson:Yeah.
Tony Conte:Um, and that's where we give 'em a bit of a reality
Tony Conte:check in terms of, okay, you're wasting time in that area.
Tony Conte:That's, that's not that, that, that's not focus on that area.
Tony Conte:Let's go for the, uh.
Tony Conte:Low hanging fruit, as they say.
Tony Conte:Um, and the quick wins.
Tony Conte:Yeah.
Tony Conte:And I, I dare say that, but there are quick wins.
Tony Conte:Mm-hmm.
Tony Conte:There are quick, there still are quick wins.
Tony Conte:And that's a, that comes back down to prioritization.
Matt Edmundson:Mm-hmm.
Tony Conte:Yeah.
Tony Conte:I
Matt Edmundson:find that actually that, um.
Matt Edmundson:Depending on who you talk to, depends on
Matt Edmundson:where the quick wins are.
Matt Edmundson:Yeah.
Matt Edmundson:So there's no, I can't write a book and say, these are your top
Matt Edmundson:10 quick wins, because it, every business is different, right?
Matt Edmundson:Yeah.
Matt Edmundson:Every business is unique.
Matt Edmundson:Um, but I, I could, I could quite easily write
Matt Edmundson:a book, go, these are the principles of marketing.
Matt Edmundson:Read through this and the quick wins will become obvious.
Matt Edmundson:That, that kind of thing.
Matt Edmundson:It's, um, which I, I, I, I think is, is probably a, a
Matt Edmundson:more successful route forward.
Matt Edmundson:Um.
Matt Edmundson:But I like how you, you talked about, figure out what your
Matt Edmundson:strengths are because I, I have this, um, I have a manifesto,
Matt Edmundson:Tony, because I like manifestos.
Matt Edmundson:Actually, it's just a fancy name for a bit of, a bit
Matt Edmundson:of writing that I did once.
Matt Edmundson:Um, where I, I liken most e-commerce entrepreneurs, I call
Matt Edmundson:them digital Davids, you know, the David and Goliath story.
Matt Edmundson:Mm-hmm.
Matt Edmundson:And I, I, I paint Amazon and Walmart as the Goliath
Matt Edmundson:because, you know, I, I can and make them the bad guy.
Matt Edmundson:And David won the battle with Goliath.
Matt Edmundson:'cause he played to his own strengths.
Matt Edmundson:Yeah.
Matt Edmundson:And, and, and one of the questions I get asked, you
Matt Edmundson:know, a lot, and I'm, I I, I appreciate on the podcast,
Matt Edmundson:I use this for, I get asked a lot of questions and you
Matt Edmundson:can you, but this one I do get asked a lot is like, how
Matt Edmundson:do I, how do I beat Amazon?
Matt Edmundson:Right?
Matt Edmundson:Um, and I think actually you've gotta play to your
Matt Edmundson:strengths is is the answer.
Matt Edmundson:You know, you've gotta, you've got, 'cause the one
Matt Edmundson:thing Amazon can't be is you.
Matt Edmundson:No, they can't be you and your brand.
Matt Edmundson:Hmm.
Matt Edmundson:They can't be your, your positioning.
Matt Edmundson:They can't be your brand.
Matt Edmundson:Uh, what you stand for and, and all that sort of thing.
Matt Edmundson:They can't, they, they don't have your values, they don't
Matt Edmundson:have your tone of voice.
Matt Edmundson:They don't have your ability to tell a story.
Matt Edmundson:Yeah.
Matt Edmundson:You know, they're just a big machine which sells stuff.
Matt Edmundson:Yeah.
Matt Edmundson:But you've got stuff that's got a story and so how do you,
Matt Edmundson:how do you bring that out?
Matt Edmundson:Um, and so I like what you say, you know, play to
Matt Edmundson:your strengths and, and.
Matt Edmundson:Everyone has to think about content, um,
Tony Conte:and brand, you're just hitting nail
Tony Conte:on the head as well.
Tony Conte:Is the, is I I, I've, I've seen a lot of e-commerce brands now
Tony Conte:build, building their brand more so than ever before.
Tony Conte:So building the personality, getting that personality
Tony Conte:in the forefront.
Tony Conte:A huge amount of kind of brands that, um, I'd say
Tony Conte:90% of them have come to us and actually they've come
Tony Conte:to us thinking, oh, I need.
Tony Conte:Paid ads, I need meta, et cetera.
Tony Conte:Mm-hmm.
Tony Conte:And we've like, no, you need to get your story.
Tony Conte:Yeah.
Tony Conte:Actually above, I'll call it above the fold.
Tony Conte:'cause that was a thing.
Tony Conte:Yeah.
Tony Conte:But you know, it's not in, you know, they're not
Tony Conte:selling their story and Yeah.
Tony Conte:Um, there's so much more kind of engagement, um, when it comes
Tony Conte:to, uh, consumers these days.
Tony Conte:Customers these days that they want us, they wanna know
Tony Conte:about the founder of a Yeah.
Tony Conte:X brand that Yeah.
Tony Conte:Is, yeah.
Tony Conte:That came from such and such fashion brand originally,
Tony Conte:and they stand for X, Y, and Z. Um, a lot of this
Tony Conte:information is hidden on websites sometimes, especially
Tony Conte:with the independent brands.
Tony Conte:They don't think that actually I need to bring that to the, to
Tony Conte:the, to the top, um, as a story.
Tony Conte:So, so once you've bought into it.
Tony Conte:You are kind of, you're, you're bought into their story.
Tony Conte:You bought into them, you're bought into the brand.
Tony Conte:You bought into the product, and you, you've
Tony Conte:basically bought something.
Matt Edmundson:Yeah.
Tony Conte:In the checkout.
Tony Conte:Out the checkout.
Tony Conte:Yeah.
Matt Edmundson:No, no.
Matt Edmundson:It's totally true.
Matt Edmundson:I'm, I'm with you all the way, and I think, you
Matt Edmundson:know, I, I see a lot of websites which are cookie
Matt Edmundson:cutters, you know that Yeah.
Matt Edmundson:They're a carbon copy of somebody else's in their
Matt Edmundson:market because they feel this is what I need to do.
Matt Edmundson:Yeah.
Matt Edmundson:I mean, we were joking before we recorded.
Matt Edmundson:Can you know, can you build me a bango website for.
Matt Edmundson:Five grand or whatever.
Matt Edmundson:It's like no, just no.
Matt Edmundson:Yeah.
Matt Edmundson:Um, but you kind of have this sense as what
Matt Edmundson:my website should be.
Matt Edmundson:Website, uh, website should be Sorry, kids.
Matt Edmundson:The bad ones.
Matt Edmundson:Yeah.
Matt Edmundson:Yeah.
Matt Edmundson:They're the bad ones.
Matt Edmundson:Yeah.
Matt Edmundson:Yeah.
Matt Edmundson:But at, at the same time, this, this tension of
Matt Edmundson:brand of your voice of.
Matt Edmundson:Telling your story?
Matt Edmundson:Well, I think I became more aware of it when,
Matt Edmundson:um, Toms became a thing.
Matt Edmundson:Oh yeah, yeah.
Matt Edmundson:Do you know what I mean?
Matt Edmundson:And you, and you looked at that and you thought, wow, blind me.
Matt Edmundson:They, they've, they've managed to use this brand, this story
Matt Edmundson:so well, um, that it kind of threw the world upside down a
Matt Edmundson:little bit, uh, at that point.
Matt Edmundson:And, and I know that there were other brands around at
Matt Edmundson:the time, but that was the one that stood out for me.
Matt Edmundson:I don't know what stood out for you.
Matt Edmundson:So many can't think now.
Matt Edmundson:Actually, you put me on the spot.
Matt Edmundson:Nah, this is what we do.
Matt Edmundson:This is what we Well, let's, um, uh, take you off that spot.
Matt Edmundson:Let's talk about this report that you guys have put together.
Matt Edmundson:2020 x. Tell me about that.
Tony Conte:Yeah, so last year we, we, um, reached out to,
Tony Conte:um, CMOs, e-commerce, brand managers, et cetera, and ask
Tony Conte:'em to fill out a, a, a survey around their challenges, what
Tony Conte:they see next, et cetera.
Tony Conte:And, um.
Tony Conte:What they see as, yeah, basically what they see as the
Tony Conte:next big thing and, and really what they're doing and what
Tony Conte:they're not doing, et cetera.
Tony Conte:So we collated all this, um, this information together and
Tony Conte:the, the general consensus was that everything, everything
Tony Conte:seems to be coming from a central piece of work
Tony Conte:that they're not doing.
Tony Conte:Enough of, but they're aware of, and it's, it's looking
Tony Conte:after the, the customer journey and the customer
Tony Conte:experience what on whatever platform and the website.
Tony Conte:So everyone thinks like customer experience or CX is just the
Tony Conte:website, but it's not, it's every single platform basically.
Tony Conte:Yeah.
Tony Conte:And pretty much everybody knows that they, they knew
Tony Conte:they need to increase the customer experience to
Tony Conte:increase the conversion.
Tony Conte:But they were focused so much on short term wins rather
Tony Conte:than looking at the long term strategy, et cetera.
Tony Conte:Yeah.
Tony Conte:But they know they need to do that, and I think that's
Tony Conte:the pressure that, that, that brands, um, are under, you know,
Tony Conte:within the report it kind of goes on about what sort of, what
Tony Conte:their biggest challenges are.
Tony Conte:Where it's, it's, it's.
Tony Conte:It's the fragmented of data.
Tony Conte:So they're so stuck in data.
Tony Conte:They've, they're spending more time in all knee deep in the
Tony Conte:data and actually not thinking about the customer experience,
Tony Conte:where in actual fact it's, so, it's, it's equally as important.
Tony Conte:I, I get data's important, don't get me wrong.
Tony Conte:We, we live by it with, with the campaigns that we run.
Tony Conte:But that was, that was one fundamental, uh, challenge
Tony Conte:that they need to, they know they need to resolve, but
Tony Conte:they're not, they're not, they, they're, they're.
Tony Conte:They're admitting that they're not doing it fast enough.
Tony Conte:Yeah.
Tony Conte:They're just not reacting.
Tony Conte:Um, so, you know, and game changing kind of insights
Tony Conte:that they were thinking of.
Tony Conte:You know, the likes of obviously TikTok shop, they,
Tony Conte:uh, live shopping as well.
Tony Conte:Yeah.
Tony Conte:It's something that came up as well.
Tony Conte:Yeah.
Tony Conte:I believe that as well.
Tony Conte:You know, in terms of, I, I agree with that.
Tony Conte:I think, um, certain countries out there.
Tony Conte:Then China, uh, uh, sort of smashing it from that point
Tony Conte:of view, it is coming here.
Tony Conte:Mm-hmm.
Tony Conte:And it is, you know, basically QVC on steroids online.
Tony Conte:It is, yeah.
Tony Conte:Yeah.
Tony Conte:And I think, um, it's gonna bounce quite high, um, when,
Tony Conte:when it really takes off in this, I know it's already
Tony Conte:here, but it's, it's, I don't think we've seen,
Tony Conte:you know, enough of it.
Tony Conte:And I think it's coming and that's the area.
Tony Conte:No,
Matt Edmundson:I, I'm, I'm always surprised at how
Matt Edmundson:little it's been done here, considering the success of QVC.
Tony Conte:Yeah.
Matt Edmundson:And considering the success of
Matt Edmundson:live shopping in, in, certainly in Asia, like you say.
Matt Edmundson:Yeah.
Matt Edmundson:Um, and I was always surprised that Instagram never figured
Matt Edmundson:out that if it did live streams, you could, it could
Matt Edmundson:have a buy now button on on.
Matt Edmundson:Yeah.
Matt Edmundson:Do you know what I mean?
Matt Edmundson:And, and you could integrate that somehow with social
Matt Edmundson:selling, which TikTok obviously, you know, they,
Matt Edmundson:they, they've done that.
Matt Edmundson:So there's a few, there's a lot of questions I have, like,
Matt Edmundson:why is this not taken off?
Matt Edmundson:But I, I'm with you in the sense that live shopping, I think.
Matt Edmundson:Is gonna become one of those things, which is more and
Matt Edmundson:more of a bigger deal to the point where I've been talking
Matt Edmundson:to the guys in our team, um, like, can we carve out space
Matt Edmundson:in the warehouse to create a studio, like a live TV studio?
Matt Edmundson:It doesn't have to be big.
Tony Conte:No.
Matt Edmundson:Um, we have pod, a podcast studio,
Matt Edmundson:obviously down there.
Matt Edmundson:Yeah.
Matt Edmundson:Um, and I'm in the podcast studio at my house.
Matt Edmundson:But having a podcast studio and a live TV studio, I think
Matt Edmundson:those two things are fast becoming like non-negotiables.
Matt Edmundson:Yeah.
Matt Edmundson:If that makes sense.
Matt Edmundson:Yeah.
Matt Edmundson:Um, but so I'm intrigued that you mentioned that.
Tony Conte:Well, the other aspect as well is if we're,
Tony Conte:we're, if we wanna see, um, I. A survival of retail,
Tony Conte:um, independent retailers.
Tony Conte:Let's just take them for an example.
Tony Conte:As an example.
Tony Conte:I see no reason why on their slow days, you know,
Tony Conte:whether it's Monday, Tuesday, Wednesday, whatever, that
Tony Conte:they shouldn't have a popup in their shop of a live.
Tony Conte:I. Piece.
Tony Conte:Mm-hmm.
Tony Conte:You know, out, out the back, et cetera.
Tony Conte:That tho those, that those, they can, they can create
Tony Conte:that, that commerce mm-hmm.
Tony Conte:On those days with their live feeds.
Tony Conte:'cause all we're doing with the live feeds is we're
Tony Conte:pushing ads to the live feeds.
Tony Conte:It's, isn't it, you know, it's as simple as that.
Matt Edmundson:Mm-hmm.
Tony Conte:Get a live feed, get an agency, or if
Tony Conte:you can do it yourself and promote the hell out of that.
Tony Conte:Live feed to that audience, which we know we can
Tony Conte:get you in front of.
Tony Conte:Mm-hmm.
Tony Conte:It's a no-brainer.
Tony Conte:Um, and for me, if, if it's an independent retail,
Tony Conte:it's thinking, okay, these days are really slow.
Tony Conte:We had to get that many sales on, on Mondays, well turn it
Tony Conte:into a, turn it into a live shop day and just get a, get a cube.
Tony Conte:And get filming or get a counter, whatever it is.
Tony Conte:It doesn't matter if you sell ice cream or not ice cream, but
Tony Conte:you know, it doesn't matter.
Tony Conte:It doesn't matter if, no, I'm gonna sell ice
Matt Edmundson:cream and start doing live show and
Matt Edmundson:I'm gonna use it as an excuse for my wife that I have
Matt Edmundson:to go and eat ice cream.
Matt Edmundson:Exactly.
Matt Edmundson:Exactly.
Tony Conte:Exactly.
Tony Conte:But I think that's, that's an opportunity I think, you
Tony Conte:know, for independent, and it doesn't, it wouldn't cost them
Tony Conte:that much to kind of get set up.
Tony Conte:No.
Tony Conte:Especially like you say,
Matt Edmundson:if they've already got a store.
Matt Edmundson:Yeah.
Matt Edmundson:Whereas I don't have a store for my e-comm sites, it's
Matt Edmundson:just a boring warehouse.
Matt Edmundson:I have to build a studio.
Matt Edmundson:Yeah.
Matt Edmundson:You're right.
Matt Edmundson:I, I think for the, for a lot of people, they don't
Matt Edmundson:actually have to do that.
Matt Edmundson:Yeah.
Matt Edmundson:And, um, you can, you can use what you've got.
Matt Edmundson:You don't, I mean, you know, you don't need the fancy.
Matt Edmundson:I was watching a guy who set up a, a a, a YouTube studio.
Matt Edmundson:Spent like quarter of a million quid on the studio.
Matt Edmundson:You're just like, holy moly.
Matt Edmundson:Um, you know, I think you can do everything on
Matt Edmundson:your iPhone these days.
Tony Conte:I think that's, that's, that's a really good
Tony Conte:point 'cause I think some of the best raw kind of footage that
Tony Conte:you see these days that goes via Royal is off an iPhone anyway.
Tony Conte:So
Matt Edmundson:it's interesting, isn't it, how this
Matt Edmundson:sort of, and what works well on TikTok shop and what works user
Matt Edmundson:generated content works well.
Matt Edmundson:It's not polished, it's not like the po I mean these are
Matt Edmundson:just, and you get that best off your iPhone rather than
Matt Edmundson:the 7,000 pound Sony camera.
Tony Conte:Yeah.
Tony Conte:It's almost as if it's authentic 'cause you've kind of, it's
Tony Conte:a bit raw and it's a bit.
Tony Conte:Yeah.
Tony Conte:It, it definitely is that, and we've, we've, we've had
Tony Conte:a lot of success, um, from, uh, user-generated content.
Tony Conte:Um, def it's, yeah.
Tony Conte:It, it really works.
Tony Conte:It, the, the RO the better.
Matt Edmundson:Mm-hmm.
Tony Conte:Because it just looks like it's
Tony Conte:not, it's, it's natural.
Tony Conte:Yeah.
Tony Conte:Um, it's authentic as such.
Matt Edmundson:Yeah.
Matt Edmundson:I mean, how long that trend lasts for, I have no idea.
Matt Edmundson:But while it's there, use it because you've, chances
Matt Edmundson:are you've got the capacity to do it in your pocket.
Matt Edmundson:Right, exactly.
Matt Edmundson:So get get on it.
Matt Edmundson:Exactly.
Matt Edmundson:What, um, what other things did your report bring out
Matt Edmundson:that were interesting?
Tony Conte:Um, well, I, I'll be honest with you.
Tony Conte:Everything was it, you know, everything seems to, it kept
Tony Conte:pointing, um, to CX really?
Tony Conte:Mm. Um, I think, you know that, that it pretty much.
Tony Conte:Cemented, you know, that, um, everyone was aware that
Tony Conte:lack of content was key.
Tony Conte:Yeah.
Tony Conte:They need to bring content in-house to, to, um, yeah.
Tony Conte:To, to, to get the kind of.
Tony Conte:To get the control, I'd say.
Tony Conte:Yeah.
Tony Conte:That was, and the brand
Matt Edmundson:voice, isn't it?
Matt Edmundson:The story, the, the tone and all that sort of things,
Matt Edmundson:which you can't outsource.
Tony Conte:Yeah, that was, that was really key.
Tony Conte:The, the need, like I said, knee deep in, um, data
Tony Conte:was, uh, stifling them.
Matt Edmundson:Mm-hmm.
Tony Conte:Um, that was another area as well.
Tony Conte:Um, just trying to think off the top of my head actually.
Tony Conte:The, the, um, but the, the.
Tony Conte:I think the customer experience is everything
Tony Conte:and they just, they, I think they were Oh, massively.
Tony Conte:Yeah.
Tony Conte:All sounded like gutted basically.
Tony Conte:That they weren't on top of it.
Tony Conte:Yeah.
Tony Conte:On top of the customer thinking out, you know, I think the
Tony Conte:big thing is it was that the fact that they know they
Tony Conte:need to be thinking further ahead for, um, longevity.
Tony Conte:Yeah.
Tony Conte:And sustainability.
Tony Conte:That's, that I think is key, especially for a
Tony Conte:brand, you know, that.
Tony Conte:Is trying to compete in a, in a saturated market as well.
Tony Conte:The only way of doing that is thinking ahead and, um,
Tony Conte:you know, showing that, you know, the, the showing that
Tony Conte:the brand and the, the, the personality is there.
Tony Conte:I think, I think off the top of my head is that, you know, I
Tony Conte:think it was, but it was about 60%, um, said that, you know,
Tony Conte:customer experience really matters to them the most.
Tony Conte:But only about, I think there's only 30% are actually
Tony Conte:doing anything about it.
Tony Conte:Which is fascinating,
Matt Edmundson:isn't it?
Matt Edmundson:Yeah.
Matt Edmundson:But that's, I think that's a common trait amongst,
Matt Edmundson:um, business people, certainly in e-commerce.
Matt Edmundson:Yeah.
Matt Edmundson:I know what I'm supposed to do.
Matt Edmundson:Are you doing it?
Matt Edmundson:No.
Matt Edmundson:Well, I'm busy, isn't I?
Matt Edmundson:Yeah.
Matt Edmundson:Is, is a, is a reality of it all, you know, and it
Tony Conte:comes from the top as well.
Tony Conte:If you've got a financial, um, whoever's in charge of
Tony Conte:finance, you know, if you've got the FD breathing down
Tony Conte:your neck and like, gotta get more, et cetera, et cetera,
Tony Conte:and, and they're trying to fix cash flow with paid media.
Tony Conte:Yeah.
Tony Conte:That's generally the, but paid media is going up.
Tony Conte:So had you have thought about the customer experience and the,
Tony Conte:maybe the content, et cetera.
Tony Conte:Back back a year ago.
Tony Conte:Yeah, yeah, yeah.
Tony Conte:It'll be reaping its rewards now.
Tony Conte:Yeah.
Tony Conte:And that's something that people, that's so true.
Tony Conte:You can't, you, you don't, you don't get
Tony Conte:that taken away from you.
Tony Conte:'cause once you've got built the brand and built
Tony Conte:your authority mm-hmm.
Tony Conte:Then you've got that stability, then it's about protecting
Tony Conte:and growing there again.
Tony Conte:Yeah.
Tony Conte:Yeah.
Tony Conte:Whereas with paid, just throwing money at paid isn't always
Tony Conte:just, uh, you know, it's not the silver bullet as such.
Tony Conte:It's a bit, it is a bit risky, but don't get me wrong,
Tony Conte:it, it absolutely works.
Tony Conte:But.
Tony Conte:You know, you can't control what Google wants to
Tony Conte:charge you for a click.
Matt Edmundson:No.
Matt Edmundson:And it, and you're right, it's only gonna go up.
Matt Edmundson:Yeah.
Matt Edmundson:It's never, I, I've never ever gone into it and gone, oh,
Matt Edmundson:we're paying less to Google.
Matt Edmundson:How nice that, that just doesn't, that just
Matt Edmundson:doesn't compute really.
Matt Edmundson:Um, but I, I, I totally get what you're saying around
Matt Edmundson:the customer experience and, and just making, 'cause
Matt Edmundson:again, this is where I think you differentiate yourself.
Matt Edmundson:This is where, um, you.
Matt Edmundson:Become different to Amazon, you become different to your
Matt Edmundson:competitors, is actually that customer experience.
Tony Conte:Yeah.
Matt Edmundson:Um, I mean, I've told the story before on the, on
Matt Edmundson:the podcast, and if you're new you won't have heard the story.
Matt Edmundson:If you're old, you, well, here's a friendly reminder, but um,
Matt Edmundson:I remember when we actually, we had a beauty company,
Matt Edmundson:which I sold a few years ago, but we had a beauty company.
Matt Edmundson:And we were sitting down and we were looking at, we wanted
Matt Edmundson:to understand why customers bought, you know, the average
Matt Edmundson:order value was like 75 quid on beauty products.
Matt Edmundson:Now, of course, I'm a fell, I'm the wrong target
Matt Edmundson:market in, in many ways.
Matt Edmundson:I, you know, I spend four pound 50 and think I've
Matt Edmundson:been overcharged on beauty, as you can tell, right?
Matt Edmundson:So, so the fact that people were spending like 75, 80 quid
Matt Edmundson:just astounded me in many ways.
Matt Edmundson:And, and that was the average and.
Matt Edmundson:We quickly realized that the customer was buying
Matt Edmundson:themselves a gift, a treat.
Matt Edmundson:It wasn't just skincare.
Matt Edmundson:It was like, this is self-care.
Matt Edmundson:This is, um, a, a gift for myself.
Matt Edmundson:This was.
Matt Edmundson:And so we thought, well, wouldn't it be interesting?
Matt Edmundson:And we bought products from all of our competitors to see how
Matt Edmundson:they would, how they turned up.
Matt Edmundson:Every single one of them came in a Jiffy bag, you know, um,
Matt Edmundson:the paled envelopes for those of you who dunno what a jiffy
Matt Edmundson:bag is outside of the uk.
Matt Edmundson:Um, so the, the boxes around the skincare were all bashed up.
Matt Edmundson:Not that I cared because I'm taking the skincare outta the
Matt Edmundson:box and putting it in the bin.
Matt Edmundson:So we, we put the skincare in a box.
Matt Edmundson:I. To protect it.
Matt Edmundson:Um, we stopped wrapping it up in the, you know, the,
Matt Edmundson:the air bubble things.
Matt Edmundson:Um, and we started to use popcorn.
Matt Edmundson:'cause a brand, we wanted to be fun.
Matt Edmundson:We wanted to be seen as eco.
Matt Edmundson:Wow.
Matt Edmundson:So we, we thought, well, let's do popcorn.
Matt Edmundson:Took us a while to figure that out.
Matt Edmundson:We wrapped the whole thing in tissue paper.
Matt Edmundson:So it felt like when you opened the box, you,
Matt Edmundson:you were opening a gift.
Matt Edmundson:Do you know what I mean?
Matt Edmundson:We added a bit of extra stuff to the box.
Matt Edmundson:The whole exercise meant that every parcel cost me
Matt Edmundson:another two pence to send out.
Matt Edmundson:But that's when return purchase rates started
Matt Edmundson:going through the roof.
Matt Edmundson:Right.
Matt Edmundson:And it was just, it was just crazy.
Matt Edmundson:And so we were like, well, this is interesting, you
Matt Edmundson:know, because it worked well, because we thought about
Matt Edmundson:the customer experience.
Matt Edmundson:Yeah.
Matt Edmundson:As in what, what, what do they experience?
Matt Edmundson:What, what do we need to help them feel more of?
Matt Edmundson:Yeah.
Matt Edmundson:For them to really, you know, connect with our brand.
Matt Edmundson:And I,
Tony Conte:and I think whether, you know, if you're,
Tony Conte:if you're an e-commerce brand and you're running.
Tony Conte:All, all the main channels.
Tony Conte:Um, I think if you ask each channel, each channel, um,
Tony Conte:head and say what, you know, understand the, if you, if
Tony Conte:you're understanding the customer experience and
Tony Conte:you, and you are in SEO, you have to, you have to.
Tony Conte:And I think if everybody understands what that
Tony Conte:customer experience is for that brand, then
Tony Conte:everybody can work in Unity.
Tony Conte:And it all has this compounding, um, effect.
Tony Conte:I think because, you know.
Tony Conte:Anybody working in SEO, anybody working in paid
Tony Conte:anyone working in social, they should understand right now
Tony Conte:that there's an increasing competition all the time.
Tony Conte:Mm-hmm.
Tony Conte:So understand the customer, 'cause that's gonna
Tony Conte:win you more hearts.
Tony Conte:Yeah.
Tony Conte:You know, um, it's, you know, the rising cost of, of acquiring
Tony Conte:sales is getting more, but you know, and again, you can
Tony Conte:counter that to a degree by.
Tony Conte:Customer experience conversion on our website.
Tony Conte:Mm-hmm.
Tony Conte:You know, if we can increase that, that's gonna help.
Tony Conte:Um, making sure that the customer realizes the
Tony Conte:customer all the time, it's the customer in the middle.
Tony Conte:But, uh, creating the differentiation as well
Tony Conte:with your brand as well.
Tony Conte:Is it different?
Tony Conte:Is, if it's not, then what's the point?
Tony Conte:Um, and yes, you can drive new customers.
Tony Conte:You have to be, be really good at customer experience.
Tony Conte:'cause you wanna drive those repeat sales back again.
Tony Conte:Yeah.
Tony Conte:Yeah.
Tony Conte:And it's all about sustainable, efficient,
Tony Conte:you know, efficient growth.
Tony Conte:And that comes back down to knowing the numbers,
Tony Conte:really efficient growth.
Tony Conte:Um, and the FD at the top then is gonna be happy.
Tony Conte:Because, and they can, you can for, you can start to
Tony Conte:forecast at least when can't repeat customers, can't you?
Tony Conte:Yeah.
Tony Conte:You can get a pattern, whereas with no.
Tony Conte:If you can't forecast, the fts gonna be like
Tony Conte:pulling their hair out.
Matt Edmundson:Well, once you've got the pattern, then
Matt Edmundson:you've, you've created value for the business, right?
Matt Edmundson:Yeah.
Matt Edmundson:So I, I go out, I dunno if you do this to me, but I go and
Matt Edmundson:acquire other econ businesses.
Matt Edmundson:Right?
Matt Edmundson:Right.
Matt Edmundson:So I, I do, I I do that and I'm, I'm, I'm a equity partner
Matt Edmundson:in a number of businesses now.
Matt Edmundson:Um.
Matt Edmundson:We're always looking at, once I get involved, I'm
Matt Edmundson:like, how can I increase the value of this business?
Matt Edmundson:Mm-hmm.
Matt Edmundson:Right?
Matt Edmundson:So if it was sold to whoever from private equity down
Matt Edmundson:to, to whoever, um, how do we maximize the value?
Matt Edmundson:And that predictable cash flow is quite extraordinary.
Matt Edmundson:So if I took a business.
Matt Edmundson:As just a standalone business that sold one-offs, widgets.
Matt Edmundson:It would be worth probably at the moment, if I'm
Matt Edmundson:being totally honest, maybe two or three times ebit.
Matt Edmundson:Right?
Matt Edmundson:Yeah.
Matt Edmundson:It's just that's how you would value a business.
Matt Edmundson:At the moment, it's not what it was at all.
Matt Edmundson:Um, but if I took those same customers, made the
Matt Edmundson:same profit, but did it on a subscription business.
Matt Edmundson:Yeah.
Matt Edmundson:As opposed to a one-time purchase business.
Matt Edmundson:Well, I'm starting to get multiples instead of two and
Matt Edmundson:three, I'm starting to get multiples of four and five.
Matt Edmundson:Do you see what I mean?
Matt Edmundson:Yeah.
Matt Edmundson:So I've doubled the business with, or doubled the value
Matt Edmundson:of the business without really massively increasing
Matt Edmundson:anything else because of that predictable income.
Matt Edmundson:Yeah.
Matt Edmundson:Um, and so no, you, you're totally right.
Matt Edmundson:That whole value side is interesting.
Tony Conte:I mean, I think, I think I read somewhere
Tony Conte:that acquiring a new customer pretty much costs cost you
Tony Conte:anything for five to, I think five to 25 times more than
Tony Conte:retaining the current one.
Tony Conte:Yeah.
Tony Conte:So why would you not invest some time in terms of understanding
Tony Conte:your existing customers and trying to flog to them?
Tony Conte:Again, I. And again.
Tony Conte:No, you totally would.
Tony Conte:And again and again, I think it's com I think
Tony Conte:it's common sense.
Tony Conte:You go into a, you used to go into a shop,
Tony Conte:you'd get a customer, you get a good customer
Tony Conte:experience, you'd go back.
Tony Conte:It's just, 'cause it's online doesn't mean it's any different.
Matt Edmundson:Yeah.
Matt Edmundson:Yep.
Matt Edmundson:No, that's very true.
Matt Edmundson:Very true.
Matt Edmundson:Tony, listen, but I'm aware of time.
Matt Edmundson:Oh.
Matt Edmundson:And it is fast approaching, uh, at the end of our
Matt Edmundson:recording session.
Matt Edmundson:So, uh, let me ask you if people wanna reach out, if
Matt Edmundson:they want to connect with you.
Matt Edmundson:I think actually people need to go download
Matt Edmundson:this report, um, yeah.
Matt Edmundson:Which is on your website, so maybe tell
Matt Edmundson:people how to do that.
Tony Conte:Yeah, sure.
Tony Conte:If, um, well, to, to reach out probably the easiest way is,
Tony Conte:um, LinkedIn, uh, just punch in Tony Conte brave agency.
Tony Conte:Uh, be able to see my, my profile.
Tony Conte:I've got a little lion next to my name because
Tony Conte:the lions are brave.
Tony Conte:I.
Matt Edmundson:Is that what it is?
Matt Edmundson:Little Leo.
Matt Edmundson:The lions nice
Tony Conte:and broken.
Tony Conte:That's, that's it.
Tony Conte:Yeah.
Tony Conte:Um, our, our report is, um, you can download the report
Tony Conte:at um, uh, I won't even bother with the www dot 'cause
Tony Conte:that's old school, isn't it?
Tony Conte:It is, but you've done it now.
Matt Edmundson:So
Tony Conte:yeah.
Matt Edmundson:Brave agency.
Matt Edmundson:There you go.
Matt Edmundson:It is funny actually, when it comes to using these non-US
Matt Edmundson:domains like agency do digital, I feel the need to put www
Matt Edmundson:just to make it really clear to the person in front of me that
Matt Edmundson:I'm talking about a website.
Matt Edmundson:Yeah, that's So if it was brave agency.com, you would
Matt Edmundson:never do it, but because it's brave.agency like Yeah.
Matt Edmundson:I, I just feel I need to say www.
Matt Edmundson:Just to clarify, it's a website, just in case you don't know
Matt Edmundson:that agency is a website.
Matt Edmundson:I wonder if some people actually know what WWW stands for.
Matt Edmundson:Do you know what I mean?
Matt Edmundson:We should probably do a, certainly with, uh, I
Matt Edmundson:should ask my kids, kids.
Matt Edmundson:What does www stand for?
Matt Edmundson:I've, I've half of them don't know.
Matt Edmundson:When was the last time you typed in www dot a search browser?
Matt Edmundson:No.
Matt Edmundson:I just don't even remember.
Tony Conte:When was the last time you used
Tony Conte:the internet there?
Tony Conte:A website.
Tony Conte:Now there's a scary thought.
Matt Edmundson:Yeah.
Matt Edmundson:Yeah.
Matt Edmundson:Well, that's a whole, whole nother topic of
Matt Edmundson:a whole nother podcast.
Matt Edmundson:It's right there.
Matt Edmundson:It but Tony, man, listen, it's been great to connect
Matt Edmundson:and great to meet with you.
Matt Edmundson:Thanks for coming on and, uh, enjoyed the conversation
Matt Edmundson:and going down, uh, memory lane a little bit.
Matt Edmundson:Cheers.
Matt Edmundson:Uh, with a, another e-commerce dinosaur.
Matt Edmundson:No, pioneer.
Matt Edmundson:But there we go.
Matt Edmundson:What a fantastic conversation.
Matt Edmundson:Huge round of applause.
Matt Edmundson:Let's do this.
Matt Edmundson:Yes.
Matt Edmundson:Massive round of applause to Tony for.
Matt Edmundson:That's enough applause.
Matt Edmundson:Uh, massive round of applause to Tony for joining me today.
Matt Edmundson:Now, be sure to follow the e-commerce podcast wherever
Matt Edmundson:you get your podcast from because we've got some more
Matt Edmundson:great conversations lined up.
Matt Edmundson:And I don't want you to miss any of them.
Matt Edmundson:And in case no one has told you yet today, let me be the first.
Matt Edmundson:You are awesome.
Matt Edmundson:Yes, you are created.
Matt Edmundson:Awesome.
Matt Edmundson:It's just a burden you've got to bear.
Matt Edmundson:Tony's gotta bear it.
Matt Edmundson:I've gotta bear it.
Matt Edmundson:You've got a bear it as well.
Matt Edmundson:Oh yes.
Matt Edmundson:Now the E-Commerce podcast is produced by Pod Junction.
Matt Edmundson:You can find our entire archive of episodes on
Matt Edmundson:your favorite podcast app.
Matt Edmundson:The theme song was written by Josh Edmondson, and as I
Matt Edmundson:mentioned, if you'd like to read the transcript, the show
Matt Edmundson:notes, all that good stuff, they're available on our
Matt Edmundson:website@ecommercepodcast.net.
Matt Edmundson:No www required.
Matt Edmundson:Uh, and instantly you can also sign up to the newsletter.
Matt Edmundson:But that's it from me.
Matt Edmundson:That's it from Tony.
Matt Edmundson:Thank you so much for joining us.
Matt Edmundson:Have a fantastic week wherever you are in the world.
Matt Edmundson:I will see you next time.
Matt Edmundson:Bye.