TFS#202 - Angus Muffet @‌Shopback: $3B+ in sales, $200M in Cashback for 2.5M Australian Users

Angus Muffet is the General Manager at ShopBack Australia & New Zealand, a leading e-commerce platform specializing in cashback and rewards. Under his leadership, ShopBack has grown significantly, offering users the ability to earn cashback on purchases from a wide range of retailers. Muffet has focused on making ShopBack a daily habit for users, likening its use to popular social media apps. Prior to joining ShopBack, he held a position as the National Sales Director at Groupon, furthering his experience in the e-commerce and marketing sectors​ Connect with Angus Muffet! https://au.linkedin.com/in/gusmuffet CHAPTERS: 0:00 - Introduction 0:51 - Meet Angus Muffet, Managing Director of ShopBack AU & NZ 3:24 - ShopBack on having 2.5 million users in Australia 5:45 - How ShopBack conducts promotional campaigns with merchants/brands 8:00 - How ShopBack operates from merchant to consumer 9:36 - How ShopBack earns commission from promotional campaigns 13:12 - Can small merchants grow with ShopBack? 15:44 - How big brands pay placement fees/commissions for push notification email blasts 16:50 - How 100% cashback campaigns work, such as Pizza Hut’s 100% cashback 18:41 - Are there limits on 100% cashback campaigns? 19:59 - ShopBack on using loss leader promotional campaigns 22:10 - Angus on customer loyalty towards ShopBack vs. other cashback apps 24:34 - Market share comparison: ShopBack, Cashrewards, TopCashback 27:08 - ShopBack on merchant loyalty and affiliates 31:13 - Why does the affiliate space require a budget to partner with cashback companies? 33:03 - How merchants pay commissions to ShopBack for sales made through the app 36:06 - Does ShopBack have a bidding system within the app? 37:25 - Negotiating commission rates with new and existing merchants 40:20 - Onboarding new merchants on the ShopBack platform 41:52 - Is ShopBack similar to eBay? 43:05 - ShopBack on ranking merchants within the app 45:17 - Can small brands grow from $0 to $1 million on ShopBack? 47:22 - How integrating with agencies helps merchants market their brands 52:04 - Working with 4,500 merchants, with and without agencies 53:06 - How ShopBack prevents duplicate account registrations 56:43 - Rewarding users for payments made via QR codes 57:26 - How cashback works for in-store payments 1:00:06 - Difference between paying in-store with a credit card and ShopBack credit 1:01:43 - Differences in money flow for online vs. in-store merchants using ShopBack 1:03:33 - Why ShopBack is not planning to integrate with Uber Eats or delivery services 1:07:06 - Utilizing the flywheel effect to scale business 1:09:22 - ShopBack’s marketplace strategy 1:11:51 - Angus on ShopBack’s marketing approach 1:17:19 - Lessons learned after Facebook Live crashed during ShopBack’s 2nd birthday 1:22:39 - Maintaining a high employee retention rate 1:25:47 - Angus on hiring during the early stages of ShopBack 1:28:06 - Testing ethical behavior and attitude during interviews 1:31:23 - The "cup in the kitchen" interview story: those who leave the cup don’t get hired 1:32:41 - Angus on interviewing for senior and international positions 1:34:12 - ShopBack's team of 600 and Angus’s role in hiring 1:38:50 - High-ROI programs for employee engagement 1:41:59 - Is ShopBack Australia independent from ShopBack Singapore? 1:43:42 - How Angus launched ShopBack in Australia 1:45:14 - Angus as an entrepreneur: does he aspire to start his own company? 1:49:14 - Differences between the Australian and Singaporean markets 1:51:10 - Comparing purchasing behavior: ShopBack Australia vs. ShopBack Singapore 1:52:45 - How ShopBack achieved 70% app adoption 1:56:00 - Running effective marketing campaigns 1:59:52 - Angus on ShopBack’s customer lifetime value 2:01:56 - How merchants validate purchases from the ShopBack app 2:03:47 - The team behind ShopBack's OzBargain initiatives 2:05:11 - Connect with Angus Muffet 2:05:43 - Outro