Successful stories & Online business model


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Offline Open Consultant June 2011: Successful stories & Online business model (Notes taking)

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  • Successful stories & Online business model

    1. 1. Offline Open Consultant June 2011: Online Business (Notes taking)<br />This note is not officially from Open Consultant or any Organization and only for sharing purpose. <br />Recommended books are from speaker and me <br />
    2. 2. OPEN CONSULTANT<br />Online Business Model - Speaker: NguyễnThanhLong – Marketing Director of<br />Niche Market- Small is beautiful - Speaker: NguyễnNgọcHiếu- Digital Media Director of Ringier Vietnam – project<br />Online Retail Business Model – Speaker: TrầnNgọcTháiSơn – CEO and Founder of<br />Success and failure experience – Speaker: NhanThếLuân – CEO and Founder of<br />Details<br />
    3. 3. Content<br /> - Online Business Model <br /> – Niche strategy – Small is beautiful <br /> – Online retail business model<br /> – Success and Failure experience<br />Q&A<br />
    4. 4. - Online Business Model <br />
    5. 5. - Online Business Model <br />Money vs Value: Is your business about money or creating value for your customer?<br />Freemium model: it’s important to convince users to pay for your product<br />Online vs Offline: differentation<br />
    6. 6. Recommended books <br />Freemium Model<br /><br />2. Selling “more” with “less” <br /><br />3. Business Model Generation (from speaker)<br /><br />
    7. 7. – Niche strategy – Small is beautiful <br />Full slide from Mr. Hieu:<br />
    8. 8. Figures and Analysis<br />Success: #1 wedding website in Vietnam with 11k users, 1.162 vendors<br />Target users: woman - age 25 to 35 – ABC Class<br />Analyse before and after married: Big changes <br />Before married most interested activities: wedding plan, beauty, cooking, home<br />After married most interested activites: home, cooking, childcare<br />
    9. 9. Model – Connecting Vendors to users<br />Hotel/Resort<br />Restaurant<br />Photo studio<br />Wedding invitation<br />…<br />Couples want to get married<br />
    10. 10. Advantages<br />Low cost per potential client (every registed users are planning for wedding)<br />Not much competitors<br />Easy to sell and recruit users<br />Biggest wedding community<br />>>> Publish Wedding Magazine in April 2011<br />
    11. 11. New products<br />Marry home (after getting married)<br /><br /> Marry baby (after having a baby)<br /><br />Sharing cooking recipes<br /><br />
    12. 12. Start-up TIPS<br />“Are you crazy?” ideas<br />Survey! Do survey to make sure about your market is potential<br />Define your USPs (Unique Selling Proposition) : <br />Niche! = small market<br />Do not go mass with the same brand<br />Recruit the right people to share the same passion<br />
    13. 13. Recommended book<br />Helpful analysis and insights for who wants to do online marketing campaign and build a successful online product<br /><br />
    14. 14. – Online retail business model<br />
    15. 15. Start-up<br />PASSION<br />EXPERIENCE<br />MARKET<br />
    16. 16. Business Model<br />Key Partners<br />Suppliers<br />Logistic Partner<br />Key Activities<br />Customer care<br />Marketing<br />Logistic & Inventory <br />Platform Deve<br />Value Propositions<br />UX (User experience?)<br />Gift<br />Customer relationship<br />Personalized automated<br />Customer Segments<br />Channels<br /><br />WOF<br />E-Marketing<br />Key resources<br />Cost structure<br />HR – Admin | Marketing | Logistics & Invetory | Platform Dev | Customer care<br />Revenue Stream<br />
    17. 17. Customer care<br />Approx 1% operating budget<br />Customers can return books if they’re not sastisfied with money back<br />Advocate people to comment: use TikiXu (Tiki coin) >>> works effective<br />Offer book cover service, fast delivering, etc<br />
    18. 18. – Success and Failure experience<br />
    19. 19. – Success and Failure experience<br />Design: Do easy things first and later difficult ones, to be simple and no instruction needed<br />Debut time: Choose the right time to run your website, get many users as possible<br />Bad comments, it’s still…ok cuz it helps you know who and where you are<br />Understand every details of your product<br />Report: figures help you understand abt your website<br />People is the key of success: hire the best people to work for you<br />
    20. 20. Recommended book<br />Future of Management (Gary Hamel) (IBM, Google…business model) which you can order at<br />
    21. 21. Q&A<br />
    22. 22. Q&A<br />1. Q: Start-up most difficulty?<br />A: (Mr. Hieu) Get the right people to work for you<br />2. Q: Online payment<br />A: (Mr. Son) currently popular in Vietnam: COD<br />3. Q:Without loyalty how can the became successful?<br />A: (Mr. Hieu) aim at right target: business class. Doing appropriate marketing: sponsor, give free services from vendors to office building<br />4. Q:Priority in start-up: traffic, profit or value to customers?<br />A: (Mr. Luan) depends on personal objectives. It could be sales target, or traffic or profit.<br />(Mr. Son) If you don’t have much money or any investor to cover operating budget you need cash flow to sustain it.<br />
    23. 23. Q&A<br />5. Q: Talk about your zero marketing?<br />A: (Mr. Luan) the time when Yahoo 360 Blog is popular we developed a tool for users to add music stream into blog (from writer: free tools for user to widespread your products). SEO and Email Marketing are important too.<br />6. Q: What’s the difficulty of freemium model in Vietnam and how to do it in Vietnam?<br />A: (Mr. Long) From my personal experience you should convince users to pay from the beginning of your product, not waiting until it’s been using a long time and start asking users to pay. <br />7. Q: Email marketing: quality and how to develop the list?<br />A: (Mr. Son) <br /><ul><li>First: send to loyal customers
    24. 24. Co-promotion, make clear benefit and objectives with your partners
    25. 25. Click thru rate in email marketing: 10-15%. Conversion: 2-3%</li></ul>8. Q: what’s your company main profit?<br />A: (Mr. Luan) Display ads, Bold users (VIP accounts), Marketing Campaign with brands<br />(Mr. Long) you must think out of the box, now new devices like smart phones can change the way of getting money from customers.<br />
    26. 26. About me<br />Phan LêAnh Minh (Minh Phan)<br />Business fields: Apparel. Fashion Design. Online Business.<br />Experience:<br />2 years Product Designer for<br />6 months sales manager for (restaurant)<br />Currently:<br />Doing start-up at (fashion and event planning)<br />I’m really happy to be your friend. Please add me on:<br /><br /><br /><br />Skype: minhphan07<br />