Successful stories & Online business model
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Successful stories & Online business model

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

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

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  • Details of the offline: http://www.facebook.com/notes/open-consultant/offline-c%C3%A2u-chuy%E1%BB%87n-th%C3%A0nh-c%C3%B4ng-m%C3%B4-h%C3%ACnh-kinh-doanh-tr%C3%AAn-m%E1%BA%A1ng/10150196935938235http://www.facebook.com/openconsultanthttp://www.baomoi.comhttp://www.mary.vnhttp://www.tiki.vnhttp://www.nhaccuatui.com
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  • 1. Offline Open Consultant June 2011: Online Business (Notes taking)
    This note is not officially from Open Consultant or any Organization and only for sharing purpose.
    Recommended books are from speaker and me
  • 2. OPEN CONSULTANT
    Online Business Model - Speaker: NguyễnThanhLong – Marketing Director of www.baomoi.com
    Niche Market- Small is beautiful - Speaker: NguyễnNgọcHiếu- Digital Media Director of Ringier Vietnam – www.marry.vn project
    Online Retail Business Model – Speaker: TrầnNgọcTháiSơn – CEO and Founder of www.tiki.vn
    Success and failure experience – Speaker: NhanThếLuân – CEO and Founder of www.nhaccuatui.com
    Details
  • 3. Content
    Baomoi.com - Online Business Model
    Marry.vn – Niche strategy – Small is beautiful
    Tiki.vn – Online retail business model
    Nhaccuatui.com – Success and Failure experience
    Q&A
  • 4. Baomoi.com - Online Business Model
  • 5. Baomoi.com - Online Business Model
    Money vs Value: Is your business about money or creating value for your customer?
    Freemium model: it’s important to convince users to pay for your product
    Online vs Offline: differentation
  • 6. Recommended books
    Freemium Model
    http://tiki.vn/free-the-future-of-a-radical-price.html
    2. Selling “more” with “less”
    http://tiki.vn/long-tail-the-revised-and-updated-edition-why-the-future-of-business-is-selling-less-of-more.html
    3. Business Model Generation (from speaker)
    http://tiki.vn/business-model-generation-a-handbook-for-visionaries-game-changers-and-challengers.html
  • 7. Marry.vn – Niche strategy – Small is beautiful
    Full slide from Mr. Hieu: http://blog.ngochieu.com/chia-se/niche-market-small-is-beautiful/
  • 8. Figures and Analysis
    Success: #1 wedding website in Vietnam with 11k users, 1.162 vendors
    Target users: woman - age 25 to 35 – ABC Class
    Analyse before and after married: Big changes
    Before married most interested activities: wedding plan, beauty, cooking, home
    After married most interested activites: home, cooking, childcare
  • 9. Marry.vn Model – Connecting Vendors to users
    Hotel/Resort
    Restaurant
    Photo studio
    Wedding invitation

    Couples want to get married
  • 10. Advantages
    Low cost per potential client (every registed users are planning for wedding)
    Not much competitors
    Easy to sell and recruit users
    Biggest wedding community
    >>> Publish Wedding Magazine in April 2011
  • 11. New products
    Marry home (after getting married)
    http://home.marry.vn
    Marry baby (after having a baby)
    http://baby.marry.vn
    Sharing cooking recipes
    http://www.bepgiadinh.com
  • 12. Start-up TIPS
    “Are you crazy?” ideas
    Survey! Do survey to make sure about your market is potential
    Define your USPs (Unique Selling Proposition) :
    Niche! = small market
    Do not go mass with the same brand
    Recruit the right people to share the same passion
  • 13. Recommended book
    Helpful analysis and insights for who wants to do online marketing campaign and build a successful online product
    http://tiki.vn/groundswell-winning-in-a-world-transformed-by-social-technologies.html
  • 14. Tiki.vn – Online retail business model
  • 15. Start-up
    PASSION
    EXPERIENCE
    MARKET
  • 16. Business Model
    Key Partners
    Suppliers
    Logistic Partner
    Key Activities
    Customer care
    Marketing
    Logistic & Inventory
    Platform Deve
    Value Propositions
    UX (User experience?)
    Gift
    Customer relationship
    Personalized automated
    Customer Segments
    Channels
    Tiki.vn
    WOF
    E-Marketing
    Key resources
    Cost structure
    HR – Admin | Marketing | Logistics & Invetory | Platform Dev | Customer care
    Revenue Stream
  • 17. Customer care
    Approx 1% operating budget
    Customers can return books if they’re not sastisfied with money back
    Advocate people to comment: use TikiXu (Tiki coin) >>> works effective
    Offer book cover service, fast delivering, etc
  • 18. Nhaccuatui.com – Success and Failure experience
  • 19. Nhaccuatui.com – Success and Failure experience
    Design: Do easy things first and later difficult ones, to be simple and no instruction needed
    Debut time: Choose the right time to run your website, get many users as possible
    Bad comments, it’s still…ok cuz it helps you know who and where you are
    Understand every details of your product
    Report: figures help you understand abt your website
    People is the key of success: hire the best people to work for you
  • 20. Recommended book
    Future of Management (Gary Hamel) (IBM, Google…business model) which you can order at tiki.vn
  • 21. Q&A
  • 22. Q&A
    1. Q: Start-up most difficulty?
    A: (Mr. Hieu) Get the right people to work for you
    2. Q: Online payment
    A: (Mr. Son) currently popular in Vietnam: COD
    3. Q:Without loyalty how can the marry.vn became successful?
    A: (Mr. Hieu) aim at right target: business class. Doing appropriate marketing: sponsor, give free services from vendors to office building
    4. Q:Priority in start-up: traffic, profit or value to customers?
    A: (Mr. Luan) depends on personal objectives. It could be sales target, or traffic or profit.
    (Mr. Son) If you don’t have much money or any investor to cover operating budget you need cash flow to sustain it.
  • 23. Q&A
    5. Q: Talk about your zero marketing?
    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.
    6. Q: What’s the difficulty of freemium model in Vietnam and how to do it in Vietnam?
    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.
    7. Q: Email marketing: quality and how to develop the list?
    A: (Mr. Son)
    • First: send to loyal customers
    • 24. Co-promotion, make clear benefit and objectives with your partners
    • 25. Click thru rate in email marketing: 10-15%. Conversion: 2-3%
    8. Q: what’s your company main profit?
    A: (Mr. Luan) Display ads, Bold users (VIP accounts), Marketing Campaign with brands
    (Mr. Long) you must think out of the box, now new devices like smart phones can change the way of getting money from customers.
  • 26. About me
    Phan LêAnh Minh (Minh Phan)
    Business fields: Apparel. Fashion Design. Online Business.
    Experience:
    2 years Product Designer for www.i-pop.net
    6 months sales manager for www.ancienthue.com.vn (restaurant)
    Currently:
    Doing start-up at www.classyv.com (fashion and event planning)
    I’m really happy to be your friend. Please add me on:
    http://www.facebook.com/minhphan
    http://www.twitter.com/minhphan
    http://www.linkedin.com/in/minhphan07
    Skype: minhphan07