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

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.

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