3 golden rules for a bigger business profits

SMALL FISH MARKETING Simple  and  Remarkable  Ways  to  Improve  Your  Marke9ng  Results  in  a  Compe99ve  Environment  

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Coach  LEOW  LEIK  HONG  Bsc  in  Electronics  &  Compu<ng  

Cer<fied  Professional  Trainer  (IPMA  UK)  (HRDF  Malaysia)    

•  Business  Transforma<on  Coach  •  Interna<onal  Trainer  /  Speaker  •  Book  Author  –  Small  Fish  Conquering  the  Big  Pond  

•  Founder  of  www.smallfishidea.com  ebook  sales  page  

•  Founder  and  MD  of  Digital  Profit  Consultancy    

Ø  Business  Model  Development  Ø  Company  Culture  Cul9va9on  Ø  Crea9ve  Marke9ng  Strategies  Ø  Sales  Management  Development  Ø  Social  Media  Marke9ng    

Specialize  Programme:  

Facebook  Workshop  @  Bali  

TEAM  Building  @  PD  

 What  I’m  doing  now….  

With  Coach  Radin   Ac<onCoach  Boot  Camp  

Intel  MY  Advisor  Training   CEO  Conference  Seminar  

What  you  can  expect  from  this  seminar?  

Blinding  Flashes  of  the  Obvious…  

BFO’s…  

100% Participation

I KNOW…

To  Get  the  Most  Out  of  Your  

You  Must  Be  Willing  to  Have  Some    

What to Expect? ü A lots of coaching and 2-way discussion

ü Team presentation

ü Games and Activities

ü Questions and Answers

ü Tons of knowledge that you may get from

classroom  

For  today…  

BE IN BUSINESS?

Wealth Creation Ladder

Employee  1  

Investor  5  Owner/Leader  4  Manager  3  

Entrepreneur  6  

Self  Employed  2  

Common  Challenges  

1. GST  implementa9on  –  Business  geHng  harder    2. Ringgit  value  decrease    3. Cost  geHng  higher  4. Compe99on  arise  5. Low  margin  product  6. Talents  are  hard  to  recruit  

1. Business Model are confusing 2. Company Vision/Direction is not clear 3. USP – Do you have one? 4. Market Positioning 5. Management System 6. People Development Program

Actual  Challenges  

Commercial, Profitable, Enterprise That works

Without ME!!

Very Busy Job

.  

Rule  #  1:  Rule  of  En<<es  

Owner and his Business are

2 different entities

Rule #1 – Rule of Entities

1. Business Plans

2. Business Model

3. Business Targets

4. Operation System

5. Organization 6. People 7. KPIs

8. Milestones

Business Direction

System

Team

Rewards

1.  Business Plan – WHY? •  Vision / Mission •  Goals •  Culture

2. Business Model •  WHAT you going to do? •  HOW you going to do it?

3. Business Targets •  3 - 5 Years Plan •  2015’s Plan •  90 days Planning

Rule  #  2:  Rule  of  Profits  

Profitable Products

Profitable Business

Rule  #2:  Rule  of  Profits  (Water  Tank  Analogy)  

è Resources IN

Sales $$$ Equity Loans

Resources OUT è Expenses Purchases

BUSINESS

PROFIT LEAKAGES

The  Language  of  Business…  

NUMBERS Financial Intelligence

Sales Marketing Growth

Margin Risk Cash Flow

Etc…

The  Language  of  Business…  

TEST & MEASURE

Know your number…

Phase  1:  Financial  Data  Collec<on  

Collecting and Recording

Financial Data

Phase  2:  Financial  Data  Processing  

Phase  3:  Financial  

Informa<on    Interpreta<on  

Phase  4:  Financial  

Informa<on  Applica<on  

Processing Financial Data into Financial Information

Intrepreting Financial

Information

Applying Financial

Information

4  Phases  Financial  Management…  

Rule  #  3:  Rule  of  Selling  

It’s not WHAT you sell, it’s HOW you sell.

“Being Different”

Rule #3 - Rule of Selling

1.

Niche •  Branding •  Purple Cow •  Market Positioning

4 Steps ofMarketing Strategies 1.  Leads Generation

2.  Convention 3.  Repeat Transaction 4.  Average Spending

2.

Customer Experiences

•  Touches •  Buying Process •  After Sales Nurture

3.

BRANDING

Which one attract you better?

Which one attract you better?

A brand is not just a logo.

It is a collection of perceptions in the mind of a consumer…

BRANDING  DNA  

1.  Connec<on  –  Sport  shoes  2.  Promise  –  Reliable,  Trustworthy,  Well  design.  3.  Experience  –  Comfortable  running  shoes  4.  Consistency  –  Shoes  quality  5.  Personality  –  Sporty,  Healthy  and  Look  Good  6.  Rela<onship  –  Run  a  like  Pro  (Michael  Jordan)    

Branding of NIKE

Branding = Connection

Branding is creating a collection of perceptions in the mind of others…

Education & Communication

Defini<on  of  

Note:  Special,  USP,  PC  

Marke<ng  is  about  crea<ng  

Purple Cow

Slimming  Product  Adv  

1.  Made  it  EASY  

You  can  slimmed  down  even  while  you  are  asleep.  

2.  Made  it  FAST  

In  10  days  

3.  Made  it  SAFE  

A  facial  cleanser  that  you  can  drink  

A  Successful  USP  Should  Be  …  

•  Truly  unique  …  •  Exci9ng  to  your  target  market  ...  •  Something  that  will  get  people  talking  ...  •  Something  that  can’t  be  easily  copied,  or  if  it  can  be,  it  will  be  an  obvious  rip-­‐off  on  the  part  of  the  offending  business  ...  

Video:  HomePlus  

4 Different Types of Products 1.  BASIC PRODUCTS

– Popular products that generate good leads.

2.  PREMIUM PRODUCTS – High margin products.

3.  SUPPORTING PRODUCTS – Supplement products that support either the Basic or

Premium products.

4.  SERVICE PRODUCT – Value add services and supports to your customer.

NICHE Price

Competition

1. Lead Generation X

2. Conversion% =

Customer(s) x

3. Transaction x

4. Average $$ Sales =

Sales x

5. Margin % =

$ Profit $

5Ways  Strategies  

to  improve  your  Business  Profits  

     Where do you find lead?

1.  Purple  Cow        Effect  

2.  Gegng  the            news  out  

i) product & company culture

ii) create a story... Angry  Birds:  good  &  bad  guys  

25  leafs  Mango  is  the  BEST  

iii)  uniqueness  &  curiosity  

something  to  talk  about  

Klein  Constan<a  Farm  -­‐  Honey  

iv) Product packaging

packaging  experiences.  

Spagheg  noodles.  Biscuit.  

Fruit  juices.  

Tomato  sources.  

crea9ve  packaging  bag  

熊の食  BEAR  BITES  

v) theme

1.  Purple  Cow        Effect  

2.  Gegng  the            news  out  

WHO ? WHERE ? WHAT ? HOW ?

1. Lead Generation X

2. Conversion% =

Customer(s) x

3. Transaction x

4. Average $$ Sales =

Sales x

5. Margin % =

$ Profit $

5Ways  Strategies  

to  improve  your  Business  Profits  

An<histamines  

Panadol  

Acetaminophen  

Ibuprofen  

EASY  TO  BUY  

Simplify  

~  Best  Florist  Signboard  ~  Apology  Flowers   -­‐  perhaps   the  greatest  billboard  ever  created   for   the  floral   industry  by   the  Society  of  American  Florists  (SAF),  'Exactly  how  mad  is  she  ?'  tells  a  story  in  three  images.    

     DELL  –  Warranty  Service

     Life-­‐<me  Warranty

testimonial

Minion Attack – Urgency

unparalleled customer experience Video:  Apple  Store  Barcelona  

1. Lead Generation X

2. Conversion% =

Customer(s) x

3. Transaction x

4. Average $$ Sales =

Sales x

5. Margin % =

$ Profit $

5Ways  Strategies  

to  improve  your  Business  Profits  

Loyalty Card

Starbucks Tumbler

Sakae Sushi ang pow

Starbucks Ang Pow

1. Lead Generation X

2. Conversion% =

Customer(s) x

3. Transaction x

4. Average $$ Sales =

Sales x

5. Margin % =

$ Profit $

5Ways  Strategies  

to  improve  your  Business  Profits  

McDonald’s  Bundle  

   Up  -­‐  Selling

Extension Warranty

Check-List

Demand Creation

Shopping  Basket  

1. Lead Generation X

2. Conversion% =

Customer(s) x

3. Transaction x

4. Average $$ Sales =

Sales x

5. Margin % =

$ Profit $

5Ways  Strategies  

to  improve  your  Business  Profits  

Let’s    add    some  

number  

4,000  ppl  x  

25%  =  

1,000  ppl  

X  2  <mes  

x  $100  =  

$200,000  x  

25%    =  

$50,000  

1.   Lead  Genera<on  X  

2.  Conversion%  =  

Customer(s)  x  

3.  Transac<on  x  

4.  Average  $$  Sales  =  

Sales  x  

5.  Margin  %  =  

$  Profit  $  

4,400  ppl  x  

27.5%  =  

1,210  ppl  x  

2.2  9mes  x  

$110  =  

$292,820  x  

27.5%    =  

$80,525.50  

10%  Improvement  

4,000  ppl  x  

25%  =  

1,000  ppl  

X  2  9mes  

x  $100  =  

$200,000  x  

25%    =  

$50,000  

1.   Lead  Genera<on  X  

2.  Conversion%  =  

Customer(s)  x  

3.  Transac<on  x  

4.  Average  $$  Sales  =  

Sales  x  

5.  Margin  %  =  

$  Profit  $  

     Sales              46%    

   $Profit$    61%  

What  are  your  5  WAYS  strategies?  

What  is  your  Purple  Cow?  

How  do  you  Generate  Leads?  

How  do  you  Convert  leads  into  customer?  GeHng  your  customer  to  Come  Back    for  more?  Do  they  Buy  a  Liple  Bit  More?  

WRITE DOWN…

YOUR TOP LEARNING POINTS.

BUSINESS TRANSFORMATION

COACH LEOW LEIKHONG  

Twiper  @leikhong  

www.facebook.com/smallfishidea  

 Email:  leow@leikhong.com