SMALL FISH CONQUERING

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

THE BIG POND

LEOW LEIK HONG

“is better to be a small fish in a big pond than to be a big fish in a small

(and shrinking) pond!”

Radin Baidrul Ikram,  MBA  Founder  of  BizCoach  Solu9ons  and  Pearl  Maternity  Hospital  

Entrepreneur,  Small  Business  Coach,  Advisor  and  Mentor  Penang,  Malaysia  

This  book  will  reveal  to  you  some  of  the  tried  and  tested  ideas  that  you  as  an  SME  can  make  use  of  to  make  your  product  stand  out  from  your  compe99on  and  capture  your  intended  audience’s  aJen9on,  without  having  to  spend  a  big  sum  of  money  on  marke9ng  and  adver9sing  campaigns.  All  it  take  is  just  a  liJle  crea9vity  and  ingenuity  .    

Be Different; Be Fun

Be  CREATIVE  and  apply  that  crea9vity  to  produce  something  fun  and  desired.  The  difference  between  a  brand  that  fails  and  one  that  succeeds  is  how  crea9vity  has  been  applied  in  each  marke9ng  campaign  that  creates  a  lot  of  happy  customers  for  the  business.      

Create Happy Customers

PART  1    Preparing  Your  Marke3ng  Ideas    

Our  leP-­‐brain  controls  logical  thought  processes;  while  the  right-­‐brain  is  responsible  for  crea9vity  and  emo9ons.    If  you  are  running  a  business,  which  side  of  the  brain  should  you  be  using?  The  answer  is  both,  you  would  need  all  the  logical  thinking  when  you  come  to  planning,  process  and  numbers;  while  crea9vity  is  needed  on  marke9ng  and  branding.  

Youtube  Channel  –  Piano  Stairs  hJps://youtu.be/rQNnwjew1w8  

Incorporate  crea9vity  and  fun  in  our  daily  business  rou9nes.  Here  is  a  genuine  case  study  in  which  the  Swedish  Government  had  wanted  to  encourage  their  people  to  use  the  staircase  more  frequently  rather  than  taking  the  escalator  as  they  exit  the  subway.        

1.   Ini3ate  a  Crea3ve  Idea.    Challenge  yourself  to  think  out  of  the  box  and  do  something  out  of  the  ordinary.    2.  Define  Your  Goal.    What  do  you  want  to  achieve  out  of  crea9ve  thinking?      3.  Explore  Your  Op3ons.    List  out  all  the  op9ons  you  have  and  narrow  them  down  to  those  that  can  be  developed  into  something  crea9ve  and  fun.    4.  Act  on  Your  Op3ons.    You’ve  talked  the  talk.  Now  walk  the  walk.  

Generating IDEA

“ Commercial, Profitable, Enterprise That works

without ME!! ”

Quoted from Brand Sugars’ book

~ Instant  Cash  flow  

If  you  are  running  a  business,  your  aim  is  to  built  a  business  which   has   high   commercial   value,   making   money,  surrounded  by  a   trust  worthy   team  and   integrated   into  a  workable  system.    All   of   these   operate   without   your   involvement   as   a  business  owner.      

Education & Communication Is  about  

Always  educate  your  customers  on  the  benefits    of  your  product.      Like   the   First   Genera9on   iPod  Classic.    Steve  Jobs  only  focus  on  its  benefit  –  1000  songs  in  your  pocket.      

•  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  ...    

Youtube  Channel  –  HomePlus  hJps://youtu.be/kv3zB3et8-­‐o  

Be Unique

Purple Cow

Quoted from Seth Godin’ book

~ Purple  Cow

Something  truly  unique  that  stand  out  from  the  mass.    Infusing  crea9vity  and  fun  into  your  marke9ng  efforts  will  not  only  help  to  make  your  product  a  purple  cow,  but  a  cash  cow  too.    

Crea3ng  a  Difference  can  also  be  done  with  a  … Guarantees  

•  Increases  confidence    •  High  level  of  security    •  It’s  a  contract  (buyer  &  seller)  

•  Product’s  Quality  •  Advantage  of  seller  

Guarantee  works  in  5  ways  

PART  2    Crea3ve  Marke3ng  for  Small  Fishes  

Unlock  the  Five  Different  Steps  in  

Marke3ng    

CUSTOMER  è  REVENUE  è  BUSINESS  PROFIT  

     1.  Marke3ng  to  Generate  Leads

Lead   genera9on   is   basically   about   informing   the   market   about   the   product   you   are  offering.   Lead   genera9on   avenues   can   be   as   simple   as   distribu9ng   flyers,   displaying  banners,  adver9sing  in  newspapers  and  magazines  or  aJending  networking  func9ons.    

     2.  Marke3ng  for  Conversion    

Lead   genera9on   does   not   necessarily   result   in   sales   transac9ons.   Turning  poten9al  customer  leads  into  definite  customers  is  called  a  conversion.    So,  how  do  you  convert  sales  leads  or  prospects  into  sales?    It  can  be  fulfilled  by  offering  guarantees  such  as  “try  before  you  buy”  as  well  as  ensuring  the  product  is  easy  available.    

EASY  TO  BUY  

Make  your  product  easy  to  buy,  with   large  &  clear  photos,  filled  with  cap9ons  and  price.  With  a  glance,  customer  know  exactly  what  to  order.  

3.  Marke3ng  to  AWract  Repeat  Sales  While  Step  1  and  2  focuses  on  how  to  acquire  new  customers,  the  third  step   is  all  about  keeping  your  customers.    An   useful   strategy   to   increase   sales   as  well   as  maintain   customer   loyalty   to   your   brand  would  be  a  Customer  Loyalty  Programme.    

Sakae Sushi ang pow

Give  Angpow  as  a  voucher,  which  can  be  used  by  your   customers.   Apart   of   celebra9ng   CNY,   it   is  also  a  great  tool  to  create  repeat  customers.  

4.  Marke3ng  to  Upsell  &  Increase  Average  Spending  This   step   is   about  how   to  encourage  a   customer   to   spend  more  when  he  buys  a  product  from  you.  One  of  the  common  strategies  used  by  large  corpora9ons  to  increase  the  average  spending  is  by  “Up  Selling”.    Up  Selling  is  a  technique  that  is  used  by  sales  personnel  to  get  their  customers  to  spend  just  a  liJle  bit  more.    

Shopping  Basket  

By  providing  a  basket  for  your  customers,  you  are  actually   helping   to   free   their   hands   so   they   can  easily  buy  more  from  you.  With  one  hand  holding  the   basket   and   the   other   hand   free   to   pick   up  items,  before  they  know  it,  your  customers  would  have  bought  a  whole  lot  more  in  a  single  visit.    

5.  Marke3ng  to  Improve  Profit  Margin  REVENUE  =  TOTAL  INCOME  -­‐  COST  The  amount  of  profit  a  business  makes  at  the  end  of  the  day  really  depends  on  its  overall  business  costs.    

1. Lead Generation X

2. Conversion% =

Customer(s) x

3. Transaction x

4. Average $$ Sales =

Sales x

5. Margin % =

$ Profit $

5Steps  Strategies  

to  improve  your  Business  Profits  

Let’s    add    some  

number  

4,000  ppl  x  

25%  =  

1,000  ppl  

X  2  3mes  

x  $100  =  

$200,000  x  

25%    =  

$50,000  

1.   Lead  Genera3on  X  

2.  Conversion%  =  

Customer(s)  x  

3.  Transac3on  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  Genera3on  X  

2.  Conversion%  =  

Customer(s)  x  

3.  Transac3on  x  

4.  Average  $$  Sales  =  

Sales  x  

5.  Margin  %  =  

$  Profit  $  

     Sales              46%    

   $Profit$    61%  

PART  3    Social  Media  Marke3ng  for    Small  Fishes  

social  everything  

Social  technologies  will  be  at  the  heart  of  everyday  life  and  business  environment.  

What come into your mind when you

hear about  Social Media?

Social Media is a

conversation supported by online tools

Business  are  constantly  having  conversa9on  with  their  target  audiences,  with  Social  Media  we  are  doing  it  via  the  internet.      

There   are   thousands   and   thousands   of   Social  Media   Platorms  out  there.  How  are  these  platorms  going  to  help  you  on  your  business?      

1)  Social media is not free.

2)  Social media will not bring you instant results.

3)  Social media cannot make up for a bad product or service.

Warnings  about  Social  Media  

3  Steps  to  Business  Profit  @  Social  Media  

1. Establish Goals

Ques3on:  What  is  your  goals  &  objec9ve  on  Social  Media?  

Example:  •  Professional  –  create  personal  or  industry  branding,  market  awareness  on  what  we  do  and  how  we  can  add  value  to  our  target  audiences.  

 •  Retail  –  generate  leads  and  traffics  to  our  retails  outlet,  encourage  people  to  talk  about  us.  

•  Manufacturer  –  educate  our  target  market  on  company  value  /  culture  for  recruitment  purpose.  

•  WHO are your customer?

•  WHERE do you find them?

•  WHAT offer you had for them?

•  HOW are the message sent?

2. Listen

3. Built

Choose  your    channels

wisely    Top  5  Recommended  Social  Media  Platorms  

1.  FACEBOOK  As  the  world’s  most  popular  and  well-­‐known  social  media  platorm,  Facebook  has  exceeded  1  Billion  users  worldwide  today.  In  Malaysia,  half  the  popula9on  have  an  account  on  Facebook.    

2.  TWITTER  One  of  the  most  fast-­‐moving  and  up-­‐to-­‐the-­‐minute  sites  in  the  world!  A  platorm  with  a  very  simple  structure,  TwiJer  enables  its  users  to  tweet  a  simple  message  not  longer  than  140  characters  on  each  pos9ng.    

3.  YOUTUBE  This  is  the  social  media  site  that  everybody  goes  to  for  the  latest  videos.  YouTube  has  made  marke9ng  a  breeze  for  those  who  wish  to  showcase  their  company,  products,  services  or  even  talents  in  an  audio-­‐visual  format.    

4.  PINTEREST  Unlike  other  social  media  platorms,  Pinterest  is  a  rela9vely  new  site  that  was  only  established  in  2010.  Its  structure  is  quite  similar  to  that  of  TwiJer’s,  the  only  difference  being  that  you  post  photos  instead  of  text.    

5.  LINKEDIN  Unlike  the  previous  social  media  sites,  which  cater  more  for  businesses  to  customers,  LinkedIn  is  slightly  different  in  that  it  is  used  more  to  connect  businesses  to  other  businesses.  It  allows  professionals  to  upload  their  profiles  on  the  site  and  connect  them  to  a  wide  network  of  people.    

Create  A  Landing  Page…  

When  a  prospect  search  your  business  online,  they   found   your   landing   page.   It   could   be   a  website,   a   blog   or   any   of   the   social   media  platorms.  Remember,   you   only   have   30   seconds   to  impress   your   visitors   and   convince   them   to  con9nue  browsing  or  leave.      

Engaged  Target  Audiences  Build  Rela>onship  

STOP!�

• Establish Goals •  Indentify the needs • Select a platform • Engage Audiences • Build Relationship • Don’t SPAM • Repeat the above

PART  4    Learning  from  the  Big  Fishes  

Starbucks  History •  Founded  1971  •  By  Jerry  Baldwin,  Gordon  Bowker  &  Zev  Siegl  

•  Sold  only  whole  bean  coffee  &  coffee  brewing  machine  

•  Howard  Schultz  joined  in  1982  as  head  of  marke9ng  

•  1987  sold  to  Howard  and  rebrand  as  Starbucks  

Video:  Dan’s  Coffee  

# 1 Most engaged brand online Altimeter Report 2009

THE FLYWHEEL EFFECT

Integrated:  Global  Retail  CPG  

Stores & Partners!

Digital owned/paid

Traditional Media

Social Media

Earned Media

Loyalty/Card

•  Excellent  Customer  Service  

• Quality  Product  •  Acceptable  •  Social  Responsibility  

•  Strong  Financial  Support  

•  Brand  Recogni3on  

-­‐  Steve  Jobs  

6 Success

Principles of

Principle  One:    Do  what  you  love.    

“Have  the  courage  to  follow  your  heart  and  intui3on.  They  somehow  already  know  what  you  truly  want  to  become.”  

Principle  Two:    Put  a  dent  in  the  universe.    

Steve Jobs has never underestimated the power of vision to move a brand forward. In 1976, Steve Wozniak was captivated by Jobs’ vision to “put a computer in the hands of everyday people.”

Principle  Three:  Kick  start  your  brain.    

“Part  of  what  made  the  Macintosh  great  was   that   the   people   working   on   it   were  musicians,   and   poets,   and   ar9sts,   and  zoologists,   and   historians   who   also  happened   to   be   the   best   computer  scien9sts  in  the  world.”  

Principle  Four:    Sell  dreams,  not  products.    

MacBook  Air.  The  world’s  thinnest  notebook.  

Principle  Five:    Say  no  to  1,000  things.    

   “Innova9on   comes   from   saying   no   to  1,000   things   to  make   sure   we   don’t   get  on   the   wrong   track   or   try   to   do   too  much.”    

The iPad is so simple a 2-year-old can use it.

The Apple Web site features one product.

Principle  Six:    Create  insanely  great  experiences.      

“People   don’t   want   to   just   buy  personal   computers   anymore.   They  want  to  know  what  they  can  do  with  them,   and   we’re   going   to   show  people  exactly  that  

Apple Store the gold standard in customer service by introducing simple innovations any business can adopt to create deeper, more emotional connections with their customers.

Meet  Your  Mac.  

Personal  touch  is  essen3al,  not  selling.  

Zappos ‘ Experiences

Recent  Recogni3on:  Nice,  but  we  pay  more  aJen9on  to  

our  customers  •  TV  Stories  

–  Oprah  (2008/2009)  –  ABC  Nightline  (2008)  –  60  Minutes  (2007)  

•  Fortune  “100  Best  Companies  to  Work  For”  –  #23  (2009)  –  Highest  ranking  newcomer  to  list  

•  Fast  Company  “50  Most  Innova9ve  Companies”  –  #20  (2009)  

•  BusinessWeek  Top  25  “Customer  Service  Champs”  –  #7  (2009)  

 

Excellent  “World  Class”  Customer  Service  

Company  Culture  

Zappos’  Core  Value  1.  Deliver  WOW  Through  Service  2.  Embrace  and  Drive  Change  3.  Create  Fun  and  a  LiJle  Weirdness  4.  Be  Adventurous,  Crea9ve,  and  Open-­‐Minded  5.  Pursue  Growth  and  Learning  6.  Build  Open  and  Honest  Rela9onships  With  

Communica9on  7.  Build  a  Posi9ve  Team  and  Family  Spirit  8.  Do  More  with  Less  9.  Be  Passionate  and  Determined  10. Be  Humble  

 

•   Pay  new  employees  $2000  to  quit.    

•   Make  customer  service  the  responsibility  of  the  en@re  company,  not  just  a  department.  

•   Focus  on  company  culture  as  the  #1  priority.  

•   Apply  research  from  the  science  of  happiness  to  running  a  business.  

•   Help  employees  grow  both  personally  and  professionally.  •   Seek  to  change  the  world.  

•   Oh,  and  make  money  too.  

In  a  Nutshell    One  More  Thing  

The   Ladder   of   Loyalty  illustrates   the   different  p h a s e s   o f   t u r n i n g   a  prospect   into   a   customer  and  ul9mately,  into  a  raving  fan.      As   a   business   owner,   it   is  important   for   you   to  understand  that  at  different  p h a s e s ,   y o u   s h o u l d  i m p l em e n t   d i ff e r e n t  strategies  for  the  maximum  impact.  

COACH  LEOW  LEIK  HONG   is   an  out-­‐of-­‐the-­‐box  business   coach  who   is   passionate   about   helping   people   to   achieve   their  business   goals.   As   a   former   engineer   and   professional   sales  consultant,   he   understands   the   needs   of   an   SME   business  owner  and  how  to  address  them  accordingly  and  crea9vely.      As   a   cer9fied   Professional   Trainer   with   the   Interna9onal  Professional   Managers   Associa9on   (IPMA   UK)   and   Human  Resources   Department   of   Malaysia   (HRDF),   he   currently  conducts  one-­‐on-­‐one  coaching  sessions,  business  seminars  and  training  workshops.   He   is   also   regularly   invited   to   be   a   panel  speaker   and   trainer   at   many   business   conferences   locally   as  well  as  interna9onally.        To  have  a  private  consulta9on  with  Coach  Leik  Hong,  email  him  at  leow@leikhong.com  or  follow  him  on  TwiJer:  @leikhong        To  find  out  more  about  Coach  Leik  Hong,  visit  www.leikhong.com        

ABOUT  THE  AUTHOR  

Available at:

hJp://smallfishidea.com/  

ebook Vers ion can be purchase and download

THANK YOU.