@FEDORIVHUB FILES: Digitalisation 3.0

21.04.2020

KYRYLO KUNYTSKYY

Kyrylo talked about what makes a successful business.
What is it that your business can’t live without?
What is essential to its performance?
What makes it earn money?

1. Product.
You need to understand clearly what your client misses out on if they don’t use your product. Don’t describe the product itself, show its advantages or how and which problems it solves.

2. Deep understanding of the target audience.
You can’t make everyone your client.
If your target audience is clearly defined, you understand what leverage you have.

3. System-based approach.
A system is something whole, a sum-total of appropriately arranged interconnected parts.
You need not focus on one specific problem or develop one particular department. Address everything in a broader context.

4. Positive customer experience (social proof).
You can influence customer loyalty, which brings you repeat sales.
Building a relationship with a client is akin to a romance: you meet them, you woo them, you propose to them. And then you build a long-term relationship.

5. Walk your talk.
Your marketing specialist can come up with the most attractive unique selling proposition out there, but clients won’t come back if you fail to live up to it.
Stand by your words, and always fulfil your promises.

6. When it comes to sales, it’s ‘more haste, less speed’.
There are many customer types out there, and each takes a different time to make a decision.
A sales manager needs to feel the client, give them time to think but don’t lose sight of the thin line after which the deal comes to halt.
As we said before, client relationship management is akin to a lasting romance.

  1. Meet them. Show your business to the client, so that they know it. They can’t see that they need you if they don’t know you exist.
  2. Woo them. This is where you build customer loyalty. Put yourself in your future customer’s shoes, try to understand their needs and problems and offer the ways of alleviating them. Kindle their interest.
  3. Propose to them. It’s time to stimulate sales, but don’t be pushy.

Nurture the relationship. At this stage, you need to manage your customer’s loyalty and stimulate repeat sales.

7. Content is king.
Always watch what and how you communicate to the world. Your content moulds the image of your brand in the eyes of the customer, and you control its presentation.

8. Effective organizational structure.
This one should be rather clear. Without an organizational structure, your staff will wander clueless.

9. Business processes.
You need to have a clean-cut roadmap or a business process map. Don’t keep your staff guessing and looking for a way out in a labyrinth of convoluted tasks. They need to know the directions and follow them.

10. You control what you can measure.
ROMI, return on marketing investment: the lacklustre performance of most business owners is due to something called the Hamster Wheel Syndrome—the business owner’s obsession with operational routine, being stuck in the hamster wheel of trivial day-to-day operational tasks. It is an addiction, as in the case of alcohol or smoking.
It manifests as the urge to handle all the everyday tasks and problems of the business personally…’

The Leverage Principle: sometimes it is enough to change just one little thing to boost performance.
You need to know the processes/components of your business structure, even insignificant changes to which can bring about massive change.

11. High recruiting and team management standards.
You need not be afraid to delegate and source expertise externally. Suppose you need an internet marketing specialist, but you as a business owner are unfamiliar with the domain, and neither is your HR.
How do you evaluate the candidates?
You can take potluck, or you can contract a third-party recruiter to find the suitably qualified candidates.

12. Corporate culture.
Who are you?
What is your company?
How does your staff need to feel working for you?
Which rules do they need to follow?
Which values do they need to share?
It is crucial that you answer all these questions because there are lots of employers out there, and the atmosphere in your team determines your staff’s performance.

13. Leadership development
Remember: you need to invest not only in your business but also in the development of the team that leads it.

14. Financial model
Marketing hypotheses → Quantitative forecasting → P&L budgeting and cash flow forecasting.

15. Strategy and consistent adherence to it.
Kyrylo recommends going for the Agile methodology. It enables managers of all levels to plan and project work, as well as assemble the teams to ensure high adaptability of the business amid the dynamic market conditions and business environment.

ARTEM MAYDAN

Let’s break the mould and share the secret of success as Artem Maydan sees it right from the get-go.
Ready?

Trust your guts and work like there’s no tomorrow. That’s all, folks! 🙂

 

OK, maybe a few things need to be clarified.

1. People have seen it all, and it is essential to know how to surprise them. During one PRIZMA event, the hosts decided to surprise the attendees by inviting Yevhen Chernyak and Dmitry Portnyagin. They counted on the distinctness of speakers and their different experiences in business.
But the result exceeded all expectations.
You remember the ‘What’s your profit margin?’ question, do you?

2. Never hold an event without a detailed calculation. At the earliest stages of planning, you need to know how many people you expect to attend. Disregard how you will achieve it, just come up with a number.

3. Forecasting and figures. Track all your indicators daily, because even the tiniest event/action may be a game-changer when it comes to events.

4. Prompt reaction. Be trendy, follow the trends and use them to your advantage.

5. Product first. When it comes to events, you need to think about everything: chairs, screen, ventilation, security, seating arrangement. One might wonder what security has to do with the product. However, security staff affects the attendees’ experience, too, so make sure to instruct them properly in addition to taking care of content- and equipment-related needs.

6. Customer loyalty. You need to turn the people who attend your event to brand advocates. Exceed their expectations, give them what you promised and even more. Communicate, ask for feedback, keep in touch. According to Artem’s data, regular customers’ ticket purchases accounted for 37% of the total.

7. Be different. Experiment with the format, seating arrangement, speakers, special offers, sales triggers, etc.

DMYTRO FELIKSOV

Progress never stops.
It seems that only recently we were standing in a line to buy flowers or had to find a ticket scalper if we wanted to go to a concert. Now it all is just a click away.

Dmytro Feliksov talked about how we came this far and unravelled a couple of secrets about ticket sale operators.
The entertainment event market must evolve as the world changes and viewer behavioural templates shift. Nowadays, you can become successful only if you know precisely who your customer is, what they need, where they are, and lots of other things.
The customer is happy when they instantly get what they want without thinking or waiting for it.

The present-day ticket sale operator is a systemic business that stands on four pillars:

1. Management by objectives. Without objectives, management is impossible:

⁃ If the goals are not quantifiable, they are unreachable.
⁃ If they take too long to quantify and verify, internal evaluation becomes slow, and so does analysis and decision-making.

Solution: clear-cut long- and short-term goals.

 

You need to understand which KPI you need. Overarching objectives can include numerous sub-targets:

– Gross revenue
– Gross revenue structure
– The customer’s and region’s share in gross revenue and how a specific manager affects it.
– Expenses the company incurs in connection to a particular contract or transaction, how it affects the results, etc.

2. Process management.
If we talk about resale operators, CRM systems are indispensable to avoid data and time loss and streamline processes.

3. Audience segmentation.
Get a clear understanding of who your target audience is, what they need, and how you can cover their every need.

4. Analysis of sources and behaviours characteristic of audience segments.
The analysis of your target audience will give you an insight into its behaviour and decision-making path.
You always need to keep track of that path and adapt your marketing communications if it changes.

You need to shorten the chain that leads to the desired result, meanwhile improving your efficiency.

VIKTOR KINSHOV

It doesn’t matter how great your event is if no one knows about it.
Only a proper digital strategy can ensure the audience discovers you and buys your tickets.

Before you start, you need two things:

– A marketing model
– And a target audience

Viktor Kinshov found the RACE model to be the most effective:

R — Reach (Reach your audience and improve their knowledge of your brand/product/service)
A — Act (Proceed to remarketing immediately after the audience takes the desired action on your landing page or website)
C — Convert (All the previous actions convert to sales and the audience to customers)
E — Engage (accumulate audience on your channels)

And now let’s touch on the target audience. Depending on the niche, a business can cater to multiple types of the target audience. You need to create a customer portrait and then use it for targeting.
Forget faceless descriptions, imagine real people and talk to them in their language. Base the customer portrait solely on the actual user data or the analytics from previous work.

*For Brave! Factory, 11 customer portraits were created, all of which became the foundation for the strategy.
Also, bear in mind that for different audiences, promotional materials and communication channels will differ.