- This is not about events, by the way.
Some of you could be
thinking, well, Peng Joon,
I don't run live events, I sell
a brick and mortar business,
I run a consulting agency.
It does not matter what you sell.
- Peng Joon.
- Peng Joon.
- Peng Joon is here.
I want you to set your expectations high,
because I will massively exceed them.
(whooshing)
(upbeat music)
- Quick context before I begin,
this was at a live event that I did
where I wanted to make a 10 to 1 return
and show you guys behind
the scenes to how it's done.
Now, one of the things that I know
and I've been saying this
in previous videos is this.
This was before countries were shut down,
this was before the whole crisis happened,
but the same principles apply.
This shows the numbers
you need to understand,
this shows understanding how to pivot,
so because events don't work anymore.
Notice what I've been doing recent weeks,
I've pivoted to online events
and the same principles applied.
If you wanna discover how to run
profitable Facebook ad campaigns,
you need to watch this video right now.
All right, five minutes to doors open,
but they're testing the audio
and it looks like the sound
is a little bit muffled.
I'd not recommend reaching your event
five minutes before it starts.
All right, so here we are
stuck in traffic right now.
It's 1:44 and we're
expected to reach at 1:55.
Event starts at two o'clock.
- [Narrator] A few inches later.
- All right, we are 300 meters away,
but 300 meters takes us 11 minutes,
so I am gonna walk.
All right, so we are walking
and if you know me, I
thrive under pressure,
but literally we have about
800 people registered.
We normally expect about half to show up
and the event starts
in what eight minutes.
The Malaysian way is to hold up your hand.
All right, here we are with Marcus.
Marcus what's happening?
- Business Builder Workshop,
we have close to 1,000 people registered.
So we're super excited.
- 1000, okay.
Yes, we need check our ID make
sure that we're not spreading
any viruses here.
Imagine 1,000 people
going through that today.
Still a little bit nervous
about what the show up rate is gonna be,
because of the virus.
If you watch my last episode of the event
we did in Singapore, our show up rates
were severely affected.
It was like half.
Okay let's go check out the room.
Okay, here we are.
Hey, Sam, why don't you
walk us through the numbers,
how many people we have registered
and how many people is waiting outside?
- So we have about 800 people,
- Registered for this.
- who actually registered
for this event.
- Okay.
- so at the moment
we have about...
- Okay, so 800, we're
having two sessions today
800 this afternoon.
How many people for tonight registered?
- For tonight is actually 788.
- 788, okay, so we have a problem.
The problem is the room
size at max capacity,
is probably about 350 people,
if you pack everyone like sardines here.
Usually we get about
50% of people show up.
So even then there's a lot of people.
We'll see what happens.
Chances are there might
be people standing around.
So the team now is
gonna set up the laptop.
We are supposed to open
doors in like, five minutes.
We barely made it and a little
bit nervous at the same time
because there seems to be
a lot of people outside.
(upbeat music)
All right, so it's the
end of our first session,
and there was some major
technical issues with AV
but the response was
still through the roof.
And one of the things that
I'm always telling myself
when things don't go according to plan
is that what separates the best
leaders from everyone else,
is how they navigate through the storms.
Whenever something doesn't
go according to plan,
I'm always reminding myself, right,
any captain can navigate
the ship when it's calm,
but it's always when it's the
storms that will differentiate
the ones that are legendary
and the one's that are average.
So when all of the AV
issues was happening,
remember that mistakes are only mistakes
if you acknowledge them.
And if you don't, maybe it was
part of the plan all along.
Need to get a quick bite,
and let's see what happens
with the second session.
All right, so it's 6:54, six
minutes before doors open.
I made a mistake I had
too much carbs in between
and I can feel like the food
was laced with sleeping pills.
Ah, I should not have
done too much noodles.
But anyway, so.
(upbeat music)
All right, and this is
it, the team is packing up
super long day two sessions.
And right now I'm gonna walk
you through the numbers,
and ultimately, whatever
it is that you wanna sell,
Whether it's service, whether
it's a physical product,
whether it's a training,
how to run profitable ads.
And we'll interview a
few people from the team
that was crucial in terms of planning
and making it all work.
So they can see behind the
scenes to what it takes to plan,
fulfill, deliver something like that,
and let's go interrupt them.
Hey Sam, we're gonna interrupt Sam again
from her busy schedule.
Sam was not happy with me this morning
because I was literally late.
But Sam, just real quick, let's debrief.
So just real quick with two sessions.
How many people registered
and how many people were here?
- Each session there's about like 800,
close to 800 people who registered,
from all sessions.
- So 800 people registered.
Okay, so one of the things
that you always hear me say
is you must know the numbers
in your business, right?
So 800 people registered.
How many people showed up?
- So like for the first
session, we have about like,
280 people that showed up.
- 280 showed up.
- Second session was about 360.
- 360, okay, it's really
crucial that in your business,
you must understand your numbers
in every step of your business.
Okay, thanks Sam, I think yeah.
So what does that mean?
Okay, you might be
thinking, well, Peng Joon
I don't run live events,
so like, why do I need
to know these numbers?
No, it means that if you're
selling a physical product,
it means that if you're
running a webinar funnel,
if you are selling coaching,
if you're selling a
done for you consulting,
you must know the key
drivers in your business.
Let me map it all out to you.
Hey guys can have someone
pass me a piece of paper and some pen.
Hey Marcus need some time,
I think he's looking at the ad account,
this might be a little
bit weird or awkward.
The whiteboard, is that whiteboard?
Okay, okay, here we are, whiteboard.
Let's talk about key drivers, okay?
What are your key drivers?
And where are the breaks
in your business model?
Real quick heading over to Marcus,
how much have you spent on this event?
- We spent RM58,000 so...
- Okay, so RM58,000, by the way guys,
depending on where you're watching this,
I'm just gonna round it up,
but this is about a $15,000 ad spend.
Okay, this is not about events by the way.
Some of you could be thinking,
well Peng Joon I don't run live events,
I sell a brick and mortar business,
I run a consulting agency, I
sell a done for you service
I wanna sell masterminds.
It does not matter what you sell.
The first number you must
know is how much did you spend
on that campaign.
So you've heard from Sam just now,
we had about 850 people registered
for this event for both sessions, okay?
So 850, 850 roughly,
the people that show up
is usually about 50%, we're expecting
a lot more people to show up.
But because of the virus,
the numbers is like an all time low.
So we had about 280, I
think that's what Sam said,
and this last session
what was the show up?
360, okay, so 280 and 360.
Now, if you understand the
key drivers of your business,
then you'll know how to improve.
Now, the next number that you must know
in order to get 850 people registered,
we must know how many clicks
were sent to this page
in order for us to get 850 registered.
Now I'm gonna put Marcus on the spot here.
- We got 12,764 clicks.
- Okay, so if you don't know what that is,
this is literally so
you'll see that 12,764.
So what does this mean?
It means that we are paying roughly
slightly less than $1 per click, right?
If you're to think about your
business, your business model
needs to be simplified
to just these few things.
Because I know how many people show up,
then the next thing that
I'll need to ask myself
is based on the amount
of people that show up,
what is my conversion rate
for the amount of people
that's in there.
The last piece is really your conversion.
There's always a conversion, right?
So whether a person lands on
your free plus shipping page,
whether they land on your website,
whether they land on your webinar,
whether they land on wherever,
there's always based out of 100 people
that listen and watch your sales video,
they listen to your webinar,
they read your sales page,
they attend an event,
there's always a conversion percentage.
Right now, I know based
on my past experiences,
my conversion on a bad
day would be about 10%.
And on a great day, if the
room is really qualified,
it could be about 25%.
Now for a price point that is
about 1,000, to about $3,000.
So depending on price point as well.
So based on these numbers,
you see, I can still rate forecast
even before running this live event
on how profitable it's going to be.
Maybe just what you need
to be doing as well.
So for example, if I spent 15
grand and I got 12,000 clicks,
okay, the first thing
I'm asking myself is,
this ad, which is basically your traffic
is this working well, right?
So chances are, because it cost me
about what 85 cents I'm bad at math,
but off the top of my head
this looks roughly like that.
So chances are it's not an ad issue
because this number works well.
The next thing I need to ask
myself is out of 12,000 people
850 people registered for this event.
Now I'm not good at math,
and this one is something
I'll definitely need
to use the calculator.
850 people registered,
well, two sessions 850 each,
so 1,700 People divided by 12,000 whoops,
oh crap, 12,764, right.
So this is a 13% registration rate.
So I need to ask myself is
13% registration rate good?
Well, it's not bad.
What do you think Marcus is 13%?
- Ah, it's a little low,
usually on good days
we can get a lot more cheaper clicks
and better conversions
on registrations, yeah.
- So yeah 13% could
have done higher right,
but this Coronavirus is
affecting everything really.
So the show up rate, you can
see it's also slightly lower,
it's about 30% ish.
So now, because I understand
the key metrics in my business,
I know where the weakest link is.
Now, most people whenever
they run ads, right,
and they have ad spend,
here's usually what happens.
You run an ad and the
method they deployed,
you know what it is?
It is the hope and pray method.
They hope that by spending this amount
somehow magically, they'll get more money
than what was initially spent.
But over here, we knew that
by spending this amount
exactly what the returns were going to be,
and let's just say sales, if
you notice from the B-rolls
and all that it was pretty amazing.
What does that mean?
You'll see that like, literally,
this event is close to
approximately 10X ROI.
And the reason why this
event today is about 10X ROI,
despite the lower show up rate
is because we know our key metrics,
and we had the confidence
and Marcus had the confidence
and the team that played
a role all these things
made it all happen, right?
Because I understand the key departments.
So Marcus takes care of this, right?
Making sure that we're
getting good, targeted clicks
that is within our KPI.
The team that is taking care
of this, the show up rate,
which is really the
phone calls, the emails,
the text to make sure
these are the key drivers
for this campaign.
Do you know what are your
key drivers in your campaign?
Now this part is up to me
depends on whether I'm doing a good job
if I totally bombed, which
I have not in a while.
Touch the wood, but this's not wood.
But anyway, so ultimately
this is up to me,
this is up to the events team,
this up to traffic team, right?
So I understand the key
drivers in your business,
in my business.
So the question you
got to ask yourself is,
whenever something breaks,
are you able to identify
each and every single
section because your business
can only move as fast
as your weakest link?
What will be the weakest
link for this event?
It will be in the show up rate.
If I show up rate was the usual
50% on an event like this,
we would have nearly double
how much we made in his event.
But literally this is behind the scenes
to how to run profitable ads.
You'll be able to understand
what your key drivers are,
and you'll be able to forecast beforehand
how profitable that campaign
would be before you even begin.
That's really the wrap of today's session.
I am gonna take over
here, let's start moving.
I think the team is,
this is Adry over here
who has been handling the camera.
And (laughing) that Yuan.
It's been a long day,
I hope you guys enjoyed
behind the scenes to
what it is that we do.
And remember, okay, the
takeaway here is not about,
it's not about live events,
even though you could totally apply it.
It is about understanding the
key metrics in your business
and understanding where
the weakest link is.
And as always, I hope you enjoyed this one
behind the scenes, let me
know in the comments below
what your biggest takeaway is,
what you've learned from this video
and as always, smash the Like button
it does help out with the
algorithm and click on Subscribe,
if, hey Alice what are you doing?
- What?
- Like YouTube wants to see this.
- (Alice spewing gibberish)
- (Alice spewing more gibberish)
- So what's the call to action?
Should they subscribe to the channel?
- Absolutely.
- All right, so subscribe to the channel
and we'll see you in the next video.
