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How can you measure the impact of PR on sales success?

11/14/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Measuring the impact of public relations (PR) on sales success can be a complex task, as PR can have an indirect impact on sales. However, there are some approaches and metrics that can help you understand the relationship between PR and sales success. Here are some ways you can measure the impact of PR on sales success:

Sales data analysis: review your sales data before and after specific PR efforts to see if there is a significant change. Analyze revenue, sales volume, profit or other relevant sales metrics. Compare the data to the timing of PR activities to identify potential correlations.

Customer Surveys: Conduct surveys of your customers to find out how they heard about your PR efforts and to what extent they influenced their buying behavior. Ask specific questions about PR channels such as press coverage, social media presence or influencer marketing. Analyze the responses to determine if there is a link between PR and the purchase decision process.

Media coverage: Measure the amount and quality of media coverage about your company or products. Track the number of press releases, articles, features or interviews that appear in relevant media. Evaluate the positive or negative tone of the coverage and analyze how it impacts sales success.

Website analytics: monitor traffic to your website and analyze the sources of traffic. Use tools like Google Analytics to determine if there is an increase in visitor traffic related to specific PR efforts. Also examine user behavior on the site, such as page views, dwell time, or conversions, to understand the impact of PR on online sales success.

Sales promotion codes or tracking links: Use specific codes or tracking links in PR materials or campaigns to track the impact on sales. By tracking the use of these codes or links, you can determine how many sales are directly or indirectly attributable to PR activity.

It is important to note that the impact of PR on sales success is often influenced by many other factors, such as marketing, product quality, competitive environment, etc. Therefore, a comprehensive analysis takes into account all relevant factors in order to obtain a meaningful assessment of PR's influence on sales success.

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Study communication sciences: What is taught?

11/14/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Communication studies is an up-and-coming and diverse field of study that deals with analysing and researching communication processes in our society. In a world permeated by information and media, communication plays a crucial role. But what exactly is taught on a communication studies degree programme? This article provides an insight into the diverse topics and skills that students learn in this subject.

The basics of communication

Studying communication studies often begins with an introduction to the basics of communication theory. Here, students learn how information is transmitted, received and interpreted via various media and platforms. This also includes the study of verbal and non-verbal communication processes as well as the role of culture and society in communication.

Media and mass communication

A significant part of the Communication Studies degree programme deals with media and mass communication. Students research the development and functioning of media, from traditional newspapers and broadcasting to modern digital platforms. This also includes analysing media content, media ethics and media policy.

Public relations and public relations

Another important focus is public relations (PR) and public relations work. Students learn how organisations develop effective communication strategies to convey their messages to the public and maintain their image. This can include crisis communication, social media management and stakeholder relations.

Journalism and reporting

Communication studies also offer insights into journalism and reporting. Students are introduced to news writing, the journalistic code of ethics and the role of the media in society. With the advance of digitalisation and the diversity of media channels, the journalistic craft is now more versatile than ever.

Research methods and techniques

Research methods and techniques are an essential part of the Communication Studies degree programme. Students learn how to collect, analyse and interpret qualitative and quantitative data in order to gain insights into communication processes. This enables them to ask critical questions and make informed decisions.

Specialisations and practical experience

In addition, students often have the opportunity to specialise in specific areas of communication studies, such as intercultural communication, political communication or health communication. Internships and practical experience in companies or media organisations are also important components of the course in order to put the knowledge acquired into practice.

The Communication Studies degree programme teaches a wide range of skills that are in demand in a modern, information-rich world. Graduates of this subject are able to tackle complex communication challenges, develop effective messages and understand the impact of media and communication on society. This versatile field of study opens doors to careers in journalism, PR, media management, marketing, corporate communications and more. It remains an important discipline for understanding and shaping the ever-changing world of communication.

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Why you will fail in 2024 without regular media exposure

11/14/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
By 2024, the digital world will be completely dominated. If you don't have a regular presence on social media, it will be difficult to reach a wide audience. With less social media presence, it will be harder to attract and retain customers, which can lead to poor sales. Therefore, it is important that you make an effort to build a regular social media presence to be successful in 2024.
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Evaluation criteria for selecting agencies and service providers: A template

11/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Choosing the right agency or service provider is crucial for companies to achieve their goals and grow successfully. Whether it's marketing, IT services, recruitment or other business areas, choosing the right partner can have a significant impact on a company's success. To ensure that this decision is well thought out, an evaluation criteria or scheme is essential.

1. Business goals and needs

Before you start selecting agencies or service providers, you need to clearly define your own business goals and needs. What goals do you want to achieve? What challenges need to be overcome? This information is crucial in order to select the right agency or service provider that can fulfil your specific requirements.

2. Experience and expertise

Experience and expertise are key evaluation criteria. Investigate the agency or service provider's history, references and projects. Do they offer experience and expertise in your specific field? A solid track record is an indication that the agency or service provider is able to fulfil your requirements.

3. Reputation and recommendations

A good reputation is invaluable. Look for reviews and recommendations from other companies that have worked with the agency or service provider. This can give you an indication of how reliable and professional they are.

4. Budget and costs

Your budget is an important factor when selecting agencies or service providers. Clarify financial expectations from the outset and make sure they fit within your budget. However, don't just consider the cost, but also the value you get for your money.

5. Communication and collaboration

The ability to communicate and collaborate effectively is crucial. Make sure the agency or service provider can fulfil your expectations in terms of communication and cooperation. Open and clear communication is key to the success of a partnership

6. Flexibility and adaptability

The business world is constantly changing, and your partner should be able to adapt. Make sure the agency or service provider is flexible and ready to adapt to changes and new requirements

7. Compliance and ethics

Make sure the agency or service provider complies with all applicable laws and regulations and upholds ethical standards. Avoid potential legal and ethical issues by conducting a thorough review.

8. Contract terms and service level agreements (SLAs)

Carefully drafted contract terms and SLAs are essential to clearly define the expectations and obligations of both parties. Make sure that all agreements are recorded in writing.

Conclusion

Choosing the right agency or service provider requires careful consideration and research. Use this evaluation criteria or scheme as a guide to ensure your decision is based on a solid foundation. Thoroughly analysing these factors can help ensure a successful partnership and achieve your company's goals.

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The role of entrepreneurship in starting a business

11/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The entrepreneurial spirit is a key factor in the foundation and success of a company. It embodies the ability to recognise opportunities, take risks and find creative solutions to problems. In this article, we will shed light on the crucial role of entrepreneurship in starting a business and how it influences the path to entrepreneurial success.

What is entrepreneurial spirit?

The entrepreneurial spirit is a mindset that encompasses a willingness to be independent, to create innovation and to take risks. It is characterised by determination, creativity and a strong desire to create or improve something new. The entrepreneurial spirit is characterised by the ability to see challenges as opportunities and to take the initiative.

The role of entrepreneurship in starting a business:

Opportunity recognition: Entrepreneurs are able to identify market opportunities that may be overlooked by others. They see potential and trends that can serve as the basis for business ideas.

Creativity and innovation: The entrepreneurial spirit fosters creativity and the ability to develop innovative solutions to existing problems or needs. Start-ups that focus on innovation often have a competitive advantage.

Willingness to take risks: Starting a business involves risks, and the entrepreneurial spirit enables people to take these risks and overcome challenges. It requires the courage to venture into the unknown.

Determination and perseverance: the world of starting a business is not always easy. The entrepreneurial spirit helps to overcome obstacles and focus on long-term goals, even when there are setbacks.

Examples of entrepreneurial spirit in practice:

Steve Jobs (Apple): Steve Jobs was an outstanding example of entrepreneurial spirit. He recognised the potential of personal computers and developed innovative products such as the Macintosh and the iPhone.

Elon Musk (SpaceX, Tesla): Elon Musk is known for his entrepreneurial spirit in the field of space travel and electromobility. He set himself ambitious goals and pursued them with determination.

How can you develop an entrepreneurial spirit?

The entrepreneurial spirit can be developed by encouraging your own curiosity, creativity and willingness to take risks. This can be achieved through education, experience and collaboration with other entrepreneurs. Networking, studying successful entrepreneurs and participating in entrepreneurial activities are also helpful steps.

All in all, the entrepreneurial spirit is a decisive factor for the foundation and success of a company. It enables people to recognise opportunities, drive innovation and overcome obstacles. By fostering entrepreneurship, we can promote the growth of start-ups and economic development as a whole.

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