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Customer loyalty - How to avoid that your customers "defect" to the competition

03/10/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Offer attractive discounts and offers on a regular basis.

2. Provide excellent customer service to your customers.

3. Make sure that your product or service meets the requirements of your customers.

4. Keep your customers informed about new developments and products.

5. Familiarize your customers with new technologies and features.

6. Encourage your customers to share your business with others.

7. Build a community that allows your customers to communicate and share ideas.

8. Allow customers to submit feedback on your product or service on an ongoing basis.

9. Provide an easy and convenient way for your customers to contact you.

10. Take steps to provide a unique experience for your customers.

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How publishers and authors get media visibility for their books and new releases

03/10/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Here are some tips on how publishers and authors can get media visibility for their books and new releases:

Create a list of relevant media: identify relevant media that may be interested in your books or new releases. This includes local and regional newspapers, magazines, radio stations, and television stations.

Write a press release: write a press release that includes key information about your book or new release. Make sure your press release conveys a clear and concise message and is tailored to the interests of your target audience.

Use your contacts: Use your contacts to forward your press release to relevant media outlets. Relationships with journalists and editors can help you get your press release into the right hands.

Offer expert knowledge: Offer your expert knowledge to the media. If your books or new releases are relevant to a particular topic or area, you may be seen as an expert or authority in that field.

Host a book event: host a book event such as a reading, book launch or book signing to attract media attention. Invite local media and promote the event in advance.

Use social media: Use social media to promote your books or new releases and draw attention to your press release. Use hashtags to categorize and share your posts.

Offer review copies: Offer review copies to relevant media outlets, book bloggers and influencers. A positive review can help build interest in your book.

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How can I promote my e-book?

03/10/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Promoting an e-book can be a challenging task, but here are some effective strategies that can help you promote your e-book:

Leverage social media platforms: Social media is an excellent tool to promote your e-book. You can share your e-book on your social media channels and create paid advertisements to target your audience. Platforms like Facebook, Twitter, and Instagram are great places to start.

Offer a free chapter or excerpt: You can offer a free chapter or excerpt of your e-book to attract readers. This will give them a taste of what they can expect from the full book and encourage them to purchase it.

Reach out to book bloggers and reviewers: Book bloggers and reviewers can be a great way to get your book in front of a new audience. You can reach out to them and offer a free copy of your e-book in exchange for an honest review.

Use email marketing: Email marketing is an effective way to reach your target audience. You can create an email list and send newsletters to your subscribers about your e-book.

Collaborate with other authors: Collaborating with other authors in your niche can help you reach a wider audience. You can co-author a book, guest post on each other's blogs, or cross-promote your e-books.

Create a website: A website can be a great platform to promote your e-book. You can create a landing page specifically for your e-book and use it to promote it.

Run a contest: You can run a contest on social media or your website where readers can win a free copy of your e-book. This can generate buzz and encourage readers to purchase your e-book.

By using these strategies, you can effectively promote your e-book and reach your target audience.

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How to find customers for your products and services

03/09/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are several ways to find potential customers for your products and services. Here are some steps you can take:

Define your target audience: Identify your potential audience by considering demographic and psychographic characteristics. Who are your ideal customers? What problems do they have that your products or services can solve?

Create a marketing strategy: Determine which marketing channels you want to use to reach your target audience. This can include, for example, social media marketing, email marketing, search engine marketing (SEO and SEA) or influencer marketing.

Use social media: Use social networks such as Facebook, Twitter, LinkedIn or Instagram to reach your target group and draw attention to your company. Create a company page and post interesting content regularly.

Offer Free Trials or Trials: When you launch a new product or service, offer free trials or trials to attract potential customers.

Publish customer reviews: Publish customer reviews on your website and social networks. Positive reviews can convince potential customers to try your products or services.

Network: Attend industry events and connect with other companies.

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BWA - How to create a business management report

03/09/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A business management analysis (BWA) is an important tool for assessing the economic situation of a company. A BWA provides information about the current operating income and expenses, the financial situation and the profitability of the company.

Here are the steps to create a BWA:

Data collection: gather all relevant data such as sales, costs, expenses, payments, loans and other financial data.

Selecting the BWA form: There are several types of BWAs, including basic BWA and advanced BWA. The choice depends on the complexity of the business.

Calculation of key figures: Calculate key ratios such as gross profit, net profit, operating profit margin, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), liquidity ratio, and equity ratio.

Interpretation of Results: Interpret BWA results to understand the company's financial position. Identify weaknesses and opportunities and derive appropriate actions.

Reporting: prepare a report on the results of the BWA. This report should be easy to understand, clearly laid out, and include key findings and recommendations.

It is advisable to prepare a BWA on a regular basis in order to keep an eye on the economic situation of the company and to take measures for improvement if necessary.

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