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What is a communication concept?

03/02/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A communication concept is a strategic plan or framework that outlines how an organization will communicate with its target audience. It includes the organization's key messages, communication goals, target audience, and communication channels to be used.

The communication concept is developed based on a thorough analysis of the organization's internal and external communication environment, taking into account the needs and interests of its stakeholders. The concept is then used as a guideline for all communication activities to ensure that they are aligned with the organization's overall communication strategy.

A communication concept typically includes the following elements:

Communication goals: The specific outcomes that the organization wants to achieve through its communication activities.

Target audience: The specific group or groups of people that the organization wants to reach and communicate with.

Key messages: The main ideas or themes that the organization wants to convey to its target audience.

Communication channels: The specific methods or platforms that the organization will use to communicate its messages to its target audience.

Evaluation: The process of measuring the effectiveness of the communication activities and making adjustments as necessary.

Overall, a communication concept is a valuable tool for ensuring that an organization's communication activities are purposeful, effective, and aligned with its overall goals and objectives.

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Acquisition costs in B2B - What does a new customer cost?

03/02/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

In the world of business-to-business (B2B) sales, customer acquisition is a crucial part of any successful marketing strategy. But how much does it actually cost to acquire a new customer? This is a question that many businesses struggle to answer, yet it is essential to understanding the ROI of your marketing efforts and determining the appropriate budget for future campaigns.

Acquisition costs refer to the total expenses incurred to acquire a new customer. These costs include all marketing and sales expenses associated with generating leads, nurturing prospects, and closing sales. Some of the most common acquisition costs in B2B sales include:

Advertising costs: This includes the cost of paid search ads, display ads, social media ads, and other online advertising campaigns.

Content creation costs: This includes the cost of creating content such as blog posts, ebooks, whitepapers, and other educational materials that are used to generate leads and nurture prospects.

Sales and marketing salaries: This includes the salaries of your sales and marketing teams, including any bonuses or commissions they receive for closing sales.

Technology costs: This includes the cost of any technology platforms used for marketing automation, customer relationship management (CRM), and other sales and marketing tools.

To calculate the acquisition cost of a new customer, you need to add up all of these expenses and divide them by the number of new customers acquired during a given period.

For example, if you spent $100,000 on advertising, content creation, sales and marketing salaries, and technology costs, and you acquired 50 new customers during that period, your acquisition cost per customer would be $2,000.

Understanding your acquisition costs is critical because it allows you to determine the ROI of your marketing and sales efforts. If your acquisition costs are higher than the lifetime value of a customer, then you are not generating a positive ROI and need to make adjustments to your marketing strategy. On the other hand, if your acquisition costs are lower than the lifetime value of a customer, then you are generating a positive ROI and can allocate more resources to marketing and sales efforts.

In conclusion, understanding your acquisition costs in B2B sales is essential to running a successful marketing and sales strategy. By tracking your acquisition costs and making adjustments to your marketing and sales efforts, you can ensure that you are generating a positive ROI and achieving your business goals.

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What are typical projects/applications with Python?

03/02/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Python is a versatile programming language that can be used in a wide variety of projects and applications. Here are some typical applications of Python:

Data Science and Machine Learning: Python is one of the most widely used programming languages for Data Science and Machine Learning. Python libraries such as NumPy, Pandas, Matplotlib, and Scikit-learn allow data analysts and scientists to collect, clean, analyze, and visualize data.

Web development: Python is often used for web application development. With web frameworks like Django and Flask, developers can quickly and easily build robust and scalable web applications.

Automation: Python is a powerful tool for automating tasks and workflows. With Python, developers can write scripts to automate repetitive tasks such as file modification, data migration, data analysis, and more.

Game development: Python is also increasingly used for game development. With libraries like Pygame and Arcade, developers can create 2D games.

IoT and hardware projects: Python can also be used to develop IoT and hardware projects. With libraries like RPi.GPIO and Adafruit, developers can write Python scripts to control hardware devices like Raspberry Pi or Arduino.

Desktop and GUI applications: Python can also be used to develop desktop applications and GUI applications. Using libraries like Tkinter, developers can write Python scripts to create user-friendly applications with a graphical user interface.

Overall, there is a wide range of projects and applications that Python can be used for, making it one of the most versatile programming languages.

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Why most burn money in online marketing

03/02/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are several reasons why many people lose money in online marketing. Here are some possible factors:

Insufficient knowledge and experience: many people start an online marketing business without having sufficient knowledge and experience in the field. For example, they may focus on a particular strategy or technique without understanding how it can be integrated into a broader marketing plan.

Lack of clear goals and strategies: another reason why many people lose money in online marketing is that they do not have clear goals and strategies. They may start without an elaborate plan and hope that things will take care of themselves.

Competition: competition in online marketing is often fierce and it can be difficult to stand out. If a business is not able to differentiate itself from the competition, it can be difficult to attract customers and be successful in the long run.

Poor targeting: Another common mistake in online marketing is that companies don't know their target audience well enough or target the wrong audience. For example, if a company offers products or services that are not relevant or interesting to a particular target group, it will have difficulty attracting customers.

Lack of measurability and optimization: In online marketing, it is important to measure and constantly optimize results. If a business is unable to measure and optimize its campaigns, it will struggle to improve its effectiveness and save money.

These factors can cause businesses to lose money in online marketing. It is important to consider these factors and develop a clear strategy to be successful in online marketing.

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Creating a sales-boosting landing page - This is what really matters

03/02/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A landing page is a special page on a website that is specifically designed to encourage a particular action from visitors, such as buying a product or filling out a registration form. A sales-boosting landing page is critical to the success of an online business. But what does it really take to create a landing page that actually generates sales?

Clear and understandable message

The message of a landing page must be clear and understandable. The visitor needs to understand what the offer is and how it will benefit them in just a few seconds. Using headlines, subheads, and bullet points can help convey the message clearly and concisely.

Compelling benefits

It's important to describe not only the product or service on the landing page, but also the benefits the customer will receive from it. These should be presented as clearly and concisely as possible. Visualizations such as images and videos can help to make the benefits vivid.

Call-to-action

A call-to-action is the button or link that prompts the visitor to perform an action. It should be prominently placed and clearly worded. Clear instructions on how the visitor should proceed are also important to avoid confusion.

Responsive Design

A landing page needs to look and function well on all devices, especially smartphones and tablets. Therefore, the design should be responsive and automatically adjust to the screen size.

Social Proof

Social proof, such as customer reviews or testimonials, can help build a visitor's trust and encourage them to take an action. Therefore, it is important to include these elements on the landing page.

Test and optimize

A landing page is never perfect. It is important to test and optimize different versions to improve the conversion rate. Elements like the headline, the call-to-action or the design can be tested.

Overall, a landing page that sells is crucial to the success of an online business. A clear and understandable message, compelling benefits, a clear call-to-action, a responsive design, social proof and continuous testing and optimization can create a landing page that actually generates sales.

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