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Book tip: Thinking, Fast and Slow

12/22/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Thinking, Fast and Slow is a popular non-fiction book by Nobel Prize winner Daniel Kahneman that deals with human decision making. It describes two systems of thinking: the intuitive (fast) and the rational (slow). The book describes how these two systems influence our behavior and how one tends, consciously or unconsciously, to use one system more than the other. It provides a structured introduction to psychological research that enables readers to better understand their own behavior and that of others. It is an instructive work that will be of interest to psychologists and non-psychologists alike.
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Best Sales Strategies for B2B Vendors & SaaS Software Companies 2023

12/21/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Invest in content marketing: Content marketing is one of the most effective ways to attract new customers, retain existing customers and strengthen your B2B marketing. Create expensive content to reach your market and optimize the content for search engine optimization (SEO).

2. Build a strong network: Networking is an essential part of B2B sales. Build strong relationships with your customers to generate more sales. Go to industry events, attend trade shows, and participate in webinars.

3. Leverage the power of social media: social media is a powerful tool to get your brand known and attract new customers. Build a solid presence on all major social media platforms and take advantage of the opportunities they offer.

4. Use referral marketing: referral marketing is one of the most effective B2B sales strategies. Ask your existing customers to recommend your company and offer them incentives to do so.

5. Appear professional: a professional appearance is crucial to increase your B2B sales. Invest in a professional logo, website and other marketing materials that represent your brand.

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Product development based on market research results

12/21/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Product development is a crucial step for companies to bring competitive products to market. However, successful product development requires more than just creativity and technology - it needs to be based on solid insights. In this article, we will explain how companies can use market research findings to develop innovative and customer-centric products.

Why is market research important for product development?

Customer centricity: Market research helps companies to understand the needs, preferences and problems of their target group. This enables customer-centric product development.

Risk minimization: By analysing market research results, companies can minimize risks by ensuring that their products actually have a demand on the market.

Competitive advantage: Companies that use market research can differentiate themselves from the competition by developing products that are better tailored to customer needs.

Steps for product development based on market research:

Market analysis: Identify the market into which your product is to be launched. Examine the competitive landscape, market trends and potential.

Target group analysis: Segment your target group and analyze their needs, behaviors and preferences.

Needs assessment: Conduct surveys, interviews and focus groups to identify the needs and pain points of your target group.

Idea development: Generate ideas for products or product improvements based on the collected market research results.

Prototype development: Create prototypes or models of your products to test their functionality and usability.

Tests and feedback: Carry out product tests to obtain feedback from potential customers. Take this feedback into account for further improvements.

Success stories through product development based on market research:

Apple iPhone: Apple has based the success of the iPhone to a large extent on extensive market research. The analysis of customer needs and preferences led to the development of a revolutionary smartphone.

Amazon Echo: Amazon used market research to identify the need for voice-controlled assistants and smart speakers. This led to the development of products such as the Amazon Echo.

Market research is the key to successful product development. It helps companies understand the needs of their target audience, develop products that meet those needs and gain a competitive advantage. Companies that base their product development on solid market research findings are better positioned to succeed in the market.

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How to generate leads with little budget in 2024

12/21/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Use social media to promote your brand and reach your target audience.

2. Create campaigns on social networks to generate leads.

3. Create a landing page where you can offer information about your product or services to potential customers.

4. Place ads and placements on social media that are tailored to your target audience and generate leads.

5. Create incentives for potential customers to get them to sign up for your business.

6. Build a network by establishing and maintaining contacts with potential customers.

7. Run an email marketing campaign to generate leads and promote your brand.

8. Use SEO techniques to be found better in search engines.

9. Offer a free trial of your product/service to generate leads.

10. Make use of affiliate marketing to generate more leads.

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Long-term investments - Why investing in your own education has the highest ROI

12/21/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Investing in your own education is one of the best investments you can make. When you invest in your own education, you get more than just a financial return. You also get the opportunity to expand your knowledge horizons, gain access to new career opportunities, and improve your skills.

One important reason why investing in your own education yields such a high return is that investing in your knowledge and skills is sustainable at work and in life. When you invest in your own education, you are investing in yourself and your future. This can help you develop the skills you need to be successful in your career, be financially secure, and live a more fulfilling and fulfilling life.

Another thing that makes investing in your own education so valuable is that it is a long-term investment. When you invest in your own education, you can look forward to a life of financial security and fulfillment. You'll be able to feel confident about earning a higher income while being able to forge your own path.

Finally, investing in your own education can also help you learn new skills and expand your knowledge. This can help you improve at your job and find new, innovative ways to achieve your goals.

In today's world, investing in your own education is a must in order to have a career and be financially secure. When you invest in your own education, you get a long-term investment that will more than pay for itself.

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