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Performance optimization for online stores - this is how it's done

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

Online stores need to provide fast loading time and good user experience to be successful. Here are some performance optimization tips for online stores:

Use a fast hosting provider: choose a hosting provider that offers fast servers, enough disk space and bandwidth to ensure fast loading time.

Optimizing images: Images can significantly slow down the loading time of a page. Make sure images are optimized at the right size and resolution for use on your site. Also, use compressed image formats such as JPEG and PNG.

Minimize file size: minimize the file size of CSS, JavaScript, and HTML files to reduce page load time.

Use caching technologies: Caching is a method of storing frequently used data on the server to reduce the number of database queries. Using caching technologies can help reduce page load time.

Implementing lazy loading: lazy loading is a technique in which images and other content are loaded only when they are needed by the user. This reduces the page loading time.

Checkout page optimization: make sure the checkout process is quick and easy. Remove unnecessary steps and forms to increase the conversion rate.

Implement content delivery networks (CDNs): A CDN is a network of servers that stores a copy of your website in various locations around the world. By using CDNs, users can access your website faster because they can load a copy of the website near their location.

Use HTTPS: HTTPS is an encrypted protocol that creates a secure connection between the user's browser and your server. Using HTTPS is important to ensure the security of your website and user trust.

By implementing these steps, you can improve the performance of your online store and optimize the user experience for your customers.

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What is Social Proof?

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

Social proof refers to the psychological tendency of people to interpret the behavior of others as an indication of what is right or appropriate, especially in situations where we feel uncertain or indecisive. It is a type of social influence in which people observe the behavior of others and adjust their own actions or decisions to follow what is considered "normal" or "acceptable" behavior.

Social proof can come in a variety of forms, such as:

Expert ratings: When an expert in a particular field recommends a product or service, people tend to follow that advice.

Customer reviews: When other customers give a product or service a positive review, it can encourage others to buy the product or service as well.

Popularity: If many people use or buy a product or service, this can be seen as an indication that it is of high quality or offers high value.

Social validation: When people see others change their behavior or make certain choices, it can encourage them to do the same to belong to a group or to be accepted as part of a community.

Social proof can be a very effective marketing tool because it can lead people to make decisions based on the behavior or beliefs of others rather than on rational arguments or facts.

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ChatGPT and sales texts: How AI text generation improves the sales process

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

The development of artificial intelligence has the potential to transform the way we create and consume content. Chatbots and AI text generators like ChatGPT are already in use in many industries and can also offer significant advantages in the sales area.

Sales copy is an important part of the sales process that is often overlooked. But a compelling description of the product or service can mean the difference between a successful sale and a lost customer. In this context, ChatGPT can be used as a powerful tool to generate sales texts.

How does ChatGPT work?

ChatGPT is an OpenAI based text generation technology that works with deep neural networks. It uses pattern recognition to analyze and reproduce natural human speech. It can learn from a variety of sources, absorbing and reflecting a wide range of knowledge.

For example, ChatGPT can be trained on a large set of product descriptions to get an idea of how sales text should be structured. Based on this knowledge, ChatGPT can then generate sales copy specifically tailored to the product or service being advertised.

Benefits of ChatGPT for sales texts

ChatGPT has several advantages over traditional sales text creation methods:

Efficiency: ChatGPT can generate sales texts in no time. This means companies can save time and resources by freeing human labor for other tasks.

Personalization: ChatGPT can generate very specific and personalized sales texts based on the available data. This means companies are able to better target their customers and better meet their needs.

Consistency: ChatGPT generates sales texts that are consistent and uniform. This is especially important when it comes to establishing a brand and conveying a consistent message.

Flexibility: ChatGPT can be trained on a variety of sources and data materials. Businesses can therefore ensure that ChatGPT is specifically tailored to their needs.

Conclusion

ChatGPT can be a valuable addition to the online marketing toolkit. Especially in the area of sales texts, ChatGPT can help companies to work more efficiently, more personalized and more consistently. However, it is important to emphasize that ChatGPT should not be seen as a substitute for human creativity and intuition, but as a tool. Overall, however, it is important that ChatGPT is understood as a tool and not as a substitute for human creativity and empathy in the sales process.

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What is a good or a typical or average conversion rate?

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

The conversion rate (CR) varies depending on the industry, the target group, the type of offer and the marketing and sales tactics used. There is no set "good" or "typical" conversion rate, as it is highly dependent on specific circumstances.

Some industries tend to have higher conversion rates than others. For example, e-commerce sites that offer high-value products may have a higher conversion rate than sites that offer complex services. An average value for a good conversion rate is between 2% and 5%.

However, it is important to note that a higher conversion rate is not always better. A high conversion rate can mean that the target audience responds very well to the offer, but it can also mean that the price is too low or that the marketing is not driving enough traffic to the website. Therefore, the conversion rate should always be considered in the context of other metrics such as traffic, customer acquisition, and revenue to get a full understanding of performance.

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What are typical mistakes in B2B customer acquisition?

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

When it comes to B2B customer acquisition, there are several mistakes that companies often make. Here are some typical mistakes:

Lack of target audience analysis: if you don't know exactly who your target audience is, you can't develop an effective acquisition strategy. A lack of target audience analysis often leads to you spending time and money on the wrong marketing channels and wasting your resources.

Too low lead quality: if you only focus on quick leads and don't qualify them well enough, this can lead to a low conversion rate. Take time to understand your prospects' needs so you can make sure you can actually help them.

Incorrect focus on sales pitches: When you focus solely on sales pitches during B2B customer acquisition, it can turn off potential customers. Instead, focus on how you can help customers solve their problems.

Poor follow-up strategy: if you don't keep in touch with potential customers, it can lead to a loss of the leads you've already acquired. Have a clear follow-up strategy to ensure that potential customers are not forgotten and stay in your mind.

Not enough patience: B2B customer acquisition requires patience and perseverance. It may take time before you see results, so it's important not to give up and keep at it.

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