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Should you offer your services to test customers at a lower price or for free in order to build up ratings and testimonials?

08/14/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are pros and cons to offering services at discounted or free rates to build testimonials and reviews.

On the one hand, discounted or free services can attract more potential customers who are willing to try your services and possibly provide positive reviews and testimonials. These reviews and testimonials can then, in turn, help you gain the trust of other potential customers.

On the flip side, however, discounted or free services may also cause customers to not adequately appreciate the quality of your services and thus may be less willing to pay full prices later. In addition, free services may also result in customers taking up your time and resources without adequately compensating you.

If you decide to offer discounted or free services to build reviews and testimonials, make sure you set clear terms and conditions to ensure customers have reasonable expectations and you are still compensated appropriately. In addition, it's important to make sure you treat your customers the same as paying customers to ensure your reviews and testimonials are fair and representative.

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People brands: How to position yourself as a brand

08/11/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

In today's world, it's more important than ever to position yourself as a brand. Especially for people who are in the public eye, such as artists, influencers or entrepreneurs, it is of great importance to build a strong personal brand. Here are some reasons why person brands are so important:

Differentiate yourself from competitors

A strong person brand helps you stand out from your competitors. There are many people who have similar talents or skills as you. When you build a strong person brand, you can ensure that you stand out from the competition and attract potential customers or fans to you.

Build trust

A strong persona brand can help build trust with your customers or fans. By positioning yourself as a brand, you can clearly communicate your values and beliefs, which will help you connect with your target audience. People buy from people they like and trust.

Add value

A strong personal brand can help increase your value. When you're known as a brand, you increase your chances of being noticed by the public, which can lead to more customers or fans. A strong personal brand can also help you charge higher prices for your services or products.

Career opportunities

A strong person brand can also help you create or expand career opportunities. When you are known as a brand, you increase your chances of being discovered and approached by companies or other influencers. A strong person brand can also help you be seen as an expert in your field.

How do I build a strong personal brand?

Building a strong person brand takes time, patience and hard work. Here are some steps you can take to build your person brand:

Define your goals and values: Think about what goals you want to achieve and what values are important to you. This information should be clearly communicated in your brand.

Create an engaging online presence: A strong online presence is essential to be perceived as a brand. Create a website or blog and use social media to spread your message.

Be authentic: A strong personal brand is based on authenticity. Be honest and open with your customers or fans and stick to your values and beliefs.

Build a community: A strong persona brand requires a loyal fan base. Use social media and other platforms to build a community and connect with your customers or fans.

Provide value: A strong personal brand provides value to its customers or fans. Think about how you can add value to your target audience through your services, products or content. Conclusion

A strong person brand can be of great importance to many people, especially those who are in the public eye. A well-built persona brand can help you stand out from the competition, build trust with customers or fans, and increase value. If you want to build a strong persona brand, you should define your goals and values, create an engaging online presence, be authentic, build a community, and provide value. With hard work, patience and a smart strategy, you can build a successful personal brand.

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What are no-go's in marketing?

08/10/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

No-go's in marketing are certain approaches or strategies that should generally be avoided because they can have a negative impact on a company's image. Here are some examples of no-go's in marketing:

Deception and Misleading: Consumers should not be deliberately deceived or misled. False claims about a product or service can undermine customer trust and lead to legal consequences.

Spamming: Mass mailing of unsolicited commercial messages, whether by email, text message or phone call, is an unprofessional and unethical marketing practice. It can damage relationships with potential customers and tarnish a company's reputation.

Inappropriate targeting: It is important to carefully analyze the target audience and develop appropriate marketing strategies. Inappropriate targeting based on prejudice or discrimination, for example, can lead to negative reactions and damage the company's image.

Inappropriate targeting can lead to negative reactions and damage the company's image.

Ignoring customer feedback: Customer feedback is valuable to companies because it provides insight into their needs, wants and complaints. Ignoring or dismissing customer feedback can make customers feel unheard or disrespected and turn away from a company.

Personal Data Breach: Inappropriate handling of customers' personal data, for example through unauthorized disclosure or insecure storage, can destroy customer trust. Companies should always comply with applicable data protection laws and ensure that customers' privacy is protected.

Failure to provide transparency: a lack of transparency can affect customer trust. Companies should clearly communicate what information they collect, how it is used, and the benefits or risks associated with a product or service.

This list is not exhaustive, but it provides an overview of some important no-go's in marketing. It is advisable to follow ethical principles and best practices for long-term successful and trustworthy marketing.

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What are no-go's in sales?

08/08/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

No-go's in sales are behaviors or practices that should be avoided because they can have a negative impact on the sales process and customer relationships. Here are some examples of no-go's in sales:

Aggressive Selling: Pressuring or aggressively persuading customers to buy a product or service can lead to negative reactions and damage customer trust:

Aggressive selling can lead to negative reactions and damage customer trust.

Unprofessional appearance: An ill-prepared, unprofessional demeanor can give the impression that you don't care about the customer's needs. This includes inappropriate language, poor choice of dress, or lack of knowledge about one's product or service.

Unprofessional appearance.

Inadequate product knowledge: Customers expect salespeople to have extensive knowledge about the products or services they offer. If sales staff cannot provide sufficient information or make false statements, this creates uncertainty and can lead to rejection.

Inadequate knowledge of the product or service offered.

Unreliability: Failure to meet commitments or deadlines, late deliveries or lack of communication with customers are no-go's in sales. Reliability is an important factor in building trust and long-term customer relationships.

Missing customer focus: a sales representative should be responsive to the customer's needs and requirements and provide customized solutions. If the focus is only on selling and there is no real customer focus, this will frustrate the customer and lead to rejection.

Poor communication: clear and effective communication is critical in sales. If a salesperson has difficulty articulating their thoughts clearly, listens poorly, or does not adequately address a customer's questions or concerns, it can lead to misunderstandings and affect trust.

These are the no-go's.

These no-go's should be avoided in order to succeed in sales and build good customer relationships. Instead, salespeople should focus on professionalism, customer orientation, reliability and clear communication.

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What is a no-go when starting a business?

08/07/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A startup "no-go" refers to an action, decision or condition that should generally be avoided because it has the potential to jeopardize the success or sustainable development of a business. Here are some examples of startup no-gos:

Inadequate market analysis:

If you don't have enough information about the market, the target group and the competitive situation, you run the risk of offering a product or service that does not have sufficient demand or is already saturated by other companies.

Inadequate financial planning: inadequate financial planning can result in not having enough capital to start the business or keep it going for the first few months or years. It is important to create a realistic budget and have adequate capital to cover unforeseen expenses.

Poor team management: an ineffective or inappropriate team can severely impact the success of a business. It's important to hire the right people with the right skills and attitude and create a collaborative and productive work environment.

Ignoring the legal framework: not paying attention to legal issues can lead to significant legal problems. It is important to be aware of all relevant laws and regulations, such as tax rules, business formation rules, labor laws, and intellectual property.

Failure to comply with legal requirements can lead to significant legal problems.

Failure to focus on customers: failing to pay sufficient attention to the needs and wants of customers can result in the company being uncompetitive. Customer feedback should be taken seriously in order to continuously improve products and services.

Missing flexibility: A lack of flexibility can lead to a lack of competitiveness.

Failure to be flexible: A rigid business plan or inability to adapt to changing market conditions can hinder the growth and development of the business. It is important to be flexible and ready to respond to change.

Neglect of marketing: even the best product or service will not be successful if people do not know about it. A poor marketing strategy or neglect of it can lead to low awareness, weak sales, and a lack of customer loyalty.

Marketing is the most important part of a business strategy.

It is important to note that the above items should not be considered absolute no-go's, but potential risk factors that should be avoided or minimized to maximize the chances of success when starting a business. Every business is unique, and there are no hard and fast rules that apply to all situations.

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