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What is market research?

12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Market research is the systematic collection, analysis and interpretation of information about a particular market, industry or product or service. Market research can help companies develop new products and services by gathering information about consumer needs and wants. It can also help strengthen the company's competitiveness by providing information about the competitive landscape.
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How to establish your company as an industry leader

12/05/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Make sure your products and services are high quality and innovative. Don't just be one of many providers, but offer something unique that sets you apart from the competition.

2. Be open to changes in the industry and drive them. If you can respond to new trends and technologies before your competitors do, you can establish yourself as an industry leader.

3. Create a strong brand. Invest in effective marketing to promote your company and products. Make sure your brand is unique and memorable.

4. Create a network of professionals and experts in your industry to demonstrate your expertise and competence as an industry leader.

5. Think about how you can support your customers by offering additional services to meet their needs.

6. Build a strong relationship with your customers. Always be available to know and understand their needs.

7. Initiate continuous improvement in your business to enhance your customer experience.

8. Develop a unique company culture that impacts employees. This will allow you to realize your vision and create a unique company culture.

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How can I look more professional as a B2B service provider?

12/05/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Make sure your communication is professional and clear both verbally and in writing.

2. Be an expert in your industry and build your expertise.

3. Project a positive image of yourself and your company.

4. Deliver consistent and reliable services.

5. Build strong, professional relationships with your customers.

6. Be conscious of how you dress and always be well-groomed.

7. Use modern technology to enhance your communication and offerings.

8. Be attentive and responsive to customer inquiries.

9. Try to stand out from your competitors by offering unique services.

10. Follow up customer feedback and make sure you implement suggestions.

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How can I increase sales?

11/24/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Focus on customer service: Exceeding customer expectations with excellent customer service is an effective way to increase sales.

2. Offer discounts and promotions: Offering discounts and promotions is a great way to attract new customers and encourage repeat purchases.

3. Utilize digital marketing: Leverage digital marketing tools like SEO, social media, and email marketing to reach a larger audience and drive more sales.

4. Increase product visibility: Make sure your products are visible and easy to find. Utilize online marketplaces, social media, and other channels to increase product visibility and reach more potential customers.

5. Personalize your messaging: Personalize your messaging and tailor it to each customer’s needs to increase sales.

6. Optimize your website: Make sure your website is optimized for speed, search engine optimization, and usability.

7. Improve your product: Continuously improve your product or service offering to stay ahead of the competition and increase sales.

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Lead costs in B2B new customer acquisition - what costs should you expect?

11/04/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Per lead costs can range from several tens of euros to hundreds of euros due to the high competition in B2B online marketing and correspondingly high click prices, often in the mid-single-digit euro range.

You must take this into account when pricing and calculating the contribution margin.

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