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Viral marketing and the network effect - What sheep have to do with it

12/04/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Viral marketing is a strategy designed to spread like wildfire. It refers to the spread of information through social networks, passing the information from person to person. The network effect occurs when someone recommends a product or service through word of mouth, so there is an exponential increase in awareness and popularity. Sheep are related to viral marketing and the network effect because they exemplify a natural network effect. When one sheep leaves the area, the other sheep will follow it because they have become familiar with the behavior of the first sheep. When the network effect is applied, it can have a powerful effect as customers are encouraged to recommend a product or service to others. This allows you to reach a large number of people that you would otherwise not be able to reach.
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How do I become successful as a founder?

12/01/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There is no single answer to the question of how to become a successful founder. However, there are some general guidelines that can help you.

1. Make your business visible. Invest in marketing by sending newsletters, being active on social media, covering your business in print and online media, attending trade shows and events, and expanding your network.

2. Develop a robust business model. Make sure you have a balance of costs and revenue. If you want your business to succeed in the long run, you need to have a solid financial knowledge.

3. Be an expert in your field. Get involved in the dialogue, share your knowledge and experience. This is a great way to make a name for yourself as a founder and build your brand.

4. Build the right team. A successful business is only as good as its employees. Invest in the right team to achieve success.

5. Be flexible. Successful founders are willing to change and adapt as the economy changes. Be willing to test new ideas and break new ground.

6. Achieve your goals. Set short- and long-term goals and work hard to achieve them. You can achieve big results by taking small steps.

Through hard work and a clear strategy, you can become successful as a founder. By following these tips, you can put your business on the path to success.

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Properly design and implement B2B sales funnels to maximize conversion rate

11/23/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Identify relevant target groups: Identify the right target groups that are best suited for your product or service. Define the key characteristics, personas and needs of your target audience. This step will help you choose the right approach for B2B sales.

2. Create a detailed marketing strategy: create a detailed marketing strategy that focuses on the defined target groups and is tailored to their needs. Define your core message and the channels on which you want to disseminate it.

3. Design a powerful B2B sales sequence: design a powerful sales sequence that allows easy navigation and helps your prospects navigate through the sales process. This sequence should clearly communicate the core message and provide an easy path to conversion.

4. Perform testing and optimization: Conduct regular testing and optimization of the sales process. Test different variations of your core message to see which works best. Also test different elements of your sales sequence to see how it affects conversion rates.

5. Evaluate and adjust the strategy: regularly evaluate the results and adjust the strategy if necessary. This is an ongoing process that can help you maximize the conversion rate and convert your leads.

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Ranking Marketing Studies - At which university can you study in Germany?

11/21/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are many universities and colleges in Germany where you can study marketing. Choosing the best university or college to study marketing often depends on personal interests, goals and location preferences. Here are some renowned educational institutions in Germany that offer degree programmes in marketing:

University of Cologne: The University of Cologne offers a Bachelor's degree programme in Business Administration (BWL) with a focus on marketing. At Master's level, there is also the "Marketing, CEMS Master's in International Management" programme, which is run in collaboration with other international business schools.

Ludwig-Maximilians-Universität München (LMU): LMU Munich offers a Bachelor's and Master's degree programme in Business Administration (BWL) with a specialisation in Marketing.

Free University of Berlin: The Free University of Berlin offers a bachelor's degree programme in economics with a focus on marketing and management.

University of Mannheim: The University of Mannheim offers a Bachelor's degree programme in Business Education with a focus on marketing. At Master's level, there is the "Management" degree programme, which also specialises in marketing.

University of Passau: The University of Passau offers a Bachelor's degree programme in Business Administration (BWL) with a specialisation in Marketing and Electronic Business. At Master's level, there is the "Marketing and Electronic Business" programme.

University of Hohenheim: The University of Hohenheim in Stuttgart offers a Bachelor's degree programme in Economics with a specialisation in Marketing and Communication Sciences. There is also a Master's degree programme in "Marketing and Business Development."

WHU - Otto Beisheim School of Management: WHU offers a Bachelor's degree programme in Business Administration with a focus on marketing. At Master's level, there are programmes such as "Master in Management" and "Master in Entrepreneurship", which also include marketing courses.

Pforzheim University: Pforzheim University offers Bachelor's and Master's degree programmes in International Marketing.

ESCP Business School: This business school has a campus in Berlin and offers programmes such as the "Master in Marketing and Creativity" and the "Master in Marketing & Digital Media"

Leuphana University of Lüneburg: There is a Bachelor's degree programme in Business Administration with a focus on Marketing & Business Development as well as a Master's degree programme in Marketing and Entrepreneurship.

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Social Media Marketing: How start-ups can use social media

11/17/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

In today's digital world, social media has become a key element in the marketing mix. Start-ups can benefit from the power of social media to build their brand, attract customers and increase sales. In this article, we will discuss how start-ups can use social media effectively.

Why is social media important for start-ups?

Reach and visibility: Social media provides a platform to reach a wide audience and increase the visibility of your start-up.

Customer loyalty: Through regular interactions, start-ups can build an engaged community and strengthen the bond with their customers.

Cost savings: Compared to traditional marketing methods, social media is often more cost-effective and offers excellent value for money.

Target audience targeting: Social media allows start-ups to target their audience and provide relevant content.

Strategies for successful social media marketing for start-ups:

Platform selection: Identify the best platforms for your start-up and your target group. Choosing the right platforms, be it Facebook, Instagram, LinkedIn, Twitter or others, is crucial.

Consistent presence: Maintain a regular and consistent presence on the selected platforms. Update your profiles, share relevant content and interact with your followers.

High-quality content: Create engaging and relevant content that speaks to the needs and interests of your target audience. This can be blog posts, images, videos or infographics.

Interaction and engagement: Respond to comments, messages and feedback from your followers. Active interaction promotes engagement and strengthens the relationship with your community.

Paid advertising: Use paid advertising on social media to increase your reach and address specific target groups.

Monitoring and analysis: Use analytics tools to monitor the performance of your social media activities. Adjust your strategy based on the results.

Examples of success in social media marketing:

Airbnb: Airbnb uses social media to share inspiring travel stories and photos of hosts and travellers. This encourages engagement and strengthens the community.

Casper: Mattress brand Casper uses social media to share informative and entertaining content around sleep. This helps to showcase their expertise and build customer loyalty.

Social media is a powerful tool for start-ups to attract customers and build their brand. By choosing the right platforms, providing high-quality content and actively engaging with the community, start-ups can build a strong social media presence and grow successfully.

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