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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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Offline Marketing - Everything you need to know

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

In a world that is becoming more and more digital, it sometimes seems as if offline marketing measures are becoming less important. But that is a fallacy. Especially in times of information overload, advertising messages that are perceived offline can often achieve greater attention and impact than digital ads or social media posts. In this article we would like to introduce you to some proven offline marketing measures that are still relevant today.

Meetings and events

Shows and events are a great way to raise awareness of your brand and encourage customer loyalty. Whether it's an opening ceremony, a product launch or a networking event, such events create an emotional bond with your company and your products. You also have the opportunity to get to know potential customers personally and thus receive direct feedback.

Print advertising

Print advertising is still an effective way to reach your target audience. Whether it's ads in magazines or newspapers, flyers or posters, print advertising can achieve a high recognition value. However, make sure that your advertising is eye-catching and creative in order to stand out from the mass of print advertising.

Direct marketing

Direct marketing is a form of marketing where you address your target audience directly. You can use mailings or personal letters, for example. A personalized approach can be particularly effective here. However, you should make sure that your advertising is not perceived as spam.

Outdoor advertising

Outdoor advertising can come in many different forms, for example in the form of posters, advertising banners or vehicle lettering. Especially in cities, outdoor advertising can achieve a high reach and quickly attract attention. However, make sure that your advertising is not too intrusive and that it blends harmoniously into the cityscape.

Guerilla marketing

Guerrilla marketing refers to unconventional and creative marketing measures that can often be implemented with a small budget. The aim here is to attract attention and arouse the interest of the target group through unexpected and surprising actions. A creative and original idea can often attract more attention than a classic advertisement.

Conclusion:

Offline marketing measures are still an important part of the marketing strategy of many companies. Events, print advertising, direct marketing, outdoor advertising and guerrilla marketing still offer many opportunities today to attract the attention of potential customers and to make your brand better known. However, you should make sure that your offline marketing measures are well thought out and used in a targeted manner in order to achieve the greatest possible success.

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Targeting in Google Ads - How to reach potential customers in a targeted way

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

Targeting is one of the most important strategies in Google Ads to target your ads to the right audiences. It allows you to display your ads only to users who are most likely to be interested in your products or services. In this article, you will learn how to perform effective targeting for your Google Ads campaigns.

Keyword targeting

Keyword targeting is the most commonly used targeting method in Google Ads. It involves selecting keywords that are relevant to your target audience and placing your ads in the search results for those keywords. You can use specific keywords to pinpoint exactly what users are searching for, or use more general keywords to reach a broader audience.

Location targeting

Location targeting allows you to target your ads to users in specific geographic areas. This is especially useful for local businesses or businesses that only operate in certain regions. You can narrow your location targeting to countries, regions, states, or even cities and zip codes.

Demographic targeting

Demographic targeting allows you to target your ads to users with specific demographic characteristics, such as age, gender, marital status, or education level. This method is particularly suitable for companies that sell their products or services to specific target groups.

Interest targeting

Interest targeting allows you to target your ads to users who have certain interests and behaviors. Google analyzes user behavior to determine their interests and preferences and can deliver relevant ads based on that. This method works well for businesses that want to target a broader audience.

Remarketing targeting

Remarketing targeting allows you to target ads to users who have already been to your website. This method uses cookies to identify users who have visited your website and shows them targeted ads based on their previous interactions. This is especially effective for increasing conversions from users who have already shown interest in your products or services.

Conclusion

A targeted targeting strategy is crucial to the success of your Google Ads campaigns. It is important to choose the right targeting methods to ensure that your ads are directed to the right audiences. With an effective targeting strategy, you can reduce your marketing costs and increase your conversion rates by presenting ads only to users who are most likely to be interested in your products or services.

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Online Marketing - Everything you need to know

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

In today's digital world, online marketing is an essential part of success for businesses of all sizes and industries. Online marketing includes all measures that help to advertise, sell and market products or services on the Internet. Here are the most important aspects of online marketing that you as a company should know:

Website Optimization: A well-optimized website is the cornerstone of a successful online presence. The website should have a clear structure and navigation, be mobile-friendly, and contain important keywords that align with the target audience and the company's services or products.

Search Engine Optimization (SEO): SEO refers to optimizing content to make it visible to search engines like Google or Bing. A good SEO strategy can help your website rank higher on search results pages, which can lead to more traffic and potential customers.

Content Marketing: This involves creating quality content such as blog posts, e-books, videos, and infographics that engage the target audience and provide them with useful information. By sharing content on social media or other platforms, businesses can increase their visibility and expand their audience.

Social media marketing: Social media offers companies the opportunity to interact directly with their target group and to inform them about news, products and offers. Choosing the right platforms and having a consistent presence can help increase engagement and build customer relationships.

Search Engine Marketing (SEM): SEM refers to paid advertising on search engines like Google AdWords. By placing ads on the search results pages, businesses can instantly drive more traffic to their website and engage potential customers.

Email Marketing: Sending emails to subscribed recipients can help increase awareness of products and services and build customer loyalty. It's important to send relevant and personalized content and to make sure the emails are readable on all devices.

Affiliate Marketing: Affiliate marketing is a partnership between a company and an affiliate who promotes the company's product or service and receives a commission for doing so. By working with affiliates, businesses can increase their reach and product sales.

These seven aspects of online marketing are just a fraction of what businesses can do to improve their online presence and attract more customers. It is important to develop a strategic and consistent marketing strategy that is aligned with the goals and needs of the company and the target audience.

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