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How to perform an effective audience analysis for an online marketing campaign?

09/18/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

An effective audience analysis for an online marketing campaign can be done in a number of ways. Here are some steps and methods that can help:

Define your goals: Clarify what goals you want to achieve with your marketing campaign. For example, do you want to increase sales, attract new customers, or increase brand awareness?

Collect data about your existing customers: Analyze your existing customer data to get information about their demographics, interests, buying behavior and preferences. Use data from customer surveys, website analytics tools, social media analytics, etc.

Create Buyer Personas: Based on the customer data you collect, you can create fictional person profiles that represent your typical customers. Give these personas names, ages, occupations, hobbies, interests, challenges, etc. This will give you a better idea of your target audiences.

Do market research: Conduct market research to get information about the broader market and potential customers. Use external sources such as surveys, studies, industry reports, and competitive analysis to get a more comprehensive picture of your target audiences.

Consult with your market research team to get a better idea of your target audiences.

Use audience analysis tools: There are several online tools and platforms that can help you with audience analysis. For example, you can use Google Analytics to analyze the behavior of your website visitors, or use social media analytics tools like Facebook Insights or Twitter Analytics to get information about your followers.

Use social media and online forums: by monitoring discussions and interactions on social media and online forums, you can gain valuable insights into the needs, opinions, and issues of your target audiences.

Conduct surveys and interviews: Getting direct feedback from your target audience can be extremely helpful. Conduct surveys, interviews, or focus groups to gain insight into your potential customers' needs, preferences, and challenges.

Get direct feedback from your target audience can be extremely helpful.

Segment your audience: based on the data and information you collect, you can divide your audience into different segments. These segments can be formed based on demographics, interests, buying behavior or other criteria. This allows you to better target your marketing messages and channels.

Review and update your target group analysis regularly: Target group analysis should not be a one-time process. Changes in your market and customers' needs require regular updates to your analysis. Monitor your campaigns, continuously collect data, and adjust your strategy accordingly.

Effective audience analysis is critical to the success of your online marketing campaign. By better understanding your target audience, you can target your messages and marketing efforts to the needs and interests of your potential customers.

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What is an ad hoc study?

09/14/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

An ad hoc study refers to a specific, one-time research investigation or analysis conducted in response to a request or need. Unlike regular or ongoing research projects that occur continuously or at regular intervals, an ad hoc study is initiated specifically to answer a particular question, solve a problem, or provide information for specific decision making. Here are some characteristics and features of ad hoc studies:

Single-case study: ad hoc studies focus on a single case, specific problem, or targeted question. They are not designed to track general trends or long-term research goals.

Time Limit: Ad hoc studies typically have a time limit and are usually conducted quickly to respond to current needs or questions.

Customized: These studies are often conducted at the request of a customer or in response to a specific need. Companies, organizations, or individuals hire research organizations or outside consultants to gather specific information or conduct analysis.

Targeted data collection: data collection and analysis in ad hoc studies focuses on gathering targeted information relevant to solving a problem or answering a question.

Flexible methodology: Because ad hoc studies often need to be conducted quickly, they require flexible research methodology. Researchers adapt methods and approaches to meet the specific needs of the project.

Decision making: The results of ad hoc studies are often used to support decision-making processes. Organizations can make strategic decisions based on the information gathered.

Examples of ad hoc studies may include:

A market research study to obtain customer feedback on a new product before it is launched. A survey to assess customer satisfaction after a specific marketing campaign. An analysis of the impact of an unexpected event or crisis on a company. Ad hoc studies are valuable for gaining short-term information and insight, but they cannot replace the ongoing, comprehensive research that is often required for long-term strategic planning and trend analysis.

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What is sales management?

09/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Sales management, also referred to as marketing or commercialisation, is a comprehensive concept and management discipline concerned with the planning, execution and control of activities to satisfy the needs and wants of customers in an economic environment. The main objective of marketing is to successfully place and sell products or services in the market.

Here are some key concepts and aspects of sales management:

Customer orientation: Sales management places a strong focus on the needs, wants and preferences of customers. It seeks to design and position products and services to meet customers' expectations and ensure their satisfaction.

Product policy: The product policy is a key concept in sales management.

Product policy: This refers to the design and development of products or services to ensure that they meet market needs and provide competitive advantages.

Pricing: Setting prices for products or services is an important part of sales management. It involves pricing strategies based on market analysis, cost structures and competitive factors.

Distribution and sales promotion: This includes the selection of distribution channels, the planning and implementation of sales strategies, and the promotion of products or services through marketing activities such as advertising, sales promotion and public relations.

Market research: Market research is a crucial part of sales management and helps companies gather information about the market, target groups, competitors and trends. This enables informed decisions to be made.

Positioning and branding: Sales management is concerned with positioning products or services in the market to create a unique selling proposition and competitive advantage. This is closely related to branding and identity development.

Customer relationship and retention: Sales management aims to build long-term relationships with customers and foster their loyalty to the brand or company. This can be achieved through customer service, loyalty programmes and customer-focused communication.

Post-sales service.

After-sales service: This refers to the support and assistance provided to customers after purchase to ensure they are satisfied and their needs are met.

Measurement and control: Companies use various metrics and key figures to measure and monitor the success of their marketing activities. This allows for continuous improvement and adjustment of marketing strategies.

Sales management is a dynamic discipline that is constantly exposed to new trends and technologies. It is critical to the success of companies and organisations in a competitive business world. Companies that develop and implement effective marketing strategies are better positioned to achieve their goals and be successful in the long term.

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How can you identify the target group for PR measures?

09/05/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Identifying the target audience for PR efforts requires careful analysis and research. Here are some steps that can help you identify the target audience for your PR efforts:

Define the goal of your PR efforts: Before you can identify your target audience, you need to establish clear goals for your PR campaign. For example, do you want to increase awareness of a new product or improve your company's reputation?

Analyze your existing target audience: look at your existing customers or stakeholders and analyze their characteristics. What demographic characteristics such as age, gender, income, education and geographic location are relevant? Also identify their needs, interests, and values.

Conduct market research: Conduct comprehensive market research to learn more about the market, the industry and your potential target audience. Analyze existing data, conduct surveys, or hire outside market research firms to gather information about your target audience.

Conduct Competitive Analysis: Examine your competitors and their target audiences. What type of PR efforts are they using? Who are they targeting? This can help you define your target audience and make sure you stand out from your competitors.

Consider your competitors.

Create personas: Based on the information you've gathered, you can create different personas that represent your potential target audience. A persona is a fictional representation of a specific customer group that includes characteristics such as age, occupation, interests, and behaviors.

Create personas that represent your target audience.

Refine your target audience: based on the personas you create, you can further refine and prioritize your target audience. Identify the personas that are most likely to be reached by your PR efforts and have the greatest impact on your goals.

Review and adjust your target audience: It's important to note that target audiences can change over time. Regularly review your target audience definition and adjust it to reflect new market developments or changes in your business goals.

Make sure you have a thorough understanding of your target audience.

Through thorough analysis, market research and the creation of personas, you can effectively identify and address your target audience for PR activities.

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Hourly rates of self-employed

08/31/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The hourly rates of self-employed professionals can vary widely in different industries and specialties. They depend on factors such as the type of service, experience, specialization, location and market demand. Here are rough guidelines for hourly rates of self-employed professionals in various fields:

Consulting and management:

Emerging or junior consultant: €30 - €60 in Europe / $30 - $60 in the US

Experienced consultants: €60 - €120 in Europe / $60 - $120 in the US

Senior consultants or experts: 120 € and more in Europe / $120 and more in the USA

Design and creativity:

Ebeginners: 20 € - 50 € in Europe / $20 - $50 in the USA

Experienced designers: 50 € - 100 € in Europe / $50 - $100 in USA

Experts and specialists: 100 € and more in Europe / $100 and more in the USA

IT and Technology:

Entry or junior developers: €20 - €50 in Europe / $20 - $50 in the USA

Experienced developers: €50 - €100 in Europe / $50 - $100 in the USA

Senior or specialist developers: 100 € and more in Europe / $100 and more in USA

Writing and content creation:

Ebeginner: €15 - €40 in Europe / $15 - $40 in the US

Experienced writers: €40 - €80 in Europe / $40 - $80 in USA

Specialist authors or experts: 80 € and more in Europe / $80 and more in USA

Health care (medicine, therapy, etc.):

Depending on the field and specialization, hourly rates can vary widely. In some cases they can reach hundreds of euros or dollars per hour.

Please note that these are general estimates and actual hourly rates can vary widely depending on various factors. To determine the right hourly rate for your services, conduct thorough market research to understand current rates in your industry and region. Also consider your own experience, expertise, and the value of your services when pricing.

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