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Hourly rates and daily rates of freelancers and freelancers 2023 - You have to reckon with that

03/09/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
As the client, you must take into account the hourly and daily rates customary in the market for freelancers. Here are some factors to consider:

Area of ​​expertise: The hourly rates and daily rates vary depending on the area in which the freelancer works. In some areas, such as software development, the fees tend to be higher than in other areas such as copywriting or translation.

Experience: An experienced freelancer will usually charge higher fees than a newcomer to their field.

Location: Fees can also vary based on the location of the freelancer. Fees tend to be higher in metropolitan areas or more expensive cities than in rural areas.

Responsibilities: The more complex and demanding the tasks are, the higher the fees will be.

Duration of the project: For long-term projects, the hourly rates and daily rates can usually be negotiated.

It is important that you as the client not only look at the price, but also consider the quality and experience of the freelancer. You should also make sure that the freelancer's fee is reasonable and that their work on your project is fairly remunerated.

The amount of hourly and daily rates for freelancers and freelancers can vary greatly and depends on various factors such as specialty, experience, location and scope of work. Here are some examples of average hourly rates and daily rates in different industries in Germany:

IT / software development: Hourly rate from €80 to €150 and daily rate from €600 to €1200

Design / graphic design: Hourly rate from €50 to €120 and daily rate from €400 to €800

Text creation / translation: Hourly rate from €30 to €80 and daily rate from €250 to €600

Marketing / PR: Hourly rate from €60 to €120 and daily rate from €450 to €900

Consulting / coaching: Hourly rate from €80 to €150 and daily rate from €600 to €1200

However, it is important to note that these numbers are intended as a guide only and actual hourly and daily rates may vary based on individual factors and projects. It's also possible that some freelancers charge lower or higher rates than these averages.

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The Pareto Principle in Customer Acquisition - How to Win More Customers with Simple Means

03/08/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The Pareto principle is an important tool for customer acquisition. It enables companies to identify those customers who bring the greatest benefit. By applying the Pareto Principle correctly, companies can acquire more customers while using their resources more efficiently.

The term Pareto principle was named after the Italian economist Vilfredo Pareto. Pareto noted that 80% of a country's income is allocated to 20% of the population. On this basis, Pareto established the Pareto Principle.

The Pareto principle states that 80% of the result is achieved by 20% of the activity. In customer acquisition, this means that companies generate 80% of revenue from the 20% of their best customers. Therefore, it is important that companies identify and target these 20%.

An easy way to apply the Pareto principle in customer acquisition is to analyze customer data. With the help of data analysis, companies can find out which customers generate the most sales. These customers can then be targeted and given preferential treatment.

Companies can also apply the Pareto principle to identify their customer segment. By segmenting customers according to various criteria such as age, income, occupation and interests, they can find out which type of customer generates the most sales. This group can then be selected as the target group for customer acquisition.

The Pareto principle can also be used to select the right advertising and communication channels. Companies can collect data on those channels that generate the most sales and then focus on using those channels.

The Pareto principle is a useful tool to help companies acquire customers. It helps companies identify those customers that bring in the most revenue and allows them to use their resources more efficiently. With the help of the Pareto principle, companies can acquire more customers and increase their sales.

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What are Responsive Search Ads?

03/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Responsive search ads are a type of ad format in Google Ads that allows advertisers to automatically adapt ads to the search queries and interests of their potential customers.

Unlike traditional text ads, which require advertisers to manually create and optimize ad copy, Google Ads automatically generates ad content based on the keywords entered, ad targets, and other campaign parameters. This involves creating multiple ad texts and headlines, which are then intelligently combined and customized to present the most relevant ads to users.

With Responsive Search Ads, advertisers can be more flexible with ad content while optimizing ad performance because Google Ads automatically selects and uses the combinations of ad content that work best. This can lead to higher click-through and conversion rates, and reduce advertising overhead because fewer manual adjustments are required.

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ChatGPT and sales texts: How AI text generation improves the sales process

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

The development of artificial intelligence has the potential to transform the way we create and consume content. Chatbots and AI text generators like ChatGPT are already in use in many industries and can also offer significant advantages in the sales area.

Sales copy is an important part of the sales process that is often overlooked. But a compelling description of the product or service can mean the difference between a successful sale and a lost customer. In this context, ChatGPT can be used as a powerful tool to generate sales texts.

How does ChatGPT work?

ChatGPT is an OpenAI based text generation technology that works with deep neural networks. It uses pattern recognition to analyze and reproduce natural human speech. It can learn from a variety of sources, absorbing and reflecting a wide range of knowledge.

For example, ChatGPT can be trained on a large set of product descriptions to get an idea of how sales text should be structured. Based on this knowledge, ChatGPT can then generate sales copy specifically tailored to the product or service being advertised.

Benefits of ChatGPT for sales texts

ChatGPT has several advantages over traditional sales text creation methods:

Efficiency: ChatGPT can generate sales texts in no time. This means companies can save time and resources by freeing human labor for other tasks.

Personalization: ChatGPT can generate very specific and personalized sales texts based on the available data. This means companies are able to better target their customers and better meet their needs.

Consistency: ChatGPT generates sales texts that are consistent and uniform. This is especially important when it comes to establishing a brand and conveying a consistent message.

Flexibility: ChatGPT can be trained on a variety of sources and data materials. Businesses can therefore ensure that ChatGPT is specifically tailored to their needs.

Conclusion

ChatGPT can be a valuable addition to the online marketing toolkit. Especially in the area of sales texts, ChatGPT can help companies to work more efficiently, more personalized and more consistently. However, it is important to emphasize that ChatGPT should not be seen as a substitute for human creativity and intuition, but as a tool. Overall, however, it is important that ChatGPT is understood as a tool and not as a substitute for human creativity and empathy in the sales process.

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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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