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Reduce distribution costs sustainably

12/08/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Make a detailed analysis of your distribution costs. Check how much money you spend on certain activities, how much revenue they generate and how profitable these activities are.

2. Examine your sales processes and identify possible improvements. For example, look at whether automating processes can help you reduce costs.

3. Use technology to optimize your sales processes. For example, invest in customer relationship management software to better understand your customers and generate more sales.

4. Train your employees in sales skills and give them the tools they need to do their jobs more efficiently.

5. Create a clear sales strategy and approach to focus your efforts and reduce costs.

6. Focus on your core markets. Focus your efforts on the markets that bring you the highest sales and profits.

7. Use the Internet and social media to reach your potential customers and reduce costs for traditional sales.

8. Make use of cost calculations to verify the profitability of your sales activities.

9. Review and improve your sales materials to create a professional brand and generate more sales.

10. Use appreciation programs to retain your customers and generate more sales.

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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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Customer acquisition - Why your sales force is the most important element for their success

09/11/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Customer acquisition is a key element to the success of your business. With a successful sales force, you can increase your sales, generate more leads, and achieve higher customer retention. With effective customer acquisition, you can increase your reach and attract new customers that will help you expand and grow your business.

A strong sales force is not only important for new customers, but also for existing customers. It helps you provide a better customer experience and helps you retain your customers and keep them informed about new products and services. Effective sales also helps you increase your brand awareness and market your products and services.

A professional sales force can also help you reduce your costs. With a professional sales force, you can generate more revenue by making your advertising and marketing more efficient. You can also negotiate better with your customers and increase your sales by setting the right prices.

Sales also helps you improve the way you work. You can streamline your processes and procedures to achieve greater productivity and efficiency. A professional sales force can also help you improve your customer service by responding to and taking care of customer needs.

Sales is an important part of any business, and an effective sales force is central to your company's success. It can help you increase sales, attract new customers, and improve customer retention. With a professional sales force, you can succeed and grow your business.

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CRM software in 2023: Focus on revenue strength and vendor landscape

08/28/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

In 2023, Customer Relationship Management (CRM) plays a prominent role in the business world. Advancing digitalization has increased the importance of effective customer management, and CRM software has established itself as an indispensable tool. In this article, we take a look at the sales figures and vendor landscape in the CRM software sector.

Market Overview: Revenue growth and trends

The CRM software market is witnessing steady growth in 2023 as companies worldwide increasingly rely on these solutions to optimize their customer relationships. According to data from market research firm Gartner, global CRM software revenue was approximately $48.2 billion in 2020. This trend is set to continue, with revenues expected to exceed $80 billion by 2025.

Some of the defining trends in 2023 include:

Customer centricity: companies are increasingly focusing on the needs and wants of their customers. CRM software makes it possible to centrally manage customer information and design personalized interactions.

Customer centricity.

Artificial intelligence and automation: integrating AI and automation into CRM software improves efficiency in data collection, analysis, and customer communication. Predictive analytics is used to predict customer behavior and provide personalized recommendations.

Multi-channel communication: Customer interactions today take place across multiple channels. CRM software enables seamless integration of communications across email, social media, live chats, and more.

Vendor landscape: diversity and competition

Vendors of CRM software are diverse, offering solutions for companies of many different sizes and industries. Both established players and emerging companies contribute to the diversity of the vendor landscape.

Leading CRM software vendors in 2023 are:

Salesforce: One of the pioneers in the CRM space, Salesforce offers a wide range of solutions, from sales to marketing to customer service.

Microsoft Dynamics 365: Microsoft's suite offers comprehensive CRM capabilities and seamless integration with other Microsoft products.

HubSpot: Known for its user-friendly platform, HubSpot covers sales, marketing and customer service.

Zoho CRM: Zoho offers an affordable, feature-rich solution that caters to both small and large businesses.

Oracle CRM: Oracle offers scalable CRM solutions for companies of all sizes with a focus on artificial intelligence and data analytics.

The vendor landscape in CRM software is characterized by competition and innovation. Companies have the ability to choose from a wide range of solutions that meet their unique needs.

The CRM software market in 2023 continues to grow, reflecting the growing importance of customer relationship management in today's business environment. The diversity of vendors and the integration of advanced technologies such as AI and automation underscore the transformation of this critical industry.

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Despite the economic downturn, digital advertising continues to grow. PwC study forecasts revenues of US$663 billion from digital advertising by 2027

08/22/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Despite economic uncertainties, the digital advertising industry remains on an impressive growth trajectory. According to a recent study by PricewaterhouseCoopers (PwC), global digital advertising revenues are expected to reach $663 billion by 2027. This encouraging scenario will particularly benefit companies that specialize in AI-powered solutions to automate and optimize digital marketing activities.

Last year, digital advertising proved to be a definitive growth factor in the entertainment and media industry. According to PwC's "Global Entertainment & Media Outlook 2023-2027," global revenues in this segment rose 8.0 percent to $484 billion in 2022. Although the pace of growth is expected to slow slightly in the coming years, the general upward trend will remain. PwC's estimates suggest that global Internet advertising revenue in the entertainment and media segment could grow at a compound annual growth rate of 6.5 percent through 2027, representing potential revenue of $663 billion.

Despite economic uncertainties, the digital advertising industry remains on an impressive growth trajectory. According to a recent study by PricewaterhouseCoopers (PwC), global digital advertising revenues are expected to reach $663 billion by 2027. This encouraging scenario will particularly benefit companies that specialize in AI-powered solutions to automate and optimize digital marketing activities.

Last year, digital advertising proved to be a definitive growth factor in the entertainment and media industry. According to PwC's "Global Entertainment & Media Outlook 2023-2027," global revenues in this segment rose 8.0 percent to $484 billion in 2022. Although the pace of growth is expected to slow slightly in the coming years, the general upward trend will remain. PwC's estimates suggest that global Internet advertising revenue in the entertainment and media segment could grow at a compound annual growth rate of 6.5 percent through 2027, representing potential revenue of $663 billion.

The positive forecast is based on the adaptation of advertising practices to the time customers spend on social media platforms, in apps, on retail platforms and on gaming websites. Digital advertising is becoming smarter, more efficient, more targeted, and more focused on specific incentives to buy.

The growth in digital advertising is expected to continue

An additional growth driver in the digital advertising industry is artificial intelligence (AI). The study by SRH Berlin University of Applied Sciences shows that almost 95 percent of the marketing managers surveyed are convinced that AI will play an increasingly important role in marketing tasks in their companies. AI makes it possible not only to generate advertising content on platforms such as Amazon, Google, Facebook and Microsoft at lightning speed, but also to adapt it optimally to the individual needs of the user.

The digital advertising industry is thus not only demonstrating resilience in the face of economic turbulence, but is also being strengthened by innovative approaches and technologies such as artificial intelligence. This opens up opportunities for companies to benefit from continued growth and offer advanced solutions for the changing world of digital advertising.

In the past year, digital advertising proved to be a significant growth factor in the entertainment and media industry. According to PwC's "Global Entertainment & Media Outlook 2023-2027," global revenues in this segment grew 8.0 percent to $484 billion in 2022. Although the pace of growth is expected to slow slightly in the coming years, the general upward trend will remain. PwC's estimates suggest that global Internet advertising revenue in the entertainment and media segment could grow at a compound annual growth rate of 6.5 percent through 2027, representing potential revenues of $663 billion.

The positive forecast is based on the alignment of advertising practices with the amount of time customers spend on social media platforms, in apps, on retail platforms and on gaming websites. Digital advertising is becoming smarter, more efficient, more targeted, and more focused on specific incentives to buy.

The growth in digital advertising is expected to continue

An additional growth driver in the digital advertising industry is artificial intelligence (AI). The study by the SRH Berlin University of Applied Sciences shows that almost 95 percent of the marketing managers surveyed are convinced that AI will have an increasing significance for marketing tasks in their companies. AI makes it possible not only to generate advertising content on platforms such as Amazon, Google, Facebook and Microsoft at lightning speed, but also to adapt it optimally to the individual needs of the user.

The digital advertising industry is thus not only demonstrating resilience in the face of economic turbulence, but is also being strengthened by innovative approaches and technologies such as artificial intelligence. This opens up opportunities for companies to benefit from continued growth and offer advanced solutions for the changing world of digital advertising.

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