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How to implement successful cross-selling

12/28/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Define your goals: Think about the type of cross-selling strategy you want to pursue and the results you want to achieve.

2. Define your target group: define your target group so that you know which products and services best suit them.

3. Create a concept: Create a concept that will form the basis of your cross-selling strategy.

4. Measure the results: To see if your cross-selling strategy is successful, you need to measure results regularly.

5. Test new ideas: Test new ideas to see if they work for your target audience.

6. Optimize the strategy: review and optimize your cross-selling strategy so that it is still relevant and successful.

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How to pitch and sell products in need of explanation the right way

12/13/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Many products and services and the solution they offer are complex and require explanation in order to convince the customer of the specific benefits. With this checklist, you can review which steps you can take to make the pitch even more successful in the future.

1. Define the benefits: Explain to your customers how the product can improve their lives, save them time, or help them.

2. Use examples: Use real-world examples to show how your product has helped others.

3. Compare it to similar products: Compare your product to similar products on the market to highlight the difference.

4. Make an offer: offer a special price, free trials or other incentives to get customers to try your product.

5. Create a WOW factor: think of something that will make your product stand out from the crowd. A WOW factor can be an important part of the sales process.

6. Make a guarantee: Make sure customers know they can buy your product without risk.

7. Make it easy to buy: make sure the buying process is simple and that customers don't have to go through complicated steps.

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What is a Code Review?

12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A code review is a process in which a developer or a team of developers review the source code of a program to improve it and find bugs. The code review process can also be used to identify new features, improve existing features, and ensure conformance to development standards. The goal is to improve software quality and enable a faster development and deployment process.
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What is the Customer Acquisition Cost (CAC)?

12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
The Customer Acquisition Cost (CAC) is a key figure that indicates how much it costs a company to acquire a new customer. It includes all costs spent on reaching and acquiring new customers, such as advertising, sales promotion, selling costs, and customer service. This helps companies to review the efficiency of their marketing budget and evaluate whether they need to cut or increase their costs to attract more customers.
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What is data validation?

12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Data validation is a process that aims to improve the quality of data contained in a dataset. This process verifies that the data is accurate, consistent, and complete, and ensures that the data is fit for its stated purpose. The data validation process can be manual or automated. In the manual process, an expert reviews the data and ensures that it is accurate and complete. In the automated process, special programs or algorithms are used to validate the data.
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