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What are the customer acquisition costs in B2B?

02/22/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The cost of customer acquisition in B2B can vary widely and depends on many factors, such as the industry, the company, the target audience, the sales channel, and the type of marketing activity.

Some common marketing activities in B2B include digital marketing campaigns such as Google Ads ads, advertising in trade magazines, direct marketing, cold calling, networking events and trade shows. The cost of these activities can vary widely, ranging from a few hundred dollars to several thousand dollars or even higher, depending on the tactics used and the intensity of the campaigns.

Especially due to the high click prices in the B2B area (= products & services to corporate customers) of up to 15 € per click and associated lead prices of several dozen euros to several hundred euros, strong optimization and testing measures are required to not burn the marketing budget.

An important factor in determining the cost of B2B customer acquisition is also customer lifetime value (CLV), or the expected revenue a customer will generate throughout the relationship with the company. If the CLV is high, higher customer acquisition costs may be justified.

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What are typical beginner mistakes when designing and running Google Ads?

02/22/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Wrong keyword selection: Keyword selection is critical to the success of your Google Ads campaign. Avoid choosing keywords that are too general or focusing on only a handful of keywords. Instead, use keyword tools to find relevant and specific keywords related to your product or service.

Insufficient budget: having too little budget can result in your ads not being displayed enough times, and therefore not generating relevant clicks. It is important that you budget enough to make your ads visible and drive potential customers to your website.

Lack of landing page optimization: When you run a Google Ads ad, it is important to make sure that the landing page you link to is relevant and user-friendly. Otherwise, you risk users leaving your site quickly and you won't achieve success.

Missing ad extensions: Ad extensions are an important part of Google Ads. They can help make your ad more eye-catching and informative. Use the various ad extensions to include additional information like opening hours, location, and phone number in your ad.

Lack of conversion tracking: without conversion tracking, you can't accurately measure which ads are successful and which are not. Use Google's conversion tracking tool to see which ads are leading to conversions on your website and adjust your campaign accordingly.

Not monitoring regularly: It is important that you monitor and adjust your Google Ads campaign regularly. Otherwise, you run the risk of your ads becoming ineffective and wasting valuable budget.

No targeting: Use the various targeting options to ensure that your ads are played out to the right users. Otherwise, you risk your ads being served to people who are not interested in your product or service.

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Consulted and sold? What consulting can do - and what it can't

02/22/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Consulting offers companies a range of services that enable them to optimize their business. Some of these services can help advise and support a business, while others are more focused on sales.

Consulting is a service that helps companies solve problems by intervening in the structure of the company, developing a new business model, or creating a strategy. Consultants help businesses solve complex problems by providing advice, analysis, and guidance on specific business problems and needs. Consulting can also help set a business on a new path by encouraging it to explore new ideas and opportunities that it had not previously considered.

Sales is another type of service offered by consulting firms. Sales consulting is a specialized service that can help companies develop and implement sales strategies. A sales consultant can help businesses plan their marketing, develop their sales strategies, reach their customers, and improve their sales techniques.

The main difference between consulting and sales is that consulting is focused on solving business problems, while sales is focused on selling products or services. Therefore, consulting can help companies develop a strategy to improve their business, but selling is an additional step that must be taken to attract new customers or increase sales.

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What is a web framework?

02/21/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A web framework is a collection of tools, libraries, and components that help developers build, test, and manage web applications. Web frameworks provide a structure and common foundation on which developers can build their applications, rather than having to start from scratch each time.

A typical web framework provides a set of features and tools, including a web server, route management, template engines, a database access layer, authentication and authorization, caching, and more. It can also include specialized libraries and tools for building APIs, processing user data and integrating with third-party services.

Web frameworks exist for many different programming languages, including Python, Java, Ruby, PHP and JavaScript. Popular examples of Python web frameworks include Django, Flask and Pyramid, while Java developers often use Spring, Struts and Play.

Using a web framework can help reduce the time and effort required to build web applications, as developers can focus on writing application code rather than infrastructure. In addition, a web framework can help improve the security, reliability, and scalability of web applications.

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What is PostgreSQL?

02/21/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

PostgreSQL is a relational database management system (RDBMS) based on an open source platform that supports an extension of SQL (Structured Query Language). It has been a popular RDBMS for many years and has an active community of developers and users.

PostgreSQL offers a wide range of features, including transaction support, ACID compliance, the ability to run complex queries, and store and retrieve data in a very efficient manner. It is also very scalable and can run on a variety of platforms, including Linux, Windows and macOS.

One of the notable features of PostgreSQL is its ability to create custom functions and stored procedures that allow developers to execute complex business logic within the database itself. It is also capable of integrating with other programming languages such as Python, Java and C++.

PostgreSQL is a powerful RDBMS and is used in many applications and industries, including financial services, e-commerce, government and education.

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