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What are typical mistakes in customer acquisition?

07/14/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are some typical customer acquisition mistakes that companies can make. Here are some examples:

Lack of target group analysis: if companies do not know exactly who their target group is, it can be difficult to understand their needs and requirements. Therefore, a thorough audience analysis is essential in order to target marketing efforts to the right customers.

Unclear or wrong message: If the marketing message is unclear or wrong, it can cause potential customers to lose interest or not take the company seriously. A clear and compelling message that highlights the benefits and added value of the offering is therefore essential.

Poor customer experience: A poor customer experience, for example due to slow or unfriendly customer service, can lead to potential customers not recommending the company or even giving it bad reviews. A positive Customer Experience is therefore important for gaining customer trust and building long-term customer relationships.

Incorrect priorities: If companies invest too much time and resources in marketing activities that are not focused on the needs of the target group, this can lead to waste. A targeted marketing strategy that is focused on the needs of the target group is therefore necessary.

Lack of continuity: a one-off marketing campaign may attract potential customers, but long-term customer relationships require a continuous and consistent marketing strategy. Companies should therefore conduct marketing activities on a continuous basis to build long-term customer relationships.

Lack of analysis and optimization: Without regular analysis and optimization of marketing activities, it can be difficult to make improvements and measure the success of the marketing strategy. Companies should therefore regularly analyze and optimize their marketing activities to ensure that they are aligned with the needs of the target group and achieve positive results.

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What mistakes can you easily avoid when starting up?

07/07/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Insufficient planning: To start a successful business, it is important to create a detailed plan that includes strategic goals, market, finances, resources and strategies for implementation.

2. Insufficient financial knowledge: In order to start and run a business, it is necessary to have a basic understanding of finance and financial accounting. It is important to learn about different financing options and create a financial plan.

3. Insufficient marketing knowledge: A successful business is based on a good marketing strategy and a solid brand. Therefore, it is important to learn about different marketing channels and techniques and create a strategy that fits the company's goals.

4. Insufficient legal knowledge: Starting a business requires a good understanding of the applicable laws. Therefore, it is important to consult a lawyer and learn about the legal aspects of the business before putting the startup into action.

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What are the biggest mistakes as a salesperson?

06/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Waste too much time on non-profitable activities.

2. Not working to build quality relationships with customers.

3. Spending too much time selling new business and not enough time building on existing business.

4. Not spending enough time on lead generation activities.

5. Not knowing how to make successful sales calls.

6. Not spending enough time acquiring market knowledge.

7. Not trying to identify and focus on a target group.

8. Not trying to learn new sales techniques.

9. Not having a clear strategy for pricing.

10. Not being able to solve a problem if it is one.

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How can I promote and sell complex products or products that require explanation?

05/24/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Promoting and selling complex products or products that require explanation can be challenging, but requires a focused strategy. Here are some steps that can help you:

Target audience analysis: analyze your target audience and understand their needs and requirements. Also consider how they prefer information and how they respond to different marketing methods.

Storytelling: an effective way to promote complex products is to use storytelling techniques. Tell stories that focus on your product and show how it can solve your target audience's problems and needs.

Use of videos: Videos are a great medium to explain complex products. You can create step-by-step guides or tutorials to demonstrate your product. Using animations or infographics can help illustrate complicated technologies or processes.

Expert opinions: Use expert testimonials to persuade your target audience. Publish testimonials or case studies that show how your product can solve problems and add value.

Customer feedback: Show feedback from satisfied customers to convince potential customers of your product. Use platforms like social media to collect and share customer feedback.

Personal contact: Offer potential customers a face-to-face consultation or demo to help them understand your products and answer questions.

Content marketing: create relevant content that appeals to your target audience and provides useful information. Use blogs, infographics, podcasts, or white papers to explain complex topics and engage potential customers.

Promoting and selling complex products or products that require explanation can be challenging, but with the right strategy and a well-thought-out plan, you can succeed.

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Online ads: How to use them effectively to attract customers

05/17/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Online ads are an important part of any marketing strategy. Compared to traditional forms of advertising, they offer many advantages, such as specific targeting, better measurability and greater flexibility. In this article, we'll take a look at the different types of online ads and how to use them effectively to attract customers.

Types of online ads

There are different types of online ads, including:

Search Engine Ads: Ads that appear in the search results of search engines such as Google or Bing. These ads are often triggered by search terms or keywords.

Display ads: Ads that appear on websites, apps, or social media. These ads can take the form of banners, videos, or images.

Social media ads: Ads that are served on social media, such as Facebook, Twitter, or LinkedIn. These ads can be targeted based on user interests, demographics, or behavioral data.

Video ads: Ads that are displayed as short videos on YouTube or other video hosting platforms.

How to use online ads effectively

Define your audience: before you run ads, you need to define your audience. Who are your customers? What are their interests, needs, and pain points? The better you understand your audience, the more targeted and effective you can make your ads.

Choose the right platform: Each platform has its own advantages and disadvantages. Choose the platform that best fits your marketing goals and target audience.

Set a budget: Determine your budget and allocate it accordingly. Make sure you keep track of your budget and don't exceed it.

Create engaging ads: Create engaging ads that appeal to your target audience and provide value. Make sure your ads are clear, concise and visually appealing.

Test and optimize your ads: Test different ad variations and optimize them based on performance. Pay attention to metrics like click-through rate, conversion rate, and cost per conversion.

Conclusion

Online ads are an important part of any marketing strategy. By accurately defining your target audience, choosing the right platform, setting a budget, creating engaging ads, and continuously testing and optimizing your ads, you can effectively use online ads to attract customers and scale your business.

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