12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A conversion is an action that motivates a visitor to a website, blog, or other digital property to become a customer or take some other desired action. It can be a purchase, sign-up, or other call-to-action. Conversion optimization refers to the analysis of specific actions to increase a company's success rate.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A mentor is a person who assists another in developing their professional skills, ideas, and goals. Mentors are usually experienced professionals who help others realize their potential and achieve their goals. They offer knowledge, insight, and support and help their protégés develop personally and professionally and lead successful lives.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A co-founder is a person who, together with the founder of a company or project, helps shape its development. Co-founders often take on tasks such as start-up and financing, leadership and strategy, product development, marketing and customer support. They often work closely together to make the company or project a success.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A business framework is a framework that helps companies develop and implement strategies and processes. It is a flexible system that helps organizations comply with industry standards, meet regulatory requirements, and achieve their goals. For example, a business framework may include a set of policies and procedures to support the development and implementation of a business plan. It may also include a guide for developing internal control policies and procedures. A business framework can help organizations identify, assess, and manage risks to ensure the success of the business.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
1. Inadequate target group analysis: most companies have difficulty in correctly identifying their target group. As a result, they do not know how to address their customers.
2. Unclear advertising message: if companies cannot define very clearly what advertising message they want to convey, it becomes difficult to connect with potential customers.
3. Insufficient reach: if companies are not able to send their advertising to the widest possible audience, they will attract fewer customers.
4. Insufficient budget: if companies do not have the necessary funds for advertising activities, customer acquisition will be more difficult.
5. Lack of advertising friendliness: if companies are not able to respond to the needs and expectations of their target group, they are likely to be less successful.