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How high should the CPM be in online marketing?

06/28/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The CPM (thousand-contact price) in online marketing can vary greatly depending on various factors. There is no set rule or standard amount for the CPM, as it depends on many different variables. Here are some factors that can affect the CPM:

Target audience: the type of audience you are trying to reach can affect the CPM. For example, it may be more expensive to target a specific and high-value audience.

Ad format: the ad format you choose also plays a role. Different formats such as display ads, video ads, search engine advertising, or native advertising have different cost structures.

Platform: The choice of advertising platform influences the CPM. Well-known platforms such as Google Ads, Facebook Ads, or LinkedIn Ads have different pricing models and price ranges.

Demand and supply: the CPM is also influenced by the demand and supply in the advertising market. When demand for advertising space is high and supply is limited, this can lead to higher CPM prices.

Seasonal fluctuations: In some industries, there are seasonal fluctuations that can affect CPM. Prices may be higher during peak periods or at certain times of the year.

It is important to note that CPM is not the sole measure of the success of an advertising campaign. Other factors such as campaign objectives, targeting, and ad effectiveness also play an important role.

It's best to conduct a comprehensive analysis of your specific requirements, target audiences and budgets, and then set an appropriate CPM accordingly. It can be helpful to consult with experts in online marketing to make an informed decision.

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What is the CPM (thousand contact price) and how much is it (examples)?

06/28/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The thousand-contact price (CPM) is a key figure from the field of marketing and advertising. It indicates how much money an advertiser has to pay to reach a thousand people with his advertising message. The CPM is often used in media planning to evaluate the costs of an advertising campaign and to compare different advertising media with each other.

The exact CPM depends on several factors, including the advertising medium chosen, the target audience, the reach, the type of advertising and other factors. There is no set amount for the CPM, as it can vary greatly.

Here are some examples of possible CPM values in different advertising media:

Television: The CPM for commercials on television can vary widely depending on the station, the time of broadcast and the target audience. For example, it can range between 10 euros and 100 euros.

Print media: For print ads in magazines or newspapers, the CPM can also vary greatly. It can range from a few euros to several dozen euros, depending on the print run, placement and readership.

Online advertising: In online advertising, CPM values are often lower than in traditional media. They can range from a few cents to several euros, depending on factors such as the type of ad, the platform, the target audience, and the ad format.

In online advertising, CPM values are often lower than in traditional media.

It is important to note that these are only rough estimates and actual CPM values can vary widely in practice. The exact costs should be determined in consultation with the advertising marketers or agencies, as they know the current prices and conditions best.

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What's a no-go when looking for a job?

06/26/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A job search "no-go" is a behavior or action that is viewed negatively by potential employers and reduces the likelihood of a successful application. Here are some examples of no-go's in the job search:

Unprofessional appearance: Dressing inappropriately or behaving rudely and disrespectfully toward hiring managers can leave a bad impression.

Inadequate preparation: If you have not done enough research on the company or have no idea about the position you are applying for, this shows a lack of interest and commitment.

Poor application documents: spelling mistakes, unclear CV or an unsuitable application photo can lead to the application being sorted out before the potential employer even has a chance to get to know the candidate better.

Lies or exaggerations: Honesty is critical in application processes. Playing up qualifications or making up experience will usually come to light sooner or later and can lead to a loss of trust.

Unprofessional online presence: employers these days often search online for information about applicants. Sharing inappropriate or unprofessional content on social media or posting negative comments about previous employers or colleagues can hurt an applicant's reputation.

Lack of communication: not responding to messages or calls from the potential employer or not meeting deadlines shows disinterest or a lack of reliability.

Arrogant behavior: Acting arrogant or overbearing during the job application process, such as by belittling other applicants, is rarely well received.

It is important to behave professionally, honestly and respectfully during the job search in order to have the best chance of a successful application.

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What is a no-go in customer acquisition?

06/09/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A "no-go" in customer acquisition refers to an action or approach that is considered totally unacceptable or unprofessional and turns off potential customers. Here are some examples of no-go's in customer acquisition:

Inappropriate behavior: Any form of rude, pushy or aggressive behavior towards potential customers is an absolute no-go. Clients want to be treated respectfully, and any kind of pushing or coaxing is likely to discourage them from working with you.

Lack of research: if you don't have basic information about the potential client and don't know what their needs are or what solutions they are looking for, it comes across as unprofessional and disinterested. Customers appreciate it when you find out in advance and target their individual needs.

Untargeted mass advertising: sending mass emails or spam messages to a large number of potential customers without any personalization is an absolute no-go. It shows that you are not taking a personalized approach and have no real interest in the customer's specific situation.

Missing transparency: if you conceal or deliberately manipulate information or promises to lure customers, trust will be destroyed. Customers value honesty and transparency, and if they feel they are being deceived, they will be unwilling to work with you.

Missing transparency will destroy trust.

Ignoring feedback: customers may raise questions or concerns during the acquisition process. If you ignore them or don't take them seriously, it sends a negative signal. It's important to act on customer feedback, answer questions and address concerns seriously to build a positive customer relationship.

Failing to follow up: If you don't follow up with potential customers after the initial contact or respond to them in a timely manner, it gives the impression that you are disinterested or don't take them seriously. Consistent follow-up is critical to keeping customers interested and resolving their questions or concerns.

These no-gos should be avoided to ensure successful customer acquisition. Instead, focus on a professional, respectful, and customized approach to earn customers' trust and build long-term relationships.

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How can I reach more customers with less advertising budget?

05/23/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are several ways to reach more customers with a limited advertising budget. Here are some tips:

Focus on your target audience: carefully analyzing your target audience can help you use your budget more effectively. Make sure your ads are targeted to your audience by considering demographic and geographic characteristics, interests, behaviors, and other relevant factors.

Use targeted advertising: targeted advertising can help ensure that your ads are displayed to the people who are most likely to become your customers. Use targeted ad formats, such as Facebook Ads or Google Ads, to tailor your ads to your target audience.

Optimize your ads: Optimize your ads by using powerful headlines, clear call-to-actions, and engaging images. Avoid redundant or confusing information to convince potential customers to click on your ad.

Use social media marketing: social media platforms are a great way to promote your business and reach your target audience. There are numerous ways to use social media platforms such as Facebook, Twitter, Instagram, and LinkedIn to promote your business and reach your target audience.

Use influencer marketing: influencer marketing can help get your brand noticed by a larger audience by partnering with influencers or people who are well-known in your industry. Make sure you choose an influencer who connects with your brand and your target audience.

Go for long-term strategies: long-term marketing strategies, such as search engine optimization (SEO), can help your business rank higher in search engine results in the long run, reaching more potential customers.

By using these measures, you can target your audience more effectively with a limited advertising budget and thus reach more customers.

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