12/11/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Marketers are individuals who are involved in planning, implementing and controlling marketing strategies and campaigns. They work to market products, services, or brands to a specific audience in order to increase sales. Marketers use a combination of market research, advertising, sales, digital media, and other tools to achieve their goals.
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.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
The click-through rate is a measure of the effectiveness of an advertising campaign. It is the percentage of users who click on a particular ad or link after it has been served to their screen. It can also be referred to as click-through rate (CTR). The higher the click-through rate, the more effective the advertisement is and the higher the chance that the user will perform a described action.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Cost per click (CPC) is a pricing model used in online advertising. It refers to the price an advertiser has to pay per click on an ad. It is an important concept in search engine marketing and is usually used in conjunction with cost per impression (CPM).
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.