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What are avoidable mistakes when starting an online business?

04/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Lack of market analysis: Before starting an online business, you should conduct a comprehensive market analysis to ensure that there is a need for your product or service. If you skip this step, you could end up starting a business that has no market or doesn't fill a need.

Lack of audience analysis: it's important to know who your target audience is so you can target your online business accordingly. If you do not engage with your potential customers, you may end up offering a product or service that is not tailored to their needs and interests.

Lack of a business plan: Without a well thought out business plan, it will be difficult to successfully launch and operate your online business. A business plan will help you determine your goals and strategies, plan your costs and revenues, and identify potential risks.

Lack of investment in marketing: just because you've created an online business doesn't mean it will grow on its own. You need to invest in marketing to reach your target audience and get your brand known. If you don't, you may end up with a great product or service, but no customers.

Lack of focus on customer service: customer service is just as important in online business as it is in brick-and-mortar retail. You need to make sure your customers are happy and that you respond quickly and effectively to their inquiries and complaints. If you don't take care of your customers, you can quickly get a bad reputation and lose customers.

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What advantages does the use of data science and artificial intelligence offer companies, e.g. in marketing and sales?

04/05/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The use of data science and artificial intelligence (AI) offers companies numerous advantages in various areas, especially in marketing and sales. Here are some examples:

Personalization: By using AI systems, companies can provide customers with personalized offers and recommendations. By analyzing and processing the preferences, needs and behavior of customers, companies can offer tailor-made offers and thus increase customer satisfaction and loyalty.

Audience analysis: Data science and AI systems enable companies to perform comprehensive analyzes of the audience. By using data sources such as demographic data, behavioral patterns or purchase histories, companies can better understand their target groups and develop targeted marketing campaigns.

Automation: AI systems can automate certain marketing and sales tasks, such as lead generation, customer segmentation, or marketing campaign planning. This saves time and resources and allows companies to focus on other tasks.

Prediction and Optimization: By using AI systems, companies can make forecasts and carry out optimizations. For example, they can make predictions about future trends, demand or customer behavior and adjust their offer accordingly.

Increased efficiency: Data science and AI systems can help companies to optimize their marketing and sales processes and make them more efficient. For example, companies can measure the effectiveness of their advertising campaigns or improve their sales strategies based on data.

Cost savings: Companies can save costs by automating and increasing efficiency. In addition, the use of AI systems can help prevent fraud and abuse, thereby minimizing financial losses.

These advantages make it clear that data science and AI represent a valuable tool for companies in marketing and sales to increase the effectiveness and efficiency of their business processes and thus achieve competitive advantages.

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Establishing journalist contacts - How to get into trade media

04/04/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

If you want to be featured in trade media as an expert, there are some steps you can take to improve your chances. Here are some tips on how you can build journalist contacts and get into trade media:

Identify relevant media and journalists: find out which media and journalists are active in your industry and what topics they cover. Follow their articles and posts and pay attention to their interests and focus.

Make contacts: try to build personal relationships with journalists. Email or call them to introduce yourself and express your interest in their work. Make sure you are friendly and professional and don't send pre-written press releases.

Offer relevant content: When speaking with journalists, offer relevant and interesting content that may be of interest to their audience. Be prepared to share your views and opinions and explain how your expertise can help shed light on a particular story or topic.

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Winning customers with copy - How good copywriting works

04/03/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Good copywriting is an important aspect of attracting customers. Here are some tips on how to write copy that will appeal to potential customers:

Define target audience: Before you start writing, you should be clear about who your target audience is. The more precisely you can define the target audience, the better you can address their needs.

Emphasize benefits: Instead of just describing features, you should emphasize what benefits the product or service has for the customer. Customers want to know what they get out of it.

Address emotions: Emotions are an important factor when it comes to attracting customers. That's why you should try to appeal to emotions in your texts and build a connection with the reader.

Call-to-action: At the end of the text, you should always include a call-to-action that asks the reader to take an action. For example, a registration, a purchase, or a contact.

Write clearly and understandably: Copy should be written clearly and understandably. Avoid jargon or unnecessarily complicated sentences. The reader should be able to grasp the information quickly.

Use creativity: Creativity can help make texts more interesting and appealing. Try to come up with unusual approaches that will catch the reader's attention.

Write user-oriented: When writing texts, you should always be guided by the needs of the users. What are their questions, what are their problems, and how can you help them?

Test and optimize: Finally, you should always test and optimize the texts. Which texts are well received by users and which ones less so? By analyzing user behavior, you can always improve your texts.

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Self-PR - How to take public relations into your own hands for yourself or your company

03/28/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Self-PR is an important way to take public relations for yourself or your company into your own hands and generate more attention. Here are some tips to successfully do self-PR:

Define target audience: Define your target audience and the media they consume. This will allow you to target your PR efforts to meet the needs of your audience.

Develop PR strategy: Develop a PR strategy that defines your goals and actions. Determine what topics you want to communicate, what media you want to target, and what actions you will take to achieve your PR goals.

Write press releases: write press releases regularly to communicate important news and developments. Make sure the releases are interesting, informative and targeted to your audience.

Use social media: Use social media to spread your messages and content. Choose the channels that best fit your audience and share relevant content regularly.

Write guest posts: write guest posts for relevant media to share your expertise and messages. Make sure the post fits the topic and adds value for readers.

Organize events: Organize events to engage your target audience directly. Invite relevant media and experts and use the opportunity to present your messages and content.

Maintain contacts: Maintain your contacts with relevant media and experts. Keep them up to date on news and developments and offer them interesting stories and topics.

By implementing these tips, you can take public relations into your own hands and successfully spread your messages and content. It takes some work and time, but it's an important investment in the success of your business or you.

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