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The Global Goals


Colourful houses at Nyhavn, Copenhagen, Denmark
Photo: Shutterstock

Denmark is set to welcome a record number of travellers this year.

Its life philosophy of "hygge," a world-famous foodie scene and a wildly popular Nordic Noir film industry are among attractions luring tourists.

The Danish Chamber of Commerce estimates that at the current rate, hotels in the country will respond to the influx by providing enough beds to accommodate 10 million tourists by 2021, which is almost twice Denmark's population.

Notable recent visitors include the Nobel prize-winning economist Paul Krugman, who in a New York Times column noted that Denmark is "doing a very good job of hiding" its alleged status as a "socialist hellhole."

Given the buzz around visiting Denmark and with hotel occupancy rates already around 80%, the industry is planning to raise supply considerably to accommodate even more tourists. And as banks and other businesses move into cheaper accommodation, hotels are popping up in prime locations everywhere.

Examples include a five-star waterfront Hilton that is due to replace the local headquarters of the Nordic's biggest bank, Nordea. At the other end of the scale, the budget chain Wakeup is adding hundreds of rooms across the city.

In all, there'll be about 8,000 more rooms over the next four years, raising supply at a rate of around 11% per year (in contrast, a total of 6,500 rooms were added in the previous 17-year period).


The Copenhagen tourism board, Wonderful Copenhagen, is forecasting an annual growth rate in visitors of 3.9%, raising projected hotel stays to around 7.58 million a year by 2021.

The expected increase in demand may fall short of supply. But Lars Ramme Nielsen, head of tourism at the Danish Chamber of Commerce, says giving customers more choice is well worth the risk, given that a standard room in an average hotel today can cost more than €220 per night.

City officials say they want to build on the popularity of restaurants like Noma to lure more foodies and turn Copenhagen into the gastronomical capital of Europe.

Unusually warm weather and hosting of the ice hockey World Cup in May helped push arrivals in the first half of the year to a record.

Bikes

In his column, Krugman spoke glowingly of a bike ride he made from Copenhagen to Helsingor (the Elsinor in Shakespeare's Hamlet). However, a note of caution is warranted.

Danes take bike riding very seriously and the best way to anger a local as a tourist (aside from criticising the socialist welfare model) is to stand in the middle of one of the country's many bike lanes.

With 350km of dedicated paths and lanes, Copenhagen is considered the most bike-friendly city in the world. About a third of its citizens cycle to work on a regular basis, and rent-a-bike businesses have multiplied.

"I don’t think the tourists realise how hardcore cycling in Copenhagen is," said Christian Vas, a 38-year-old Hungarian waiter who drives a typical Christiania cargo bike and who made the city his home four years ago.

Aurimas Mul, a 30-year-old business owner, notes that tourists are easy to spot on their rented bikes, so the trick is "to keep your distance, especially when I ride my racing bike".

2018, Luxembourg Times, All rights reserved.


Cambridge Analytica

Over 2,500 users in Luxembourg could be affected by Facebook scandal

Over 87 million users have been affected worldwide by unauthorised data usage

maximilian richard, barbara tasch

07.04.2018

The scandal is affecing millions of users worldwide (Shutterstock)

The latest Facebook scandal also affects users from Luxembourg.

Up to 2,645 users from the Grand-Duchy could be affected, Benelux Facebook spokeswoman Tineke Meijerman told the Luxembourg Times' sister publication the Luxemburger Wort on Friday.

The unauthorised use of information from millions of Facebook users by the data analysis company Cambridge Analytica has sent the social media giant's value plummeting and forced its founder, Mark Zuckerberg, to apologise publicly following worldwide outrage.

Cambridge Analytica gained access to user data through the application "Thisisyourdigitallife", a personality test.

The application also let the company access data from Facebook friends of anyone who downloaded the app, which triggered a snowball effect.

Overall, the company is said to have gained access to the data of 87 million users. In Luxembourg, only one person downloaded the application, Meijerman said.

Facebook wants to inform its users worldwide starting Monday about the possible disclosure of their data to third parties. The information should appear at the top of users' newsfeeds.

All apps that users are connected to on Facebook should also be displayed there in a separate message and it should include an easy way to delete these apps.

 


Oilrig in a Norwegian fjord



NEWS Luxembourg Times

Norway What's ahead for Western Europe's biggest oil nation Bloomberg16.01.2018 Share Tweet Share

After suffering through the worst crisis in a generation, Norway's oil industry is now back on its feet Oil rig in Norway  (AFP) Here are five charts that tell the story of how Norway’s biggest industry tackled the crisis, from the surprising windfalls to the challenges ahead. Most are based on new data from the Norwegian Petroleum Directorate.

1. Recovering Investments
Oil companies in Norway are increasing spending for the first time this year since crude prices collapsed in 2014, the directorate predicted in annual forecasts published last week. Optimism has returned with crude prices hitting €57 a barrel at the same time as drastic cost cuts have made projects even more profitable.

2. Costs Slashed
Forced to react as crude prices hit a low of €22 a barrel in January 2016, oil companies not only cut back on activity levels but also implemented sweeping efficiency programs to lower expenses across their operations. Drilling an exploration well offshore Norway cost about 240 million kroner on average in 2017, half the price from 2013 and 2014, according to the NPD. Operating costs have been reduced by 30% in the same period.A Norwegian oil rig in the North Sea  (AFP)

3. Production Revival
Arguably the most surprising result of the oil crisis is a spectacular rise in production. Companies have been able to pump more oil and gas thanks to cheaper and faster drilling, smoother platform operations and simpler and quicker development work. After reducing long-term output forecasts in January 2015 and 2016, the NPD raised expectations for the second year in a row last week. Total production is now seen close to 2004’s record in 2023.4.

Exploration Concerns
But looking ahead, there’s concern. The number of wells drilled offshore Norway was the lowest in almost a decade in 2016 and activity hasn’t picked up since. As discoveries also get smaller, Norway isn’t close to replacing production with new reserves. Explorers must get moving if the country can hope to limit a new drop in output from the middle of the next decade, the NPD’s head Bente Nyland said on Thursday.

5. Big Oil Flees
During the oil slump, BP  and Exxon Mobil gave up on their role as active operators on the Norwegian continental shelf, with Total  all but following suit. After disappointing results in a record exploration campaign in the Barents Sea in 2017, all the majors except for Royal Dutch Shell snubbed a new, Arctic-focused licensing round. That’s created concerns in Norway’s oil industry, as the Barents holds more than half of the country’s undiscovered resources.

Editor's Picks Brexit 15.01.2018 Fund managers seek tax deal to repatriate cash from Luxembourg  



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What Has Been Your Most Effective Monetization Technique, And Why?

Anytime I have been able to create a one-to-one relationship with another brand and push forward with a marketing and monetization plan, that’s been the most lucrative.

Now, this is beyond just being an affiliate. I’ve spent incredible amounts of time creating articles designed to promote great products and services that I’ve enjoyed and want to share with my audience - and those have done OK.

But they pale in comparison to the times I’ve been able to work directly with a brand’s CEO or Marketing Manager and partner with them in the form of sponsored content, webinars, or even brand evangelism.

Those are the kinds of deals that certainly require a history of proven site traffic and social engagement, but once you build up your brand to that level, it’s a lot of fun and very profitable.

That’s why I’m looking forward to using Trafeze to generate more relationships along those lines.


What Has Been Your Least Effective Monetization Technique?

I’ve deliberately experimented with a lot of monetization techniques, particularly passive ones, so there have been quite a few that have resulted in terrible returns.

AdSense has never been fantastic for me, but there have been far worse techniques.

As a category, for me, the least effective monetization techniques have been “Related Content” — widgets that usually appear below existing articles on my site and recommend other (external) stories my readers might be interested in.

It’s a great concept, and I know it works well on larger, mainstream sites like CNN.com, but on my site the recommendations have always been too off-topic. Instead of showing 8 business- and marketing-related articles, the widgets include stories about celebrities, weight-loss, and other uninteresting content.

And so, not surprisingly, my readers don’t click on the articles. One service I tried, Nster, ran for about 3 months and resulted in approximately $0.06 in earnings. Six cents! That’s on a site that gets about 50k readers a month.

The silver lining here was that it underscored for me the importance of matching your monetization techniques with your target audience and content topics. The more inline they are, the more effective they will be.




Monetization Analyzation

There you have it. Over 50 pieces of advice and anecdotes from some of the best and brightest blogging minds on the planet.

First of all, if you’ve made it this far, congratulations! You’ve just read a master’s course on monetization, and you’re full of ideas and excitement for where your blog or business will be heading.

To help with your takeaways, we wanted to review some of the key points that were mentioned, and do a little analysis on the resulting answers. Ready?


Most Effective Monetization Techniques

Now, as we mentioned earlier, these experts represent a wide array of bloggers and online businesses, all of them with their own goals and models. “Monetization techniques” therefore had different meaning to each.

Here’s how the answers for “Most Effective” played out:

Most of the experts cited Products, Email Marketing or Courses as their most effective technique for monetization.

What’s interesting is that for information-based businesses, it’s easy and natural to combine all three of those, isn’t it?

A course, technically, is a product, and once you’ve developed an email list of interested subscribers, you can market and monetize that course. That’s something that Tor Refsland talked about, specifically.

He said that he pre-launched his course by inviting interested people to subscribe, surveyed them, then built both a free course (as promised) and a more advanced course that was fee-based.

As you read and re-read the techniques outlined above, it’s that kind of synergy that you want to look for. Combine multiple techniques and approaches to create revenue streams that are lucrative and sustainable.


Least Effective Monetization Techniques

As for least effective, well, that wasn’t even close.

Nobody likes banner ads.

I did find the recurring theme of Lack of Focus particularly interesting. It’s something we talk about a lot within the SBI! Action Guide, and I’ve mentioned before as part of the Blogger’s Mindset.

Businesses and bloggers have to be focused. They have to do their homework and make sure that they’re reaching the right niche with the right information or product at the right time. The same is true with your monetization strategy.

I hope that these suggestions from an incredibly diverse and successful group of marketers, business owners and content creators will help you achieve the kind of focus and improved monetization you deserve.

I encourage you to have this entire resource emailed to you for further study.

 




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