Marketing Exam 3
go on social media
A dissatisfied customer may __________________ to tell many people.
Personyze
An SaaS provider of a personalization service for websites.
before
Anticipating and delivering service and support _____________ the customer recognizes the need represents the final stage in the evolution of customer service practices within an enterprise.
Engagement Marketing Engine
Automates interaction and conversions with customers
search
B2B buyers start the buying process with ______________.
1. identify 2. differentiate 3. interact 4. customize
CRM Strategy: (4)
expensive
CRM can be _______________ and prone to failure.
customer relationship management
CRM stands for:
Sales Force Automation
Integrates modules like contact management and links them to the customer database
acquire
It costs 3-30 times as much to ___________ a customer as it does to retain one.
hard
It is (easy/hard) for branded apps to rank high on app visits.
app-based
Most mobile is now ________________, so there are alternatives to websites.
marketing
Sales and _____________ must work together especially to nurture leads so they are ready to convert to sales.
Product centric approach
Traditional mass media only enables a ________________________ approach.
9/10
____/10 customers will pay more for better customer experience.
Cloud
___________ CRM provides efficiencies at lower cost.
Testing
____________ a landing page can produce measurable improvements in the lead generation and management process.
Branding
_____________ is increasingly important in B2B sales.
Relationship
_____________ marketing requires a long term focus
Analytical
______________ CRM includes database enhancement, performance measurement, and selective targeting.
Retention
______________ is more profitable than acquisition.
CRM in the Cloud
software and data shared with all employees on a cloud computing platform
1. larger ticket purchase 2. reduced marketing cost 3. personalized consumer engagement 4. brand differentiation
Benefits of mobile loyalty programs: (4)
Best social platform for B2B
retention.
Branded apps are a key _______________ tool. It increases the number of store visits.
personal data
Branded apps must be worth giving ______________________.
1. need awareness 2. research 3. consideration of vendors 4. purchase decision
Buying journey in B2B: (4)
Customer
Communications have to be based on _____________ lifecycle.
excellent customer service
Companies can no longer provide _________________________ without using social media.
late
Contacting a salesperson comes (early/late) in the purchase process today.
slow
Customers are (quick/slow) to download retail apps.
hub
Every digital marketing program needs a _________. (could be blog, website, etc. but must be central repository for content and transactional tools)
sustainable competitive advantage
Exceptional customer service holds a ______________________________ over companies without exceptional customer service.
testimonials
Feedback from testing
generating the desired prospect behavior
From a marketing campaign perspective, conversion is about ____________________________.
permission marketing
Getting prospects' permission to push content to them
Social CRM broadens the firm's ability to listen and interact with customers. Provides data and insights for social media activities and strategies.
How does social media data improve CRM?
Much like it improves the supply chain; potentially lowers cost, improved employee productivity, better data and analytics, applications easy to use, scalable, and security reliably high.
How does the cloud improve CRM?
It is often quoted to be 70%, but its probably much less than that. Too difficult to measure accurately because there is not a good definition of "failure".
How many CRM projects fail?
Rules based personalization
If...then form of personalization
1. keep the prospect at the center of the process 2. central database stores all data, allows tracking 3. leads from different channels have different acquisition costs
Important conversion issues: (3)
1. nature of buyer's purchase journey 2. stage in buy cycle
In lead nurturing, you must understand: (2)
Centralized Marketing Database
Includes interactions and behaviors
hard
It is (easy/hard) to measure the ROI of CRM.
Possible (but costly)
It is (possible/impossible) to reactivate lost customers.
participate in the marketing process (by suggesting product ideas, choosing ads, etc.)
It is important to encourage customers to _________________.
acquire many poor quality leads
It is less expensive to develop great content, generate quality leads, nurture and qualify leads well, and convert a significant portion of the leads than to ___________________________________.
67%
Loyal customers spend ______% more in the last 6 months than in the first 6 months
short
Loyalty programs tend to have (long/short) term effects and can be expensive.
Pricing
Main thing that B2B buyers want to see on website
demand
Marketing is transformed by _____________ generation.
Demand Generation
More comprehensive term than lead generation; the entire process of developing customer demand. Content to drive awareness, interest. Ends with desired action - conversion.
prior to
Much information, from a website and the web, are acquired (prior to/after) contacting the seller.
deeper relationships
Opportunities for more data create ___________________.
Lead Generation
Process of finding people who are likely to become your customers immediately or in the future. Finding them means finding info about people, like name, email, all of which you can use to initiate business relationship with them. You can do so organically or by spending money. Drives interest, inquiry (action). Set of qualified prospects.
Information driven personalization
Profiles, models. Data provided by user and captured on web (type of personalization)
employee time
Providing customer service in social media requires a considerable amount of ____________________________.
1. budget - does prospect have money to purchase? 2. authority - is prospect the decision maker? 3. need - does prospect have defined need? 4. timing - will prospect buy now or later? (BANT)
Qualifying leads questions (all must be "yes" if it is a sales qualified lead): 4
1. useful, giving benefits that customers like 2. must provide value (offers, coupons, etc) 3. easy to use 4. seamlessly excellent CX
Qualities of a good branded app: (4)
1. informative, not fluffy persuasive content 2. move customers through the demand generation process
Qualities of good content marketing: (2)
1. what pressing issue keeps a person up at night? 2. what motivates a person to take action? 3. what are information sources? 4. how are business decisions made? 5. what orgs, events, social networks seek info from personal sources? 6. what words, phrases used to discuss problems? 7. what would hinder selection of this product? 8. what are content preferences through buy cycle?
Questions for B2B persona: (8)
25%-85%
Reducing customer defection by 5% can increase profits by _____-_____%.
Repurposing content
Reformatting to suit another platform, rewriting as appropriate, such as tweet able quote/blog post/share, etc.
1. increase sales and generate sales leads 2. increase awareness/knowledge of the brand 3. act as a hub for content marketing campaigns 4. interface with social media accounts 5. provide customer service 6. retain and grow the value of customers 7. build an online community 7. cost savings, especially promotion and customer service
Roles of websites: (8)
organizational discipline and commitment
Seamless CX requires ________________________ and __________________________________.
qualitative
Social CRM gives a whole new (qualitative/quantitative) dimension.
monitored
Social media platforms must be ____________________ consistently to identify problems.
Customer Lifetime Value (CLV)
Targeted communications in different stages of a customer lifecycle are all aimed to maximize ______________.
customer
Targeting and personalization process relies on _______________ database.
touches
Technology assists with multiple "_________".
real time
Technology is used to listen, interact, and deliver solutions on a _____________ basis.
Analysis tool
Tests, measures, and optimizes ROI for marketing activities
"Just in time" or "Right time"
The Chewbacca Mom video was an example of __________________ marketing.
29
The average household has _____ loyalty cards, but only use 12.
cost of licensing
The biggest obstacle to implementing CRM programs can be the ___________________________ the needed software.
1. identify conversion goals and KPIs 2. define and acquire target profiles 3. organize/optimize website structure 4. develop a compelling message 5. use effective calls to action 6. enhance shopping cart, lead capture processes 7. test, measure, and refine
The conversion process: (7)
1. content creation 2. lead generation 3. lead nurturing 4. lead qualification 5. conversion 6. metrics (analysis)
The demand generation process (6 steps)
closing the sale
The end goal for conversion is _____________________.
lower
The higher the lead quality, the (lower/higher) the cost to qualify.
growth
There has been a (decline/growth) in non-game app downloads.
false
There is a database to facilitate tracking and relationship building. (true/false)
1. understand target audience, create personas 2. create right content for right journey stage 3. put content where buyers are most responsive 4. marketing and sales must work together 5. track and measure results
To make B2B websites effective: (5)
1. rules based 2. user controlled 3. information driven
Types of personalization: (3)
User controlled personalization
User provides this personalization, registration form, etc.
Social CRM
Using social media platforms and techniques to engage customer base
1. unlikely to be qualified 2. likely to be obtained by spamming or hacking 3. less likely to convert
Very low cost or free leads are: (2)
1. establish site objectives 2. identify target market 3. design site content and navigation structure 4. conduct usability test 5. deploy and tune site 6. measure and evaluate site effectiveness 7. refine and improve site effectiveness
Website development process: (7)
1. search (google, mobile apps, etc) 2. social media 3. content (webinars, case studies, etc) 4. other industry sources (experts, colleagues) 5. the salesperson (last)
What composes the purchasing process in today's age?
thorough contact information
What information gives the brand the most credibility on a website?
It has to be done with great concern for privacy.
What is a problem with adding social media data to the customer database?
role of the site
When setting objectives for a website, marketers must be concerned about the _______________________ in overall marketing strategy for the firm.
Websites
______________ still play a pivotal role for many brands as the hub for their content/transactional tools.
Mobile (apps)
_______________ marketing also facilitates relationship marketing
Transactional
_______________ marketing tends to have a short term perspective
Customer lifetime value
___________________ is the ultimate metric.
Relationship building
_________________________ is the logical replacement for traditional marketing.
Marketing Automation Software
__________________________ is essential to track and ensure right message is delivered at the right time.
Qualifying leads
asking a standard set of questions to determine needs and budget
CRM Software
enterprise wide software that aims to present a complete picture of the customer
Contact Management
modules for addresses, appointments, customer files
