BUSML 3150 Quiz 5, Ch 14-16 (KELLY)
benefits of digital marketing for sellers
- building customer relationships -offers sellers a low cost efficient speedy alternative to reach markets -online direct marketing results in lower costs, improved efficiencies, and speedier handling of channel and logistics functions
forms of direct and Digital marketing to build direct customer engagement and community
-Online marketing (websites, online advertising, e-mail, online videos, blogs) -Social media marketing -mobile marketing
well prepared consumer personas capture key traits of a targeted market segment
-constantly keep in mind when designing dig marketing strategy
addressing public policy issues in digital marketing (step 4 in digital marketing)
-consumer privacy -irritation, deception and fraud -data integrity and security -antitrust concern -the need for action
addressing public policy issues in digital marketing (digital marketing planning process step 4)
-consumer privacy -irritation, deception, and fraud -data integrity and security -antitrust concerns -the need for action
benefits of digital marketing for consumers
-convenient -easy -private -immediate and interactive (higher expectations) -access to a wealth of (1) products and (2) comparative information about companies, products and competitors
understanding digital marketing (digital marketing planning process step 1)
-defining digital marekting -exploring the new digital marketing models -exploring the benefits of digital marketing to buyers and sellers digital landscape digital consumers might b diff than overall consumers bc diff behaviors - digital persona
understanding digital marketing (step 1 in digital marketing)
-definining digital marketing -exploring the new digital marketing models -exploring the benefits of digital marketing to buyers and sellers
preparing for digital marketing campaign (step 2 in digital marketing)
-knowing the digital consumer -understanding consumer omni channel navigation behavior -using experimentation to understand what works
preparing for a digital marketing campaign (digital marketing planning process step 2)
-knowing the digital consumer -understanding the consumer omni-channel navigation behavior -using experimentation to understand what works
engaging directly with targeted individual consumers and customer communities (direct marketing) to:
-obtain an immediate response -build lasting customer relationships build customer engagement, brand community and sales ultimately work through the funnel and drive sales, awareness or purchase
employing digital channels in an omni-channel strategy (step 3 in digital marketing)
-using online, social media and mobile marketing -creating an integrated omni channel strategy
employing digital channels in an omni-channel strategy (digital marketing planning process step 3)
-using online, social media, and mobile marketing -creating an integrated omni-channel strategy
effective experiments 3 factors
1. hypothesis testing must be clear 2. metrics by which the experimental variables and outcomes are measured must be clear 3. reduce experimental "noice" or potential interactions between control and experimental groups can be used to assess effectiveness of anything -netflix title image for movies, A/B to see which gets more clicks
figuring out where to advertise steps
1. identify target and where they are spending time 2. where is competition 3. what's the best ROI
address consumer omni channel navigation challenges in 2 ways
1. research / understand patterns of consumer omnichannel navigation for brands 2.embrace concept of data fusion -resulting insights guide decisions related to influencing consumers with timely and relevant info -find balance between providing consumers with useful and relevant info and protecting their privacy -transparent about info collected and use -consent
understand what channel consumers are using at each stage of customer journey
1. track consumer in omni channel processes hard bc different channels/physical locations -digital technology can help track -cookies -apps track locations , intrusive and invasion of privacy 2.specific pattern of channel navigation varies across customers -customization , personalization with digital marketing 3. consumer decision process varies across buying stages and digital channels -maximize likelihood of purchase at each stage by offering relevant and persuasive info to consumers across stage
digital marketing planning process
1. understanding digital Marketing 2. preparing for a digital marketing campaign 3. employing digital channels in an omni channel strategy 4. addressing public policy issues in digital marketing
digital marketing steps
1. understanding digital marketing 2. preparing for digital marketing campaign 3. employing digital channels in an omni-channel strategy 4. addressing public policy issues in digital marketing
marketing websites (online marketing form)
1st step in online marketing, make website -vary in purpose and content -some websites primarily marketin gwebsites engage consumers tome them closer to a direct purchase or other marketing outcome
more than - percent of digital spending is allocated to paid channels
60 highest = social advertising , search advertising, banner ads for paid and seo for unpaid
programmatic media buying
Automated media buying that is managed by digital ad exchanges
digital age
Changing customers' notions of convenience, speed, price, product information, service, and brand interactions
New Marketing Communications Model
Consumers are changing. Marketing strategies are changing. Advances in digital technology
access by vulnerable or unauthorized groups
For example, marketers of adult-oriented materials and sites have found it difficult to restrict access by minors. underage users --susceptible to theft schemes, protect kids online
marketing websites
Interact with consumers to move them closer to a direct purchase or other marketing outcome look at -when going to sites -what they want -pull them thru the funnel
consumer privacy
Invasion of privacy is perhaps the toughest public policy issue now confronting the direct marketing industry -cookies, real time locations and apps -take advantage of so much info -consumers worry too- more willing to share personal info and preferences but still nervous -big data analytics -collect detailed behavioral data --solve unmet needs -potential for consumer abuse
online marketing
Marketing via the Internet using company Web sites, online ads and promotions, e-mail, online video, and blogs.
online marketing (1 digital marketing channel)
Marketing via the Internet using company Web sites, online ads and promotions, e-mail, online video, and blogs.
Blogs and Other Online Forums
Online journals of narrowly defined topics where people and companies post their thoughts and other content -podcasts
digital and social media marketing
Using digital marketing tools to engage consumers anywhere, anytime via their digital devices
social media advantages and challenges
advantages: -targeted personalized brand content with consumers and communities --interactive , immediate, timely -cost effective to use, high ROI -engagement and social sharing capabilities --involved with each other, brand, customers challenges: -user controlled -hard to get into digital interactions of consumers without invading -become valued part of online experience by developing a steady flow of engaging content -campaigns can backfire because users control media
online advertising (online marketing form)
advertising that appears while consumers are navigating websites or other digital platforms, including display ads and search-related ads -build brand sales and attract people to sites -major promotional medium 2 types
brand community website (online marketing form)
aim not to sell products but to present brand content that engages consumers and creates customer brand communities --rich variety of brand info/videos/blogs/activites/other features that build closer customer relationships and generate engagement get people to visit -aggressively promote websites in offline print, broadcast ads and ad links --minimum for website design: easy to use and visually appealing ---must be useful, interactive tools
apps and online sites
be smart provide useful info that make people want to engage --target mobile ads on an opt in only basis
blogs and other online forums (online. marketing form)
blogs- online forums where people and companies post their thoughts and other content usually related to narrowly defined topics promote blogs on socials to increase reach -influencer blogs --fresh original personal inexpensive to enter online and social media convos with consumers -engage in meaningful relationships -cluttered -if a consumer controlled blog, company has little control --listen to get valuable insight form consumer convos
expressions
brand related exchanges and responses such as comments, retweets, photo uploads, that advocate for the brand and share brand content on social media
Integrated Marketing Communications (IMC)
carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products
irritation, deception, fraud
clutter, annoying (ads and spam) -frauds, take advantage of costs of online info transmission -increase in digital fraud -scam artists targeted especially vulnerable people needing help business email compromised is a big concern
the need for action
concerns call for strong actions by marketers and policy makers to enhance benefits of digital marketing and reduce potential abuses (GDPR Europe) -data collection more transparent and consent based, actions not significantly decreased amount or detail of data collected --ask permission but we dont read (so increase in privacy regulation measures) --privacy rights especially for kids (children's online privacy protection act COPRA 1998) -marketers acting on own to monitor and prevent privacy abuses before legislators step in to do it for them --online ad principles through digital ads alliance --principle calls for online and mobile marketers to provide transparency and choice to consumers if online data are collected or used for targeting interest based advertising
empowered consumers generate more brand content than a company can
consumer co-creation and sharing of brand content -massive digital imprint
limitations of blogs and other online forums
consumer controlled less engaged inblogs
understanding consumer omni channel navigation behavior
consumers use of mulitple marketing channels, both digital and non digital across stages of the consumer buying decision process engage in many channels across stages of buying decision process, from initial info search and identifying purchase options to final purchase and post purchase engagement buying decisions and brand experience span marketing channels challenge for marketers
buyer benefits of digital marketing
convenient / easy / private anywhere, anytime access to an almost unlimited assortment of goods and a wealth of product and buying info interact with sellers videos, websites or mobile apps to create exactly the configuration of info/propducts or services they want, order on the spot, and have delivered quick benefit from increase in price competition product comparisons easy for consumers and competitors -companies try to match or beat prices -increase in price competition = lower prices for consumer expect comparable prices online and in store online prices reflected in store often sense of brand engagement and community -place to share brand info and experiences with other brand fans
owned media
corporate (websites and videos) retail public relations direct response digital/mobile (emails, e comm, website, blogs, catalogs)
digital marketing has always been scalable
cost per click to have ad there thus, make informed decisions about where , how, how much spending on digital marketing -decide with experimentation
Omni-channel retailing
creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping
accuracy of personal data
data wrong, affect website reputation, hard to set right -bigger prob for businesses (reps can be intentionally smeared by comp or vengeful customers) -online reputation management brand to help
digital consumer persona
detailed, nuanced, and tangible representation of prototypical consumers to be targeted by a digital marketing campaign
digital consumer personas
detailed, nuanced, and tangible representations of prototypical consumers to be targeted by the digital marketing campaign apply advanced marketing analytics to wealth of available consumer data to develop these must have deeper details relative to how consumers seek and consume certain types of info/their preferences for info across platforms, location related habits and other characteristics
online display ads (online advertising type 1)
digital ads that appear anywhere on an internet or mobile user's screen and are often related to the information being viewed -incorporate animation/video/sound/interactivity -pay to play in many digital forums --buying is complex --want ads to pop up instantaneously on right web to be viewed buy right consumer at right time --buying and selling in digital space involves software with complex algorithms that broker ad space in real time -can be automated process --dig ad exchanges bring together advertisers who want to buy digital ad space with websites and other media, platforms that have space to sell
experimentation
digital environment friendly it -quickly, easily manipulate treatments across customer group with readily measurable results -quickly run multiple experiments - A/B testing to identify / refine which tactics work best before making significant investments in them
fastest growing form of marketing
digital marketing
early direct marketing
direct mail and catalogs analog format cons: nature and economic limitations content fixed, cant be changed until replaced consumers cant respond quick
digital marketing is a form of - -
direct marketing (some people going back to traditional marketing - mail - to break through clutter)
consumers in a bind
fear intrusion but cant live without devices
mobile marketing (digital marketing type 3)
features marketing messages, promotions, and other marketing content delivered to on-the-go consumers through their mobile devices -engage anywhere , anytime stimulate immediate buying, shopping easier, enrich brand experience -info/incentives/choices at right moment in purchase process -rich media mobile ads -> substantial engagement and impact in moment with relevant features and offers that enhance brand relationships and buying experiences -mobile devices are personal and ever present, always on -individualized time sensitive moments that matter -some apps are brand specific -personalize promotions and weave into relevant everyday customer experiences challenge for marketers: -develop valued mobile offers, ads and apps that make customers want to come calling
1st step in preparing for digital marketing campaign involves
getting to know the digital consumer in detail -marketing research -> consumer insights that guide the design and implementation of digital marketing campaigns -research concepts particularly important in digital
to reduce irritation deception and fraud
gov and law enforcement agencies have introduced consumer protection measures and stepped up enforcement
functions of social media
image and video platforms -visual story telling, brand personality, introduce product , collect ideas social book marketing platforms -save for later (tabs) - pocket -deep insight into preferences, then sponsors timely brand related info form saved content influencer platforms: -hypetap, klout -influencers to market stuff messaging platforms: -kik, mechat -communication and engage crowd funding platforms: -kickstarter to raise capital from investor communities for new ventures -go fundme blogs and microblogs: -twitter, hyper efficient blog -disseminate important info, respond, no press release -wordpress location platforms: -digital location stickers -restaraunts, stores, other commercial locations can share photos and vids -location based coupons niche working platforms -social network, niche, shared interest wikis -collab knowledge networks managed by public service networking platforms -support social communities that link service providers and consumers (99 designs) reviews and ratings platforms event platforms -eventbrite live streaming platforms -hgihly targeted ad/sponsorship opportunities
security of data stored
in digital repositories based either online or in cloud -justified fear by number of breaches
marketing spending on digital platforms
increasing
social media (social media marketing form)
independent and commercial online communities where people congregate, socialize, and exchange views and information -marketers follow where consumers congregate -media platforms adapting to better support marketers -monetization challenge: ---profitably tap marketing potential of massive communities without driving off loyal users. convert activity into sustainable profits without alienating users using social media: -substantial brand communities --deep engagement / shared community -bigand small --can cater to niche communities types and functions: understand functional capabilities of different platforms
social media
independent and commercial online communities where people congregate, socialize, and exchange views and information -who we follow, what looking at, time spent looking at things -microinfluencers
digital marketing is - -
information intensive -can penetrate time, space barriers that create big hurdles to conventional marketing techniques
data fusion
integrating data from different sources, like cookies, location tracking, website and mobile navigation, credit and loyalty car usage, consumer research and others, to build a comprehensive picture of consumer omni channel behavior
direct and digital marketing
involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships
Search Engine Optimization (SEO)
involves sourcing, structuring and presenting all the company's websites and mobile info in a way that the search engine evaluates it fast as relevant , useful, for consumers selected and ranked by googles sophisticated algorithms as those most useful/relevant to the search term at top: paid search ads must be easily found online
real time marketing
links brands to important moments and trending events in customers lives -powerful tool for building ongoing engagement, community and personalized relationships --engage in moment by linking brands to trends --exciting opportunities to extend customer engagement and get people talking about brand
ad option icon
little I inside triangle, can opt out, behaviorally targeted ad
seller benefits of digital marketing
low cost, efficient, speedy alternative for reaching markets --traditional store route/shelf space not option for new/small companies (time, effort, financial resources low) online forums to increase consumer engagement and improve customer service -reduces support costs flexibility to make ongoing price adjustments and programs to create immediate/timely/personal engagement and offers - how tos positive word of mouth (companies with compelling value propositions) -reviews positive on trusted sites (yelp) --new customers and increased profitability shorten consumer decision journey of considering multiple brands/evaluating them, purchasing one, potentially bonding with brand after purchase --substantial time spend in consideration / evaluation phases --brands can place persuasive info in front of customers and right place/time ---shorten decision process, bypass lengthy phases, purchase decisions mentally easier to justify and more impulse based opportunities for real time marketing
complete business model is digital
no brick and mortar presence purely digital products (Netflix) expedia
digitally formatted information/marketing
no significant physical forms/mass stored and read from electronic media unshackled pros: -transported / shared/ charged / analyzed / used for decision making across electronic networks -flexibly at lightning speed and near 0 cost -continually adapt -consumers can respond quick with buy button tech needed to manage/exchange digital info (computers, devices, databases, digital networks) have progressed quick -propelled dig marketing
benefits of blogs and other online forums
offers a fresh, original, personal and inexpensive way to enter into consumer online conversations
three types of digital marketing
online social media mobile marketing
paid search ads
paid ads that appear when a user enters a search term sold same way as digital ad space -prepare list of key words and bid on ad placements to appear as sponsored link (you pay per click) site decides based on relevance of ad to search and amount per click (1-3$)
forms of media in the promotional mix
paid media, owned media, earned media
data integrity and security
personal and finance info worry --online shopping --increase in tech, increase in potential hackers, and access to home or info, remote access to peoples cameras
brand community websites
present brand content that engages consumers and creates customer community around a brand
paid media
print tv/radio location based (billboards, kiosks, and transit) digital / mobile ads (paid search spots)
earned media
publicity word of mouth social media interest sharing (YouTube, Pinterest, instagram)
direct to consumer brands (DTC)
sell material products but avoid direct competition with established traditional brands by selling only through online and mobile channels and shipping purchased products directly to consumers (dollar shave club, peloton) with digital platforms, cut costs and lower prices offer greater convenience build direct relationships with customers deliver more personalized offerings some adding traditional channels now
email marketing
sending highly targeted, highly personalized, relationship-building marketing messages via email
email marketing (online marketing form)
sending highly targeted, highly personalized, relationship-building marketing messages via email 1$ with 42$ return -info with customers, like when personalized to shopper -small medium businesses rely on email as primary customer acquisition channel -low cost and high target ability, good return on investment -well designed, inviting, interactive -fine line between being intrusive and annoying, permission based emails usually
antitrust concerns
size/dominance gives monopoly power (google amazon) -monopolistic market concern --limited product variety, and high prices in absence of robust connection
online videos (online marketing form)
some tv ads posted before and after campaign to extend reach and impact -others are made for the web/socials 80% of internet traffic -multiplatform video campaigns across media
digital marketing channel type
supplementary channel to sell direct to consumer for company OR complete model for doing business OR complementary function that works with other channels to deliver value to customers many use as supplementary channel for sales -sell majority on shelves but also online others: complete business model
other digital platforms perform COMPLEMENTARY FUNCTION
taking on specific marketing tasks that can be done more efficiently or effectively globally
location based digital marketing
targeted offers/messages
search-related ads (contextual advertising) (online advertising type 2)
text and image based ads and links appear atop or alongside search engine results -google ad words -second set of results are organic search results, mentions not paid for by a company or brand want brands tp appear on top
viral marketing
the digital version of word-of-mouth marketing: videos, ads, and other marketing content that is so infectious that customers will seek it out or pass it along to friends give brand a voice, create positive brand associations message itself has to strike a chord
promotion mix
the specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships
phishing
type of identity theft that uses deceptive emails and fraudulent web and online mobile sites to fool users into divulging personal data -costly -damages brand identities if brand email
spam
unsolicited, unwanted commercial email messages
Digital Marketing
uses tech intensive platforms (internet, mobile networks and devices and social media) to engage with individual consumers, consumer communities and businesses -provide info, build engagement, persuade customers, induce brand purchase and ultimately drive long term, profitable relationships 2 way convo w consumers
social media marketing (2 digital marketing form)
utilization of social media or social networks to market a product, company, or brand
