MKTG 455 final
As the budget increases, this company should continue to allocate additional funds toward email until the marginal return drops below the returns exhibited by paid search at the top of the paid search curve.
At this point, some of the additional funding should go toward paid search. The share of funding between the two channels should be allocated, so the marginal return is equal between the two channels.
AIDA model
Attention Interest Desire Action Model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message.
AIDA MODEL STAGES
Demand generation, demand harvesting, loyalty building
Social media plan steps:
Determine the Objectives Choose the Platform Plan the Content Distribute and Promote the Content Measure Success
Creating Customer Loyalty
Loyalty communication: -Enhance customer service -Cost-efficient -If the product meets or exceeds expectations and/or the customer service is good -marketing communications can often enhance product-focused or customer-service-focused efforts to build customer loyalty. Loyalty: -Purchase breadth: is the variety of product lines that a store offers. -Purchase frequency: is the number of times that a customer makes a purchase in a given period of time -Purchase amount:how much someone has spent
Mobile Website vs Mobile App
Mobile website: -Accesed through browsing -static, navagational user interface -requires connection -somewhat limited features Mobile App: -Accessed after being installed -interactive user inerface -available offline -can make use of phone feautres like location services, camera, etc.
types of onboarding emails
New sign-up: -Less knowledgeable -More curious -More responsive Types of Onboarding:Emails: -Welcome -Informational/Explanatory -Re-engagement/Next step -Promo offer/reminder -Social invite
Applying the Framework
Prioritize marketing efforts•Allocate resources across channels•Monitor and adjust
For all of the channels except
SEO, marginal returns uniformly decrease as investment increases. (It is typical that return on investment in any channel decreases as the level of investment increases.
Demand Generation is information-based; Demand Harvesting is being in front of the right customer at the right time. a.true false
True
Geo-fencing
allows advertisers to target ads based on a distance radius from a specific location.
The most significant difficulty in this process is the allocation of
budget to SEO. Returns on SEO are zero for the first dollar spent on it and continue to earn very low returns at low levels of investment. But when the company's total marketing budget increases beyond this small amount, it should invest heavily in SEO.
transactional
customer makes a purchase, but doesn't sign up for email list Ex: confirmation of order, shipment, delivery
. All of these are strategies to create customer loyalty EXCEPT... a. Purchase breadth b. Purchase frequency c. Purchase amount d. Loyalty communication e. Demand creation
e. Demand creation
Say you are shopping in a Wal*Mart Superstore. Your phone beeps and you are offered a discount on a complimentary item to one you already have in your cart. This is a type of what kind of mobile strategy? a. Geo-location b. Demand generation c. Promotion marketing d. End aisle display e. Push notification
e. Push notification
triggered
email sent based on customer action -Abandoned Cart: Remind customer of product and Offer coupon? -In-store purchase: Receipt and Complementary products•Past purchase -Provide a review: Provide feedback on shopping experience
Onboarding -
email sent to new customer -Ex: welcome offer, invitation to sign up for social media or app
brand-centric demand generation
would focus on increasing a consumer's desire for product features unique to the brand
Product-centric demand generation
would focus on increasing a consumer's desire for the benefits of the product category
From the movie the social dillema, please describe how the advertising model works on most social media platforms?
"The Social Dilemma" explores how the Internet's most popular products work on a basic business model of tracking users' behavior in order to sell targeted ads and induce addiction in a vicious cycle.
1st step: Determine the objective (Social media plan)
(1) Find new customers through: Social Media Posts, Social Media Ad, Search Engines (by way of social media) (2)Increase customer loyalty through: Social Media Posts, Social Media Ads, Social Monitoring (3) Gain customer insights through social listening
Demand Harvesting
-"Pick me!" -Removing obstacles -is being in front of the right customer at the right time. -Demand harvesting consists of any activity that increases the likelihood of securing a purchase from a potential customer who already wants the product.
Mobile Behavior
-"What can you do for me right now?" (Impatience) -"Let me check." (Quick, frequent usage) -"Ooh, a video!" (Video effectiveness) -"Where?" (Location)
linkedin strenghts
-Being the largest social media platform oriented toward professional networking, LinkedIn is vitally important to many working professionals, which also makes it a great target for many businesses. -LinkedIn can also be a great source for attracting top talent for job openings.
Co-created content (Plan the content)
-Co-creating content with other brands can yield benefits for both of the participating brands, because both brands get exposure to the other brand's followers. -combining creative forces can help a company create unique content. -widespread on YouTube.
Desktop weakeness
-Desktop users log fewer sessions -Slower -not as Convenient -not Portabale -No Ease in sharing content - not a user experience -not comfortable
cost efficency Social Media Posting.
-In the early days the idea was that by earning followers to their social media accounts, they would have highly effective ads appearing to a concentrated group of customers at zero cost. But Those returns have only decreased over time as social media platforms increasingly limit the exposure of content from corporate pages. -While a select number of companies have earned huge returns with viral social media content, these runaway hits are exceptions, not the rule. -Unpaid social media content tends to be more productive for loyalty building efforts than for demand generation or demand harvesting.
Demand Generation
-Information-based -Generic to brand-directed -Demand generation consists of marketing activities that increase a potential customer's desire for the product or service. -Demand generation can be product-centric or brand-centric
Mobile Constraints
-Less information -Slow typing -Fat-finger clicking -Slower processor -Slower internet connection
Optimization Obstacles
-Limited investment levels -Changing returns -Measurement difficulty -Cross-channel interactions -Attribution inaccuracies -Marketing strategy implementation
desktop strengths
-More information -Fast typing -Faster processor -quicker internet connection
Success measurements of email marketing
-Open Rate = Emails Opened/Emails Delivered• -Click-through Rate = Emails Clicked/Emails Delivered -Conversion Rate = Transactions (Orders)/Emails Clicked
snapchat strengths
-Snapchat has by far the youngest user base of all the popular social media platforms, -higher engagement rates with Snapchat videos than with videos on other social media platforms. - Third is video editing. Because of the easy-to-use video and picture editing options This provides a unique opportunity for advertisers to engage Snapchat users with creative content.
Mobile strengths
-Speed -Convenience -Portability -Ease in sharing content -Improved user experience -Often more comfortable and ergonomic browsing experience
Instagram strengths
-With 1 billion monthly users that are younger on average than Facebook's users, Instagram is a top social platform for reaching the coveted 18-30-year-old demographic. -Instagram is where influencer marketing is most widespread
What should good subject lines have?
-add personalization -Be descriptive -Keep it short -Limit punctuation -Use emojis carefully -the most effective subject lines all have one thing in common: they are accurate and informative.
User-generated content (Plan the content)
-any content created by platform users. -Often, companies invite customers to create content around a particular theme and then either (1) choose some of the best submissions to be reposted by the company or (2) encourage customers to use a particular hashtag so that the users' content will automatically be linked via the hashtag. -Adv: company expands the amount of potential content to use, but the company also personalizes the connection it has with its customers. -Disv: customers often do not have an incentive to respond to the company's request for content. customer will not generate content unless they have an intrinsic motivation or a sufficient extrinsic motivation
cost efficnecy Search Engine Optimization
-can produce extremely high rewards. -Once a good organic search rank has been achieved a proverbial gold mine appears — high customer concentration with high exposure effectiveness at zero cost per exposure. -The amount of employee time and effort required to achieve good search rankings is typically quite high, with a delayed and uncertain result. -constant effort is required to maintain those rankings. -Well-executed SEO is typically a worthwhile activity for most companies, but it has a number of difficulties: (1) delayed results, (2) uncertain results, and (3) hard-to-measure costs per exposure. These difficulties make it hard to measure the return on SEO investment and to determine the optimal amount of SEO investment.
Curated Content (Plan the content)
-companies can also post content created entirely by another entity -Company social media profiles can post curated content to supplement their original and co-created content, but curated content should typically be only a small proportion of the content. -ex. On Instagram, many profiles (particularly in the travel sector) do not create any of their own photos or videos but merely post pictures taken by other Instagrammers.
Pintrest strengths
-content consumption is accelerated even more because most content is visual rather than verbal. -People can process pictures much more quickly than they can process words, so Pinterest users can browse large amounts of content quickly. -This speed of use has made Pinterest the preferred social media channel for millions of users. -Pinterest users also have higher income levels than on other platforms and more woman based
Orginial content (Plan the content)
-content that is original to the company. -The main advantage of original content is that the company is not limited by outside entities and retains complete control over the messaging and creative content of its posts.
cost efficency Paid Search Advertising.
-customer concentration and exposure effectiveness of paid search advertising is extremely high. -The cost per exposure is determined via an auction, which means that valuable keywords tend to cost more. -Advertisers who can generate a high conversion rate (a high percentage of website visitors making a purchase) can often count on a steady stream of profitable website visitors from paid search ads. -Other advertisers who have not refined their purchase funnel have difficulty earning a positive return on even the best keyword targets. - An important advantage of the paid search channel is that the returns are often immediate because a search on a particular keyword indicates purchase readiness.
cost efficency of email
-email is often an extremely profitable tactic -Cost per exposure is extremely low. -The customer concentration tends to be high — recipients likely consented to emails because they had an underlying interest in the product or service. -the exposure effectiveness is typically high because the customer gives the email dedicated attention.
cost efficency Social Media Advertising.
-enables smart advertisers to achieve an impressive level of customer concentration. -This advantage combines with high impression effectiveness because most social media ads command the user's direct attention. -Cost per exposure has steadily increased over time, but many advertisers across a wide variety of industries and customer types earn positive returns on social media ads.
cost efficency Display Advertising.
-exposure effectiveness is typically low. -However, these ads also have low cost per exposure, and display ad networks offer a number of targeting options that can produce a high customer concentration. -Retargeting, a technique whereby advertisers show ads to previous website visitors, produces an especially high level of customer concentration, harvest-readiness, and often positive returns.
2nd step: Choose the platform (Social media plan)
-for first time customers: primary platform= Youtube and secondary platform= instagram -For customer loyalty: primary platform=pintrest, snapchat and instagram and secondary platform=Linkeldin -for SEO: primary platform=facebook and secondary platform=twitter -for advertising: primary platform facebook and instagram and secondary platform=youtube -for reputation management: primary platfrom=review websites and industry forums like Yelp and the secondary platform= twitter and Linkedin
twitter strengths
-highly active users -more like a public message board, -Not only does achieving a retweet give a company added exposure, but it also advertises the Twitter account, likely leading to additional followers. - Twitter account with compelling content can sometimes naturally grow to a huge number of followers -content on Twitter is so succinct, companies can afford to tweet more often than they might post on other social media platforms
Facebook strengths
-its large user base -its high engagement with users -ownership of other prominent social networks (Instagram and Whatsapp). -Facebook's advertising platform is the most sophisticated of any social network. Advertisers can target highly niche segments of potential customers and the advertisements' prominent placement in front of Facebook users often leads to a good return on advertising expenditures.
Social Monitoring (social reputation management.) benefits
-respond to all comments both positive and negative on social media. -By responding to positive comments, these positive comments about the company are amplified. -By responding to negative comments, the company shows that it strives to fix problems and thereby can often prevent negative events from escalating into social media crises.
social listening
-scraping all mentions of a company on social channels -Coding the mentions as positive, negative or neutral -Summarizing the average sentiment about your company
Social Monitoring (social reputation management.) downfall
-social reputation management requires significant resources -any communication from a company's social media profile is considered by consumers to be a communication from the company itself, not just a conversation with a company employee.
Youtube strenghts
-the least social of the social media platforms is YouTube -ad revenues on YouTube have increased -YouTube is an international video platform. -the content on YouTube is more straightforward than the content on other platforms.
3rd step: Plan the content (Social media plan)
1.Original Content 2.User-generated Content 3.Co-Created 4.Curated
Social Media Style Guide (plan the content)
1.Tone 2.Legal criteria 3.Response guidelines 4.Formatting guidelines -twitter= 280 characters -FB=1-2 sentences -insta= 1 sentence or short phrase and emoji Write short but smart
The majority of internet traffic worldwide is still conducted via desktop?
False Its mobile
When you collect content from outside content creators, it is called Co-Created Content? a. true b. false
False: It is called "Curated Content".
Social Listening vs Social Monitoring
Social monitoring is identifying and responding to individual brand mentions on social media. Social listening, on the other hand, is collecting data from those social mentions and broader customer conversations, and pulling insights from them so you can make better decisions for your customers
What Is Digital Strategy?
Strategy MarketingStrategy DigitalStrategy DigitalExecution
Broadcast Emails -
sent to the whole customer list at regular intervals
what is the most important part of the email
subject line
