MKT 6321 MidTerm

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Tips when Testing the Offer

Test only one feature at a time; if multivariable, the marketer needs to be experienced and also have a large volume of data/traffic when different types Code your test so you can measure results - urls, special toll free number, match codes, different coupon codes

Strategy

Who is responsible - Upper management Time frame - Longer Tools - Market Research, customer and market data analysis. Then use of strategic techniques such as Porter's Generic Strategies, Ansoff & GE matrix Activity type - Mainly planning/monitoring Competitive risk - Harder to copy Traits - More high level-the "what"

Tactics

Who is responsible - Mid to lower level managers Time frame - Shorter Tools - Email, PPC, SEO, Social media, UX, mobile, web analytics, conversion optimization, SMS, etc. Activity type - More operational-execution Competitive risk - Easier to copy Traits - Process oriented-the "how to achieve"

Brand advertising can best be characterized as _______________. focused on mobile focused on increasing CTR focused on increasing conversions focused on increasing awareness and interest

focused on increasing awareness and interest

Which of the following keywords is a good example of a long tail search? a. "organically buy" b. "buy organic food plano" c. "buy" d. "buy now"

"buy organic food plano"

SEO can be described as a. Paid ads b. Behavioral targeting c. Local search d. Improving organic search results

Improving organic search results

Digital Experience Journey

- Sometimes companies may create an "experience" only journey vs. buying stages

The Customer Journey

- This data comes from surveys of current customers data from online tools (e.g., Google Trends) and your own online/offline data-may need more than one journey if different buyer personas - Audit each step, see where problems are occurring, decisions being made & where opportunities may exist

What is a Strategy?

- To be effective it cannot be "All Things to All People" Should address these questions: 1. What do we do? 2. Who is our customer? 3. What business are we really in?

3 Key factors to consider when designing a website

1. Design - brand colors, what functionality is needed, templates to use for different types of pages (ex: ecommerce) 2. Search engine friendly - some websites have out of the box user friendly features such as urls that are not dynamically generated 3. Usability - but with conversions as the end goal; design for key user personas

Typical Campaign

1. How much budget do we have? 2. Usually it's about targeting a generic sector such as women 25-40 making over $50k 3. Campaign: create and place display ads on FB and Google, spend $37k 4. Hope for the best. If it fails, blame the economy, the competition, or the manager Result: if you get a 0.2% response rate you might be out $37k

Steps for a ROP campaign

1. Know your current customer defection rate and share of wallet - maximize and/or improve this first 2. Don't choose target segments based on your instinct - conduct market research and look at your data then select a highly responsive and profitable segment 3. Know both your CAC and CLTV to determine how much you should be spending to acquire a new customer

Return on Promo Campaign

1. Retention analysis 2. Make sure your target segment is actionable and profitable. Strong positioning 3. Perform a return on promotion 4. Design campaign: score leads 5. Test before spending large amount 6. Analyze results: adjust and test, larger volume or cancel the campaign Result: if you get a 0.2% response, you might be out $700 because of limited placements

Best Payback in Digital-General Rule

1. Usability-UX 2. E-mail, SMS & Push 3. SEO 4. PPC 5. Social Media Considerations: Is it owned, earned or paid? ... where do conversions occur?

Google says there are over ____________ factors that influence a search engine's algorithm and what placement a website will rank for with a particular keyword. a. 200 b. 20 c. 100 d. 5

200

When writing for the web, which of the following is a best practice? a. A continuous block of text b. A call to action placed above the fold c. Using reverse type throughout d. All of the above

A call to action placed above the fold

Where do website visitors look?

Above the fold 80% of their time. Below the fold 20% of their time. make sure CTA is above the fold

Company Site

All digital initiatives should include a core goal of getting the user to the company website. The company site should fulfill business objectives. This strategy will allow you to get the most out of each initiative, as well as your company site.

The following is not a typical or best practice website convention: a.Horizontal or vertical navigation b.Breadcrumbs c.At least five second page load times d.Links are easily recognized as clickable

At least five second page load times

Secondary Data

Authoritative Blogs e.g., MOZ Google Trends & Correlate Platforms: e.g., SEMRush, AdWords Keyword Planner Syndicated Market Research e.g., eMarketer White papers e.g., Nielsen

The Quality Score is determined by all of the following except for the _________. Landing page relevancy Ad text relevancy Keyword CTR Bid amount

Bid amount

Which technology might finally allow advertisers the possibility to scale and pay consumers to view their ads? a.Blockchain b.users geo-location using GPS c.PPC d.Big data

Blockchain

The ideal acquisition cost for a prospect is best expressed by this ratio a.2X your average net profit b.CLTV to CAC 1:3 c.CLTV to CAC 3:1 d.Breakeven

CLTV to CAC 3:1

A customer journey examines all of the following steps except for a.Awareness b.Purchase c.Collaboration d.Decision

Collaboration

Mindset for tactical success in digital marketing

Conversion focused - regardless of weather it's SEO, PPC, social, you must quantify the initiatives contribution to sales and ROI Key metrics - There are many metrics in digital marketing when doing web analytics, however the overarching metrics is make sure you know your breakeven points, cost to acquire a customer and CLV. Split selling - Many initiatives especially when doing website or app usability/conversion optimization or PPC must be decided after conducting split testing

Discussion of Short vs Long Copy

Copy = words on your page, article Longer online copy allows you to foster a relationship with a reader - needs to be somewhere on your site - very important for SEO, for that reason alone good to have With longer copy able to establish a voice and a personality to make your copy more convincing and personal

Ratio of CLTV to CAC 4:1

Could be underinvesting in promotions, might need to be more aggressive and be close to 3:1 so you're acquiring as many customers for healthy growth

Under the 40/40/20 rule, which element is the least important? The offer Target audience or list Creative All are equally important

Creative

Porter's Generic Strategies 22 -Company level

Differentiation Low Cost Focus-Segmentation

Digital Strategy—the End Game

Earned- not paid-organic Facebook, Twitter, Instagram, Pinterest, YouTube, SEO, etc. Paid Media Search or Display ads (e.g., be it on AdWords, Facebook, Twitter, website banner ads, etc.) Owned E-mail, Blog, SMS, Push notifications *Sending them once on your website, back to "earned" platforms a big mistake

Common Reasons for Poor Search Results

Every ecommerce platform is different so you need to know which data fields are used by your platforms internal search engine and then make sure that every product gets tagged/classified accordingly.

All of the following are critically important components to obtain good SEO results except for a. content b. links c. the title page d. Facebook

Facebook

Product differentiation must always be real and not just a perception

False

The ideal LTV to CAC (customer acquistion cost) ratio is 1:1

False

What does structured data in SEO do? a.Helps with Hummingbird b.Highlights your website in prominent part of SERP c.Prevents competitive SEO rankings. d.Generates real time results

Generates real time results

How to Design an Experiment - Split Test

Have a control and test A/B or multi-variate (need a lot of traffic for this type of test) Randomization Statistically valid sample size

Navigation Best Practices

Horizontal and/or left hand vertical Avoid clutter - clean design, user must get it in 3 sec Breadcrumbs

Cost of Customer Acquisition (CAC)

How much should I spend to acquire a customer? First step is to calculate your CAC = MCC/CA

Which of the following is an example of vertical search? Selected a.Results that appear in vertical order vs. horizontal b.Other platforms that have some search functionality such as Facebook c.Image search d.a website's internal search

Image search

Credibility Test

Key cues visitors use to determine the credibility of a website: Are phone numbers/addresses visible? Informative and personal about us. Feature genuine testimonials. Feature logos of associations and awards. Keep content fresh and updated. Ensure that your site is free of errors including grammatical/spelling. Include a portfolio of past work.

Lead magnets - a UX tool

Lead magnets are configurators or tools which either you create or leverage from 3rd parties The objective of lead magnets is to offer very customizable info to help prospects stay longer on your site, thus not going elsewhere to look up info and this are more likely to convert

What Strategy Is Not...

Let's do a viral YouTube campaign...or everyone is using Instagram, Snapchat etc.-we need to jump in Let's be the Apple of toothpicks, staples, etc. Launch now... we will figure out how to make money later Make it free....

Primary Data (user)

Listening Labs/UAT Surveys Panel data Testing-split A/B Transactional data Web Analytics

Ratio of CLTV to CAC <1:1

Losing money at an accelerated rate

Ratio of CLTV to CAC 1:1

Losing money, maybe breakeven

Ratio of CLTV to CAC 2:1

Marginal returns

Net Promoter Score (NPS)

NPS = % promoters - % detractors represented as an absolute number, not a %. If 25% promoters and 15% detractors score is +10

Ratio of CLTV to CAC 3:1

Optimal level

What is the best definition of Augmented reality a.simulation of real images b.Augmented audio sounds c.Live video d.Overlaying data on live images

Overlaying data on live images

Which is NOT a key localization driver? directories behavorial factors Local reviews PPC ads

PPC ads

7 p's of Services marketing

People - customers, employees, social interactions, roles & scripts, relationships Physical evidence - facilities, equipment, uniforms, symbols Process - In today's tech environment, the process aspect will play an even larger role, ex: marketing automation Promotion Product Price Place

The following is an example of a possible strategy a.Spending 60% of the marketing budget on Facebook and Google ads b.Product differentiation c.An engaging social media competition d.Develop a Mobile app for our target audience

Product differentiation

Which of the following best describes the key objective of Hummingbird? a.Promote semantic search b.Detect Black hat tactics c.Reward white hat tactics d.Leverage vertical searches

Promote semantic search

3-D printing has what marketing application/use case? a.Augmented reality b.Cost efficient printing c.Rapid prototyping d.Gaming

Rapid prototyping

Programmatic can best be described as ___________ personalized ads Real time ad auctions Computer programmed ads Weather driven ads

Real time ad auctions

Writing for Online

Research and understand target audience If writing for a client - understand their corporate "personality" and customers Online copy is judged first and foremost on its layout, regardless of the content It should be easy for users to skip and skip the copy effortlessly finding the parts that are most relevant to them Use reverse type very sparingly Good font size (12+) and good spacing between characters Write for online, not for print: subheaders, CTA above the fold, bulleted lists, short paragraphs, simple writing style and defluffed language devoid of acronyms and hype such as state of the art

In remarketing what do you do? a.Reactivate former customers b.Ask them to opt-in to your email newsletter c.Show those who visited your website ads at a future time and place d.Follow up with a call or visit

Show those who visited your website ads at a future time and place

Which of the following is an example of primary data? a.Adword's Keyword Planner b.Split A/B testing c.Google Trends d.Syndicated market research

Split A/B testing

Which use case does VR have an edge over AR in? a.Retail sales b.Therapeutic role playing c.Driving assistant-windshield d.A guide while operating on humans

Therapeutic role playing

Robust search best practices

Top part of each page Label with magnifying glass or "go" Autocomplete feature - key for mobile users Allow refinement - see Home Depot example next page Test it! Many ecommerce platforms and website can generate bad or incomplete results if not set up correctly

The correct formula for Calculating the CAC (cost to acquire a customer ) is? a.Promotional expenses/ROI b.LTV/Cost to acquire a customer c.Total marketing campaign costs to acquire a customer/total customers acquired d.Revenue-Cost of goods on a per acquired customer basis

Total marketing campaign costs to acquire a customer/total customers acquired

The allowable is one metric used to determine what conversion rate you need to break even

True

Informational Conversions

Types of companies: CNN, Wall Street Journal, Blogs (often they are free to users and sell advertising); Some mainly Fortune 500 type companies are purely informational not even for leads such as Exxon, GE, Caterpillar Main conversion types: Number of unique visitors, time on page, number page views, clicks on ads. A few like WSJ have subscriptions to access certain content

B2B Lead Gen Conversions

Types of companies: Sometimes they also do ecommerce but more often due to high dollar amount its to get leads - NEC. Some use it to get leads then referred to their distributors like Lennox, Carrier Main conversion types: Form completion so they can be contacted

Ecommerce conversions

Types of companies: e-tailers such as Amazon, Walmart, eBay, etc. Main conversion type: purchases (can be physical or virtual products)

CLTV

Unfortunately, many different ways to calculate CLTV. Some models are poor in that they do not look at key variables. Stay away from simple formulas. At the minimum, make sure the CLTV model includes: average gross profit per customer, retention rate, present value over some long time period Snapshot customers who started Year 1 then follows them plus referrals Exclude delinquent or inactive customers

What do digital marketers test?

Usability Market segments Product A vs B Form submissions CTAs Offer A vs Offer B Compare media vehicles (SEO vs PPC vs Twitter vs FB) Timing (Weekday vs weekend, AM vs PM) Look for insights in web analytics data, then test your hypothesis

UX

User experience beyond usability, creates that customer connection. Ex: Those who bought x also bought y

Emulators

Users have different operating systems and browsers (devices-tablets/phones)

Responsive design can be described by all of the following except for: a.Uses CSS b. Uses Html-5 c. Allows a website to be rendered correctly in all devices d. Uses Flash

Uses Flash

Referral-Viral Coefficient

Viral coefficient is a referral metric on steroids, but difficult to achieve Used by SaaS, gaming, and mobile app marketers Coefficient must be greater than 1 for viral growth Pros: If little to no marketing budget and in one of these businesses - very important! Cons - Not changed by promotional efforts; driven mainly by products/service and how satisfied customers are

Responsive Design

Website renders well in any type of device and browser Avoids needing a separate website Endorsed by Google WebMaster tools Downside - sacrifice user experience, image problems and extra coding Sometimes hard when thousands of skus, but coding gotten better HTML5 CSS3 Avoid Flash, excessive JavaScript, frames

in Google Adwords, your campaign structure is to a great extent driven by which of the following? Amount being bid for each click Your website's categories structure Number of products you have If paying based on per click vs for impressions

Your website's categories structure

Can-Spam can best be described as a. a filter b. an ISP block c. an opt in system d. a law that tries to reduce and prevent unsolicited emails

a law that tries to reduce and prevent unsolicited emails

Marketer skills needed

a) Data analysis-leverage A.I.- predict & understand needs b) Understand processes & flowcharting c) Creating customer & experience journeys

AdSense can best be described as _______________. advertising in the Google display network behavioral display ads YouTube advertising SEO

advertising in the Google display network

All of the following are almost mandatory components every email should have, an example of an optional component would be a.the header b.the subject line c.an image d.the unsubscribe link

an image

SEO can provide better results than PPC because a.None of the above b.it can be used jointly with social media c.the budget can be easily changed d.approximately 70% of users click on organic vs. paid search results

approximately 70% of users click on organic vs. paid search results

What does a DMP do? a.a website's consumer database b.creates blockchains c.automatically bids for ads d.collects, categorizes and analyzes large volumes of data

collects, categorizes and analyzes large volumes of data

heat maps

eye tracking or clicks use it to guide your layout Lower right of screen seldom looked at

Google display has much better targeting data than other platforms such as Facebook

false

Heat maps are only used to identify problem areas.

false

The main goal in ad copywriting is to focus and list your product features

false

Why is SEO getting harder to do? a.can cost a lot for each click if no conversions result b.in many categories maps, ads, reviews take up "above the fold" space c.it can be considered spam d.it only works if done using social media

in many categories maps, ads, reviews take up "above the fold" space

Good usability/UX

not always equal to a high converting website but is a prerequisite

Which best describes the definition or concept of an audience in digital marketing? a.demographics b.users living in a certain geographic location c.those willing to listen to your marketing message d.real time segments

real time segments

All of the following are examples of secondary data except for a. surveys b. Google search c. blogs d. White papers

surveys

Which of the following best describes dynamic email content? a. the email use a person's first name in the greeting b. the content is generated daily c. all of the above d. the content is sent based on a user's profile preferences

the content is sent based on a user's profile preferences

Native ads can best be described as _________________ another word for Google display ads those ads which match the editorial content they appear next to Ads referring to a certain type of content native to that country those a company places on their own website

those ads which match the editorial content they appear next to

A Facebook custom audience is not the same as a Look alike audience

true

Despite prevailing common wisdom, long copy is a good practice for high involvement products.

true

E-mail is declining in B-C markets amongst teenagers.

true

Website usability

website ability to accomplish goals of the user easily

Website design best practices

websites should use standard conventions - for links, menus, colors, and layout The layout of a site is crucial to usability and should follow product and/or information hierarch and categories Easy to determine what is clickable Don't make contacting you difficult if you're selling something - put in a visible place Clear CTAs Fast load times - 2 sec is the current standard As few clicks as possible for checkout Skeleton screens Inform users on steps pending and time left

The allowable and return on promotion determines

what conversion rate you need to break even on that promotion. Allowable somewhere between GP and NP. Formula is Total selling price - cost of order

PPC without web analytics conversion data equals

you're not getting the best ROI and might be a waste of money

Buyer Personas using primary research

• Iconic representation of a target segment with a symbolic user-usually fictionalized aggregate. They are research-based (web analytics and transactional data), grounded in data, facts and actual interviews with customers • Benefits: - Personalize your messaging/offers - Improve your web/social content • A buyer persona development process will typically take about six to eight weeks to complete

Research Now

• Online Panels-like an offline focus group or 1:1 personal interviews • Specialized panels by Vertical or by Category-you can then design your own questions • Main benefit is access to hard to reach target market (e.g., physicians)

Google Trends

• Used for SEO but mainly for PPC and social media-topics/keywords • Seasonality information • Filter by location • Identify related keywords

Primary research: Online Surveys

• Vendors have templates w/typical questions for certain situations, (e.g., customer satisfaction) they can be edited • Paid versions have advanced functionality such as skip logic, validation, chart analysis & statistics •Response error: Sometimes results might not be representative of your overall customers (e.g., if 80% of customer buy in brick-and-mortar stores but only online customers are surveyed)


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