MKT 351 Final Exam

KPI (Key Performance Indicator)

(KPI) is a metric that helps you understand how you are doing against your objectives," says Kaushik. He gives as an example a retailer that uses a sales target as its primary objective and uses average order size as one KPI. He also uses the example of a newspaper with a revenue goal to meet and uses the number of clicks on display ads as a KPI. key performance indicator, a quantifiable measure of performance over time for a specific objective. KPIs provide targets for teams to shoot for, milestones to gauge progress, and insights that help people across the organization make better decisions.

quantitative metric

(objective measures like page views or number of followers)

mobile first

A design approach that plans for optimal viewing on small screens such as smartphones or tablets.

customer experience

It is the sum of all customer interactions and the resulting perceptions of the brand.

To address the issues of ROI, social media marketers turn to: Article directories List services Benchmarking Conversations KPI's

KPI'S

enabling location services

Marketers have the data to target platform users by their location, which is very useful, especially to local marketers. Physical retail stores remain an essential part of the omnichannel world. Retailers use technology to find when their customers are near or inside the store and send relevant information to their mobile phones.

qualitative metric

Qualitative metrics are often grouped under the heading of "sentiment analysis."

difference between ROI and KPI

ROI (Return on Investment): ROI is a financial metric that measures the profitability of an investment relative to its cost. It's typically expressed as a percentage and is used to evaluate the efficiency and profitability of an investment or project. Formula: ROI=(Net ProfitCost of Investment)×100ROI=(Cost of InvestmentNet Profit​)×100 Example: If a company invests $10,000 in a marketing campaign and generates $30,000 in revenue from that campaign, the ROI would be (30,000−10,00010,000)×100=200%(10,00030,000−10,000​)×100=200%. KPI (Key Performance Indicator): KPIs are metrics used to evaluate the success of an organization or specific activities in achieving its objectives. Unlike ROI, which is primarily focused on financial returns, KPIs can be financial or non-financial and are used to track progress toward strategic goals. Examples of KPIs include customer acquisition cost, customer retention rate, employee satisfaction, website traffic, conversion rates, and many others depending on the goals and focus of the organization. In summary, ROI is a specific financial metric that assesses the profitability of an investment, while KPIs are broader metrics used to measure various aspects of performance and success in achieving organizational goals.

primary outcome

The main outcome of interest in a research study. the goal

strategy

an approach you take to achieve a goal.

Which of these is NOT a best practice for SMM tools? Focus on strategy, not the tools Use dashboard for tasks and data Think about who will have the task assignment Choose tools that are not free to start Prioritize tasks to be accomplished

choose tools that are not free to start

CPS

cost per click

Which term describes the sum of all customer interactions and the resulting perceptions of the brand Social commerce Customer experience Data proximity Omnichannel marketing Sales funnel

customer experience

beacons

devices in a retail environment that communicate with shoppers' phones as they walk through the aisles

E-commerce is a method of selling on social media that allows customers to find the product and complete financial transactions on the social media site True False

false

Quantitative metrics are often group[ed under the heading of sentimental analysis True False

false

objective

is a measurable step you take to achieve a strategy

social commerce

is a method of selling on social media that allows customers to find the product and complete the financial transaction directly on the social media site.

metric

is a number," says Avinash Kaushik. He says that the metric can be either a count (e.g., page visit) or a ratio (e.g., sales lead conversion rate) a metric can either be qualitative or quantitative

proximity marketing methods

is a tactic that allows marketing leaders to target potential consumers with advertising content based on their current location. Proximity marketing is facilitated using technology such as Bluetooth beacons, WiFi, geofencing, near-field communications (NFC) and QR codes.

Net Promoter Score (NPS)

is a transparent measure of what is presumed to be satisfaction. It is a measure of the loyalty of a company's customer relationships. The NPS assumes that every company's customer can be divided into three classes: Promoters, Passives, and Detractors. The score is obtained by asking customers to answer a single question using a 0-to-10 rating scale. The question is, "How likely is it that you would recommend [company X] to a friend or colleague?" Customers are categorized as follows:

geofencing

is an ad targeting method used for ads with apps, display ads, and social media advertising. A marketer creates a fence around a specific location, and only mobile phones within the fenced area are served the ads.

Which term refers to requiring designs for desktop and laptop environments later in the process? Social commerce Mobile first Customer relationship management Omnichannel marketing M-commerce

mobile first

A possible metric related to the objective increase sharing of blog content on twitter by 25% would be: Net promoter score Click thoughts Number of retweets New subscribers Customer satisfaction score

number of retweets

It is important to use which type of metric to understand consumers' perceptions of and attitudes toward a brand? Quantitative ROI Number of shares user-generated content Qualitative

qualitative

audience first

recommend using the massive amounts of digital media data to precisely define target audiences—their needs, wants, and behaviors in both online and offline contexts.

omnichannel marketing strategy

refers to a brand's holistic approach to every customer touchpoint across channels. With omnichannel strategies, brands strive to give customers a consistent, cohesive experience across both digital and brick-and-mortar touchpoints.

m-commerce

refers to any sale completed through a mobile device whether through a branded shopping app, social media, or a website

e-commerce

the buying and selling of goods over the internet

mobile first

the concept of designing mobile products first, then designing for desktop and laptop environments.

ROI (Return on Investment)

the direct financial impact of a firm's expenditure of a resource, such as time or money is a performance measure used to evaluate the efficiency of an investment or compare the efficiency of several investments.

social media tracking

the process of finding and listening to content on the social web. Given its size and continued growth, finding specific content on the social web can sound like a daunting task.

most downloaded app of 2020

tik tok

M-commerce refers to any sale completed through a mobile device whether through a branded shopping app, social media, or a website: True False

true

Social media tracking is the process of finding and listening to content on the social web True False

true

social shopping

using the internet to communicate about product preferences with other shoppers