MKT 6321 MidTerm
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
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)
