MKTG 6652 Final Exam
Content Types: B2B Sales Email
business to business sale
Temporal Targeting
during the lunch hour or right before the lunch time
Opt-out
if the box is checked by default. ➔not highly recommended
Demand Harvesting
• "Pick me!" • Removing obstacles
Mobile Behavior
• "What can you do for me right now?" >Impatience • "Let me check." > quicker to make a decision • "Ooh, a video!" > rich media is equally effective • "Where?" > Location matters for mobile users
Location-Based Targeting
• As distant increases from the location X, the probability of response to an ad decreases. • Even people who are close to X still have a low probability of responding.
Transactional Emails
• Broadcast emails: go out at timed intervals to all or part of a company's email list. Other Type 1: Transactional Emails • Automated Order Confirmation email • Confirmation of shipment • Confirmation of delivery • News of a delay of shipment
Digital Marketing Tactics
• Conversion rate optimization • Mobile application • Affiliate marketing • Influencer campaigns • Direct messaging
Determine the Objectives
• Create First-time Customers through Social Media Advertising • Reputation Management
Loyalty communication
• Enhance customer service • Cost-efficient
Mobile Marketing
• In 2019, mobile advertising spending in the U.S. is $93 billion and consume 70% of overall digital spend. • 2. 7 billion smartphone users around the world. • The global median for smartphone ownership is 43%. • 204 billion apps downloaded in 2019 • Consumer spending on app hit $120 billion in 2019 ( ➔doubling since 2016) • Mobile ad spending will be $240 billion in 2020 • Mobile Marketing: a technique where advertisers deliver communications to users via smartphones and tablets
Current Mobile Advertising Tools
• In-App Ads • Mobile-web Ads: banner ads • Native Ads: reflect the form and function of the surrounding user experience ( ex: Instagram or Face book ads that look like regular feeds, game in game, in-game characters) • Interstitial Ads: full-screen ads that completely cover the host app's interface
Why Consumers Share Content
• Intrinsic Motivation: Intangible customer rewards as social status ( ex. Yelp's VIP reviewers • Extrinsic Motivation: Tangible incentives such as monetary rewards or free products (ex. Ford Fiesta's agents)
Ethical Reasons for ORM
• People like to do business with reputable companies. • Savvy, potential customers do their research. • News outlets will look for information about your company. • Positive press reflects well on the brand. • Employees and potential new hires want to work with a brand with a clean reputation. • Shareholders and investors invest in, trust in, and work with reputable companies. • Your company may have one employee, one product, or one incident that went wrong somewhere, but should you pay a price or be labeled for that mistake forever?
Applying the Framework
• Prioritize marketing efforts • Allocate resources across channels • Monitor and adjust
Loyalty
• Purchase breadth • Purchase frequency • Purchase amount
GE's Positive SERPs
• Red: Contents owned and controlled by GE • Green: GE's social media profile pages • Others: Wikipedia, Wall Street Journal Lesson - Create useful content to fill the first page of SEPR with positive contents - The contents should all serve purpose (=useful) - Sites with thin content are less likely to rank and more likely to be outranked
Social Media Plan
• Step 1: Determine the Objectives • Step 2: Choose the Platform • Step 3: Plan the Content • Step 4: Distribute and Promote Content • Step 5: Measure Success
Onboarding Emails
• Welcome offer for a new subscriber (more responsive) • Invitation to connect on social media • Invitation to download mobile app • Invitation to refer friends ( often for additional reward) • Reminder about welcome offer • Explanation of website features (informational) • Re-engagement/Next Step • Upsell • Exit survey
Ethical ORM
"ORM is not a method of avoiding responsibility for bad business practices." • "ORM recognizes that negative online content can have unnecessarily damaging repercussions long after the underlying issues have been addressed."
Online Reputation Management (ORM)
"The practice of promoting a positive brand image online by increasing the visibility of positive information and managing negative information."
Strategy Framework
- AIDA Model -Ch 13 Slide 5-
Content Type: Online B2B Services
- B2B Services' sales cycle is long ➔Regular emails to potential customers can help this sales process. -+ "lead nurturing" - Useful content about best practices In the industry. - Promotional deals would be less valuable.
High ROI Marketing Activities
- Email Marketing -SEO (Organic Search) -Content Marketing
Paid Media Only
- Low levels of risk: A company can almost always find new customers through paid media ➔expensive ( market saturation) - More expensive than other channels and less effective at generating loyalty from current customers
Content Type: Media Email
- Online media's goal: to make users spend more time on their website (and view the ads) - Daily email about the site's top content for the day ➔to encourage regular visits to the website.
Content Type: Search Engines
- Regular emails about great deals could lead to added business for the search engine ( e.g., commission on hotel bookings) - Regular emails ➔keep the search engine top-of-mind
Subject Line
- Straightforward, Descriptive -Avoid Selling
Digital Strategy
- Strategy > CEO -Marketing Strategy > CMO and VP Marketing -Digital Staretgy > Director of Digital Marketing -Digital Execution > Social Media Manager
Email Timing
-"How often should a company send emails to its email list?"• As often as it can create valuable content • "What time of the day should a company send emails to its email list?" • Whenever customer response will be highest.
Ad Copy
-Appropriate format (images vs. text) -Test and link
How a company can ensure that positive content about its brand is discovered first
-Corporate Blogs Rank Well -Corporate Websites Rank #1 Organically -Corporate Videos - Google Owns YouTube -Social Media Profiles Rank ... Sometimes -Directory Listings -Product Microsites
Unsubscribe
-Easy to find -Collect Additional Information
Email Content Type: Online Retail Email
-Emails directing consumers to go to their site. -Include a coupon promotion or free shipping
Social Monitoring
-Examines specific comments about a company and respond to them. -Expensive
Demand Generation
-Information-based -Generic to brand-directed
Mobile Constraints
-Less information -Slow typing -Fat-finger clicking -Slower processor -Slower internet connection: Slower loading page and slower page submission
Mobile Targeting: geo-fencing push notifications ch12
-Location: geo-targeting fence for push notifications. -Demographics and Interests -Time: At what time of day should See's Candies increase their pay for ads? -Shopping Context: What shopping situations ( ex: with his/her spouse, family, friends, etc.) would be most amenable to a response to a See's Candies ad? -Trajectory ( = location history): Someone who is walking quickly vs. Someone who is meandering a little more aimlessly?
Email Content Type: Lead Generation
-Regular emails can help maintain long-term relationships with customers. - Contain useful information in the company's domain of expertise (ex: tips on energy conservation from an AC company) - Promotions or discounts to induce business when possible - Requests for referrals
Digital Marketing Channels
-SEO -Paid Search -Email -Social Media Ads -Social Media Posting -Display Advertising
Paid Media
-Social Media Advertising -Paid Search Marketing -Display Advertising -Affiliate Marketing
Earned Media
-Social Media Sharing -Direct Traffic Search -Engine Optimization -Press Coverage
Revenue
= # of orders (or transactions) × Average order value
Click Through Rate
= Emails Clicked / Emails Delivered • Note: Emails Delivered = 'impression' in PPC.
Open Rate
= Emails Opened / Emails Delivered
Conversion Rate
= Transactions / Sessions Generated via Email • In the end, what matters to an online retailers are sales, not visits. • Because the email recipients are already subscribed customers, the conversion rate of email traffic should be higher (than PPC).
Cost Efficiency
Customer Concentration x Exposure Effectiveness / Cost Per Exposure Customer Concentration: How many people who see my ad are in my target market. Exposure Effectiveness: Is my add effective in getting people who see it to act on it Cost Per Exposure: How expensive is the ad per person who sees it
The optimal allocation of resources across the three marketing efforts
Depends primarily on the company's current state Three marketing efforts 1. Ad Generation 2. Demand Harvesting 3. Loyalty Building
List Churn
How frequently its emails are causing people to unsubscribe
Measure Success
Key Performance Indicators (KPI) • Measuring Reach • Total # of Likes/Subscribers/Followers • Follower Growth • Impressions/Views Measuring Engagement • Re-post/Re-Tweets /Re-Pins • Likes/Comments • Engagement Rate Measuring Loyalty • Conversion Rate • Purchase Frequency
Distribute and Promote Content
Method 1: Owned Media • Social media platforms handicap posting from company users. Method 2: Earned Media • Free publicity, unpaid promotional efforts • Requires a mix of good execution + Good Luck Method 3: Paid Media • Big benefit of social media advertising: targeted customers
Create Content
Original Content Advantage: complete control User-Generated Content • Benefit #1: personalized connection with customers • Challenge: no incentives to answer firm's request to participate Co-Created Content • Especially widespread on YouTube • Benefit #1: Both brands get exposure to the other brands' followers • Benefit #2: Combined creative forces ➔unique content Curated Content • Content created entirely by another entity
Paid Advertising on Social Media
Paid Ad on Social Media vs. Paid Ad on Google's Display Ads Network • Benefit #1: Better targeted advertising • Benefit #2: Better engagement rate • Benefit #3: More engagement options ( ex: Snapchat Lens Studio, Facebook Immersive Ads
Choose Social Media Platforms
Population Characteristics • The size of the active user population • The population density among a company's likely customers ---Snapchat for younger population ---WhatsApp has more active users in Mexico Nature of Social Media Interactions
Opt-in
Require an action like clicking on a check box to be subscribed to emails
Measure Success Continued
Social Listening Measures • Volume: the total # of social media mentions • Not all social media mentions are positive • Total # of social media mentions =I= overall business performance Sentiment: positive, neutral, negative • Automatic encoding can be inaccurate ( sarcasm) • Some product categories are more prone to negative mentions Changes in Volume and Sentiment • Increase in Volume and decrease in Sentiment: brand crisis • Increase in both Volume and Sentiment: highly effective social media activity
Double opt-in
The extra step of sending a confirmation email ( click the link to verify email address)
Resource Allocation
The optimal allocation of resources across the three marketing efforts (of demand generation, demand harvesting, and loyalty building) depends primarily on the company's current state.
Owned Media only
Very little chance for finding new customers
A/B Testing
Write different subject lines and test which email gets opened more
Behavioral Targeting
X = Korean restaurant, target: Korean-food lover
[Exercise]: For example, if you send an email with the following: 10% open rate, 20% click-through rate, 30% conversion rate, $10 average order value, how much revenue can you expect this email to generate when you send emails to an email list of 1,000 members?
Answer: -Since Open rate = Emails opened/Emails delivered -Emails opened = Emails delivered × Open rate = 1,000 × 10% = 100 emails opened. -Since CTR = Emails clicked / Emails delivered, -Emails clicked = Emails delivered × CTR = 1,000 × 20% = 200 emails clicked. -Since Conversion rate = Transactions / Sessions generated via email, -Transactions = Sessions × Conversion rate = 200 × 30% = 60 transactions. -So Revenue = Transactions × Average order value = 60 × $10 = $600.
Avoiding Spam Filters
Clean Email List -Hard Bounces: Fake email addresses should be removed -Soft Bounce: Full in box should be removed from the list after several soft bounces in a row (typically 4) -Non-opening: Not opened in several months -Provide unsubscribe button -Use Double opt in
How AI is influencing Email Marketing
1. Predictive Personalization 2. Smart Segmentation 3. Automated Workflow 4. Optimized Subject Lines and email content 5. Send Time and Email Frequency optimization 6. Multivariate and A/B testing 7. Analytics
Responding to Customer Complaints or Scam Reports
1. Should respond only once in a professional manner. ➔if the conversation continues back and forth ( =the page re-publishes with additional content) ➔search engines will re-crawl the content ➔the ranking of this negative content will improve. 2. Should Not mention its brand or product names in the response ➔doing so can actually make the negative webpages better optimized to rank for keywords the company cares about.
Three T's of ORM Emergency Response
1. Timeliness 2. Transparency 3. Training
Earned Media Only
-Very few success stories ➔but huge success - Cannot be the foundation of a stable marketing strategy
Owned Media
-Website Social -Media Profiles - Email Marketing
Triggered Emails
Abandoned Cart • Remind customer of product • Offer coupon In-Store Purchase • Receipt • Complementary products Past Purchase • Provide a review • Provide feedback on shopping experience
Social Listening summarizes
All the social media data about a brand or on a topic to get a general sense of the conversation. -Social media comments are not representative of the general public's perception and attitudes
