Digital Marketing Chapter 1

Customer Experience (CX)

(CX) is the sum of all experiences a customer has with a supplier of goods (products) or services over the duration of their relationship with that supplier. CX includes all customer touch points as they interact (digitally and otherwise) during the buying, using, owning, servicing, and recommending any given product or service.

Call-to-Action

A banner, button, or some other graphic or text on a web page, social platform, or email message directing the user to take a specific action, such as, "Click Here," "Download," "Submit," or "Purchase."

Brand

A brand is a name, term, design, symbol, or other feature that distinguishes an organization or product fro its rivals in the eyes of the customer. Brands are used in business, marketing, and advertising.

Digital Transformation

A part of a continuous process of change within an organization that reveals new possibilities daily as relationships, data, and markets expand. Digital transformation alters existing communications structures, influence flow, and access to critical data, encouraging collaboration and joint decision-making. It requires all members of an organization to adopt a digital mindset and integrate it into how they communicate and serve their employees, customers, and the greater community. A digital transformation mindset encourages continuous innovation in the design and implementation of products and services, and deeper connection with existing and future customers.

Agile Marketing

A tactical marketing approach in which teams identify and focus their collective efforts on high value projects, complete those projects cooperatively, measure their impact, and then continuously and incrementally improve the results over time. This term first began being used in the technology space relating specifically to the development of software programs and processes. Responding to change over following a plan. Rapid iterations over Big-Bang campaigns. Testing and data over opinions and conventions. Many small experiments over a few large bets. Individuals and interactions over once size fits all Collaboration over silos and hierarchy. The goals of Agile Marketing are to improve the speed, predictability, transparency, and adaptability to change of the marketing function.

Traditionalist

A term used to describe the generation of people who were born in the U.S. before 1945. Also referred to as, "The Greatest Generation," and "The Silent Generation.

Trusted Advisor

A trusted advisor has business acumen. It also means that the person has the experience, training, the knowledge, and the subject matter expertise to be trusted to advise clients well. Someone who has exceptional, targeted knowledge in a particular industry or with a specific product; one you can expect to provide unbiased advice.

Corporate Social Responsibility (CSR)

Addresses four levels of responsibility: Economic (make profits) Legal (obligation to comply with laws) Ethical (do the right thing because it's right) Philanthropic (go above and beyond to give back to the community)

Word of Mouth (WOM)

Also called, "word of mouth advertising," differs from naturally occurring word of mouth, in that it is actively influenced or encouraged by the organization. The best definition is: an unpaid form of promotion in which a satisfied customer tells other people how much he likes a business, product, or service. WOM is important for a business as each happy customer can steer dozens of new ones to the business. In some cases this can also be referred to as, "organic."

Customer Centric

An organization that is truly customer-centric consistently considers the viewpoint of the customer when making decisions, creating processes, defining expected behavior and developing strategy. It's an all-encompassing philosophy that combines culture and targeted skill sets to create the best possible customer experience.

Digital Marketing

Any marketing action that is reliant on a digital medium to execute its specific function or complete its intended action.

Value Proposition

Articulates in one sentence why people should buy a company's or organization's products or services. It should address four key questions: 1. What does the brand provide? 2. Who is the target audience? 3. Why is its offering unique? 4. What are the expected results?

Disruptive Marketing

Disruptive marketing means turning all the marketing rules upside down, shaking things up and changing the perception not just about the company but as the industry as a whole. Disruptive marketing encourages companies to rethink the whole brand, not just its advertising and marketing campaigns.

Ecosystem

Gartner defines a digital ecosystem as, "an interdependent group of actors (enterprises, people, things) sharing standardized digital platforms to achieve a mutually beneficial purpose." In laymen's terms, it encompasses all the connections we make daily to achieve shared goals.

Creating Shared Value (CSV)

Measures economic and social value or new benefits that exceed the costs for the business and society to engage the scale and innovation of companies to advance social progress. It is an internally generated measure not confined to financial budgets.

Advocate

One who supports or promotes the interests of a company, organization, cause or group.

Differentiate

Recognize or ascertain what makes (someone or something) different. To see or state the difference or differences between two or more things.

Segmentation

Subdivision of a population into segments with similar characteristics, such as age, education, income, etc. The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment

Lead Generation

The action or process of identifying and cultivating potential customers for a business' products or services. It's the process of collecting names and contact information about qualified prospects which will be contacted by salespeople for generating orders and sales.

Context

The circumstances that form the setting for an event, statement, or idea, and in terms of which it can be fully understood.

Retention

The condition of retaining (keeping) something. Used in business and organizations for customer retention, employee retention, etc

Return on Marketing Investment (ROMI)

The contributions attributable to marketing (net of marketing spending), divided by the marketing "infested" or risked.

Baby Boomers

The demographic cohort following the "Silent Generation" and preceding Gen X. Demographers and researchers typically use birth years starting from the early-to-mid-1940's and ending anywhere from 1960 to 1964.

Gen X

The demographic cohort following the baby boomers and preceding the Millennials. Demographers and researchers typically use birth years ranging from the early-to-mid 1960's to the early 1980's.

Gen Z

The generation after Millennials, Gen Z, which Forbes defines as people born from the mid-1990's to the early 2000's, make up 25% of the U.S. population, making this generation a larger cohort than the Baby Boomers or Millennials. Other names suggested for the cohort include iGeneration (iGen), Gen Tech, Gen Wii, Net Gen, Digital Natives, and Plurals.

Gen Y

The generation born in the 1980's and 1990's comprising primarily the children of the baby boomers and typically perceived as increasingly familiar with digital and electronic technology. Also known as Millennials and the general and demographic cohort following Gen X. There are no precise dates for when this cohort starts or ends; demographers and researchers typically use the early 1980's as starting birth years and the mid-1990's to early 2000's as ending birth years.

Predictive Analytics

The practice of extracting information fro existing data sets in order to determine patterns and predict future outcomes and trends. Predictive analytics does not tell you what will happen in the future, thus the word, "predictive."

Content

Used with marketing. Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience - and, ultimately, to drive profitable customer action.

Multimedia

Using more than one medium of expression or communication. It's the integration of multiple forms of media.