Marketing 355 Exam One

Ad Exchanges

-Provides a transparent forum for all parties in the ecosystem to coordinate and transact -Online marketplace where publishers, advertisers, agencies, ad networks, DSPs, can buy and sell inventory. It works by auctioning each impression to highest bidder

Publishers

-Sell ad units on their properties -Popular websites and portraits

CPV is too high when...

-It's larger than AVV

Media Mix

1. Paid 2. Owned 3. Earned

Inbound Marketing

*Earning people's interest instead of buying it! -Strategy that focuses on GETTING FOUND by consumers -company provides value for what customer wants

AVV

-Average Visitor Value (Cost per lead) -Visitor WORTH! -How much is each visitor worth to us? How much can we pay each visitor and still break even? =ACV x Conversion Rate of Visitor to Customer

Pages/Sessions

-Average page depth -Is the average number of pages viewed during a session

Advertisers

-Buy ad units on publishers properties -pay for each ad delivered

Initial Consideration Stage

-Company driven -Brand Awareness is top-of-mind -ex: Paid ads -Company puts out the message they want customers to see

Break-even point comparison

-Compare AVV and CPV -look at AVV -CPV < AVV :) (saving money) -CPV > AVV :( (paying too much and losing money)

Active Evaluation Stage

-Consumer Driven -Consumer is driving search and touch points -ex: reviews, 3rd party source, influencers, WOM

CPV

-Cost Per Visitor -Function of how much we've paid, function of how much we're spending -How much does it cost to bring a visitor to your site? =CPI/Conversion Rate of Impressions to Visitors

Product Market Fit

-Make something people want -Start with a minimal viable product (MVP) and get feedback

Google Analytics Terms

-Sessions -Users -Pageviews -Pages/sessions -Average session duration -Bounce rate -% New Sessions

What differentiates an ad exchange from an ad network? Choose all that apply.

Ad exchanges are more transparent.

Retargeting

Ads shown to those who have already visited your site -You follow them -Companies use search data from cookies to retarget consumers already looking for their products

Native Ads

Ads that are meant to look like content on the platform -ex: Ads in the "feed" of social media Sponsored playlists Memes sponsored by companies Sponsored stories Netflix's Orange is the New Black and The New York Times

Cost Per Click

Advertiser pays when a "click through" happens - a visitor is delivered to the advertisers website

Cost Per Action

Advertiser pays when visitor performs an "Action" - Fills out form - Makes a purchase - Engages

Cost Per Time

Advertisers pays for the ad to be displayed unlimited number of times during a given time period; there are often guarantees of impressions -Blast internet over weekend to sell through inventory

Examples of Owned Media (Customers)

company website, blog, support forum/community, podcast, email/text messaging, online event, sales promotion, virtual world, online games, gifting, branded mobile apps, SEO-natural, organic search

Over time, Google's search algorithm moved away from prioritizing exact keyword matches and moved towards understanding what problem the searcher was trying to solve. In other words, they have moved towards understanding

searcher intent

Cost Per Mile/Thousand

Same as CPI (Cost Per Impression) -Costing is in terms of Thousand impressions

_____________ is the "old marketing" that pushes products or services on customers, provides little to no added value, and seeks out customers via print, TV, radio, banner advertising, and cold calls.

Outbound

Outbound Marketing

-"Old Marketing" -Any marketing that PUSHES products or services on customers

Ad Affiliates

-"Sales Channel" that drives traffic to advertiser's sites -Categorized based on how they drive traffic -Commissioned sales force-drive traffic to website then take a cut

ACV

-Average Customer Value -What is the value of a customer worth to us? How much revenue do we make on each order? =Total Revenue/Total Customers

Growth Hacker

-Their main task is to build great marketing ideas INTO THE PRODUCT during the development process -The end goal of every growth hacker is to build a self-perpetuating marketing machine that reaches millions by itself -Uses customer acquisition techniques that are testable, trackable, and scalable *THINK FROM THE PRODUCT DEVELOPMENT STAGE ON HOW TO MARKET!!!!!

Examples of Content Marketing

-blender example -Geek Squad "how to fix" videos -ToneItUp

The consumer decision journey has shifted because the passive consumer is dead and the active consumer seeks out what they need. The diagram below illustrates the new process. There are two triggers in the process, labeled A and B. Which of the following correctly identifies the triggers?

1 = Interest Trigger, 2=Decision Trigger

Google's Measures of Engagement

1. Bounce Rate 2. Pages per session 3. Average session duration

Pricing Models

1. CPI - Cost Per Impression 2. CPM - Cost Per Mile/Thousand 3. CPV - Cost Per View 4. CPC - Cost Per Click 5. CPA - Cost Per Action 6. CPT - Cost Per Time

Tactics of Outbound Marketing

1. Communication is one way 2. Customers are sought out (cold calls, tv, print, radio, ads) 3. Marketer provides little to no value 4. Marketer rarely seeks to entertain or educate

Keyword Planning Tool - Things to look for

1. Competition is high ---> $ to be made 2. Suggested Bid ---> Higher the price, more traffic, signals it's valuable word

Display Ads - Ways to Target and Narrow your Audience

1. Context 2. Behavioral 3. Retargeting 4. Interest Categories 5. Geographic and Language 6. Demographic 7. Placement 8. Ad Scheduling 9. Frequency 10. Exclusions

Four Ways to get more value of of digital marketing

1. Coordinate activities to engage customer 2. Harness interest in their brands by syndicating content that empowers the consumer to build his or her own marketing identity 3. Think like high-scale multimedia publisher 4. Strategically plot how to gather and use the plethora of digital data

Issues with Retargeting

1. Frequency 2. Burn code/burn pixel 3. Segmentation 4. View-through conversion tracking

Consumer Decision Journey

1. Initial Consideration Set 2. Active Evaluation 3. Moment of Purchase (Decision Trigger) 4. Post-purchase Experience -Loyalty loop present

Two Touch Points

1. Initial Consideration Stage 2. Active Evaluation Stage

The Growth Hacker Mindset

1. Product market fit 2. Growth and attention 3. Virality 4. Optimization and retention

Parties in an Advertising Ecosystem

1. Publishers 2. Advertisers 3. Ad Networks 4. Ad Affiliates 5. Ad Exchanges

Tactics of Inbound Marketing

1. Understand how customers search and find your business 2. Communication is interactive and two-way 3. Marketers provide value 4. Customer comes to you 5. Company seeks to entertain and educate

Keyword Planning Metrics from Google's Keyword Planning Tool

1. Volume 2. Competition 3. Suggested bid

Are your marketing activities aligned with how you research and market products?

1. Where in the loop are your marketing PRIORITIES 2. Target the message 3. Invest in consumer-driven vehicles 4. Win in the store 5. Seamless brand experience

Choose the two that define Average Visitor Value (AVV).

= ACV x Conversion Rate of Visitors to Customers - The average dollar value of each visitor to our website (even those that don't purchase).

What is the difference between organic search results and sponsored search results?

A business can pay to get to the #1 position of sponsored search results, but cannot pay to get to the #1 position of organic search results.

ZMOT, the Zero Moment of Truth, refers to

A consumer decision-making moment that takes place online when consumers search for something they are considering purchasing

Which of the following is FALSE regarding how to use Google Analytics metrics to measure how engaged visitors are on your website?

A high Sessions value indicates a high engagement. -- FALSE

Frequency

A single search doesn't mean they want to see your ad everywhere

Paid Search (Sponsored Search)

A type of contextual advertising where Web site owners pay an advertising fee, usually based on click-throughs or ad views to have their web site search results shown in top placement on search engine result pages

% New Sessions

An estimate of the % of first time visits

Which of the following is an example of a company-driven touch point?

An interactive billboard next to the beltline

Ad Networks

An online arbitrage platform, which aggregates publisher's inventory, segments it and sells slices of it to advertisers/agencies. A controlled marketplace between buyer (advertiser) and seller (publisher) and ad networks

Owned Media

Any asset by the brand (digital or physical) -website

Segmentation

Are you showing them exactly what they looked at?

Context Ads

Based on what content is on the page - where is ad shown

Behavioral Ads

Based on what the WEB USER has been doing online -ex: DSW doesn't care ad is on Mental Floss website - they just want you to see it!

Bob's Bike Store is investing in display ads and is targeting them to better reach interested buyers. Bob tells his ad agency, "I want to target people who have read an article about bikes, searched for bike-related keywords, and visited at least one of our competitor's websites in the last month." The ad agency assures him that this is possible and explains that he is looking for __________________ .

Behavioral

Earned Media

Brand-related consumer actions and conversations -Most powerful -News, blogs, WOM -Have very little control of how customers interact with your brand

Views, impressions, sessions and downloads are examples of what type of metric?

Consumption

Patrick Cassidy, Head of Global Digital Brand Marketing at New Balance (a running shoe company) led his team to create an inspiring video about Lukas Verzbicas, a triathlete who was in a bike accident and was told he would never walk again, then went on to fully recover. In response to criticism that the video wouldn't increase sales in the short-term, Peter Cassidy responded: "I don't care if the video I produce doesn't sell shoes right away. I'm trying to create a culture and feel around New Balance." What type of marketing does his action and attitude best represent?

Content Marketing

Suggested Bid

Cost per click metric that Google provides you

Which of the following is an effective Inbound Marketing tactic that a hair salon could use?

Creating helpful content like "How to Style" videos and posting them on YouTube.

View-through conversion tracking

Did seeing the ad make them buy, even if they didn't click?

Examples of Earned Media (Detractors/Fans)

Digital coverage from traditional media, virtual marketing, wikis, ratings/reviews, social recommendations, email, social site discussion, community discussion

Examples of Paid Media (Prospects)

Display Ads, Sponsorships, Classified ads, product placement, social media ads, mobile ads, SEO (paid search)

Competition

How many other companies are out there wanting the same keyword

Lead-generation metrics

How many people are considering a purchase or at least want to know more information

Consumption Metrics

How many people downloaded your app

Advocacy and sharing metrics

How often your information was shared with friends. Includes user reviews

How do search engines work? How do they determine relevance and popularity?

Hundreds of factors determine relevance and popularity. Search engine assumes the more popular a site or page is, the more valuable the information. Algorithms first determines relevance, and then popularity.

Burn code/burn pixel

If they've already purchased, why waste money on converted customer?

Growth and Attention

Kick off growth with early adopters

Optimization and retention

Measure what works and repeat it

Which of the following is NOT one of the four steps to managing core sources of value that McKinsey asserts makes companies effective at digital marketing in the reading "Four Ways to Get More Value from Digital Marketing"?

Offering discounts exclusively online in order to harness extra value from the reluctant consumers

Paid Media

Paid placements that promote a product, website, piece of content or anything else that an advertiser wants to pay or draw attention to -put $ behind ad

"There is an approach called 'working backwards' that is widely used at Amazon. We try to work backwards from the customer [and what they want], rather than starting with an idea for a product and trying to [convince] customers onto it. While working backwards can be applied to any specific product decision, using this approach is especially important when developing new products or features." What element of the growth hacker mindset does this best exemplify?

Product Market Fit

According to Josh Constine's article, "Buzzfeed's Future Depends on ....," he predicts that as Native Advertising (specifically Sponsored Content that appears on Buzzfeed) becomes a growing part of their revenue stream, Buzzfeed will have to do which of the following:

Raise the bar for native advertising such that people can't distinguish between ads and organic content, even if that means turning down some advertisers

Marketers wants...

Reasonable cost per conversion and high conversion rate

Sales Metrics

Revenue data

Cost Per View

Similar to CPI but used for POP-UPS, "POP-UNDERS"

Volume

The amount of people searching that keyword

Content Marketing

The approach of creating and distributing valuable and consistent content to a targeted audience, with the objective of driving some profitable action...

Average Session Duration

The average length of a session

Which of the following is an assumption that search engines make when determining relevance and popularity of a website?

The more popular a site, page, or document, the more valuable the information it contains must be.

Bounce Rate

The percentage of single-page visits Leave after 5 seconds Want this # low!

Organic SEO (Search Engine Optimization)

The phrase used to describe processes to obtain a NATURAL placement on organic search engine results pages (SERPS) -Not paid for!

Pageviews

The total number of pages viewed

Yesterday, you purchased a pair of black shoes from Toms. Today as you browse the internet, you are bombarded with ads from Toms shoes for the exact same pair of black shoes. What best explains why the would show you those ads even though you already purchased the item?

They failed to embed a burn code or burn pixel

The Cost Per ____________________ pricing model is when an advertiser pays for the ad to be displayed unlimited number of times during a given time period; there are often guarantees of minimum impressions.

Time

Sessions

Total number of visits a user is actively engaged with your website, app etc.

Information that our smart phones automatically collect makes up some of the most powerful data sets available to data brokers and businesses.

True

When comparing Google Analytics metrics for a particular timeframe, the Sessions number will always be equal to or higher than the Users number.

True

Cost Per Impression

Used for Display Ads, Advertiser pays each time the ad is DISPLAYED

Users

Users that have had at least one session within the selected date range. Includes both new and returning users (people)

Virality

What makes people want to share?

According to the ZMOT article, a good rule for digital marketers is to "treat your online marketing campaign as if it's always in beta." What does this mean?

You should continually test the variables in your campaign because of how quickly the digital marketing landscape and consumers' preferences can change.

ZMOT

Zero Moment of Truth -When you go out and search -Moment you take to the internet