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Chapter 1 Flashcards

1
Q

3 Steps to the Systematic Process of Digital Marketing

A
  1. Define the opportunity
  2. Develop strategies
  3. Implement digital techniques and best practices
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2
Q

Digital Marketing

A

The application of digital media, data and technology integrated with traditional marketing communications to achieve marketing objectives

Achieving marking objectives through applying digital media, data and technology

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3
Q

Online Company Presence

A

Different forms of online media controlled by a a company

Website, blogs, email list, social media presence

Owned Media

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4
Q

Customer Relationship Management (CRM)

A

Using digital communications technologies to maximize sales to existing customers and encourage continued usage of online services through techniques including a database, personalized web messaging, customer service, chatbots, email, and social media marketing

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5
Q

Digital Transformation

A

A staged program of organizational improvements to business models, people, processes and technologies used for integrated digital marketing in order to maximize the potential business contribution of digital technology, data and media

The evolving pursuit of innovative and agile business and operational models - fueled by the evolving technologies, processes, analytics, and talent- to create new value and experiences for customers, employees and stakeholders

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6
Q

Multichannel Marketing (Omnichannel)

A

Customer communications and product distribution are supported by a combination of digital and traditional channels at different points in the buying cycle or ‘path to purchase.’ With the range of mobile and IoT touch-points, some use the term omnichannel marketing

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7
Q

Customer Journey

A

A description of modern multichannel buyer behavior as customers use different media and touch-points to achieve their goals, including selecting suppliers, making purchases,and gaining customer support as part of their path to purchase

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8
Q

Paid Media

A

Bought media where there is an investment to pay for visitors, reach, or conversions through search, display ad networks or affiliate marketing
Offline, traditional media such as print and TV remain intact for some brands

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9
Q

Owned Media

A

Media owned by the brand
Online this is websites, blogs, email lists
Offline this is brochures and retail stores

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10
Q

Earned Media

A

The name given to publicity generated through PR invested in targeting influencers to increase brand awareness
Also incudes word of mouth that can be stimulate through viral and social media marketing

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11
Q

Application Programming Interfaces (API)

A

Method of exchanging data between systems such as website services

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12
Q

The 7 Ds of Digital Marketing

A

1.Digital goals and strategy
2. Digital audiences
3. Digital devices
4. Digital platforms
5. Digital media
6. Digital data
7. Digital marketing technology

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13
Q

Internet of Things (IoT)

A

A network of objects and devices at home and work providing sensors and connectivity that enable them to be monitored and exchange data with other systems

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14
Q

FAMGA

A

An acronym standing for Facebook, Amazon, Microsoft, Google, and Apple

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15
Q

Customer Lifecycle

A

The stages each customer will pass through in a long-term relationship with an organization, including acquisition, retention and extension, prompted by digital and non-digital communications touch-points

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16
Q

RACE

A
  1. Reach
  2. Act
  3. Convert
  4. Engage
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17
Q

Digital Business / Electronic Business (E-Business)

A

Electronically mediated information exchanges both within an organization and with external stakeholders supporting the range of business processes

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18
Q

Electronic Commerce (E-Commerce)

A

All financial and informational electronically mediated exchanges between an organization and its external stakeholders

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19
Q

Sell Side E-Commerce

A

E-commerce transactions between a supplier organization and its customers

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20
Q

Buy Side E-Commerce

A

E-commerce transactions between a purchasing organization and its suppliers

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21
Q

Key challenges of digital communications

A
  1. Complexity
  2. Responding to competitors
  3. Responding to changes in technology and marketing platforms
  4. Cost
  5. Attention
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22
Q

The 5 S Goals of Digital Marketing

A
  1. Sell
  2. Speak
  3. Serve
  4. Save
  5. Sizzle
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23
Q

Social Commerce

A

A subset of e-commerce that encourages participation and interaction of customers in rating, selecting and buying products through group buying. This participation can occur on an e-commerce site or in third party sites

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24
Q

Positioning

A

Customers perception of the product and brand offering relative to competitors

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25
Target Marketing Strategy
Evaluation and selection of appropriate customer segments and the development of appropriate offers
26
Online Value Proposition (OVP)
A statement of the benefits of online services that reinforces the core proposition and differentiates from an organizations offline offering and those of competitors
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Value Proposition
The benefits of value a brand offers to customer in its products and services
28
Advertising Medium
Ads displayed on publisher sites or social networks Can be used to create awareness of brands and demands for products or services
29
Direct Response Medium
Target search advertising Enables companies to drive visits to a site when consumers show intent to purchase such as searching for a flight to a destination
30
Platform for sales transactions
Online platform that purchases can be made through Such as booking a flight online
31
Lead-Generation Method
Follow up to generate another purchase For booking business flights, tools can be provided that help identity and follow up on corporate flight purchases
32
Distribution Channel/Distributing Digital Products
Upselling of add on items For example, flight insurance
33
Customer Service Mechanism
Reducing costs of customer service by allowing customers to serve themselves
34
Relationship-building Medium
Company can interact with its customers to better understand their needs and publicize relevant product to offer For example, an airline using an email newsletter and tailored alters about special deals to encourage repeat bookings
35
Transactional E-Commerce
The website, app or social network that enables purchase of products of services online Typically in retail, travel and financial service sectors Transactional platforms can also support the business by providing customer service and information for customers who prefer to purchase products offline
36
Services-Oriented Relationship-Building for Lead-Building and Support
Online prescence focuses on providing information to stimulate parachute and build relationships Products and services are not typically available to purchase online Typically in B2B sectors or for high-value complex products
37
Brand-Building
- This site or app provides an experience to support the brand - Products are not typically available for purchase online - Main focus is to support the brand by developing an online experience of the brand - Typically used for low-value, high-volume, fast-moving consumer goods
38
Publisher or Intermediary Site
- Sites for comparing brands, providing news or entertainment - Typically have an advertising or affiliate revenue model - Information both on the site and links to other sites
39
Stage Models
Models. For the development of different levels of digital services
40
Brochureware Site
A simple site with limited interaction with the user that replicates offline marketing literature
41
Transactional E-Commerce Site
Sites that support online sales
42
Social Network/Community
- Sites or parts of sites that focus on enabling community interactions between different consumers (C2C) - Typical interactions include posting, commenting, sending messages, rating - Examples: Facebook, Instagram
43
Challenges in Developing and Managing Digital Marketing Strategy
1. There are unclear responsibilities for the many different activities 2. No specific objectives were set 3. Insufficient budget 4. Budget is wasted 5. New online value propitions for customers are not devekioed since the internet is treated as just another channel of market 6. Results from digital marketing are no measured or reviewed adequately 7. An experimental feather than planned approach is taken
44
Digital Disruptors
- Innovations in digital media, data and marketing technology that enable a change to a new basis for competition in market or across markets - Disruptors are also used to refer to startup or existing companies that through their agility are good examples of impacting competitors through disruption
45
Framework for Developing a Digital Marketing Strategy
1. Opportunity: defining the opportunity - Set digital marketing objectives - Evaluate digital marketing performance - Asses online marketplace 2. Strategy: Selecting the Strategic Approach - Define the digital marketing strategy - Define customer value proposition - Define digital communications mix 3. Action: Delivering results online - Implement a digital marketing plan - Implement customer experience - Execute digital communications - Customer profiling
46
Business to Consumer (B2C)
Commercial transactions between an organization and consumers
47
Business-to-Business (B2B)
Commercial transactions between an organization and other organizations
48
Direct-to-Customer Model
A brand that has previously communicated to its customers via intermediaries such as media sites or wholesalers communicates directly via digital media such as social networks, email and websites
49
Consumer-to-Consumer (C2C)
Informational or financial transactions between customers, but usually mediated by a business site
50
Consumer-to-Business (C2B)
Consumers approach the business with an offer
51
Metaverse
Online worlds where people can game, work and communicate in a virtual environment. Typically supported by VR headsets, chat and video
52
E-Government
Use of internet to provide government services to citizens
53
Digital Natives
Describes people who have grown up with digital media and technology
54
Benefits of Digital Media
1. Interactivity 2. Intelligence 3. Individuaization 4. Integration 5. Industry Restructuring 6. Independence of Location
55
Data Lake
Storage that holds a diversity of raw data in its native format
56
Data Warehouse
Contains structured data
57
Personalization
Digital experience personalization is the dynamic service of product or promotional offer recommendations to website, visitors or app users based on their characteristics and intent behavior to support conversion and long-term engagement goals
58
Sense-and-Respond Communications
Delivering timely, relevant communications to customers as part of an automated contact strategy based on assessment of their position and customer lifecycle and monitoring specific interactions with the companies website, emails, and staff
59
Outbound Digital Communications
Website, mobile push notifications, or email marketing are used to send personalized communications to customers
60
Disintermediation
The removal of intermediary such as distributors or brokers that formally linked a company to its customers
61
Inbound Digital Communications
Customers inquire through web-based forms, social media and email
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Reintermediation
The creation of new intermediary between customers and suppliers providing services such as supplier search and product evaluation
63
Device-Specific Targeting
Targets users of a particular device
64
Dayparting
Target people when they are most likely to be active during the day or week
65
Digital Media
Communications and interactive services based on digital content, accessible through different technology platforms and devices, including the Internet, web, mobile phones, computers, TV and digital signage
66
Digital Media Channels
- Online communications techniques using paid, owned and earned media to achieve goals of brand awareness, familiarity and favourability, and to influence purchase intent by encouraging users of digital media to visit a website or mobile app to engage with the brand or product, and ultimately to purchase online or offline through traditional media channels such as by phone or in-store. - The six main channels 1. search engine marketing 2. social media marketing 3. email marketing 4. display advertising 5. public relations 6. partner marketing
67
Search Engine Marketing
Gaining visibility on a search engine to encourage click through to a website when the user types, a specific keyword phrase
68
Social Media Marketing
Includes both paid advertising on social networks and organic social media amplification where companies aim to gain visibility through content shared by social media feeds and pages that are owned media. Earned social media is where a brand or social update is shared by a publisher or partner.
69
Display Advertising
Use of online formats, such as banners and videos on publisher sites to achieve brand awareness and encourage click through to target site. These are typically considered as separate investments from paid and paid social ads since display ads are typically displayed on publisher sites. 
70
Digital PR
Involves maximizing, favorable offsite mentions of your company brands and products by other organizations and people, especially media sites or influencers such as celebrities
71
Digital Partnerships
Creating and managing long-term arrangements to promote your off-line services on third-party website or through website. Affiliate marketing involves a commission based arrangement where the advertise pays only when a sale occurs.
72
Digital Messaging
Digital messaging to individuals who subscribe to updates has focused on email marketing, which is still commonly used however, email is used less by younger audiences who are more likely to subscribe to mobile notifications from websites and apps
73
Pay-Per-Click (PPC)
When a company pays for text ads to be displayed on the search engine results pages as a sponsored link
74
Search Engine Optimization (SEO)
A structured approach used to increase the position of a company or products and a search engine, natural or organic results listings
75
Display Ads
Use of graphical or rich media ad units within a webpage to achieve goals of delivering brand awareness, familiarity favor, ability, and purchase intent
76
Affiliate Marketing
A commission based arrangement where the referring sites receive a commission on sales or leads by merchants. Commission is usually based on a percentage of product sale, price price or a fixed amount for each sale.
77
Email Marketing
Typically apply to outbound communications from a company to prospects or customers to encourage purchase or branding goals
78
Landing Page
An entrance page to the site when a user clicks on an ad or other form of link from a. It can be a homepage, but more typically and desirably a landing page is a page with the messaging focused on the offer.
79
Social Media Marketing
Organic sharing and pay ad advertising using social networks and their messaging services to gain awareness and response from target audiences. Also involves facilitating and monitoring C2C and C2B interactions and participation on social networks and other online communities were user generated content is created.
80
Social Networking Sites
What they services that allow individuals to construct a public or semi public profile within a system, articulate a list of other users whom they share connection and view and reverse their list of connections in those made by others within the system
81
Inbound Marketing
The consumer is proactive and seeking out information for their needs and interactions with brands are attracted through content search, and social media marketing
82
Permission Marketing
Customers agree to be involved in organizations, marketing activities, usually as a result of an incentive
83
Permission Marketing
Customers agree to be involved in organizations, marketing activities, usually as a result of an incentive
84
Interruption Marketing
Marketing communications that disrupt customers activities
85
Content Marketing
The management of media aimed and engage in customers and prospects to meet business goals, published to print and digital media, including Web and mobile platforms that are repurpose and syndicated to different forms of web presents such as publisher sites, blogs, and social media comparison sites
86
Content Marketing Hub
Central branded location where your audience can access and interact with all your key content, marketing assets in a practical sense. The content hub can be a blog or new section an online customer magazine or resource center.
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Content Marketing Hub
Central branded location where your audience can access and interact with all your key content, marketing assets in a practical sense. The content hub can be a blog or new section an online customer magazine or resource center.
88
Customer Engagement
Repeated interactions to the customer lifestyle prompted by online and off-line communications aimed at strengthening, the long-term, emotional physiological, and physical investment a customer has with a brand
89
Always-On Lifecycle Marketing Communications
A plant approach to scheduling and optimizing, continuous marketing activities that support customer acquisition and retention these activities aim to maximize visibility and persuasion throughout the customer lifecycle
90
Retargeting
Ads that are previously interactive with the brand, for example, through visiting a website, social media profile or searching
91
Digital Analytics
Data analysis techniques used to assess an improve the contribution of digital marketing to a business, including reviewing traffic volume referrals, click streams, online reach data, customer satisfaction, research, leads, and sales. Formerly known as web analytics when it was limited to website data
92
Marketing Technology (Martech)
Software services and tools used to run marketing operations to support marketing, communications goals, including customer requisite, conversion, retention, and team communications, and to deliver the customer and market insight and reporting

Digital Marketing (8 decks)

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