Digital Analytic Fundamentals Flashcards
Purchase Funnel
Consists of Various Stages:
Awareness⇢Acquisition⇢Engagement⇢Conversion⇢Retention
No Longer Relevant
Digital Analytics
The analysis of qualitative and quantitative data from your business and the competition to drive a continual improvement of the online experience that your customers and potential customers have which translates to your desired outcomes.
Quantitive Data
Examples: Size of the online audience, location, the performance your online marketing, & what they do once they visit your website, Mobile Applications, Cloud Connected Point-of-Sale Systems, CRM Systems, Connected Home Appliances
Basically quantitive data is data that is quantified and verified, and is amenable to statistical manipulation.
Qualitative Data
Why the customer does or decides something.
Why they came to the website, what they hoped to accomplish, did they accomplish it?
Outcomes:
Business objectives.
E-commerce Outcome
Sell products or services
Lead Generation Outcome
Contact Information for Sales Prospects
Online Info/Support Outcome
Help customers find information
Content Publishing Outcome
Ads shown to visitors, frequent visitors
Branding Outcome
Drive awareness, engagement, and loyalty
Macro conversion
Indicator that an objective has been met, like a purchase on an e-commerce site
Micro Conversion
Behavioral indicator that you are close to fulfilling an objective, like someone signing up for email coupons on an e-commerce site
Continual Improvement Process
Measurement⇢about collecting data needed Report⇢package data in a readable format Analysis⇢develop and figuring out expectations for data Testing⇢Trying new ideas to improve Improve
