Digital Marketing Analytics & Evaluation Flashcards
What are Digital Marketing Analytical Methods
Analytical methods are used to uncover patterns, trends and relationships about online customers, so as to study their behaviour preferences and online journey
Types of Analytical Tests for Digital Data
A/B Testing
Customer Journey Analysis
Segmentation
What is a micro-moment?
A micro-moment is an intent-rich moment when decisions are being made or preferences are being shaped.
Made up of real-time interactions (between customer and brand) that leads to a decision to purchase
Occur when people reflexively turn to a device to act on a need
What should companies do with Micro-
Moments?
Marketers need to anticipate both customers’ needs and wants and find ways to meet them whilst optimising their customer’s online experience.
Some examples of micro-moments
I-want-to-know: Look up info online
I-want-to-go: Look for things nearby online when wanting to go out
I-want-to-do: Look for ideas online while doing a task
I-want-to-buy: Consult phones in store while deciding what to buy
Marketing Campaign Analysis Methods
Anecdote Analysis
Correlation Analysis
A/B Testing
What is Anecdocte Analysis
It involves analysing a verbal “share” of a relationship between a digital media activity and sales.
For example, someone tweets that he’s interested in buying a car and the car company redirects him to their website. There is no direct sale but it creates a valuable opportunity by engaging personally
However, it is not be practical for companies to reach out to
everyone who talks about buying their product. It is not scalable.
What is Correlation Analysis
An attempt to establish a relationship between two different variables to identify patterns in behaviour.
For example, do more likes on Facebook to lead to higher sales or do emails that contain images have higher open rates
Process is very manual, the analysis has to be re-created each time. A trained analyst is required to capture the relevant data for the
digital activity and the other variables used for analysis.
What is A/B Multivariate Testing?
Multivariate testing is a method of testing a particular hypothesis
using complex, multivariable systems. It can also be used to compare different tactics across multiple populations.
For example, showing one version of an email template to a
group of users, showing another version of an email template to a
different group of users and then comparing the performance of those two templates
It is manual and requires trained analysts who know how to define the variables needed for the test.
What is Predictive Analytics
Used to make predictions about unknown future events.
Predictive modelling is the process by which a model is created or
chosen to try to best predict the probability of an outcome given a set
amount of input data.
For example, given an email determining how likely that it is spam, given products and categories a customer already viewed, what other products/categories would they be interested in
The patterns and relationships found in historical and transactional
data can be used to identify risks and opportunities for the future.
Predictive analysis requires accurate input of metrics and measures
and the use of suitable modelling techniques in order to achieve the
outcome that meets the needs of the organisation
Common Modelling Techniques
Data Mining - Supervised and Unsupervised Learning
Make prediction about values of data using known results from historical data AND explore the properties of data examines and finds patterns of relationships in the data RESPECTIVELY.
How to measure multichannel marketing
strategy?
Define ROI - what metrics are being looked at for what objectives.
Focus on attribution - find all the touchpoints that contribute to a sale
Use marketing technology - use the right technology
Keep a close eye on data - helps improve understanding & efficiency
Put everything together to measure marketing impact - companies need to be able to showcase how all efforts are combine to measure the wider marketing impact
