Exam #3 Flashcards
Broad Marketing Objectives
- Communicate the message 2. Affect consumer behavior 3. Enhance brand equity
Specific Marketing Objectives
- Increase/develop brand awareness 2. Build customer traffic 3. Increase sales 4. Encourage interactions
SMART Objectives
Specific, Measurable, Achievable, Relevant, Time-bound
Three categories of Marketing Objectives
- Attraction- drive consumers to the site
- Retention and Engagement- keep them involved
- Conversion- get customers to make a purchase
How firms want consumers to contribute?
- Paid Content: Ads
- Earned Content: Social Media
- Owned Content: E-mail
Data Analysis
Find appropriate performance measures, and connect objectives to outcomes
Measuring Attraction
Upstream Sites: list of websites visited immediately prior to current website
Search Traffic: % of visitors that come from search engines
Unique Visitors: number of distinct individuals visiting a website in a given period, regardless of how often they visit
Measuring Retention
Bounce Rate: % of visitors who enter the site and “bounce” (leave the site) rather than continue viewing other pages within the same site
Daily Page Views: average number of pages visited within a website
Daily Time on Site: average amount of time spent within a website
Measuring Conversion
% of visitors which engage in a specific outcome/call to action- ex: buy a product
Increase Conversion?
Neil Patel: No news on homepage, but another page. Less text on homepage, but not too many images- combination of little text and image that allows consumers to engaged immediately. Also, picture of humans (especially smiling humans) increase conversion significantly. Do not have too many calls to action- have one button that takes them to where they need to go quickly. Make the blog on your site more of a priority to establish trust and give them reasons to come back for updates- also gives you more organic listings. Also, increase load time, add video/podcasts, clear navigation
Objectives and Budgets Go Hand in Hand
Consider different objectives for AdWords, Twitter, Facebook …
A/B testing
Compares the effectiveness of two versions of digital content to discover which has better response rate or sales conversion rate.
Elements of Digital Effectiveness
- Quality of social media choices 2. Good data analysis 3. Financial stewardship (the care, conservancy, planning, attention, upkeep, and management of our financial resources and choices) 4. Creative and strategic thinking
Strength of Digital Ads
- Easy to create and implement 2. Easy to track effectiveness 3. Creates awareness and possible new or returning visitors to your site
To have a successful digital presence
- Magic- creating new, engaging experiences 2. Math- managing programs on a daily basis, constantly evolving and improving.
Types of Ads
- Banners
- Display Ads
- Social media ads
- Ad targeting and retargeting
Digital v. Print Ads
Digital= increasing, Print= decreasing
Promotional expenditures and sales
Not a simple linear relationship
Display Ad Dollars going to
50% =
- FB
- Yahoo
- Microsoft
- AOL
Steps of Online Ads
- Traffic to the site (unique visitors) 2. Impressions 3. Click-throughs 4. Purchases
Impressions
Number of times an ad is shown, or the number of times a page is loaded/displayed in a browser
CPM
Cost per thousand impressions (reaching 1,000 people)
Pay for exposure of their message to a specific audience.
CPM Calculation
Cost of Ad/# of contacts (in 1,000’s)
Banner ads are…
relatively cheap, easily negotiable
