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Marketing Principles > Leads, Customers, CLTV, CAC, Campaigns > Flashcards

Leads, Customers, CLTV, CAC, Campaigns Flashcards

1
Q

A form of marketing developed from direct response marketing campaigns that emphasizes customer retention and satisfaction rather than sales transactions.

A

Relationship Marketing

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2
Q

What are the benefits of relationship marketing?

A

Great way to build loyalty

Price becomes less important

Word-of-mouth generator

Upselling and Cross-selling is much easier

Acquisition cost is much less (over long term)

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3
Q

What is the constraint of relationship marketing?

A

Having a strong relationship with a customer is a good thing but having a relationship that becomes too close can be bad. Clients can become over-expectant and extra demands can lead to staff not paying enough attention to their other clients.

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4
Q

What are Leads?

A

A lead in marketing terms is contact with a customer or potential customer, It is important that you grab the attention of the customer as quickly as possible.

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5
Q

What are some ways of generating Leads on your website?

A

Ensure your website has good loading speeds.

Ensure your website is optimised and accessible.

Ensure the content on the page landed is what the user wants.

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6
Q

Type of Lead:

People interested in your company, there’s no way of knowing if they’re a potential opportunity or not.

A

Suspects.

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7
Q

Type of Lead:

Someone who has shared enough data with you to become an opportunity for the business.

A

Prospects

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8
Q

Type of Lead:

They have become a lead through marketing, potentially watched a video, blogs or downloaded content.

A

Marketing Qualified Lead

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9
Q

Type of Lead:
The person/customer is ready for sales or to purchase something. This could be placing something in a basket or speaking to customer service.

A

Sales Qualified Lead

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10
Q

Type of Lead:

Generated by website or other online channels.

A

Online Leads

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11
Q

What does CPL stand for? (top of the funnel).

A

Cost per lead

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12
Q

What does NRL stand for? (middle of the funnel).

A

Nurture ready leads

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13
Q

What does SRL stand for? (bottom of the funnel).

A

Sales ready leads

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14
Q

What does LTV and CLTV stand for?

A

Life Time Value and Customer Life Time Value

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15
Q

What does CoCa or CAC stand for?

A

Cost of Customer Acquisition

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16
Q

How do you work out CLTV?

A

Amount spent per visit x Number of visits a year x number of years a customer = CLTV

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17
Q

If a customer spent an average of £11 per visit, visits around 8 times a year and has been a customer for 4 years, what is their CLTV?

A

£353

18
Q

What does MC stand for?

A

Marketing Cost

19
Q

What does CA stand for?

A

Customers Acquired

20
Q

What is the CAC formula?

A

CAC = MC/CA

21
Q

What does ROI stand for?

A

Return on investment

22
Q

How do you calculate ROI?

A

ROI = ( Sales Growth/MC) - MC

23
Q

What are the 5 best ways to increase engagement?

A

Know where they are (Platform)

Know what they’re looking for (Content)

Be consistent and reliable

Bring your brands personality

It’s a two way street

24
Q

Good Practices for communication.

A 
Use the right channel.
Use the right message.
Respond promptly.
Remain consistent to your brand.
Do not use copy and paste messages.
Be personal if possible.
25
Q

Bad Practices for communication.

A 
Sharing personal information.
Becoming offensive or argumentative.
Taking a long time to respond.
Going against the brand voice.
Using acronyms or business language.
Being generic.
26
Q

What are the components of a digital marketing campaign?

A 
SWOT Analysis
SMART Objectives and goals
Target audience and value proposition
Channel strategy
Implementation
Budgeting
Evaluation
27
Q

What does SWOT stand for?

A

Strengths
Weaknesses
Opportunities
Threats

28
Q

What does SMART stand for?

A 
Specific
Measurable
Achievable
Relevant
Time Bound
29
Q

What are the three types of Media?

A

Paid media
Earned media
Owned media

30
Q

What is paid media?

A

Marketing activities which result in a paid placement such as PPC and display ads.

31
Q

What is earned media?

A

Online word of mouth in such forms of mentions, shares, retweets and reviews. You’ve “earned” these positive comments to complement your own efforts.

32
Q

What is owned media?

A

Online items you’ve made and have control over so there is an expectation such media is unique to your own brand, i.e: website, blog posts, social media profiles etc.

33
Q

What is inbound marketing?

A

The customer comes to you, the find you when they need you.

34
Q

What are examples of inbound marketing?

A

Paid advertising, pay-per-click, opt-in email marketing, content marketing and targeted social media adverts.

35
Q

What is outbound marketing?

A

You push your message to the customer.

36
Q

What are examples of outbound marketing?

A

Billboard advertising, magazine promotions, cold calling, trade shows, email blasts to purchased lists, social media adverts to new audiences and T.V advertising

37
Q

What are the benefits of inbound marketing?

A

Typically higher ROI as customer has already demonstrated interest
Less obtrusive
Better experience

38
Q

What are the benefits of outbound marketing?

A

Reach larger audience

Customers may not realise they have a need for your service and hence, wont search it

39
Q

What are the disadvantages of inbound marketing?

A

Smaller audience
Can be a challenge for a new product or concept
Content marketing can take a long time

40
Q

What are the disadvantages of outbound marketing?

A

Lower ROI and high marketing costs
Can be invasive
Can negatively impact a brand if done incorrectly

Marketing Principles (3 decks)

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