Midterm Flashcards
Marketing
Creation and satisfaction of demand for your product, service, or idea
4 things marketing fulfills
awareness,
info (where and how to buy),
persuasion,
affinity (love of brand and products)
micro vs macro factors
micro - internal, you have some control over
macro - aspects beyond your business’s control
internet of me
tech that allows people to take their bodies and mind online, like trackers and wearable tech
omnichannel approach
seamless and high quality customer experiences within and between contact channels
ex. offering many ways to shop
digital disruption
how we do things has changed because of digital
attention economy
there is only so much attention to go around
user persona
demographics
psychographics
every org should have 4-5 to help strategists target their efforts
demographics - include culture, subcultures, class
psychographics - motives, desires, fears
examples of extrinsic motivators
limited time specials, scarcity, loyalty programs
risks of extrinsic motivators
people focus narrowly on the task and take few risks
people see themselves as being controlled by the reward
intrinsic interest can erode
examples of intrinsic motivators
love
enjoyment and fun
self-expression
personal values
achievement
negative - fear and embarassmant
DILO
examining a day in the life of the customer
behavioral economics
looks at what assumptions or behaviors drive decision making
ex. people in India didn’t use a product because it wasn’t colorful enough to fit with their aesthetic
pricing bias
or price-quality heuristic
more expensive is perceived to be better, even if not so
loss aversion
negative feeling of loss stronger than positive feelings of gain
availability heuristic
recency bias
representative heuristic
a sample represents the whole
anchoring and adjustment heuristic
we make decisions on relative and recent info rather than on broad, objective fact
Why might it be powerful to provide default option?
people get decision fatigue
path of least resistance reduces effort
social approval - choose what others would choose
assurance - people assume chosen by expert
take advantage of loss aversion - people don’t want to remove elements
choice architecture
carefully designing choices
only have 3-5 choices with a recommended option
design visually to make preferred choice stand out
customer experience mapping
identifies and organizes every part of the customer experience
can drill down into detail on particular points
listening lab
a testing environment where a user is observed
online ethnography
researchers immerse themselves in an environment to gain insights
design thinking
a process for marketers to understand their users
is non-linear and iterative
empathize -> define -> ideate -> prototype -> test
steps of research methodology
- establish project’s goals
- determine your sample
- choose a data collection method
- collect data
- analyze results
- formulate conclusions and actionable insights
why do secondary research before primary research?
It might be enough
I might inform continued research
search methods
-broad match
-direct match
-inclusive match
-exclusive match
-Apple computers (picks up either)
-“Apple computers”
-Apple +computers
-Apple -fruit
how to do conversion optimization
tinker with things to determine what works best, such as A/B testing
analytics
info resulting from systematic analysis of data KPIs
KPIs
key performance indicators - metrics that show whether an objective is being achieved
SMART objectives
specific
measurable
attainable
realistic
time-bound
PESTLE
political
economic
social
technological
legal
environmental
(considerations for conducting situational analysis on the outside world)
what to consider when conducting situational analysis
PESTLE
the business - what it stands for, what it means
customers - don’t make assumptions
competitors - what they offer, how you can challenge or learn from them
consumer journey
series of steps and decisions a customer takes before buying or not
Porter’s Five Forces Analysis
helps determine competitive intensity and attractiveness of the market
competitive rivalry, threat of new entry, buyer power, threat of substitution, supplier power
5 Ps
products and services - what you sell
price
placement/distribution - can be global now by being online
promotion - advertising and also engagement
people
SWOT analysis
strengths
weaknesses
opportunities
threats
value exchange
unique value your org can add to the market
5 aspects of goals when crafting a strategy
objectives - what you’re trying to do and how you know if you’re successful
goals - related to visitor behavior on your site
tactics - specific action or method that contributes to achieving a goal
KPIs - metrics to indicate whether tactics are performing well
targets - specific values set for KPIs to reach
affiliate marketing
rewards for referrals
CGC
consumer generated content (most content on internet)
strategy
outline of how a product will achieve its goals
goal of marketing
to create a product or service that sells, not to sell products or services
GOST heirarchy
goals <- objectives <- strategies <- tactics
Strategy 5 Cs
Customers
competitors
company
collaborators
context - the envt., regulations, econ conditions, cultural norms
customer marketing model
awareness -> interest and engagement -> acquisition -> customer segmentation -> customer retention -> support and advocacy ->
acquisition
a prospect converts into a customer
customer segmentation
marketing to different customers accordingly
customer retention
convincing customers to buy again
support and advocacy
when customers spread the word
buyer journey
discovery: loosening of status quo -> committing to change ->
consideration: exploring solutions -> committing to a solution ->
decision: justifying the decision -> making the selection
digital marketing strategy framework
-define Digital’s mission
-derive Digital strategy
- derive the interaction strategy across the customer lifecycle
-measure and improve ROI
…rise and repeat
revisit strategy at least biannually
CTR
clickthrough rate - % conversion
CPA
cost per acquisition
CPC
cost per click
CPM
cost per mille - price per 1000 impressions
-usually offered by more volume heavy sites
-higher traffic sites tend to charge more
-overall competition for a site affects cost
-specificity of a site’s user demographics affects cost
display network
a collection of websites that serve PPC ads from the same provider
tracking
measuring effectiveness of a campaign through stats
-impressions, clicks, time of day, OS, region
tracking code
code that tracks a user’s interaction and movement through a website
USP
unique selling point
why build brand awareness
people trust what they’ve heard of
brand imagery
the result of all the visuals that represent your brand’s identity
3 steps of creating demand
inform
persuade
remind
satisfying demand
an ad must show how the product will meet the customer’s needs
attribution modeling
a certain digital channel might be better at assisting in a purchase than another, at a certain time, in a certain chain of interactions
RDAs
response display ads - an advertiser can optimize their ad for different user interface options
attributes of banner ads
have standard sizes, can be animated, can expand on mouse over
interstitial banners
shown between pages on a website or between screens on an app
Google will devalue websites that use these
floating ads
appear in a layer over the content
often animation ends by disappearing into a banner on the page
wallpaper ads
change the background of a website
purely impression based
map ads
placed on an online map - ideal for local businesses
native content
content produced that is in line with the editorial style of the site, but is sponsored
VCPM
viewable cost per mille - you only pay for impressions measured as actually viewable
flat rate
sponsorships
pay a flat rate for a time to matter the traffic
sponsorships mean no other advertiser will appear
CPE
cost per engagement - mouse overs, likes, comments, shares
premium booked media
advertiser contacts media provider and discussions options for placing ads
advertising networks
GDN
group of websites under a single sales entity - sites can be categorized to reach target audiences
Google Display Network
advertising exchange
unsold ad space (inventory) placed by publishers for bidding
programmatic buying
automated purchasing of ad space using software - not a complete automation - monitors spending to look for areas of improvement
blind networks
premium blind networks
advertisers can target by country or type of content, but not specific websites
premium - targets better known brands and high traffic sites
premium networks
offer more direct targeting and bid options than blind networks
advantages of ad servers
agencies can load once and modify rotations or add new units on the fly
provide a wealth of data
allow sophisticated targeting
frequency capping
limiting the number of times a user sees an ad
sequencing
order of the ads a user sees
roadblocks
an advertiser gets all inventory on a page
expressions
lists of users, such as those who have visited certain websites
contextual advertising
ex. in an article about mountain biking, ads for mountain bikes are shown
average click through rates in Google Search and Google Display Network
GS - 3.17%
GDN - 0.46%
dwell duration
length of time a user remains exposed to an ad after first engaging with it
-vertical ads are viewed more regularly and for longer periods
-very top not best - just above the fold better
pros of interactive ads
keep users engaged longer
generate curiosity
generate emotions
conversion rate
conversion / visitors
paid search advertising is also called
PPC advertising
Quality Score
measure used by Google to indicate how relevant a keyword is to an ad text
ROI
return on investment
ratio profit : cost
structure of Google’s Responsive Ads
-Headline 1 - Headline 2
-display URL - not necessarily clickthrough URL but must be same domain (vanity URL) - QS is improved if it matches the keywords
-descriptions - up to 4 lines of 90 chars each
long-tail keywords
more exact, like “free responsive wordpress theme for blog”
very targeted search with less competition, so cheaper and may yield huge conversion rate
deep linking
sending users to an internal web page as relevant to their search as possible
bad to just send to the home page
structured snippet / featured snippet
direct answers to searches that appear at the top of results
-Google likes tables and numbered lists
-70% come from pages outside of the first organic listing
kinds of automated extensions added by Google if they think they’ll improve ad performance
-seller rating
-dynamic site links
-dynamic structured snippets - additional landing page details
dynamic callouts - pulls info from landing page and places as ad headline
behavioral targeting
ex. can show SERP ads to people who left something in their cart (remarketing/retargeting)
GSP / Vickrey Auction Model
generalized second price auction
auction held every time a user does a search
highest bidder gets top spot and pays amount that second highest bid plus a standard increment
Quality Score calculated based on
-expected CTR
-ad relevance
-landing page experience - relevance
advertisers with lower QSs pay more
dynamic landing pages
a script can take the keywords a searcher used and insert them into the landing page, so they don’t have to build a ton of different pages
2 key factors to determine where your ad ranks
max bid
QS
stimming
part of broad match - ex. including “cheap” and “cheaper” when someone searches “cheapest”
stimming
part of broad match - ex. including “cheap” and “cheaper” when someone searches “cheapest”
dynamic keyword insertion
ex. someone searches “cheese pizza” and ad headline shows “Papa John’s cheese pizza”
dynamic keyword insertion
ex. someone searches “cheese pizza” and ad headline shows “Papa John’s cheese pizza”
CTA
call to action - what you’re asking the user to do
BEP
break even point - how low your CPC needs to be to actually come out ahead
LTV
lifetime value - the assumption of what a customer will spend over their lifetime
link bait
creating content specifically designed to generate backlinks
meta tags
tell search engine spiders what a site is about
robots.txt
file in root directory of a website that restricts spiders from indexing certain pages
XML sitemap
guide that helps search engine index a website
- how many pages, how often updated, how important they are
off-page optimization
building links to site, social media, digital PR
ethical ways to generate links to your site
-create excellent, valuable content
-create tools and documents others want to use
-create games
-add widgets
-find out who’s linking to competitors
black hat SEO
process that tries to game the SEO system
likely to be removed from indexing if caught
types of link anchor text
exact match - exactly mirrors keywords
partial match
branded - company’s brand name used
generic - “read more”
naked link - actual URL
options for mobile website design
m.site.com - different version than desktop
dynamic serving - single URL but changes based on device
responsive design - same html
