Module 1 Flashcards
Device
What you are using when performing an action. E.g. phone, computer, tablet, etc.
Impression
An advert or any digital media is displayed on a person’s (aka users) screen
An impression does not constitute a view
Reach
Refers to the number of people who may have seen your ad/content
Reach and impressions are often confused: You can REACH 100 people but have 200 IMPRESSIONS
Frequency
The number of times someone may have seen the same ad
Conversion
A conversion occurs when a person completes a desired goal (e.g. a purchase or submitting a form)
Lead
A person becomes a lead when they have voluntarily submitted their contact details to the business
Remarketing
Showing ads or content to people who have previously visited/interacted with your website or social media
Only 2% of people convert on the first time they have interacted with you
Metrics
Measurable value used to show the effectiveness of marketing efforts
- Metrics answer the question of “how do I know if I have achieved my goals”
- This is another difference between digital and traditional marketing: tracking can give you accurate and exact statistics*
Segmentation
Grouping audiences together based of different criteria, with the aim to target or re-target them with more relevant info/ads
LTV
Lifetime Value: The projected revenue that a customer will generate during their lifetime
CPC
Cost per Click
CPM
Cost per 1000 Impressions
CPV
Cost per View (specifically for videos and video ads)
CPA
Cost per Acquisition
CPL
Cost per Lead
CPE
Cost per Engagement
SEO
Search Engine Optimization
SEM
Search Engine Marketing
SMM
Social Media Marketing
Objectives
Goals set by a business when promoting itself to potential customers, which should be achieved within a given timeframe.
These should be specific, not broad
KPI
Key Performance Indicator - A measurable value that shows if a business is their objectives
Examples of KPIs
Awareness
Sales
Retention
Awareness
Getting people to see your brand and its offerings -Indicators of awareness Impressions Frequency Reach Ad recall Engagement
Sales
End goal is revenue -Indicators of Sales ROI (Return on Investment) ROAS (Return on Adspend) CPA (Cost per Sale) Conversion Rate
Retention
Keeping your consumer -Indicators of Retention: Lifetime Value Conversion Rate Engagement Segments
Performance Marketing
Specific channels and strategies where a business only pays when a goal has been achieved, for example a lead, sale, or download.
Affiliate
Handles a lot of the admin of affiliates
- Apply to market your business
- Business pays a flat fee or commission when there is a conversion
- This is flat fee, not fluctuating
Influencer
- Similar to Affiliate
- Harder to track
Core Traits of Performance Marketing
- Analysis
- Optimization
- Communication
- Efficiency
Main Consideration in Performance Marketing
- Tracking
- Budget
- Channel Selection
- Landing Pages
- Competition
- Volume
Browser Cookies
Identify users, change web pages, and save information
Session Cookies
Erased when closing browser
Persistent Cookie
Expiration set on creation
- Some never expire
- This is how marketers track your activity on the internet and target you with ads
Marketing Sales Funnel
A collection of stages the you ideally want your potential client to follow towards your key objectives
Called Funnel because…
The number of customers decreases further down the funnel you go
What kinds of things cause people to make a purchase?
- Type of information the receive
- How they look for that information
- Where they look for it
Why do we need a marketing sales funnel?
It allows you to plan:
- How you will attract traffic
- What you are going to target an audience with
- What you need to track in order to measure performance
CTA
Call-to-Action
How do Funnels Help Meet Objectives?
- Help you cater content relevant to behavior
- Optimize communication methods
- Adapt targeting strategies
What is a conversion?
A conversion happens when a site visitor completes a desired action, e.g. submitting a form, making a purchase, etc.
What are the layers of the AIDA funnel?
- Awareness
- Interest
- Desire
- Action
Awareness Phase
The potential buyer is just realizing a want or need for something.
Examples: viewing an ad, blog post or social network, search on Google
Interest Phase
Where the potential buyer begins to consider the purchases seriously
Examples: Visit your site, research your brand, following social media pages, making comparisons
Desire Phase
The interest has moved definitively to planning on buying a product
Examples: Moving from “like” to “want”, revisiting the website, submitting a lead (like contact info), etc.
Action Phase
A consumer will purchase or show engagement.
Example: Makes a purchase, takes out a trial, books a demo, etc.
What are the steps of the 6 Stage Funnel?
- Awareness
- Interest
- Consideration
- Intent
- Evaluation
- Purchase
Consideration Phase
Remarketing with CTAs
Intention Phase
Remarketing again to remind lead of best offerings of the business
Evaluation Phase
Emails, remarketing, special offers
Purchase Phase
Upsells, pushing for more purchases
What is the See, Think, Care, Do model?
- See - The brand’s largest qualified audience
- Think - Consumers thinking about product/service
- Do - Read-to-Buy customers
- Care - Ongoing communication to inspire repeat purchases (aka retention)
What model takes loyalty and advocacy into consideration?
The Marketing Life-Cycle Model
VAC: Performance Focused Funnel Model
- View
- Act
- Convert
* All efforts are focused towards the highest percentage of qualified or high interest users and pushing them to convert.
* No interest in “upper funnel” phases
What is the customer journey?
A detailed outline of every step a lead takes to becoming a paying customer
B2B
Business to Business
B2C
Business to Customer
Margins
The cost between your costs and your CPA (cost per acquisition)
Promotion
Reaching your target with marketing comms
Price Discrimination
Finding methods to charge varying prices based on customer segments
Market Research
Research of target markets and customers
Market Analysis
Analysis of the industry at large
What are 4 free resources for market research?
- Google Trends
- Keyword Research
- Social Media Presence
- Owned Data
User
A person
Session
A group of interactions with your site
Bounce Rate
The % of users who exited your site after just one page view
Conversion Rate
Number of people who converted/all visitors
Acquisition
Where site visitors came from (direct page search, organic search, social, referrals, etc.)
