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Pepperdine > MT > Flashcards

MT Flashcards

1
Q

The profound transformation of business and organizational activities, processes, competencies and models to fully leverage the changes and opportunities of a mix of digital technologies and their accelerating impact across society in a strategic and prioritized way, with present and future shifts in mind.

A

Digital Transformation

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2
Q

the 4 axes of digital transformation

A

Customer experience

Operational processes

Business Models

People and collaborators (who takes care of clients)

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3
Q

What are the 3 main drivers of digital transformation

A

Traffic (own, paid, earned)

Conversion (purchase, subscription, etc.)

Avg Basket

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4
Q

What is owned traffic?

A

comes from own channels (SEO)

example: the Instagram page for the Australian Open may bring people to the website or app to follow scores

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5
Q

What is paid traffic?

A

comes from 3rd party pages and you pay for it (SEA)

Main points here are customer segmentation, media selection and keyword selection

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6
Q

What is earned traffic?

A

comes from 3rd party pages and you don’t pay for it (SEO)

main thing is brand/reputation

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6
Q

What is earned traffic?

A

comes from 3rd party pages and you don’t pay for it (SEO)

main thing is brand/reputation

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7
Q

What is SEO?

A

Search engine optimisation: the process of getting traffic from free, organic, editorial, or natural search results in search engines

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8
Q

What is SEA?

A

Search engine advertising, also known as SEM (search engine management) and involves paid keywords in search engines such as Google, Yahoo and Bing.

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9
Q

The 2 main types of Digital Business

A
  • Companies that sell products and need traffic on their site so that people know they exist (Rolex, United Airlines, etc)
  • Companies that sell data from their users to companies that need traffic (Google, Meta, etc)
    o The data allows the companies looking for traffic to get better traffic results using the same budget.
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10
Q

What is CTA

A

call to action: marketing reference to a piece of content such as an image, button or text.

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11
Q

_________ are important in determining whether the customer wants to click on the button or convert (purchase) and they depend on the biopersona (our segment).

A

Product, price, promotions, placement

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12
Q

What is the bounce rate?

A

The frequency people don’t click on the product button from the page after having seen the 4P’s on the page

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13
Q

Conversion rate depends mostly on _____

A

Product, price, promotions, placement

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14
Q

What makes up the market mix “place” in digital marketing?

A

Usability (UX)

Customer Experience (CX)

Customer Journey

Omnichannel (Instagram, in-person, website, Facebook)

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15
Q

What’s upselling

A

persuading customers to buy additional shit when they are about to finish the purchase (Ex: Airplane flight will offer extra baggage stuff at the end)

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16
Q

What 2 things make up Search Engine Marketing (SEM)

A

SEA & SEO (Advertising and Optimisation)

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17
Q

What are long tail searches? Are they SEO or SEA friendly?

A

more specific, niche keywords (generally more used in SEO because they have lower competition)

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18
Q

What are head tail searches? Are they SEO or SEA friendly?

A

Shorter searches with key words. They are very competitive (more searches) so there’s a lot of paying and advertising which is SEA.

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19
Q

what is ZMOT (zero moment of truth)

A

the own initiative to buy something from the customer

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20
Q

What are the goals of social media marketing (SMM)

A
  • Sales
  • Lead Generation
  • Brand Awareness
  • Brand Engagement
  • Customer Acquisition
  • Customer Retention
  • Reputation Management
  • Thought Leadership (share insights with target audience)
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21
Q

Organic (free) social media reach is _____

A

declining. Facebook algorithm has been focusing on getting paid.

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22
Q

What are 5 characteristics of good content on Social Media?

A
  1. Relevant
  2. Personalized
  3. Interactive
  4. Integrated
  5. Authentic
23
Q

in social media, what’s reach?

A

views of posts (organic + paid)

24
Q

in social media what is base?

A

number of social media followers (users targeted)

this indicates potential reach

25
Q

in social media, what is engagement?

A

likes, comments and shares

26
Q

in social media, what is conversion?

A

sales, app downloads, donations, store lookups

27
Q

What are the measurement & KPI’s of social media content

A

Reach = number of users who saw the post

Clicks

Follower Growth

Engagement Rate = engagement volume (likes, comments) / base volume

28
Q

what is social media monitoring

A

collecting every social mention and interactions with the intention of taking an IMMEDIATE action (reply, like, route the message to sales or customer support)

29
Q

what is social media listening?

A

tracking conversations around specific topics, keywords, phrases, brands or industries with the intention to collect insights to discover opportunities or create content

29
Q

what is social media listening?

A

tracking conversations around specific topics, keywords, phrases, brands or industries with the intention to collect insights to discover opportunities or create content

30
Q

How to conduct sentiment analysis

A

Positive comment = +1 point
Neutral = +0 points
Negative = -1 point

Together they create a composite sentiment score

31
Q

what’s churn rate?

A

the rate at which customers stop doing business with a company

32
Q

What is CPM?

A

Cost per Mille = Cost per Impression times 1000

33
Q

What is cost per impression?

A

CPI is when a company pays variable fee to the page that has traffic depending on how many people view the page

34
Q

What is cost of acquisition (CPA/CAC)?

A

CPA is a variable cost per product sold to the website that got the click for them

35
Q

What is cost per click?

A

the middle ground between CPA (benefits company) and CPI (benefits website). It is a variable payment for each time someone clicks on the ad when going through the website

36
Q

Click through rate formula

A

Clicks / Impressions

37
Q

Conversion rate formula

A

Sales / Clicks

38
Q

ROI formula

A

Return on Investment Formula = (Revenue - Total Cost) / Total Cost

39
Q

ROAS formula

A

Return On Ad Spend = Revenue / Ad Cost

40
Q

What KPI tells me whether the promotion is working or not (whether it’s good?)

A

ROAS = Return on Ad Spend

If the CTR (click through rate = clicks / impressions) is bad and ROAS is good, it is a matter of ad placement on the site’s page, rather than the quality of the ad.

41
Q

What is the best cost per click for a company (the max CPC)

A

Best CPC = Target CPA (cost per acquisition, the variable cost per product sold) times conversion rate (sales / clicks)

42
Q

If we aren’t getting the conversions we wanted, it can be due to:

A
  • Having the wrong biopersona
  • Offering the wrong marketing mix for that biopersona
    o You analyze where the issue stems from using KPI’s
43
Q

does B2B or B2C have higher conversion rate (sales per clicks)?

A

B2B has higher conversion rate (sales per clicks) than B2C
- It’s due to the buyer persona being clearer for businesses
- Therefore it’s easier to create a marketing mix for them

44
Q

what are surveys good for?

A

validating hypothesis

45
Q
  1. Visibility
  2. Freedom
  3. Error Prevention
  4. Flexibility
  5. Error Recovery
  6. Mapping
  7. Consistency
  8. Recognition
  9. Minimalism
  10. Help
A

10 Usability Heuristics

46
Q

5 customer journey steps

A
  1. awareness
  2. consideration
  3. decision
  4. delivery and use
  5. loyalty and advocacy
47
Q

______ is the broader economic and social infrastructure that enables the work of creators.

A

Creator economy

48
Q

Can creators create products or do they just create content?

A

Creators:

  1. create value in content & PRODUCTS
  2. use technology to amplify reach
  3. Monetize
49
Q

What are the type of app (mobile) income models

A

paid apps

in app purchases

subscriptions

freemium

sharing economy/purchase

intermediation

50
Q

what is the goal with app marketing

A

get as many users as possible for the minimum price

51
Q

Lifetime value formula

A

Average monthly revenue per customer times # months in customer lifetime

52
Q

How to calculate the Max Cost Per Tap Bid (Cost per tap is cost per click but on App Store with Apple for apps)

A

Conversion rate * Target CPA

53
Q

What does a 1:1 customer lifetime value to customer acquisition cost ratio tell me?

A

LTV : CAC(or CPA) = 1:1

Means that we will lose money the more we sell. 3:1 or more is better

Pepperdine (5 decks)

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