Week-4 Learning Objectives Flashcards
What will you learn?
1) Performance Marketing
2) Working with data
3) How data can help you find out what’s working well.
4) How to adapt to necessary change.
5) Data storytelling
Performance Marketing
The process of using concrete information about customer behaviours to plan and refine marketing and sales strategies.
Customer lifetime value
The average revenue generated per customer over a certain period of time.
ROAS (return on ad spend)
How much revenue was gained versus how much was spent?
Data
A collection of facts or information
Key Performance Indicator (KPI)
Measurement is used to gauge how successful a business is in reaching a business or marketing goal.
Data Analytics
Monitoring and evaluating data to gain actionable insights.
Ways of working with data
1) Pulling
2) Reporting
3) Analyzing
Data pulling
Collecting data from analytics tools and putting it in a spreadsheet or database.
Data reporting (Performance reporting)
Organizing and summarizing data to track performance across marketing and sales efforts.
Data analysis
Examining data to draw conclusions, make predictions, and drive informed decision-making.
Attribution
Determining which content and channels are responsible for generating the leads, conversions, or sign-ups.
Attribution Models
1) Data-driven
2) First click
3) Last click
4) Linear
Data-driven attribution
Measures customer engagement with marketing content across channels to understand what’s motivating them to take action.
First click attribution
Assigns all the credit to the first touchpoint that eventually leads to a conversion.
Last click attribution
Assigns all the credit to the last known touchpoint before conversion.
Linear attribution
Assigns equal credit to each touchpoint along the customer journey.
Data storytelling
Conveying data insights to a specific audience using a clear and compelling narrative.
Narrative context
1) What do your insights mean?
2) Why do they matter to your audience?
3) What can they do about them?
Data Visualizations
Graphical representations of data that convey information.
What we covered
1) How performance marketing can help businesses succeed.
2) Collecting, organizing and interpreting data.
3) How conveying insights through stories can help businesses make informed, data-driven decisions.
Change Management
Organizations use methods, practices, approaches, and processes to ensure changes are implemented smoothly.
Personally identifiable information (PII)
Information that could be used to directly identify, contact, or locate an individual.
