week 8 Flashcards
explain advertising (broadcast):
objective
strength / weakness
digital example
obj - introducing a new brand / product
wide reach
not as targeted
e.g. youtube ads
advertising may direct to website via tv. website may provide rational purchase information, while tb provides emotional purchase information
explain advertising (print + support):
objective
strength / weakness
digital example
inform about product changes
strength - ability to use detail
weakness = clutter
e,g, directing consumers to website
explain point of purchase (print + support):
objective
strength / weakness
digital example
stimulate sales/ trials at point of purchase
strength; opportune reminder of purchase
weakness; needs retailer support
e.g. online content (including sales promotion)
sales promotion digital example
can be conducted by hosting fb competitions from which data can be used in special email offers
define marketing analytics
The practice of measuring, managing and analyzing marketing performance to maximize it’s effectiveness and optimize return on investment
define descriptive analytics
What happened / is happening?
define predictive analytics
what might happen
define prescriptive analytics
what should we do
possible metric exampes
conversion rate - visitors who go to the website that go onto peform the purpose for which you’ve got them to the website for (e.g. download a brochure, make a purchase)
page views
unique visitors
new visitors
bounce rate - scan home page and immeditavley leave
abdoment rate - not following intended process (e.g. filling cart but not purchasing)
cost per conversion - cost of advertising divided by number of conversions
why should carefully consider data
Cost – You can reduce your costs by knowing who and where to target
Consumer insights – What do consumers like and what don’t they like
Measuring performance – How are my marketing efforts performing
Competitive analysis – How are my competitors marketing and should I carve out a different niche
Personal agency and privacy – How are marketing efforts working on you
explain measuring peformance
How are my marketing efforts performing
explain competitive analysis
– How are my competitors marketing and should I carve out a different niche
online cost consderations
Online cpm = Cost per 1000 impressios ($0.25 average)
Click through rate (ctr) = (number of users that click on specific ads) / (number of people that saw the ad (1% average)
o Tends to reflect how successful an ad has been capturing the consumer’s attention
o Average depends on many factors – targeting, direct marketing, ease, size of the ad
Cost per click (CPC) Fixed cost charged every time a person clicks on an ad
o $0.90 average
Cost per acquisition (CPA) Fixed costs charge every time a person clicks on an ad and completes a desired action (e.g. signs up or buys a product)
o Differs depending on action
growing importance of mobile marketing
1.) People are increasingly using/looking at their phones – average of 2 hours, 51
minutes / day (ComScore 2017 Report).
2) More mobile means more data
3) Mobile Commerce is also rising (24.4% 2017 of all e-commerce)
4) Shoppers use Mobile to make decisions in-store
5) Lower Clutter on SMS / Whatsapp etc. (compared to email)
6) Mobile-friendly sites have better Search-engine optimization
What should you do as a marketer?
- ) Be prepared to talk with customers via messaging apps
2) Communication needs to grab attention
3) Websites and other online interfaces need to be geared for mobile
4) Be searchable
how to accomodate mobile marketing as a marketer
as a marketer?
- ) Be prepared to talk with customers via messaging apps
2) Communication needs to grab attention
3) Websites and other online interfaces need to be geared for mobile
4) Be searchabl
