Week SEVEN & EIGHT: Digital Marketing

Question 1

What is digital marketing

What are the benefits of two/multi way communication and digital marketing

Answer 1

= marketing of products or services using digital technologies

One way to Two-way / Multi-Way Communication

• > Allows for consumer feedback on brand and products
• > Generates stronger relationships between brand and consumer
• > Allows for one-on-one discussion to meet consumer needs
• > Consumer-to-consumer WoM (good and bad)

STRENGTHS

• Personalisation
• Interactivity
• Cost-effective
• Sales conversion
• Behavioural tracking/targeting
• > Visit specific websites
• > Offline behaviour
• > Search specific keywords
• > Receive emails from competitors
• > Demographics and psychographics
• > Similar purchases
• Targeting
• Accessibility (to company)

Question 2

What are the most important aspects to SEM (search enging optimisation)

Answer 2

• People searching for key terms relevant to your business are likely target customers

Keywords:
- targeting and matching, HTML tags -> more obscure ‘long tail’ searches for newer websites
Backlinks:
- social media, other websites
Content and design quality:
- no broken links, people stay on page, loading speed, optimised for mobile

Question 3

Outline what is social media, why people use social media and how marketers can utilise social media

Answer 3

= digital platforms that facilitate people engaging with the brand, brand communities, sharing information and content

People engage in social media for hedonistic (pleasure, social connection, status) or functional (seeking information) reasons

USES of SM

• Allows for transmission of (influence) impressions
• Instances of people posting in social media that influences their peers
• Learning about customers needs and opinions
• Building dialogue and engagement
• Talking with customers and enhancing advertising
• Achieving brand equity and relationships
• Utilising viral marketing
• Increasing exposure

Question 4

Outline pros and cons of some SM platforms

Answer 4

F/B
\+ largest SM 
\+ analytic insights and targeting
- saturated 
- pay to push ads

Twitter
\+ strong analytics
\+ strong customer service tools
- limited content
- expensive

Snapchat
\+ mobile
\+ rapidly growing
- resource intensive
- requires creativity

Question 5

Outline some of the reasons marketers are slow to adopt SM

Answer 5

1. Cost and time
   - Companies fear that social media may require too many creative staff and too much time
2. Knowledge risk
   - Senior managers are less familiar with new media, so avoid it
3. Incentive structure
   - Advertising firms with traditional media expertise have strong incentives to maintain current fee structure
4. Measurement
   - Gross rating points and clickthrough rates are more comfortable measures than page views or engagement
5. Loss of control
   - Marketers are accustomed to taking a top-down approach to brand positioning and fear losing control of their brands

Question 6

Outline the STEPPS Model of Virality

Answer 6

Social currency

• We share the things that will make us look good and don’t want to share those that make us look bad
• Tend to share positive information
• > Self-presentation desires and don’t want to be perceived as a ‘downer’
• > We want to make others feel good
• > We want others to learn about positive things (eg. good restaurant)
• People typically don’t want to share an ad unless it comes with some level of social currency
• > Make people feel like insiders (scarcity)
• > Game mechanics (social comparison)
• > Find inner remarkability (break through clutter)

Triggers
- Top of mind, tip of tongue

Emotional
- When you care, you share (high arousal)

Public
- Built to show, increase imitation

Practical Use

• News you can use
• We share practically useful information (eg. coupon codes)
• > altruistic/reciprocity
• > Appear knowledgeable
• > self-enhancement

Stories
- Stories travel

Question 7

What are marketing analytics and why are they important

Answer 7

= the practice of measuring, managing and analysing marketing perforamnce to maximise its effectiveness and optimse ROI

Descriptive analytics: what happened/is happening
Predictive analytics: what will happen
Prescriptive analyrics: what should we do

• Cost
• > Can reduce costs by knowing who and where to target
• Consumer insights
• > What do consumers like/not 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