Digital Marketing (Mktg 469) Study Guide for Exam 1
Digital Marketing (Mktg 469) Study Guide for Exam 1 MKTG 469
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This 5 page Study Guide was uploaded by Talia Standring on Tuesday March 22, 2016. The Study Guide belongs to MKTG 469 at San Francisco State University taught by Dr. Nga Ho-Dac in Spring 2016. Since its upload, it has received 35 views. For similar materials see Digital Marketing in Marketing at San Francisco State University.
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Date Created: 03/22/16
469 DIGITAL MARKETING STUDY GUIDE EXAM 1) Business Models: A business model: part 1 = the core value proposition and sources & part 2 = method of revenue generation/ to make money The value proposition: the value delivered to the market target customer > has need > VP > matches > capabilities <value for <enable The business models that are most prominent on the Internet. 1. brokerage: brings buyer + seller ex: ebay, alibaba, priceline, paypal, groupon 2. advertising: content & services to get traffic in order to sell ad. space ex: google, craigslist, yahoo 3. infomediary: provide info about consumers + products, info. used to market mrktg campaigns or assist consumers to make info purchase ex:edmunds, cret, mypoints (reviews) 4. merchant: sells goods + services ex: amazon, best buy, overstock 5. direct: uses digital technology to bypass the distribution to achieve efficiency, improve customer service, better understanding of customer ex: dell, salesforce 6. affiliate: offers incentives to have inbound links, banner exchange, pay per click a. traffic b. inbound link c. incentives 7. community: build community, revenue can come from sale of ancillary products + services, voluntary contributions, contextual advertising, or subscriptions for premium services ex: facebook, wikipedia, sourceforge, threadless 8. subscription: provide service & products for subscription fee ex: netflix, pandora, dropbox 9. utility: pay as you go ex: skype Music file sharing is an example of which Internet business model? Community 1. A company selling shoes online to consumers is following which business model? Merchant 2. The advertising model is an excellent way for a new business to consider making money False 2) Inbound vs Outbound Marketing Inbound mrktg: marketing activities that bring visitors in, is implied permission mrktg “pull” Permission mrktg: sellings g+s only when the prospect gives consent in advance to receive the mrktg info Why inbound marketing becomes more prominent? 1) changes in consumer behaviors: passive to active in seeking, disseminating, & creating info 2) the emergence of affordable owned, earned & shared media while paid media is less important 3) cheaper, self regulation/ regulation 4) better prospects > better conversion ex: blogs, podcasts, SEO, social media mrktg, video, whitepapers Different types of media: 1) paid: marketer controls, often nonengaging/ traditional, $ display ads, sponsorships, paid ads on social networks, PPC 2) owned: content primarily marketer initiated, can be informative, platforms free/ low cost websites, blogs, emails, newsletters, social media 3) earned: highly credible, marketers does not control content, can persist in media environment results of PR efforts articles, blog posts, WOM, buzz, viral 4) shared: high level of engagement, platforms free/ low cost, marketer does not control content brand & customer interact & cocreate content on social media Outbound mrktg: having to go out to get prospects’ attention “push” ex: advertising, flyers, telemarketing, direct mail, email How to do inbound marketing? Search SEM (search engine), Content CM, Shared SMM (social media) 1. Which of the following is an inbound marketing tool? Facebook status 2. Permission marketing is inbound marketing. False 3) Product centric vs customer centric Product‐centric mrktg: transactions B2C: sells the products or brand to more & more customers ex: acquisition, transaction, product metrics & trial/error Customer‐centric mrktg: relationship (account manager, PMP) B2B: sells more & more products to customer base ex: retention, relationship, customer metrics & test, measure + refine approach Paradigm shift: digital technology makes cust. centric feasible & desirable (even B2C) Customer based marketing: 1. Build customer base2. Differentiate customers based on customer behaviors and metrics 3. Interact with customers on the 1‐to‐1 basic 4. Customization and personalization 5. Sell more and more products to the customers in the base6. Extend the customer base based on expected customer metrics and behaviors 1. What is the focus of customer‐centric marketing? Retention 2. Customer‐centric marketing is only good for B2B businesses. False 4) Direct Response vs. Branding Direct Response: get action, tracked by conversion, tracking & testing to find out what customers do “order now” Branding: builds brand equity, tracked by reach, uses surveys & interviews to find out how people think + feel before digital age = mass media = B = larger investment, less expensive per reach than interactive media /DR = niche the digital age = interactive = affordable/ abundant = B, DR = more popular use in any business DR elements: 1) front end (offer, list, media, creative execution) 2) back end (fulfillment, service + support) good back end > satisfied customer A DR offer must have a clear call to action (and incentives) actions desired: come to the site/platform, request more information, provide information, purchase, & come back *a trusted brand is important to DR success Brand equity: Set of associations that allow it to earn more & have sustainable advantage (awareness> familiarity> positive imagery > completed transaction > repeated transaction) Brand awareness: Recognition (aided) & Recall (unaided) Brand image: Favorability, Strength & Uniqueness Digital branding: target audience, branding objectives (measurable), excellent product and customer experience, relevant content, consistent message, compelling creative, integrate with offline branding, & engage with audience (interactive media) Online brand community: “Specialized, non‐geographically bound community, based on a structured set of social relations among admirers of a brand.”, Spring up among brand aficionados, Marketer‐initiated brand communities, people who love the B ex: Harley Davidson 1. Important components of a direct response offer include: Both incentive to encourage action and a call to action 2. Marketers should set specific objectives for branding development activities. True 5) Data driven marketing: Doing marketing based on data Customers often bought similar or complementary items, Personalize recommended items on home pages/apps based on history and profile, Different customers react (open/click/purchase) to different emails, Segment the customers for email programs Customers search for products on search box, Add new products based on keywords Customers abandon shopping carts at a certain step, Redesign the step to decrease the rate of cart abandonment Driven marketing concept and process Objectives > Tests > Execution > Measurement → Measurements: Metrics—numbers—alone do not meet marketing and management needs. Only when the metrics are carefully chosen and reported in sufficient detail to guide strategic choices are business needs met. Objectives & Metrics: Data sources 1. Observation: Web metrics, App metrics, Social media metrics, Email metrics 2. Experiment: Testing 3. Conversation: Interview (individual or group). E.g. Usability testing & Survey Web metrics 1. Direct Data collection: Server request log & Tag Visitor identification to aggregate data: IP & Registered user & Cookie 2. Panel (sample) Server request log: Each file request is recorded on the server Data for each hit (file request):IP address, requesting computer, Date, time of request, Code indicating successful, failed request, Number of bytes of data transferred, Referring site, Browser, Operating system Tag: A few lines of codes placed on each page to collect and transfer data to the data server. Cookie: A small text file stored on a browser which is sent to the data server. Web analytic services: http://www.adobe.com/marketingcloud/webanalytics.html, http://webtrends.com/, http://statcounter.com/ Panel: Collecting data from consumer panels Track multiple devices., Add profile data (might use survey) to web metrics, Track dynamic and masked IP addresses, Competition analysis, Track only a sample. App metrics: Same as web metrics & Quickly being integrated into existing platforms Social media metrics: Available on specialized platforms Free from network. E.g. Facebook insights. Paid and free from specialized suppliers. E.g. http://simplymeasured.com/ Email metrics: Available on HTML emails & Use tag to collect data: bounce, open, clickthrough, share, etc. Experimental testing: A/B split is the simplest Change only one element & Test ‘big things’ Test execution: Test new vs. control & Test version A vs. version B Testing: example Version A – The Contro Version B – The Test New creative execution: Shorter product (hero) image, Move content ‘above fold’ (smaller images), White background Outcomes:Revenue per visitor 15.82%, Average order value 13.3% (Not a simple metric such as click‐through) 1. Which of the following is a true statement about tagged web pages? Neither: The users must give permission to have web pages tagged or Tagged web pages can identify users. 2. Only enterprises with sophisticated testing laboratories can conduct meaningful experimental tests. False 6) Websites Strategic context: Business websites are not an exercise in technology or aesthetics. They are an exercise in cost‐effective execution of marketing strategy. Websites must have objectives, be tested for usability, and be measured Website development process: 1. establish safe objectives Increase sales revenue, Increase visibility and branding, Advertise, Provide customer service, Generate sales leads. Retain and grow customers, Build an online community, Provide cost savings 2. identify and describe target market Who are they? (A website can serve different groups of customers.), Their profiles, Their needs and wants, Their behaviors 3. design site content and navigation structure Objectives & Target markets 4. conduct usability tests 5. deploy and tune site 6. measure and evaluate site effectiveness 7. refine and improve site effect. Above the fold > Remember: different screen sizes Golden triangle Content management system (CMS): Build and maintain websites without coding focus on the content www.weebly.com www.wordpress.org. Other website design tips: Use search options, Avoid flash, Avoid videos that load automatically, Set the home page in columns, Use large fonts and white background, Avoid scrolling, Test on multiple platforms Usability testing can be fast and inexpensive Issues in usability testing: Don’t consider eliminating it, Be sure testers are target audience, Have testers perform one or more typical tasks on site, Ask them what they think, Frequent small‐scale tests are better than one large one Deployment and tuning:Upload to host server, Balance load, Monitor site performance Measure and evaluate: Technical task Measuring and improving the site performance Marketing task Measuring and improving the business effectiveness Google analytics: Set up a property, Insert tracking tag into Weebly sites, Use Google analytics: A good web design process: Remember the marketing objectives Learn from successful experience Track best practices and competitor websites Listen to and observe customers continually 1. Which of the following should drive website design? Both: Business objectives & Target audience 2. A good copywriting technique for the Internet is to stay “above the fold.” True
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