Social Media and Digital Marketing Analytics Final – Flashcards
36 test answers
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Display Ads
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Brand awareness, increase visibility, display ad remarketing
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Marketing Funnel
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Eyeballs --> Awareness, Consideration, Preference, Action, Loyalty --> Buyers Traditional: paid advertising or PR, earned traditional WoM New marketing funnel: Buyers --> Customer Service FB, Twitter, reviews, communities, social commerce, Twitter, FB, Youtube and Blogs in middle
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New Marketing Funnel areas of change
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Market research, new product development, customer interactions, brand positioning, targeting, creative
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Inbound Marketing
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-Attract, convert, close, delight -Pulls buyers into your business -Focus on earning attention of customers -Use engaging content to communicate your message -Use content to drive customers to your website, apps, stores, etc. -Content, SEO, Social Media http://cdn2.hubspot.net/hub/53/file-295979897-png/methodology/methodology-highlighted-1-2-3-4.png?t=1378504205000
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Outbound Marketing
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-Marketing that pushes products/services on consumers -TV, direct mail, and other traditional forms of advertising -Doesn't work! Inbound is solution
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Converting visitors to leads
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-Offers and CTAs -Landing pages -Email marketing -Conversion rate opto -SEM
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Paid Search concepts
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-Value a click (margins + customers not clicks --> margin per sale x conversion rate = CPC) -Search funnel -Ad copy
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Above the fold
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Clicks higher depending on position
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Break-even CPC
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MPS x CVR = break-even CPC (if you pay more than this per click you're losing money)
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Increase conversion rate
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-This increases break-even CPC -A/B experiments
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Big Data (4 criteria)
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4 Vs 1. Volume (at rest) 2. Velocity (in motion) 3. Variety (in many forms) 4. Veracity (in doubt, identifying signal from noise)
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Big Data (4 forces)
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1. Enterprise systems 2. Social media 3. Mobile 4. The internet of things
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Internet of things
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Nike running example - use data for -Product design -Buy new shoes reminder -Open new store -Accessory sales -Integrating apps (ex. music) Other examples - fridge, smart pill bottle
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SEO
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-Different from paid search -PageRank algorithm - importance of linking, each link from one page to another is counted as a vote for destination page -TrustRank algorithm - initial votes come only from trusted pages, get links from trusted quality sites
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Google Panda (and penguin)
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Change to lower rank of low quality sites and amend algorithm
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Why does paid search work so well?
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-Targeted - location, devices, searches, languages, time of day -Measurable -Active - advertise to those who have proven their intent to purchase
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3 Types of Searches
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-Navigational -Informational -Transactional
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Sponsored search advertising
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-Campaigns -Ad groups - keywords and ad copy -Keywords - relevant to query and product/service
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Sponsored search terminology
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-CTR -PPC/CPC -Daily budget
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PPC auction model
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-Basic model - highest bidder gets highest spot, winner pays winning bid (not ideal) -Vickrey-Clarke-Groves (VCG) Auction - second price auction, optimal for single slot, reveals true willingness to pay no need to be strategic, winner for slot i pays maximum bid of bidder that gets i+1 spot (still not best) -Google - bid amount x quality score = ad rank --> position
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Quality score
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CTR, ad relevancy, keyword relevancy, landing page quality, historical performance, various relevancy factors AKA secrets Higher quality scores - easier and cheaper to enter ad auction, lower CPCs, better ad position
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Impact of organic on paid
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-Complement or cannibalize? -Complementary effect! Increase in expected profits, likelihood of getting click and conversion is stronger
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Search funnel
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-Search box -Search page -Landing page -Convert
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CTR
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clicks/impressions
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Conversion rate
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conversions/clicks
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Campaign metrics (KPIs)
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-Existing DoubleClick metrics - CPC, CTR, TCR -Additional metrics - net revenue, ROAS, average revenue per booking, probability of booking (CTR * TCR) *Use pivot tables to summarize metrics for each pub
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Problems to optimize
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-High CTR, low conversion rate = poor landing page? -Lots of impressions, no clicks = new ad copy?
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Display and Search
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-Display increases searches for advertised brand -Increased searches for competitor's brand -Spillovers = good
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Descriptive statistics
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Summary of data characteristics (number of observations, mean, min/max, standard deviation)
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Stata summary and detail
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sum price, detail (can put in as many variables of interest)
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Correlation
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Degree to which two variables have a tendency to vary together (ranges from -1 to 1) pwcorr variables, sig (use to display statistical significance)
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Regression
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Used to examine how to value of a variable (dependent) changes when the value of another variable (independent) is altered, given all else equal. Unit increase in X changes expected value of Y by amount B Y = a + BX + e reg dependent variable independent variables Step-wise linear regression - step by step add variables to regression model
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