Strategy

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Questions and Answers

What is the primary goal of Tesla's loyalty strategy?

Maximize brand visibility.

Cultivate a passionate community. (correct)

Educate buyers on technology.

Generate excitement about Tesla.

Unibet's awareness strategy aims to convince customers of their value.

False (B)

What metrics are used to measure consideration in marketing?

Website engagement metrics such as clicks, CTR, and CPC.

Tesla aims to generate excitement and position itself as the future of _____

mobility Signup and view all the answers

What does 'CPM' stand for in advertising metrics?

Cost per 1000 impressions (B) Signup and view all the answers

Reach is equal to the total number of impressions generated by an ad.

False (B) Signup and view all the answers

What does RoAS measure?

Return on ad spend Signup and view all the answers

The _____ rate indicates the percentage of customers who make a second purchase from your business.

Repeat Purchase Signup and view all the answers

What do benefits in product marketing refer to?

Advantages gained by the customer (C) Signup and view all the answers

Unique selling points are used to address the fears of potential clients.

True (A) Signup and view all the answers

What is the primary goal of the Awareness stage in the digital funnel?

Create visibility and attention Signup and view all the answers

In the middle of the funnel, the goal is to encourage __________ and evaluation.

engagement Signup and view all the answers

Match the following stages of the digital funnel with their goals:

Awareness (TOFU) = Create visibility and attention Consideration (MOFU) = Encourage engagement and evaluation Conversion (BOFU) = Turn interest into action Loyalty and Advocacy = Signup and view all the answers

What is one of the main business aspirations mentioned for defining a strategy?

Achieving significant increases in market share (B) Signup and view all the answers

Increasing the average basket value means encouraging customers to spend less during their visits.

False (B) Signup and view all the answers

What method can be used to identify the root cause of customer problems in a value proposition development?

The Five Whys Signup and view all the answers

Digital marketing helps increase market penetration by finding new consumers and ______ existing customers to purchase more frequently.

encouraging Signup and view all the answers

Study Notes

Digital Strategy Summary

Business Aspirations: Define overarching business goals and aspirations; examples include regaining brand greatness, becoming industry leader, achieving market share increases (e.g., 5-10% in a year).
Setting Clear Objectives: Establish measurable marketing objectives aligned with business aspirations (SMART goals); examples include revenue growth, enhanced profitability, and market share improvements.
Digital Marketing for Market Penetration: Digital marketing increases market penetration by finding new customers and expanding the customer base. It also encourages existing customers to buy more frequently and purchase higher-priced or complementary items.
Key Improvement Areas: Physical availability (ensuring product/service accessibility) and mental availability (building customer brand awareness).
Actionable Communication Challenges: Develop communication strategies that resonate with the target audience. Examples include encouraging families with children to buy more fruits and vegetables; increasing average basket value by a defined amount (e.g., €3 per visit); using effective (empowering, inspiring, motivating) verbs in campaign messages.
Value Proposition Framework: Define a strong value proposition; conduct research, analyze customer base (interviews, feedback), identify market trends and competitor insights; exclude segments not aligning with business goals.
Techniques to Build a Strong Value Proposition: The Five Whys (repeatedly asking “why” to understand root causes of customer problems), and analyzing Features, Benefits, and Experience aspects of a product (tangible features, advantages, and emotional responses).
Addressing Substitutes, Fears, Needs, and Wants: Highlight differentiating features to stand out, address customer concerns using clear messaging, identify rational needs (saving time, gaining control), and understand emotional influences (belonging, curiosity).
Setting Up the Funnel (Digital): A structured customer journey with phases: Awareness (making customers aware), Consideration (engaging customers to evaluate options), Conversion (driving action, e.g., purchases), and Loyalty/Advocacy (fostering repeat customers and brand advocates).
Metrics and Examples Across the Funnel: Examples of metrics used to track improvement include brand impressions, ad recall rates, website engagement metrics, sales figures, repeat purchase rates, and customer satisfaction metrics.
Actionable Strategies for Implementation: Use dynamic verbs (empower, ignite, motivate, engage, collaborate) in campaign messaging for inspiration and connection.
Connecting Rational and Emotional Drivers: Leverage rational needs (time-saving, information access) and emotional drivers (curiosity, belonging, scarcity).
Continuous Optimization: Use data on various funnel stages, customer feedback, and market trends to refine strategies and test new approaches. Includes specific key performance indicators (KPIs) for tracking progress; examples like website visits, clicks, conversions, impressions, etc.

KPIs (Key Performance Indicators)

Awareness: Impressions, Views, Reach, Share of Voice, Share of Search.
Consideration: Website engagement (clicks), Content interaction (downloads, views), and Cost Per Click (CPC).
Conversion: Sales, Lead Generation, Secondary Conversions, and Cost Per Thousand Impressions (CPM).
Loyalty/Advocacy: Repeat Purchases, Customer Lifetime Value (CLTV), Churn Rate, Customer Retention Rate, Net Promoter Score (NPS), Social Media Engagement.
Think Metrics: Clicks, CTR, CPC, Website Visits.
CARE Metrics: Repeat Purchase Rate, Customer Lifetime Value (CLTV), Churn Rate, Customer Retention Rate, Net Promoter Score (NPS), Customer Satisfaction Score (CSAT), Social Media Engagement, Reviews and Testimonials, Referral Rate, Brand Advocacy Activities.

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Description

Explore the essential components of a digital marketing strategy aimed at achieving business aspirations. This quiz covers setting objectives, market penetration techniques, and key areas for improvement to enhance customer engagement and brand awareness.