Marketing 361: Chapters 1-6

• Study guide for Marketing 361 Mid-Term (Spring 2025), covering chapters 1-6.

Chapter 1: What is Marketing Analytics?

• Marketing analytics studies data affecting the 4Ps: product, promotion, place, and price.
• Qualitative data is descriptive, while quantitative data is numerical; non-numerical data can be converted.
• Analytics helps product managers develop new products, heavily relying on both quantitative and qualitative research.
• Companies determine product distribution based on costs, revenues, and consumer acceptance via analytics.
• Pricing is optimized to secure market share and ensure profits.
• Promotion sees extensive analytics applications.
• Analysis paralysis occurs when companies are overwhelmed by too much data due to poor organization.
• Marketing optimization is the science of making marketing activities more effective.
• Data is gathered after a campaign for evaluation and can be tested before broader rollout.
• Marketing analytics measures campaign success, optimizes sales, and informs strategic decisions across the 4Ps.
• The use of data is increasing with specific tools for each channel, impacting decision-making in budgets, product design, and sales.
• Traditional channels provide rich data sources.

Chapter 2: Internal Data: Many Sources

• Web analytics metrics include topline, funnel, and user-experience (UX) metrics.
• Web analytics inform marketers about site visitors, their origins, and their behavior on site.
• Topline metrics show website popularity through measures like visit duration, goal achievement, and unique visitor counts.
• Funnel metrics track how consumers find a website and which marketing channels drive traffic, also assessing page visits and purchase likelihood.
• UX metrics assess a company's website's user-friendliness.
• Marketing automation software automates customer interactions and generates data.
• Data-generating actions include responses to follow-up emails after purchase, visits to brick-and-mortar stores after mobile push notifications, and reminders for abandoned online carts.
• Internal data helps understand customers and connections.
• Sales information in marketing materials and messaging attracts prospective clients, guiding sales efforts.
• Customer service interactions, both quantitative and qualitative, include call recordings, social media content, and web chat transcripts.
• Product and user experience teams research how products/services are used.
• Financial information includes profit margins (percentage of retail price left after expenses) and ROI (return on investment).
• Attribution modeling assesses marketing effectiveness and the steps of a data audit.
• Determining which marketing efforts produce the most effective results is critical to ensuring company growth.
• Correct attribution considers conversion rates (percentage of users engaging in a conversion by acquisition channel) and customer lifetime value (CLV).
• Average order value (AOV) is the average value of an order placed by customers acquired via a specific channel.

Chapter 3: From Direct Mail to Ad Platforms

• External databases and research supplement internal data.
• Customer databases enhance internal data with additional dimensions.
• Market targeting gains insights into demographic of psychographic data to mind for trends
• Data informs design and positioning for new or improved products.
• Data brokers provide information about customers, businesses, or entities, including lists of names, addresses, and subscribers.
• Paid search data includes cost per click, while organic search data includes search engine results, like website linking.
• Government data can be used for conducting the census, job data, and trend forecasting.
• First-party data is collected directly from a company's customers, second-party data is shared by a trusted partner, and third-party data is purchased from an external data aggregator.

Chapter 4: The Data Engine of Search

• Core types of search data are average position, acquisition keywords, search impressions, and inbound links.
• Average positions shown in search engine are customized to users.
• Search positions change depending on user relevance.
• Every website visit from a search can be traced to the keywords used.
• From the owner's point of view, acquisition keywords are search terms that drove traffic.
• Search visibility/search impressions proprietary position into of a site
• If a site appears both often and toward the top of search results, it will have a higher visibility score.
• Many believe that weighted visibility sores are raw metrics
• Links on other sites that point to the website are inbound links.
• Technical SEO reports detail website defects affecting quality and search engine rankings, often represented as code.
• Broken links, missing metadata(headlines), and poor url structure are important to track
• SEO aims to appear naturally in search results, while PPC involves paying when an ad is clicked.
• Inbound links indicate a brand's online authority, credibility, and relevance, reflecting how often other sites link to their content.
• Paid search data includes impressions, clicks, click-through rate (CTR), cost-per-click (CPC), conversions, and conversion rate, average ad position and quality score.
• Quality score (QS) accounts for each ad.

Chapter 5: Understanding Your Landscape

• Factors like patents, SEC annual reports, and hiring reports from data brokers are traditional data sources.
• SEC filings provide annual overview in terms of industries they are in, trademarks, buildings owned, etc.
• Digital sources include sites that provide social media, web analytics, and search engine data.
• Brands monitor competitor patents for insights into technologies, products, and positioning, allowing adaptation and competitiveness.
• A competitive social media audit analyzes engagement, content, hashtags, audience demographics, brand sentiment, competitor responses, and influencer collaborations to understand a competitor's online strategy.
• Benchmarking measures performance, identifies best practices, and drives continuous improvement through comparison and helps goals and foster innovation.

Chapter 6: Measuring the Social Web

• Social media metrics are linked to ROI by measuring campaign effectiveness in sales, leads, or awareness.
• Audience size refers to the total number of followers/viewers, while engagement metrics track interaction through likes, shares, and comments.
• Audience size metrics include total followers, reach, impressions, and video views, gauging content exposure and potential audience.
• Brands measure responses to evaluate customer sentiment, track content virality, and assess brand visibility/engagement.
• Influencers range from nano to celebrity, with engagement decreasing as follower count increases.
• Sentiment analysis assesses emotional tone and provides data on overall attitude.
• Reach assesses a social media campaign's impact while Unique is an accurate reach count.

Potential Short Answer Questions

• Qualitative data is descriptive, while quantitative data is numerical.
• Qualitative data helps understand motives, while quantitative data measures/quantifies.
• Crawl error, page load speed, mobile friendliness, backlinks - Data Types Included in a Technical SEO Report
• Assisted conversions are interactions that aided a customer in buying processes before conversion.
• Cost per click (CPC) means you pay each time someone clicks on your ad, cost per action (CPA) means you pay someone when a user completes a specific desired action, and cost per mille (CPM) means you pay for thousand impressions.