Marketing Fundamentals

What is Marketing?

• Marketing is how companies create customer value and build strong relationships to capture value in return
• The aim of marketing is to deeply understand the customer such that the product or service aligns with their needs and effectively sells itself

Aims of Marketing

• Identify: Use market research and trend analysis
• Anticipate: Identify emerging trends and consumer needs to create new products
• Satisfy: Sell products/services meeting needs with quality, service, warranties, and brand loyalty
• Profitability: Use cost-effective marketing to reach the target market

Digital Marketing

• Process where organizations/customers use the internet to create and exchange value and products

PESO Model

• It consists of Paid, Earned, and Owned media
• Mass Media Phase (1.0):
  • Marketers sent messages to consumers ('push' model)
• Internet Phase:
  • More interaction and dialogue emerged between marketers and consumers
• Social Media Phase (3.0):
  • Reciprocal influence exists; it is now the ‘pull’ model as consumers influence brands
  • Marketers observe and support consumer perception of their brand

Paid Media

• Media marketers pay for to build brand awareness
• Examples: online advertising, radio, television, and print

Owned Media

• Readily available media marketers own and control content on
• Examples: websites, apps, and email newsletters

Earned Media

• Media coverage a brand earns through positive customer or journalist experiences
• Examples: social media mentions, blog posts, and website referrals

Optimal Marketing Mix

• Leveraging paid, earned, and owned media collectively provides the best results
• Earned: Reviews, media coverage, guest posts, mentions
• Owned: Website, blog, email lists
• Paid: Display ads, paid social media, native advertising, remarketing

Marketing Mix 4P’s

• Product: Understand what the product is, its appearance, problems it solves, experiences it offers, manufacturing costs, and branding
• Price: Determine the value offered relative to competitors and customer price sensitivity
• Place: Optimize where and how the product is distributed to outperform competitors
• Promotion: Select where and when to promote a product, and how to make the message cost-effective

The Four C's

• Customer Solution: What problem do you solve for your customer?
• Cost to Customer: What is the price/quality ratio?
• Convenience: Accommodating the customer
• Communication: Two-way communication with customers

Digital Marketing Funnel

• Visit: Generate visits to the digital sales channel
• Captivate: Ensure visitors find the content engaging and want to learn more
• Decide: Allow users to compare and evaluate products to decide what to buy
• Order: Facilitate the ordering process
• Pay: Ensure a smooth payment procedure
• Bind: Encourage loyalty and repeat purchases

Digital Content Funnel

• Reach/Attention: Publish a video on social media
• Attention/Interest/Activation: Customers pay attention to the message and become aware of the product
• Interest/Conversion: Customers develop an interest after seeing the video’s initial part; they then watch it completely
• Activation/Loyalty: The customer visits the website

Big Data

• Similar to small data but larger in size, requiring advanced technologies for management and analysis
• It uncovers insights for better decisions and strategic moves

Four V's of Big Data

• Volume: The amount of data available
• Velocity: The speed of data processing
• Variety: The types and sources of the data (structured, unstructured)
• Veracity: The trustworthiness of the data

Online Buying Process: Customer Journey

• Need Recognition
• Search for Information
• Evaluating alternatives
• Channel selection
• Purchase
• Results

Data Science

• Field using tools, algorithms, and techniques to analyze and interpret large data
• Combines statistics, programming, and machine learning to uncover patterns and make predictions

Digital Analytics: Four Types

• Descriptive: Summarizes past data to identify trends, such as website traffic reports
• Diagnostic: Explains occurrences via historical data analysis, like identifying reasons for sales drops
• Predictive: Forecasts future events; customer lifetime value analysis and forecasting customer behavior
• Prescriptive: Recommends actions based on data insights, like personalized marketing strategies

Online Shopper Profiles

• Store-Focused: Need inspiring stores, good merchandising, coupons, and brand awareness
• Pragmatic Online: Need online touchpoints, catalogs, reviews, and practical information for easy purchase
• Thorough Online: Use online touchpoints (often smartphones) and focus on reviews and good deals
• Multi-Touchpoint: Use mainly online touchpoints (often smartphones), good search presence, and seamless online/offline offers
• Online to Offline: Use mainly online touchpoints, make purchases in physical stores, seek online inspiration

Social Media Motivations

• Entertainment: Relaxation and enjoyment
• Information: Seeking updates
• Personal Identity: Seeking recognition
• Integration: Connecting with like-minded individuals
• Reward: Participating in brand-related activities for discounts
• Self-Fulfillment: Exercising Influence

Branding Meaning

• A network of functional and emotional associations between elements in the consumer's memory
• Creating a unique identity with name, logo, design, and messaging for recognition
• Strong branding helps businesses stand out and build customer trust

Building Brands through Social Media

• Leverage influencers to communicate brand messaging
• Encourage user-generated content
• Ensure targeted reach through advertising
• Share brand content and start conversations

Types of Influencers

• Celebrity Influencers: Individuals who have become famous as a results of their career
• Micro-Influencers: Passionate individuals with niche knowledge
• Advocates: Brand enthusiasts who share without compensation
• Social Media Influencers: Individuals with substantial fame

Influencer Marketing: How Brands Work

• Brands provide incentives relevant to influencer reach
• Exchange new products with influencers to gain exposure
• Brands increasingly pay influencers

Content Marketing

• Planning, creating, and distributing content to reach a target audience for marketing purposes
• Thought leadership positions an entity as an authority or expert

Types of Content

• Hero: Large-scale content for awareness (once or twice a year)
• Hub: Regular content for engagement (weekly)
• Hygiene/Help: Always-on content answering questions

Customer Acquisition through Social Media

• Sequenced Storytelling: Guide users through a campaign for awareness, consideration, and action
• User-Generated Content: Set up campaigns leveraging content made by users
• Shoppable Content: Enable direct purchases from content or ads
• Social Referrals: Use word-of-mouth for sales
• Influencers: Leverage them for reliability
• Social Selling: Filter and react to purchase signals

Social Media Ads

• Tailored to reach target segments with data shared consciously/unconsciously
• Organic Reach: Unique individuals seeing messages
• Paid Reach: Unique individuals seeing ads
• Viral Reach: Unique individuals seeing messages shared by friends

Paid Media Targeting

• Social/Demographic/Geographic: Target based on factors like age, location, salary or marital status
• Contextual: Tailor banners to fit the content of the webpage
• Behavioral: Target based on prior user clicks
• Audience: Purchase data profiles of pre-defined segments
• Lookalike: Target those similar to the desired visitors

Paid Media/Retargeting

• Target online users based on previous Internet browsing activity
• Use cookies to display ads on other sites

Display Ads/ Banner Placement

• Static Banner: The Paid Static Image
• Animated GIF: mini presentation consisting of three to four images
• HTML 5: Using HTML5
• Rich Media: Can incorporate AR, VR

Display Ads: Prices and KPIs

• CPM (cost per mille): Cost per 1,000 views
• CPC (cost per click): Cost per advertisement click
• CPA(cost per action): Cost per fixed activity
• CPL (cost per lead): Cost per generated lead
• CPS (cost per sale): Cost per generated sale

Email Marketing

• It is an effective, direct channel especially for target groups that generates high conversion rates
• Sales: Recommending Items the User may be interested in buying
• Retention: Extra discounts via email
• Cost Reduction: Saves paper
• Website Visits: Links that take users to the website

Recruiting Email Addresses

• Asking customers to sign up in store, or while making recieving calls
• Website: Ask users who visit your website to sign up for your newsletter
• Advertisement: Run an ad for your newsletter
• Prize/Competition: Offer something of value
• Renting: May ask to recieve newsletters from third parties

Email Marketing Laws

• Marketing e-mails are illegal if they are unsolicited or contain misleading infomration
• Double opt-in: Check box and then confirm registration email
• Confirmed opt-in: No confirmation
• Single opt-in: No registration email sent
• Opt-out: Must uncheck a box
• SPAM: Unsolicited Advertising

Affiliate Marketing

• Advertisers reward partners for sales/leads generated by promoting offers
• Niche Websites: Websites that focus on specific target audience
• Generic Websites: A personal blog can be an affiliate site
• Email Affiliates: People who possess a newsletter and email
• Comparison Sites: Compares Products and Services Cashback Sites: Offers consumers incentives to respond to your ad

UX and Usability

• User experience is the overall satisfaction a user gets with the product
• Digital marketers require a good understanding of UX Design UX Design is linked to: Strategy and research, Web Development, SEO, Content Strategy, Conversion Optimization

Usability Rules

• Refers to page efficiency
• Incorporate Navigation Menus, Logos, Call to action buttons etc

SUPR-Q Tool by Sauro (2016)

• It is a tool intended to measure:
  • Usability
  • Trust
  • Appearance
  • Quality

Promoting Interaction

• Design pages in such that it stimulates a response

Match pages to user queries

• Create landing pages that match what the user came to your website for

Eye-catching action buttons

• Make them eye catching
• Keep in the same screen as call to action

Response Forms

• Create an automated response for to carry out the same task

Design for next steps

• Make it clear what the visitor has to do to move ahead

Response form

• Keep short
• Give respondent an overview
• Limit the numbers
• Enter previous known details automatically
• Ensure active field
• Give clear indication of what has been entered incorrectly
• Allow users flexibility with the format

Landing Pages

• The page the visitor ends up on after clicking on an ad or a link in a email
• Can create seperate landing pages

Effective Landing Pages

• Visitors dont like to scroll/read
• Draw attention to action buttons
• ensure button is noticeable.
• ensure one propisition per landing page
• good headline

SEO

• The optimization of a website so its page can rank up in an organic search engine
• SEA is equivalent to google ads

Keyword research

• A term internet users enter into the search engine
• It is what people are searching for in your subject area

Keyword tools

• Answer the Public

SEO requirements

• Search engines use three broad categories
• Must use good content

On-Page SEO

• Ensure you have what user is looking for

ON-PAGE SEO with Google

• Use synonyms
• Use words that are related

Link Strategies

• Manually Requesting Links
• Competitive link acquisition
• Buying Links

Digital Analytics

• assess progress using marketing tools
• see channels of best engagement

Web Analytics 2.0

• measuring cliks
• experimenting etc

ABC-Model

• Applied per channel to see what delivers the most