DM FINALS PDF

Week 1: Introduction Examples of digital marketing - Virtual replacement technology - Digital billboard - (Collecting) email addresses Key things for marketing campaign to succeed 1. Messaging: the advertising message needs to appeal to someone 2. Audience: the audience receiving the...

Week 1: Introduction Examples of digital marketing - Virtual replacement technology - Digital billboard - (Collecting) email addresses Key things for marketing campaign to succeed 1. Messaging: the advertising message needs to appeal to someone 2. Audience: the audience receiving the advertisement message needs to find the message relevant and the audience size needs to be sufficiently large 3. Location: the audience that finds the message relevant must be exposed to the message at the right location. -> choose the right media channel, timing and geography targeting Example: 1. Messaging: competitor comparison and shaming 2. Audience: millennials 3. Location: facebook/instagram, financial review podcast - Why facebook/instagram? Look at the user demographics. Find out which financial podcast is the most popular Inbound and Outbound - Inbound (pull) strategy: attract leads by providing content that is helpful for them and will organically lead to engagement Aims to draw customers to products services via content marketing - Outbound (push) strategy: show content to as many users as possible to increase chances of reaching an interested audience Reach out to potential customers through traditional and digital channels Digital marketing terminology - Owned: media that you create and have control over (website, mobile site, blogs, shared content) - Paid: paying to drive traffic, conversion, and lead creation to owned media properties (social media adverts, display ads, paid search, paid influencers) - Earned: free publicity generated by consumers, PR, and influencers who speak about your brand/product (shares, reviews, mentions, reposts) Marketing Funnel Describes a customers journey from becoming aware of your brand through conversion 1. Awareness stage (TOP): through blog posts, email newsletter, how-to video, educational webinar, slideshow, educational podcast 2. Evaluation stage (MIDDLE): customer testimonials, case study, free sample, demo video, FAQ page  3. Purchase stage (BOTTOM): free consultation, pricing page, live demo, free trial, coupon Social Proof “Sign up now! Our database has 12000 members and is growing!” Call to actions (CTAs) An image or text that entices a person to perform some type of behavior. The goal is usually to drive someone to a landing page. Landing pages A single web page that appears in response to clicking on a search engine optimized search result or an online advertisement Search vs experience goods and the internet - Search goods: quality can be assessed before purchase - Experience goods: quality cannot be assessed without purchase  Week 2: Content marketing 1: psychology of engagement (Viral marketing) Viral marketing Phenomenon where people share and spread marketing-relevant information that was initially sent out intentionally by marketers to start word-of-mouth - Advantage: familiar senders have a higher credibility for the recipient - Key engagement metric: number of shares - Key success factors: awareness (brand/product/event) and earned media (media mentions, dupes, etc.) Reason to share 1. Motivate: every decision guiding the development of an online campaign should be based on motivating consumers’ reasons to share This could involve creating engaging, relatable, or valuable content that aligns with what your audience finds shareable. The goal is to evoke emotions or provide incentives that compel them to share your content with others. 2. Eliminate: identify and minimize any factors that might deter consumers from sharing. This could include issues like unclear messaging, excessive complexity, lack of relatability, or perceived low value. By addressing these barriers, you increase the likelihood of consumers feeling comfortable sharing your content. 3. Evaluate: evaluate the strengths of various motivations for sharing and determine which ones will resonate most with your target audience. This means analyzing both the intensity of the motive (how strongly it drives sharing) and the size of the audience that feels that way. Selecting a strong, widely felt motive ensures that your campaign has the best chance of encouraging sharing. Self Enhancement A fundamental motive to increase the positivity of one’s self views - Driven by a desire to attain or maintain self-esteem - Motives and guides people toward situations in which they believe they will excel or situations in which they can promote their positive qualities How it affects sharing: - Approval cues: a tendency for people to seek approval from others from information shared - Membership cues: a tendency for people to share information with other to legitimize their group membership This act of sharing helps solidify their identity within that group and signals to others that they are a part of it. - Impression management: a tendency for people to share information with others to signal something about a meaningful trait Emotions The psychology of sharing: emotion -> arousal -> sharing Emotion (-10 - 10) - -10: anger, frustration hate - 0: contentment, shame, guilt - 10: ecstasy, excitement, amazement Types of arousal 1. Cognitive arousal: intellectual, mental stimulation, driven by curiosity and interest 2. Affective arousal: activated by affect, results in an emotional response 3. Physical arousal: biological reactions. Deeply programmed responses without cognitive intervention Affinity Interest and behaviors of the audience that indicates a strong preference/liking for specific types of content/products/services. - It manifests itself as a feeling of warmth, respect, or deep appreciation for an activity, idea or subject. Affinity is different from emotions Affinity vs emotions Emotion is short term, comes and goes quickly. Affinity is a long term quality of feeling. A passion that somebody has for something that radiates from the heart. It has greater importance for the prediction of viral content than emotion.  Week 3: Content Marketing 2: Development, Deployment and Seeding Content Formats Examples: White papers, ebooks, infographics, blogs, interactive content, videos, articles, images & carousels, webinars, podcasts, app and games Two ways marketing works - Sales activation: short term sales uplifts - Brand building: long term sales growth Brand building vs brand activation Brand building Sales activation Creates mental brand equity Exploits mental brand equity Influencers future sales Generates sales now Broad reach Tightly targeted Long term Short term Emotional priming Persuasive messages Importance of content marketing strategy - Awareness: begin with awareness content for the top of the funnel to get the word out there - Interest: create consideration content for the middle parts of the funnel when people are assessing options in the market - Consideration: produce high-impact conversion content for the end of the funnel. This drives people to take action - Conversion: create retention content for past purchasers to turn them into repeat purchases or even brand advocates - Retention: create re-engagement content for people who’ve dropped out at different stages of the consumer journey to entice them back Note: Awareness: brand building, Others: sales activation Types of contents - Awareness: - Blog posts and articles explaining industry trends or common problems. - Infographics and videos that educate or entertain. - Social media posts that introduce the brand or share relevant, engaging content. - E-books, guides, and how-tos that address a general audience's questions. - Consideration:  - Case Studies: Demonstrates real-world examples of how your product or service solved a problem for a customer. - Product Comparisons: Offers side-by-side comparisons of different products or services, helping users see the advantages of your offering. - Testimonials and Reviews: Shares feedback from existing customers to build trust and showcase positive outcomes. - Conversion: - Product Pages: Detailed descriptions of your offerings, emphasizing features, benefits, and value propositions, with clear CTAs like "Add to Cart" or "Buy Now." - Free Trials or Demos: Offers of limited access to your product or service to allow prospects to experience its value before committing. - Special Offers or Discounts: Promotions that encourage prospects to purchase, such as discounts, limited-time offers, or bundled deals. - Landing Pages: Dedicated web pages focused on driving a single action, such as downloading an e-book, signing up for a webinar, or making a purchase. - Retention: - Email Newsletters: Regular updates with tips, product usage guides, new features, and personalized recommendations to keep customers engaged. - Product Updates and Feature Announcements: Inform customers about new features, updates, or enhancements to help them get more value from the product. - Customer Loyalty Programs: Offer rewards, discounts, or special perks for loyal customers to encourage repeat purchases and brand advocacy. - Feedback Requests and Surveys: Engage customers by asking for their feedback and showing that their opinions matter, while also gathering insights for further improvements. - Reengagement: - Personalized Recommendations: Suggest products or content based on the user’s previous behavior or purchases, encouraging them to re engage with tailored offerings. - "We Miss You" Campaigns: Emails or ads with messaging that conveys a sense of being missed, paired with an incentive to return (e.g., “We miss you! Here's a 20% discount to welcome you back.”). - Cart Abandonment Emails: For e-commerce, this type of email reminds users of items left in their shopping cart and encourages them to complete the purchase. 6 biases influence purchase decisions 1. Category heuristics - key product specs that simplify decisions 2. Power of now - the longer you wait, the weaker the proposition becomes 3. Social proof - the power of others’ recommendations 4. Scarcity bias - as availability decreases, desire increases  5. Authority bias - trust and expertise can sway decision 6. Power of free - a free, even unrelated, gift with a purchase is a motivator Category heuristics Shortcuts or rules of thumb that people use to simplify decision making - Shifts focus to the dominant factors when decision making Power of now People tend to want things now rather than later. Humans are wired to live in the present, our evolutionary survival hinged on our ability to deal with the problems of the here and now rather than our ability to plan for the future. Social proof Showing evidence that other shoppers have had a positive experience with your brand reduces perceived purchase risk and increases trust - Reviews and comments Scarcity bias 1. Time limited: when there is a time limit to product’s availability, it creates a deadline that makes people act before the time is up 2. Quantity limited: limited or rare supplies are perceived by people as a threat to their freedom of choice, triggering a reaction to fight the threat and maintain their access to the resource 3. Access limited: limited access to features like information, groups or spaces. Censorship makes people place a higher value on restricted features because exclusivity makes them feel special. Authority bias A tendency to alter opinions or behaviors to match those of someone we consider to be an authority on a subject - When people are unsure, they tend to follow credible and knowledgeable experts - Herding effect: following what everyone’s doing Power of free Demand for a product or service is significantly greater a t a price of exactly zero compared to a price even slightly greater than zero Anchoring heuristics E.g. Price Negotiation: If a product is initially offered at a high price, customers are more likely to perceive a discounted price as a good deal, even if the discounted price is still relatively high. Price decoys heuristics E.g. Popcorn Pricing at a Movie Theater: Small popcorn: $5 Medium popcorn (decoy): $9 Large popcorn: $10 In this scenario, the medium popcorn seems overpriced relative to the large popcorn, which is only $1 more. As a result, customers are more likely to choose the large option, which seems like a better deal, even if they originally intended to purchase the small option. Value perception heuristics consumers’ perception of a product's or service’s value is influenced by external cues or contextual factors, e.g. Higher prices can often lead consumers to perceive a product as higher quality or more valuable, even if the difference is minimal. Best practice for creative 1. Vertical video Advantages: - natural orientation for mobile devices (most people hold their phones upright while watching) - Works better for social media (audience can stop scrolling, press play and watch video with ease without turning their phone) - Greater completion rate (users watch more footage on average when vertical) 2. Design for sound off People choose to watch videos with the sound off such as in public places - Include overlays, typographic treatments and graphics to tell the most important parts of the content - Use logos and branded product shots creatively 3. Capture attention using short edits People consume content on mobile faster than on desktop. Moving images are more eye catching 4. Keep text short and sharp Ads with text taking up less than 20% of the ad perform better. Keep it clear and concise 5. Design for different placement Ad platforms have various placements, such as in-feed or stories. Each placement has different aspect ratios that you should design to.’ Influencer marketing Influencers are people with relatively high followings on social media, and have some influence over people’s preferences. - Use endorsements and product mentions from influencers 3Rs 1. Reach - how big is their following? 2. Relevance - how closely aligned to your brand are they and their followers 3. Resonance - how engaged is their audience Types of influencers 1. Mega - well known celebrities with followers > 1M However, they may lack a real connection with their followers. They are also expensive 2. Macro - have a following of 100,000-1M Obtained their fame from the internet and mostly worked with an expensive agent. Rates may vary 3. Mid tier - 25000-100000 followers Usually known for being topic or industry experts. Effective in term of getting loyal followers is their trust factor 4. Micro - 10lk-20k followers Critical to match the influencer with your brand correctly because of low follower count 5. Nano -