Summary Digital Marketing & Analytics

DMA

Week1: Introduction: Digital Marketing, Metrics

Article 1.1: Leeflang P.S.H, Verhoef P.C., Dahlström P. and Freundt T. (2014), Challenges and Solutions for Marketing in Digital Era, European Management Journal, (32), 1‐12[pic 1]

The three (four) potential challenges that are most important for digital marketers:

• Ability to generate and leverage deep customer insight                                (2)
• Managing brand health and reputation in a social media environment                         (4)
• Assessing the effectiveness of digital marketing                                        (8)
• (The increasing talent gap in analytical capabilities within a firm)                        (9)

The biggest improvement opportunities of dealing with these challenges of digital are:

• Filling talent gaps (supply and demand of analytically trained people in marketing)         (9)
• Adjusting the organizational design                                                        (10)
• Implementing actionable metrics                                                        (8)

Article 1.2: Edelman D. and Salsberg B. (2010), Beyond Paid Media: Marketing’s New Vocabulary, McKinsey Quarterly, (November)[pic 2]

The five media forms are evolving in four primary ways:

1. Different kind of media are becoming more integrated
2. New publishing models are emerging (cooperations with media providers) due to complexity of consumer needs and the inability of marketers to address them
3. Marketing experiences are becoming more personally relevant
4. Consumers are engaging more often in real-time conversations, they may express themselves

Four priorities for marketing in organizations:

1. Think strategically about the role of each media type
2. Rebalance time and resources
3. Develop a clear community or social-networking strategy
4. Improve both the art and science of marketing

Lecture

Scope of Digital Marketing:

• APPLYING Digital technologies forming online channels (Web, e-mail, databases, mobile)
• TO Contribute to marketing activities aimed at achieving profitable acquisition and retention of customers
• THROUGH Improving customer knowledge, delivering integrated targeted communications and online services matching their individual needs

Benefits of digital marketing: 5 S’s:

• Sell: grow sales
• Serve: add value
• Speak: get closer to customers
• Save: save costs
• Sizzle: extend the brand online

Digital vs Traditional Marketing

• Lower cost

• Targeted (even personalized)

• Real-time (results, monitoring and adjustments)

• Product information

• Less intrusive (push vs. pull)

• Interaction

• Measurability

Companies store different types of data:

• Touchpoint data
• Session data
• Personal-communications data

KPI’s – RACE                                                THE Conversion Funnel

[pic 3][pic 4]