Principles of E-Marketing and E-Commerce

What is digital marketing?

the using of digital media, data, and technology to create, communicate and deliver offerings with value to consumers

E-Commerce?

Financial or informational electronically mediated transactions between an organisation and a third party

What are the challenges of digital markeing

- fragmented channels
- competition
- ad saturation
- budget constraints
- ever changing technology

What does a digital marketer do?

Manage customer communities

Create engaging content

create campaigns to attract more customers

Build and nature customer relations

What does RACE stand for?

Reach - grow your audiene using paid, owned and digital media
Act - Prompt interactions to encourage subscribers and leads
Convert - Achieve sales online or offline
Engage - Encourage repeat business and advocacy

What are the 4 modes of thinking?

1. Preacher - convinced you're right

2. Prosecutor - Trying to prove someone wrong

3. Politician - win approval

4. Scientist - favour humility over pride and pick curiosity over conviction. Also look for reasons why you might be wrong

Define Marketing

Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exhanging offerings that have value for customers, clients, partners and society at large.

What is valus

- the worth of a market offering compared to competitor offerings

- the benefits to the customer

- values are based on the customers needs and so can be functional, emotional, social

Give examples of some value drivers for the customers value proposition

1. Brand and Communication
2. Service Portfolio Variety
3. Front Office Staff
4. Channels
5. Price
6. Delivry Processes
7. Experience

How to create superior value?

1. Identify the core customer need
>>> Target a specific customer segement that has that same core need

2. Assess the core benefit of your offering and communicate it to customers in a form of a story that entertains, informs or persuades them

3. Create a Value Proposition - set of benefits or values a brand/community promises to deliver

What makes as good value proposition?

- Focus on the benefits

- Clear

- Ensure benefit is unique and different from competition

What is the positioning statement

The positioning statement conveys the key value proposition and includes the target audience, the primary benefit, and competitive differentiation

Should income:
Who the target market is & what they're needs are, and how you can satisfy that need and why you want to satisfy that need

List the marketing benefits of the interest

- New medium for advertising
- new channel for distributing products
- way to break into a new market
- enhance customer service
- reduce costs by

Give examples of the positing factors that luxury brands promote

- Exclusivity
- Quality
- Legacy
- Personalisation
- Gift Giving
- Sustainability

How does the digital word/technology enhance marketing?

- Better customer selection
- More oppurtunities to engage with customers
- Create communities and brand fans
- Geospatial data enriches experience

What are the advantages of digital?

- Reduction in costs through automation and use of electronic media

- Faster responce to both marketers and the end user

- Increased ability to measure and collect data

- Increaed customization oppurtunities

- Increased interactivity

- Ability to reach a greater audience

What are the disadvantages of Digital?

- Security, privacy issus

- Maintenance costs due to the constatnly evolving environment

- worldwise competition through globalization

Digital Media Chanels?

1. Paid Media
2. Owned Media
3. Earned Media

Paid Media? Give Examples

Company pays to promote messaging

Eg: Google Ads, TV ads, Display Ads

Owned Media? Give Examples

Owned and controlled by the company

Eg: Company instagram, companys website, mobile apps

Earned Media?

Any material about the business that they havent paid for or created themselves

Eg: word of mouth, conversations in social networks and communities

How do companies interact with consumers? - Communication Concepts

- Inbound Marketing
- Permission Marketing
- Content Marketing

Inbound Marketing?

Companies attract customers (who are proactively seeking to meet a need) through engaging content, search and social media marketing

Permission Marketing?

Companies ask customers permission before involving them in marketing activites - usually by providing an incentive

Eg: Company offers a first-buy discount if they sign up to newsletter

Content Marketing?

Creating and distributing value, relevant and engaing content to encourage profitable customer action >> should enable interaction + commenting

Describe the traditional purchase process

1. Awarness
2. Consideration
3. Preference
4. Purchase
5. Loyalty
6. Advocacy

Descrive the modified purchase funnel

1. Awareness
2. Consideration
3. Preference
4. Purchase
5. Trial/Consumption
6. User Experience
7. Repurchse
8. Loyalty
9. Advocacy

Touch Points? Give exampls of digital touchpoints and physical touchpoints.

Touchpoint = a customer contact point, or medium through wich the firm and customer and interact.

Digital Touchpoints: Company website, digital billboard, IM/Chat, Email, Newsletter, Blog, 3rd Party Sites

Physical Touchpoint: Radio/TV/Print, World-of-mouth

What are customer journey maps and why are they helpful?

Customer Journey maps = based on research and data on buyers, buyer personas, customer interview.

Customer journey maps are useful to determine which touchpoints turn peole away and which attract more.

Buyer Persona

Represents your current or prospective customers based on market research and insights gathered through surveys and interviews.

Allows you to craft specifically targeted marketing messages

Customer lifecyle?

Describes the different stages of relationship somehas has with your brand.

RACE.
Reach (stranger/visitor)
Act
(Visitor > lead)
Convert
(lead > customer)
Engag
(customer > repeat customer)

Marketing actions for Reach stage of customer lifecyle?

Goal: Grow Awarness:

Leverage search marketing, social media ads, and intermediaries

Marketing actions for Act stage of customer life cycle?

Goal: Encourage more leads

Have a stong content strategy. Make sure brand value proposition is clearly explained

Marketing actions for the Convert stage of the customer life cycle?

Goal: get consumers to buy

Pricing, promotions, distrubution channels

Marketing actions for the engage stage of the customer life cycle?

Goal: Encourage repeat purchases

Introduce loyalty programs, and reminders. What efforts have you put in for advocacy?

What can be done at each stage of purchase funnel?

Awareness: Display ads, social media campaign, paid search marketing

Consideration: You want to be at your customers touch points - search engine marketing, affiliate marketing.

Preference: Content Marketing! Websites, apps and social media should provide info in a digestible manner

Purchase - Make it easy for the consumer to purchase

Post Purchase (loyalty & advocacy) - continue communication with your existing customers through emails, personalised sales promotions, customer support etc.

Other forces to consider

Suppliers, purchases, intermediaries

Are customer journeys always linear? I.e. follow the customer lifecyle?

No:

Classic journey - customers engage in an extended consideration and evaluation process before entering the loyality loop or proceeding into a new round of consideration - which could lead to the subsequent purchase of a different brand.

What is a digital marketing strategy?

Set of capabilities and initatives that support a companys marketing/business objective

Why do companies need a digital marketing strategy?

Prioritize + integrate resources to create a competitive advantage .

Without a plan - easier to miss oppurtunities.

What are the steps to developing a digital marketing strategy

1. Situation Analysis
2. Goal and objective setting
3. Strategy formulation
4. Resource allocation
5. Monitoring performance

What are the elements of situation analysis in digital marketing strategy?

Review your customers

Review your internal resources

Review your competitors and their strategies

Review wider environment

SWOT Analysis

What is considered in the goal and objective-setting of creating a digital marketing strategy? Give examples

Goal: Intended contribution of the DMS
Examples: sales growth, reducing costs or improving customer relationships

Objective: measureable actions to achive the specific goal. Eg:
Acquistion - get more customers
Conversion - get a potential customer to make a purchase
Retention - develop loyalty and incrase repeat-selling or cross-selling

What are SMART objectives

Specific
Measurable
Actionable
Relevant
Time-relevant

What should be considered in the strategy formulation stage ?

The set of tools that the firm will use to deliver customer value and engage customers in target market:
1. Product
2. Price
3. Place
4. Promotion
5. People
6. Process
7. Physical evidene

These tools will be used to consider:
- market/product strategy
- business and revenue model strategy
- target market strategy
- position and differnitation
- customer engagement strategy
- multichannel distribution + communications strategy

What is the freemium model?

Users get basic features for free and can access richer functionality for a subscription fee

Expalin the compromise effect

Free >>Existing Premium >>> NEW HIGHER QUALITY ALTERNATIVE

Adding a new option makes the original option more attractive. Demand shifts from free to existing premium

Attraction Effect

the new alternative is lower quality than existing premium - but the price difference is not huge.

Demand shifts from Free to Exisiting premium

What are the benefits of freemium

Low barrier to entry for potential customers ->> great oppurtunity to increase awareness

Can analyse how these free users use your free product

What are the challenges of freemium?

Deciding what features should be free

Ensuring there is a cear distinction and value for the premium product

Challenging to convert users to premium product

Customer churn rate

Ongoing innovation needed

How to add value for existing premium customers

What areas should firms focus on in marketing research?

1. Target Audience Research

2. Product/Service
- product/concept testing
- usability testing

3. Brand Research

4. Campaign effectiveness

Why is talking to customers important?

- Non-expert customers can have surprising, unexpected perceptions

- customer perceptions ultimately determine what product they choose

- Expert perceptions cannot substitute for customer perceptions

- Helps choose intanglible features - like name, benefit descriptions etc.

What are the 3 types of types of research? Give examples`

1. Primary
- customer listening, surveys, customer interviews,focus groups, customer obseratations, mystery shoppers

2. Secondary
- google trends report customer search, industry-specifc data

3. Community Particiaption
- build relationships, intereact to test ideas

Pros & Cons of Online Surveys

Pros:
- Flexibility
- Speed
- Timeliness
- Ease of data entry

Cons:
- Email surveys easily ignored
- limited sample
- low responce rates

What is SEM?

Search Engine Marketing= Promoting an organisation through search engines by delivering relevant content in search listings for searchers and encouraging them to click through to the destination site.

What is SEO?

SEO = Search Engine Optimisation:

A structured approach used to increase the position of a company or its products in organic search engine results listings for selected keywords
>>> drives visitors to your website
>>> SEO entails making small modifications to your website to improve presence on the web.
>>> goal is to higher in organic search results

Crawling and Indexing?

Crawling = how search engines discover available content for indexing on the internet.

The links found are then stored in an index = a large database of all content.

When a person types in a query - search engines retrieve relavant content and orders the content by; relevancy to search
content quality
frequency of keywords
number of other sites linked to the page

Keywords?

Words or phases that get typed into a search engine.

Important to understand what keywords people are using to find your content & you want to target those words in your websits content through:
Domain name
Website title
URL
Headings
Body text
captions and title for images
files names

Different types of search query intent

Transaction Intent
Commerical Intent
Navigational Intent
Informational Intent

SEO Stategies

1. The long-tail approach (gradual improving of rankings on related keywords)

2. Season content - keywords around different holidays, event, seasons

3. Geography - different regions may have different keywords that allow your website to rank better

4. The Skyscraper Technique (invite people to backlist your page by ensuring your content is better and then reaching out)

Internal Links

links that connect internal pages of the same domain

What does EAT stand for?

Expertise - being knowledgable / skillfull in particular area

Authority - reputation / others acknowledge your expertise

Trustworthiness - legitimacy + accuracy of content

Backlinks / Inbound Links?

Links from other websites that lead to your website?

Increase backlists = increase your ranking (sign of EAT)

What factors contribute to a webpages rank in the index?

Clicks
Time spent on page
Pogo-sticking (clicking on organic search and then immediatley clicking out)
Wording on descriptions: anchor texts, meta descriptions, length + relevance, url length

How to improve SEO

1. use effective keywords
2. create useful and user-orientated content
3. Have links/get backlisted
4. Check interlinking strategy
5. A/B test your headlines - revise content periodically
6. Monitor how your content posts lead to outcomes
7. Study both top-ranking and low-ranking competitors and imitate what works

SERP

Search Engine Results Page

Mozlows Hierarcy of SEO Needs

1. Snippet/Scheme markup
2. Title, URL & Description
3. Share-worthy content that earns links
4. Greater User experience
5. Keywords optimised
6. Compelling content
7. Crawl accessibility

Pros and Cons of SEO

Pros:
- Significant traffic driver
- improved web presence
- highly targeted - can reach those who are more intered in you

Cons:
- unpredictable
- SEO takes time for new sites
- Aggressive competition

What are the two main techniques for digital ads?

1. Search ads - pay per click
2. Display ads

What are the key kpis for digital ads

1. Click-Through-Rate = Click/Impressions

2. Converstion Rates = Conversions/Clicks

What are search ads

PPC - a relevant text ad with a link to a company page that is displayed on the SERPs when the user of search engine types in a particular phrase.

A fee is charged for every click of each link - with the bid amount per click determining its position

How do search ads work?

Paid search ads re sold by auction

Auction occurs each time a user submits a query.

Factors that matter:
Your bid - the maximum amount you're willing to pay (Max Cost Per Click)
Your relevance - determined by your quality score

AD Rank = Max CPC x Quality Score

Actual Cost Per Click = AD Rank/Quality Score

Quality Score?

Score that show relevance of a company >>>> based on landing page experience, expected click through rates, relevance of keywords etc.

Compare Paid Search to SEO?

Paid Search = based on bid therefore have more control over ranking

Paid search = immediate results, SEO takes time + effort

SEO = not costly, Paid Search can be.

Paid Search can complement SEO efforts

Advantages of PPC

Less waste - no cost until clicked

Highly targeted

Faster Results than SEO

Predictable Traffic

Technically easier than SEO

branding effects - even without clicks

Disadvantages of PPC

- Competitve and expensive if not done effectivley
- requires specialist knowledge

What are display ads?

Images, videos, or gifs used on apps/website to show a brand

Adveritsers have a product/service they want to promote... publihers own websites and have the space + are ready to display ads to their audience

How are display ads sold

Direct buying by publishers

Real-time bidding throuhgh an ad exchane

RTB?

Real Time Bidding through an ad exchange for display ads.

Occurs in milliseconds before a website loads - automated auctions

CPM?

Cost per mile / = Cost per thousand impressions - used to price display adertsining

Advantages of Display ads?

- Reach to drive awareness
- allow for various targeting options
- great way for retargeting (reminder ads)
- allows smaller businesses to create ad campaigns
- can create halo effect - where exposure to display ad may increase CTR when customer is exposed to other media

CTR?

Click through rate = no. clicks/no. times ad is shown

Disadvantages of display ads?

- relatively low CTR due to banner blindness
- brand reputation can be damaged if ad gets misplaced in content that is innapropriate
- relatively high cost for low efficiency
- managing technology complexity

What is Content Marketing? Goals?

Management of text, rich media, audio and video content aimed at engaging customers to meet business goals.

Modern day content enables interation, sharing, reviewing and rating

Goals -
Entertain
Educate
Inspire
Convince (Promote)

Goals of content marketing?

Detriments:
Awareness - Purchase
Emotional - Rational

>>> Goals:
Entertainment
Educate
Inspire
Convince

Social Media?

Platform that allows users to interact with each other and share opinons and content.

Social Media Marketing ?

Using the tools + platform of social media to engage your customrs and to become a trusted participant in an ongoing conversation

Advantages of Social Media Marketing

1. Build awareness, generate leads + foster customer relationships

2. Social media marketing = fun + interactive

3. Social media marketing = under consumrs control - they chose their level of involvement

4. allows a large reach with amplifcation

5. Relatively inexpensive

Disadvantages with Social Media Marketing

1. Saturated

2. Limited exposure to people on social media

3. Being popular is not the same as being profitable - awareness only

4. Changes quickly

5. Somewhat unpredictable

6. Positive + negtaitve setiment can spread quickly

7. People are there to interact with friends and other people with shared interests - not be bombarded with ads.

8. Social media ROI hard to establish

What makes good social media content ?

- Focus

- Grab attention (unexpected)

- Engage

- Take action

What does EFTO refer to in encouraging customers to take action?

Easy - should simple for customers to act

Fun

Tailored

Open - no permission needed

Strategty vs Tactic?

Strategy = overaching goal/mission

Tactics = smaller goals that contribute to the strategy

Types of influencers

Mega/Celebrity
Macro Influencers
Micro Influencers
Nano Influencers

What is influencer marking?

The use of influencers to amplify content + reach

What to consider when choosing influencers?

1. Reach
2. Recognition
3. Reference
4. Relevane
5. Resonance

Marketing automation?

Automate marketing communication tasks, allowing personalised content and messaging to be delivered to target consumes that have been analysed by their profiles and interactions with the brand

Inbound marketing?

Companies aim to build relationships with those customers who visited a webiste and expressed interest

Lead?

People who are potentially interest in buying your product

Recall the customer lifecyle

Strangers
Visitors
Leads
Customers
Repeat Customers

RACE - reach, act, convert, engage

Give examaples of how to convert visitors into leads

Possible items to give in exchange for personal information (contact information), such as:
Training Video Series
Free Trail
Coupon
Webinars
eBooks
White Papers
Educational Material