Lecture 1 Networked Business Foundations

Flashcards covering key concepts in digital marketing metrics and analytics from the lecture notes.

Digital Marketing Metrics

Core metrics, methods, and best practices for measuring and optimizing digital marketing performance across channels.

Data Mining

A process used by companies to turn raw data into useful information by looking for patterns in large batches of data.

Customer Profiling

Using digital technologies to find out a customer's specific interests and characteristics.

Customer Journey

Describes the 'touchpoints' or different types of media that influence consumers while selecting products and services.

Customer Lifetime Value (CLV)

The net profit contribution of the customer to the firm over time, representing the direct financial value generated through purchases.

Attribution Strategy

A method used to allocate credit for conversions among various touchpoints in a customer journey.

Return on Investment (ROI)

A measure of the profitability of an investment, calculated by dividing the profit from the investment by the cost of the investment.

Conversion Rate

The percentage of visitors to a site who complete a desired action, such as making a purchase.

Social Proof

The influence that the actions and attitudes of others have on individual behavior, often related to brand awareness.

Plan-Do-Check-Act (PDCA)

A continuous improvement framework that involves planning, executing, checking outcomes, and taking action based on results.