Marketing lecture 10

Awareness

Making consumers aware that the offering exists.

Interest

Stimulating interest in the offering

Desire

Creating or strengthening customer’s preference by enhancing the offering’s attractiveness

Action

Triggering purchasing or other actions.

Examples of inbound media

Online search, personal interaction, interactive forums.

Examples of outbound media

Advertising, public relations, social media, personal selling.

Advertising elasticity

Percentage increase in sales or market share for a 1% increase in advertising.

Gross rating points

Measure of advertising volume

Change in GRP = denominator in the elasticity calculation

Getting a high ranking through google ads

* Bid amount
* Ad quality
* Context

Customer journey

First-click attribution

* Assigns 100% of the credit for a sale to the first channel that a user clicked through.


* Ex. All money to instagram

Last-click attribution

* Assigns 100% of the credit for a sale to the last channel that a user clicked through.
* Ex. All money to google ads

Ad quality

* Expected click-through rate
* Landing page experience
* Relevance

Context

* Search terms, location and time of search, device.

Mere-measurement effect

When asked to provide purchase intentions, consumers are more likely to choose brands for which they hold positive and accessible attitudes compared to a control group of consumers who are not asked an intentions question.

Social influence

Ability of one consumer to directly influence another consumer's decision based upon their communication.

Reach

Unique users

Frequency

Times visited/seen

Impressions

Reach x Frequency

\
(can be for a page or ad)

Click-through rate

Page visit/Impression

Conversion rate

Purchase/Page visit

Visit duration

Time spent on site

Exit rate

Percentage of times a given page was the last page viewed

Google ads

* Company pays to appear in advertised position in search results
* Advertiser sets bid/budget, keywords, ad text
* Whether the ad appears or not depends on the ad rank by Google
* Clicks on the ad affected by ad text

Digital analytics

* Company can look at reach and impressions of ads to assess awareness-related effects
* Costs and returns shaped by click-through rates and conversions
* To better design search campaigns: look at click-through rates, bounce rates, conversion rates.

Bounce rate

Percentage of times a given page was the only page viewed