Exam #1

What is marketing?

The promotions and sales of products or services through advertising, market research, and public relations. It involves identifying customer needs, creating value, and building customer relationships to satisfy those needs. Marketing aims to attract, retain, and satisfy customers while achieving organizational goals.

What can we market?

• goods

• services

• experiences

• events

• people

• places

• information

• ideas

• companies

What is the evolution of Modern Marketing?

1. product/production orientation

2. sales orientation

3. customer orientation

What does URL stand for? What is it?

Uniform Resource Locator. It is the address used to locate a resource, such as a webpage or a file, on the internet

What is a domain name?

A domain name is the unique address of a website on the internet. It allows users to access a specific website by typing it into a web browser. A domain name consists of the name (e.g., google) and the extension (e.g., .com).

What is an IP Address?

An IP address is a unique label assigned to each device on a computer network that uses the Internet Protocol. It has two main purposes: identifying the device and providing its location in the network. IP addresses are vital for internet communication and data exchange.

What is a server in Marketing

A server is a computer that stores and manages data, files, or applications, and provides them over a network. In marketing, a server hosts websites, email services, databases, or other marketing-related applications, allowing for storage, processing, and delivery of marketing content and data to users or clients.

What is a Cookie?

A small text file stored on a user's device when visiting a website. It holds information about the user's browsing activity on that site, including preferences and personalized experiences. Cookies can store data like login credentials, shopping cart items, and language preferences. Websites use them to improve functionality and user experience.

What is server side programming language?

A server-side programming language manages the server-side logic of a website or web application. It processes requests, accesses databases, and generates dynamic content for the client-side. Examples include PHP, Python, Ruby, and Java.

What is the client side programming language

The client-side programming language is JavaScript. It is used to create interactive elements and dynamic content on web pages.

What is a web browser

A web browser is a software that lets users access and view websites on the internet. It interprets HTML code, retrieves web pages, and displays them. Popular browsers include Chrome, Firefox, and Edge.

What is transport layer security (TLS)

TLS is a cryptographic protocol that secures communication over a network. It encrypts data between applications, ensuring privacy and data integrity. TLS is used for secure web browsing, email communication, and other network protocols. It authenticates the server and client, establishing a secure connection and preventing unauthorized access or tampering.

What is webhosting

Web hosting is a service that provides storage space and access for websites on internet-connected servers. It allows individuals and organizations to make their websites accessible to others on the web. Web hosting providers offer different plans and features to suit various website needs.

What are some primary objectives of a website?

• earn money through sales

• Subscriptions

• Comossoion

• Advertising

• Provide info to help generate sales

• support a crome

• provide customer support

What does AIDA stand for?

• Awareness

• Interest

• Desire

• Action

How can you analyze success of a website?

• Traffic

• Conversions

• Revenue Per Conversions

What kinds of traffic can be used to analyze success of a website?

• direct traffic

• referral traffic (paid and unpaid)

• Search traffic (paid and unpaid)

What kinds of conversions can be used to analyze the success of a website?

• purchase

• lead

• booking

• engagement

• account creation

• click-through

• posting item for sale/making a purchase

What are some examples of direct traffic?

• offline ads or habit

• bookmarked pages

• email marketing

• mobile apps

What are some examples of Paid Referral Traffic?

• banner ads

• video ads

• social media ads

• affiliates

• paid influencers

What are some examples of unpaid referral traffic?

• email

• social media

• backlinks

  • homepage

  • product pages

How does search traffic work?

Search traffic is the visitors who come to a website from search engine results. When a user searches, the search engine ranks relevant web pages and displays a list of results. Clicking on a result generates search traffic to that website. Factors like content relevance, quality, website authority, and user intent determine search result rankings.

What is a conversion?

a target action you want your visitors to take

What are the web design frameworks?

• design for usability

• conversion-centered design

• three questions

• segments

• mobile first

• conversion rate optimization

What are some key points on the design for usability framework?

• conventions

• visual hierarchies

• clearly defined areas

• what’s clickable

• eliminate distractions

• support scanning

What are some key points on the conversion-centered design framework?

• attention

• context

• clarity

• congruence

• credibility

• closing

• continuance

What are the 3 questions outlined by the frameworks?

• what are you offering?

• why should I pick you?

• what do you want to do next?

What are some keypoints on the segments framework?

• conversion, or the next step in the conversion process, should appeal to a variety of customers

• segmentation can have many dimensions

  • Search vs. category navigation

  • Browse vs directed shopping

  • product category

  • new vs. returning customer

  • preference for online vs. in-store shopping

What are the key points of the mobile first framework?

• design for smaller screens first

  • helps to convey the information with less frustration

  • opposite is not true

• add features and content for larger screens

  • progressive enhancement

  • responsive web design

What are the Keypoints of Conversion Rate Optimization (CRO) framework?

• A/B testing

  • looks at both designs and collects data to select the better design with better conversion rates

What are some web page elements?

• images (enables scanning and professional photos increase credibility)

• Videos

  • more info in a shorter amount of time and less affordable

  • Professional videos increase credibility

  • useful for mobile users

• Forms

  • remove unnecessary fields

  • Call to action that incentives

  • form and submission

• Phone Numbers

  • feature prominently (above the fold)

  • tracking (lead generation through website visits

Types of landing pages

• single product

• multi product

• multi category

• lead generation

• subscription

• single purpose

How do Analytics work

• collects information every time the page is requested

• Supplemental information

  • identity of requester

  • timing of the request

  • navigation source

  • technical info

  • geography

• Summarizing Data

  • dependent on what the company wants to focus on

    • differences between device uses

    • behavioral insights

  • Marketing analytics requires an understanding of different metrics

• Summarizing data

  • dependent on company wants us to focus on

• Metrics

  • Analysis Paralysis

  • Actionable insights

    • Performance dimensions: Traffic, Conversion, Revenue Per Conversion

  • Three types of metrics

    • basic metrics- Built-in

    • calculated metrics - may need to be calculated

    • manual metrics- goal orientated

What are the basic metrics?

• users

• new users

• sessions

• pageviews (hits)

• time on page

• entry

• exit

What are users

the number of individuals who accessed the website during the period

What are new users?

website traffic from new potential buyers or repeat sessions from previous users

What are sessions?

Number of individual sessions initiated by all the users to your site (period of time where a user interacts with your website or app

What are pageviews (hits)?

number of views on a website

What is the time on page metric?

how long the user stayed on the page

What is the entry metric?

the first page view is the entry point

Can be different from the homepage

What is the Exit metric?

either closed the website or was inactive for more than 30 minutes

What are the calculated metrics?

• average page depth

• average session duration

• bounce rate

• entrance rate

• exit rate

  • unique page views

What is average page depth?

the number of pages on your web site that a visitor views during a single browser session

Average session duration

the sum of time on the page for every page view in the session (inactivity of 30 minutes is subtracted)

Bounce Rate

% of all sessions that consist of only one page view

Entrance Rate

% of sessions that start on that page

Exit Rate

% of page views that result in an exit

Unique page views

removing double counts give more accurate estimate about volume

What are the manual metrics?

• destination

• duration

• pages/screens per session

• event

Destination

A specific location loads

What is an example of the destination metric?

“Thank you for registering!” webpage or app screen

Duration

sessions that lasts a specific amount of time or longer

What is an example of the duration metric?

10 minutes or longer spent on a support site

Pages/Screens per session

user views a specific number of pages or screens

Example of Pages/Screens per session metrics?

5 pages or screens have been loaded

Event Metric

an action defined as an event is triggered

Example of Event Metric

Social recommendation, video play, ad click

What are the main types of KPIs

• Retail KPIS

• Lead Generation KPIS

• Media KPIS

• Social Media KPIS

• Search Engine KPIS

What is the goal of Retail KPI’s?

to sell products

What are some types of Retail KPI’s

• traffic - sessions

• conversion

  • conversion rate= purchase conversions/ sessions

  • A/B testing

• Revenue

  • revenue per purchase

  • revenue per session

What is the goal of lead generation KPI’s?

generate more leads

What are the types of Lead Generation KPI’s?

• traffic: Users (esp. unique)

• Conversion

  • Conversion rate

  • Close rate: % of leads that convert into revenue

  • Close deal value

    • Both external to the Website

• Revenue

  • Revenue Per Session: Conversion Rate*Close Rate*Closed Deal Value

    • If conversion rate is 15%, the close rate is 25%, and the close deal value is $200 then the revenue per session is $7.50

What is the goal of Social Media KPIs?

Engagement

What are the types of Social Media KPI’s

• conversion

  • new acct. sign ups

  • user-generated content (active v. passive users)

  • Engagement (likes or reposts)

  • avg time on the site

What is the goal of Search Engine KPIs?

Generate user exit

What are the types of Search Engine KPI’s

• traffic

  • searches

• Conversion

  • Converstion Rate - Search engines for hotels, flights, rental cars

  • Pages per session (Page Depth)

    • Want to Minimize this

What could be some causes of poor conversion rate?

• poor messaging

• poor audience selection

• technical glitches

How can you use Channel Analysis to make better decisions?

• Different traffic sources: When are they profitable?

  • organic search

  • paid search

  • display ads

  • emails

  • social media posts and ads

  • referrals

  • affiliate links

Organic Search

break down traffic by search terms

paid search

run multiple ads and track site behavior by ad

display ads

content, call to action, targeting method and websites

emails

which emails and which part of the email

social media posts and ads

• content created by the company

• content created by or shared by social media users

• advertising on social media

Referrals

external links from other sites and partnering with similar sites

Affiliate links

optimize traffic and use insights given by partnering website

How can you use segmentation to make better decisions

• browser (behavioral and technical reasons)

• screen size

• device (optimized behaviorally. Responsive design)

• geography

• timing (seasonality or time of day)

How can you use the conversion funnel to make better decisions?

Define the steps in the conversion, then look at those steps and define the biggest fallout points

What are the attribution methods?

• last-click attribution

• first-click attribution

• linear attribution

• time-decay attribution

  None are accurate but they are reasonable

What are some attribution tools?

• google analytics (sensitivity analysis for different attribution methods)

• Data-driven attribution

  • algorithms to calculate returns through counterfactual comparisons

  • requires large quantity of data

  • Still cannot account for offline activities or activities on different platforms

• Controlled experiment (Most Reliable)

What is the conversion rate, utilizing the following information?

Rates and Availability: 2,347,892

Review Itinerary: 367,495

Guest Info: 103,471

Confirmation: 72,498

Revenue: $23,464,220

Room Nights: 143,285

72,498/2,437,892 = 0.029 or 2.9%

What is the micro-conversion rate using the following information?

Rates and Availability: 2,347,892

Review Itinerary: 367,495

Guest Info: 103,471

Confirmation: 72,498

Revenue: $23,464,220

Room Nights: 143,285

Rates & Availability → Review Itinerary

367,495/2,347,892 = 0.1565 or 15.7%

Review Itinerary → Guest Info

103,471/367,495 = 0.2815 or 28.2%

Guest Info →Confirmation

72,498/103,471 = 0.7006 or 70.1%

What is the average revenue per booking using the following information?

Rates & Availability: 2,347,892

Review Itinerary: 367,495

Guest Info: 103,471

Confirmations: 72,498

Revenue: $23,464,220

Room Nights: 143,285

$23,464,220/72,498 = $323.65

What is the average revenue per night using the following information?

Rates & Availability: 2,347,892

Review Itinerary: 367,495

Guest Info: 103,471

Confirmations: 72,498

Revenue: $23,464,220

Room Nights: 143,285

23,464,220/143,285 = $163.75

What is the average nights per booking using the following information?

Rates & Availability: 2,347,892

Review Itinerary: 367,495

Guest Info: 103,471

Confirmations: 72,498

Revenue: $23,464,220

Room Nights: 143,285

143,285/72,498 = 1.97

If you could increase the percentage of people who arrive at the review itinerary step to 20%, what would the conversion be? How would revenue be affected?

Rates & Availability x .20 = 469,578.4

Review Itinerary x .281 = 131,951.53

Guest Info x .701 = 92,498

92,498/2,347,892 = 0.03939619 or 4% ← Conversion Rate

323.65 × 92,498 = 29,936,977.70 ← Revenue

Using the following information, what is the conversion rate for a lead generation rate?

Visits: 722

Leads: 65

Customers: 28

AVG contract value: $550

65/722 = 0.0900277 or 9%

Leads/Visits= conversion rate

Booking websites focuses on leads NOT customers

According to the following information, what is the close rate?

Visits: 722

Leads: 65

Customers: 28

AVG contract value: $550

28/65= 0.43076923 or 43.08%

Customers/leads = close rate

According to the following information, what is the revenue per visitor?

Visits: 722

Leads: 65

Customers: 28

AVG contract value: $550

(AVG Revenue x Customers)/ Visitors

(550 × 28)/722 = 15400/722 = 21.3296399 or $21.33

How would you find the conversion rate on a retail website?

conversions/sessions

How would you determine the average order value for a retail website?

revenue/conversions

How would you determine Revenue per visitor for a retail website?

revenue/sessions

What does SEO stand for?

Search Engine Optimization

What is the Goal of Search Engines?

provide relevant and high-quality results to search queries

What is an On-Site SEO?

formatting content on the website to maximize its chances of ranking for all desired searches

What is Off-Site SEO?

creation and dissemination of content on a website to build quality backlinks to the site

What is a backlink?

a link on any other website that links back to your website.

What are 5 components of SEO?

• Size

• Time

• Popularity

• Linking

• Text

How can you Maximize relevance?

1. URL

2. Title Tag

3. Header Tag

4. Main content

5. Image Alt. Text

6. Anchor Text

How to use optimal keywork targeting?

• rank well for as many searches as possible

• ranking above 10- typically no traffic

• choice of target search phrases:

  • Relevance of search intent

  • traffic

  • competition

    • long tail keywords vs. fat head keywords

  • Current Ranking

How do you create High-Quality Webpages?

• Primary Sources: Backlinks

• Secondary Source: info on webpage, behavior on web page when visitors interact with the page

• Meta Description and Snippets: MUST be unique

• Short load times

• OG content

• Fresh content

• Quality content: Min 100 words

• Low bounce rate from landing page