ecommerce and marketing

Target Audience

is the group of people most likely to purchase the products or services being  advertised.

Budget

amount allotted for spending

Media mixDuration

specifies how much of a budget will be spent across each media channel in a campaign.also referred to as flight, is the length of a campaign and is easy to document.

Duration

also referred to as flight, is the length of a campaign and is easy to document.

Key performance indicators

a measurement or metric used to gauge how successful a campaign is.

Performance goal

a target that has a measurable, numeric value.

6 Steps to create a digital media plan

1. Confirm business goals 2. Confirm marketing goals 3. Conduct market research 4. Define performance (also called campaign) goals 5. Select the media channels 6. Determine and document all media plan items

Purpose of a target audience

A target audience is documented in a digital media plan for purely economic and strategic reasons. You want to spend a limited campaign budget on the people most likely to make a purchase. 

Purpose of a budget

A budget is documented in a media plan to help prevent over- or under-spending for a particular channel during a campaign.  

Purpose of a media mix

A media mix is critical to a media plan because it enables the right content decisions to be made based on an allocated budget for any particular media channel.

Purpose of a duration

duration, or flight, in a digital media plan specifies how long the campaign will run. 

Purpose of kpi’s

KPIs in a media plan document how you will measure campaign success for each media channel.

purpose of performance goals

including performance goals in a media plan allows you to consistently measure the performance and success of each media channel during a campaign.

Step 1: Confirm business goals

Assuming that these have already been established, identify and confirm what they are.

Step 2: Confirm marketing goals

Assuming that these have already been created, identify and confirm what they are.

Conduct market research

(Optional step) If a target audience isn’t clearly identified, market research can help you determine what it is. For example, market research can determine both customer personas and target audience.

Step 4: Define performance (also called campaign) goals

Be clear on what the campaign should achieve. Campaign goals usually have a relationship with a higher-level marketing or business goal. For example, if sales growth needs to occur in a particular region, a campaign’s goal can be to increase brand awareness through ads directed at users in that region.

Step 5: Select the media channels

Media channels selected for a campaign should align with the media preferences of the target audience. A media mix can then be created after identifying which channels have the highest priority.

Step 6 Determine and document all media plan items:

After you have determined the required items for a digital media plan, you can use a document or software media planning tools to help you create the plan.   

google ad

a pay per click ad online advertising platform that helps business reach customers.

google analytics

a free service that measures how users interact with website apps.

Benefits of google ads

promote products and services, increase website traffic, increase sales, drive instore traffic, market your app.

How google ads work

1. create ads, ad groups and ad campaigns 2. set targeting options like key words and locations, 3. bid on key words or how much to pay per clicks 4. google grades your ads and gives them ad rank, 5. When a user searches for a targeted key word google runs an auction to determine which ads to show6. The winning ad is delivered to the user.

Types of google ads

display ads, search ads, shopping ads, youtube ads

what google analytics do

track traffic across platforms, optimize campaigns, understand customers and marketing results, measure effectiveness of the business efforts, see what competitors are doing, prepare marketing strategies, assess digital marketing performance

how to start using google analytics

google analytics .com, slick start measuring, create an account, provide an account name, click next

examples of business goals

growing revenue, increasing profits, gaining MarketShare and improving customer service

Marketing goal

objective in a marketing plan or strategy that supports a business goal.

examples of marketing goals

raising brand awareness increasing web traffic, building new leads and increasing customer value

business goal

desired aim, achievement or outcome for a business.

examples of kpi’s

these are numeric… create for each campaign.

calculating ROAS

number of units sold divided by cost per unit and divided by the add spend. Often represented by a number ratio 3.75:1 or percentage375%

These can be set for each channel

ROAS example: 3:1 for search ads, 4:1for display ads 2:1 2:1 or social media ads

True

T/F people typically use results from previous campaigns to set ROAS targets for a new campaign

True

T/F Setting the roas to the same a slightly below the previous campaign is standard

True

T/F If historic ROAS metrics are not available make best esimates and adjust targets after some of the initial metrics are gathered and reviewd

True

T/F A digital media plan contains details about where, when, and how often an ad will appear across digital media channels. Documenting KPIs and metrics for each channel is essential for measuring campaign success. Media planning can be achieved using documents or specialized media planning tools.

In marketing, what is a performance goal?

in marketing a target that is measurable with a numeric value

True

T/F The return on ad spend (ROAS) is the most important performance goal for a specific ad campaign. It is the performance goal most often included in media plans.

description of return on ad spend

the ratio of revenue generated to the amount spent on advertising

True

T/F performance goals and their associated metrics define success. Without these success is guess work.

Example of business goals

Improve customer acquisition by 20% over nest 3 months

Performance goal

Increase the weekly new visitor counts to 20%

customer aquisistion

gaining new customers

AOV

average order value

average order value

the sum of individual order amounts divided by numer of orders

marketing goal example

increase the conversion volume from social media by 25% over the next 6 months

conversion volume

total number of conversions or total monetary value of conversions over a period of time

Smart Bidding

A/B testing

A method of testing where two versions of content with a single differing variable are compared to determine which yields better results

Artificial intelligence (AI):

Artificial intelligence (AI):

Attribution

Assigns credit for conversions from ads, last clicks, or other touch points along a user's path to conversion completion

Attribution project

helps marketers understand how different marketing activities contribute to conversions. It provides insights into the customer journey across various channels, like search ads, display ads, and social media, to optimize marketing strategies.

Autonomous marketing

Uses real-time analytics to automate marketing activities

Average order value (AOV)

The sum of individual order amounts divided by the number of orders

Big data

A field in analytics that systematically mines and extracts information from very large datasets for insights

Budget spend

How much is allocated to or spent on a campaign

Cookie

A small file saved on computers to store user preferences and other information

Cost per acquisition

(CPA): The average cost of acquiring a potential customer

Federated Learning of Cohorts

(FLoC): Grouping people together when they have similar browsing characteristics without the use of a unique identifier per browser; may be used for internet-based advertising which is an alternative to using cookies 

Incremental sales

The sales during a period of time that are above and beyond what a business normally sells in that timeframe

Key performance indicator

(KPI): A measurement used to gauge how successful a business is in its effort to reach a business or marketing goal

Lifetime value (LTV):

The average revenue generated by customers over a certain period of time

Macro conversion

A completed purchase transaction

Media mix

A combination of digital channels marketers use to reach their goals and how they divide their budget among them

Media plan

Contains details about where, when, and how often an ad will appear across all media channels.

Micro conversion

A completed response that indicates a user is moving toward a completed purchase transaction

Predictive analytics

Uses historical data to predict what might happen

Property

A website, mobile application, or web page that is associated with a unique measurement ID in Google Analytics to enable metrics collection 

Real-time analytics

Monitors immediate data for insights to respond to events more quickly

Remarketing

A strategy in which a marketer uses paid ads to target customers who have visited a website, app, or social media profile

Comma-separated values

(CSV): A file format in which a comma is placed between each data value in the file

Conversion paths

A feature in Google Analytics that enables a marketer to view the first and last touchpoints before conversion and touchpoints in between

Cross-channel attribution

A model in Google Analytics that attributes a percentage of a conversion to all advertising channels with touchpoints

Data-driven attribution

A model in Google Analytics that uses an account's historical data to calculate the percentage of a conversion to attribute to each channel

Dimensions

Attributes or characteristics of an event that determine the metrics collected in Google Analytics

Event

An activity that causes data collection to occur in Google Analytics

Metric

A quantifiable measurement that is used to track and assess a business objective

Personalized advertising

A type of advertising that relies on user interest or behavior data to determine the right audience for ads

Segment

A subset of analytics data that features a common characteristic; examples are a user segment, an event segment, or a session segment

Smart campaign:

A Google Ads feature that enables a marketer to advertise on Google Search, Google Maps, Gmail, YouTube, and certain Google partner websites without having a dedicated website

Tag management system

(TMS): Enables the deployment and management of many tags for multiple advertising platforms and systems in a simple and centralized way

UTM

A text tag added to a URL to help monitor that content

Variables

Refers to the segments, dimensions, and metrics configured in a Google Analytics account

Confidence interval

The range of possible values after accounting for the margin of errorThe range of possible values after accounting for the margin of error

Confidence level

How likely an experiment’s range of results would contain all results if the test ran longer; signify the probability that this interval captures the true parameter.

Continuous metrics

Metrics that are measured and change over time

Customer acquisition cost

(CAC): The average cost of acquiring a paying customer

Customer lifetime value (LTV

The average revenue generated per customer over a certain period of time

Discrete metrics

Metrics that have specific values, can be counted, or are binary—like on/off or true/false settings

Roas

metric that measures the revenue generated for every dollar spent on advertising

LTV to CAC ratio

The total LTV (total lifetime value) divided by CAC (customer acquisition cost)

Margin of error

The statistically-calculated difference between a test result and the theoretical result that could have come from a test with a lot more users

marketing mix models

(MMM) analyze the impact of different marketing activities (like advertising, promotions, and pricing) on sales. They help businesses optimize their marketing strategies based on historical data.

Smart Bidding

Manual Bidding

This can be used to set CPA goals

Historical campaign data or industry averages

CPA goal exampler

For a real estate firm with a $10,000 budget and a target CPA of $40, the goal is to achieve at least 250 conversions.

True

T/F Understanding CPA, ROAS, and CPC helps manage campaigns effectively.

True

T/F CPA helps you understand the cost-effectiveness of your conversions.