MKT 419 Midterm

When was Wi-Fi created?

When was Wi-Fi created?

1999 by the WiFi Alliance

When was the first banner ad launched?

1994 by AT&T

When was the Internet/the WWW created?

1991 by Tim Berners-Lee

When did social networks like Facebook and MySpace rise?

2007

When did social eclipse email as the primary communication channel?

2009

What is DDM?

Data Driven Marketing

What is CRO?

Conversion Rate Optimization, a digital subset term for DDM

How big is the digital marketing industry?

~$369B

Where in the industry are digital marketers spending the most?

Search, Social, & Display

What “first” did the US enter in August 2023?

Streaming overtook broadcast + cable

What percent of media/marketing does digital represent for 2024?

65%

What is larger for digital marketing, B2C or B2B?

B2C (94%)

What is the dominant industry for digital marketing?

Retail, then CPG and financial services

What are the types of banner/display ads?

CTA/direct response and branding

What is the goal of CTA ads?

drive a purchase or generate sales/action, often associated with a deal

What is the goal of branding ads?

promote the merits of a brand

Do we have a marketing strategy or a digital marketing strategy?

marketing strategy (omnichannel)

When did mobile overtake the desktop for consuming the internet?

2015

When did digital surpass offline media consumption?

2018

Digital marketing trends of 2023

-digital ad spend downgraded

-spend on digital video increases but at a slower rate

-big tech will solve the content moderation problem

-retail media platforms will diversify to compete with amazon

What is section 230?

Allows for web operators, large and small, to moderate user speech and content as they see fit

36 rules of social media

in notecard

Importance of CMO

More software purchases are being influenced by CMO above CIO, and the CMO must master both strategy and creativity with analytics to grow their business

What type of skillset is valued most?

Pi-shaped - people who are versed in marketing, technology, and collaboration/empathy/soft skills. people who bridge technical and commercial skills

How big is the email/SMS industry

~$7B

What has a greater ROI, email or social?

Email

11 reasons who your email list beats social media

in notecard

What’s another word for A/B testing?

Champion/Challenger

What elements do we test in email?

Subject line, message, layout and images, CTA, day/time sent

What is the goldilocks principle in email?

Emails are either too frequent or not frequent enough and marketers need to find the “just right”

How to obtain email lists

Buy or acquire PII info or build your own list

CAN-SPAN Act

Recipients can opt-out at any time and information cannot be false or misleading

What is ATC?

Air Traffic Control aka rules based engine

What are key metrics of email?

Open rate, click through rate, unsubscribe rate, bounce rate, cost per engagement

Calculation for open rate:

(number of emails opened)/number of emails delivered) X100

Calculation for click-through rate:

(number of emails clicked on the offer)/(total number of emails delivered) X100

Calculation for unsubscribe rate:

(number of unsubscribe requests)/(number of subscribers emailed) X100

Calculation for bounce rate:

(number of emails successfully delivered)/(total number of emails sent) X100

Calculation for cost per engagement (CPE)

(cost of the activity)/(total number of desired engagement)

10 ways to use social listening

in notecard

Social listening selection criteria

Data, sorting, analysis, reporting (and price and service)

Who is leading the retail media charge?

Amazon

Retail media

Marketing to consumers at or near their point of purchase, or point of choice between competing brands or products (online and in-store)

How much of digital is spent on retail media?

~20%

Last mile delivery

the movement of goods from a transportation hub to the final delivery destination (typically a personal residence)

What is DTC/D2C?

Direct to Consumer

What is SCANR?

The factors that matter on the digital shelf:

Search

Carousel of images

Assortment

Navigation

Ratings and reviews

8 steps of creating online display ads that work

On notecard

10 social business tenents

on notecard

Risks of non-response

damaged reputation and loss of the ability to influence the message

How can a company benefit from social media?

product development customer service, employee engagement, brand support/WOM, customer engagement

programmatic ad buying

the use of software to buy digital advertising

What is RTB

Real Time Bidding (using technology to bid on ad impressions based on the value they place on the viewer)

What is dominating programmatic growth

Video

What is the dominant publisher

News

What are the three V’s of Big Data?

Volume, variety, velocity

What is GDPR

General data protection regulation (the EU’s privacy regulation)

What is CCPA

California Consumer Privacy Act

Calculation for reach

the sum of reach points across all media channels

Calculation for frequency

Total number of impressions / reach

What is GRP?

Gross Rating Points - a measure of total impressions for an advertisement campaign

Calculation for GRP

reach X average frequency

3-hit theory

a consumer needs to see an ad at least three times before they have recall (across different mediums is even more impactful)

Effective frequency theory

advertising must be “always on” or continuous

Ad stock theory

GRPs have lagged effects; when we see an ad, we don’t go out and buy it immediately

Location Intelligence

incorporating real-time location monitoring capabilities to identify consumer trends

MOT steps

Awareness, consideration, conversion, loyalty, advocacy

4 MOTs

-Stimulus/awareness

-Research

-Purchase/subscribe

-Advocate/promote

What is an emerging method in last-mile delivery

drones

What is the key paradigm in digital?

target, message, deliver, measure

As media becomes more digitized, how does this affect media buying?

Media buying is moving away from up-front volume purchases to dynamic optimization. It is building awareness by surfacing content to searchers who might not even be looking.

What is the best structural asset a marketer can have?

a devoted customer base that has opted-in to your brand

What do marketers fear most in moving to digital?

lack of past experience

What are the 3Ms? 

market, message, medium