MKT 419 Midterm

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74 Terms

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When was Wi-Fi created?

1999 by the WiFi Alliance

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When was the first banner ad launched?

1994 by AT&T

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When was the Internet/the WWW created?

1991 by Tim Berners-Lee

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When did social networks like Facebook and MySpace rise?

2007

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When did social eclipse email as the primary communication channel?

2009

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What is DDM?

Data Driven Marketing

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What is CRO?

Conversion Rate Optimization, a digital subset term for DDM

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How big is the digital marketing industry?

~$369B

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Where in the industry are digital marketers spending the most?

Search, Social, & Display

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

Streaming overtook broadcast + cable

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

65%

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What is larger for digital marketing, B2C or B2B?

B2C (94%)

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What is the dominant industry for digital marketing?

Retail, then CPG and financial services

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What are the types of banner/display ads?

CTA/direct response and branding

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What is the goal of CTA ads?

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

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What is the goal of branding ads?

promote the merits of a brand

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

marketing strategy (omnichannel)

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When did mobile overtake the desktop for consuming the internet?

2015

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When did digital surpass offline media consumption?

2018

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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

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What is section 230?

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

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36 rules of social media

in notecard

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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

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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

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How big is the email/SMS industry

~$7B

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What has a greater ROI, email or social?

Email

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11 reasons who your email list beats social media

in notecard

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What’s another word for A/B testing?

Champion/Challenger

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What elements do we test in email?

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

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What is the goldilocks principle in email?

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

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How to obtain email lists

Buy or acquire PII info or build your own list

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CAN-SPAN Act

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

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What is ATC?

Air Traffic Control aka rules based engine

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What are key metrics of email?

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

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Calculation for open rate:

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

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Calculation for click-through rate:

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

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Calculation for unsubscribe rate:

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

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Calculation for bounce rate:

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

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Calculation for cost per engagement (CPE)

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

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10 ways to use social listening

in notecard

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Social listening selection criteria

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

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Who is leading the retail media charge?

Amazon

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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)

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How much of digital is spent on retail media?

~20%

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Last mile delivery

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

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What is DTC/D2C?

Direct to Consumer

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What is SCANR?

The factors that matter on the digital shelf:

Search

Carousel of images

Assortment

Navigation

Ratings and reviews

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8 steps of creating online display ads that work

On notecard

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10 social business tenents

on notecard

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Risks of non-response

damaged reputation and loss of the ability to influence the message

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How can a company benefit from social media?

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

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programmatic ad buying

the use of software to buy digital advertising

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What is RTB

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

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What is dominating programmatic growth

Video

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What is the dominant publisher

News

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What are the three V’s of Big Data?

Volume, variety, velocity

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What is GDPR

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

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What is CCPA

California Consumer Privacy Act

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Calculation for reach

the sum of reach points across all media channels

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Calculation for frequency

Total number of impressions / reach

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What is GRP?

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

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Calculation for GRP

reach X average frequency

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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)

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Effective frequency theory

advertising must be “always on” or continuous

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Ad stock theory

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

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Location Intelligence

incorporating real-time location monitoring capabilities to identify consumer trends

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MOT steps

Awareness, consideration, conversion, loyalty, advocacy

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4 MOTs

-Stimulus/awareness

-Research

-Purchase/subscribe

-Advocate/promote

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What is an emerging method in last-mile delivery

drones

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What is the key paradigm in digital?

target, message, deliver, measure

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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.

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What is the best structural asset a marketer can have?

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

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What do marketers fear most in moving to digital?

lack of past experience

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What are the 3Ms? 

market, message, medium