Summary lectures Digital Marketing Metrics, all essential information for the test. (2020/2021)
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Course
Digital Marketing And Metrics
Institution
Vrije Universiteit Amsterdam (VU)
All essential information for Digital Marketing Metrics. Summary of all lectures, sheets, notes of sheets, some notes of live lectures and tutorials. Be aware, it doesn't include all tutorials. For example, the excel tutorials. Good luck!
Might include some Dutch words, in order to explain.
Summary Digital
Marketing Metrics 2021
PERIOD 5
VRIJE UNIVERSITEIT AMSTERDAM
,Tabel of content
Lecture 1................................................................................................................................................................2
Lecture 2................................................................................................................................................................3
Tutorial 1: CLV basics.............................................................................................................................................6
Lecture 3: live zoom session about assignment....................................................................................................8
Lecture 4................................................................................................................................................................8
Lecture 5: social media ads.................................................................................................................................12
Lecture 7: BBVA case feedback...........................................................................................................................20
Recap tutorial midterm.......................................................................................................................................23
Lecture 8: eWOM marketing & metrics...............................................................................................................24
Lecture 9: effect of eWOM..................................................................................................................................27
Lecture 10: Motivations for eWOM.....................................................................................................................28
Lecture 12: online and offline ads along the funnel, impact of digital marketing: cross-effects........................31
1
,Lecture 1
Digital marketing: adaptive and technology enabled process by which firms collaborate with
customers and partners create, communicate, deliver, and sustain value for all stakeholders.
Problem:
- Changing business landscape
- Changing buying patterns
- Envolving consumer needs
- Increasing competition
- Increasing marketing expenditures
Metrics to form good management
FIC: firm initiated channels: whereas in firm-initiated channels, such as display advertising, the
advertiser determines timing and exposure.
CIC: customer initiated channels: such as SEA, potential customer trigger the communication with
the active search.
- Exhibit higher sales elasticies than FIC, because they appear less instrusive and more relevant.
Switching from FIC to CIC indicates progress in the purchase decision process. Because the
customer actively searches and thus is interested.
Research shoppers: customers that search in one channel and purchase in another.
- Showrooming: search in store, buy online
- Webrooming: search online, buy in store
makes measuring more difficult
can have a negative effect on webshops or shops: there could be a reason for that: better price,
more info etc.
Multi-channel: the design, deployment, coordination and evaluation of the different channels through
which the marketer acquires, retains and develops customers.
2
, Focus on managing and optimizing the performance of each channel.
Omnichannel: the design, deployment, coordination and evaluation across different channels
through which a marketeer acquires, retains and develops customers.
Focus on integrating activities across channels to correspondent to how customers shop.
Channels: channels of distribution and communication.
Omnichannel strategy: Eligiganten (Sweden)
- Key point: importance of understanding customer needs
- Their behavior: what do they prefer, how do they act online and offline? What is the best for the
customer in the omnichannel.
Managing the entire customer experience across touchpoints in a customer journey:
- Identify critical touchpoints, throughout the customer journey that have the most influence on key
customer outcomes.
- The effect of an individual touch point may depend on when it occurs in the overall journey, on the
type of customer, on the type of product (hedonic (=for status)/ utilitarian (= functional)) etc.
o Hedonic: people tent to rely more on social media and experience.
How do we measure the effectiveness of our digital marketing activities?
- Attribution problem: How do we figure out how much a specific touchpoint contribute to the
customer journey, how much should the firm allocate to a touchpoint.
o Singe touch: Last interaction
o Multi-touch: linear or time decay.
- 87% of companies use digital attribution models, however
only 58,3% does use multichannel attribution models.
- Multichannel is important for measuring the overall effect.
Lecture 2
Pre purchase: understanding search: zero moment of truth (ZMOT): in between stiumulus and point
of sale.
- The moment where the prospect has seen the ad of a product, but before the moment where he or
she sees it for real.
- We can call it the moment in-between the first stimulus and the first (virtual) contact with the
product.
Zero moments: moments between seeing an marketing stimulus and going to the store / point of sale
(usually to get more info, look for discount or to compare)
Post purchase is also about search.
Understanding search: consumer needs shape search behavior and drive intent.
- Surprise me: searching for fun and entertaining.
o Extensive with many unique iterations
- Thrill me: search is a quick adventure to find new things.
3
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