Class notes
Digital and Social Media Strategies: INTENSIVE Lecture notes
- Course
- Institution
Extensive lecture notes that helped me pass the exam!
[Show more]
Seller
Follow
ahnngx23
Content preview
Lecture 1:Digital Marketing: Marketing of products and services using digital technologies, mainly on the
internet, but also includes mobile phones, display advertisement and other digital medium.
Social media marketing: Process of creating tailored content to
● Drive engagement
● Promote business
● Generate revenue
Marketing Strategy: overall game plan for reaching prospective consumers and turning them
into customers.
DSMS: game plan to reach out to prospects and convert them into customers via digital
technologies and social media.
Strategic Questions:
Can be answered > quantified with a number > number credibly quantified > from correct
statistical analysis of right data
Methods to Analyse Data
● Descriptive analytics (+ Exploratory analysis)
○ Summarises characteristics of data set
○ Results are stylised facts
○ Eg: mean, median, mode, SD
● Causal analysis: Does A lead to B?
○ Think about mechanism of how it happens
○ Might also care about the mechanism of how it happens
■ Causal data driven mkt: What is the impact of a mkt intervention (X) on
outcome (Y)
● Hard to evaluated
● Need to compare counterfactuals
● Challenge: The same person cannot both get treatment and not
get treatment (has to divided target population into groups (A/B
testing)
● Predictive analysis: How can I best predict an outcome?
○ When A occurs → So does B (this is not the focus of this class)
Benefits of using R
● Purpose built statistical software
● Wide variety of statistical and graphical techniques
● Free and open source
,Lecture 2: Marketing Attribution Models - Ad Attribution
● The goals of any marketing campaign is to increase sales, either if the campaign is short
or long term
● To evaluate marketing performance:
1. Incremental sales
- Additional sales made due to
advertising over and above what would
have been sold without advertising
- Incremental profit: Additional profit mad
dude to advertising over and above
what would have been sold without
advertising
2. Marketing Attribution Models
a. Conversion journey
i. Marketing attributions: the
process for determining which marketing touchpoints led to a conversion
ii. Attribution model: rules, or set of rules that determines how conversion
credit is assigned to different marketing touchpoints
b. Food for thoughts: How can I attribute credit to multiple campaigns that contribute
to generating a conversion? Attribution problem assumes data on individual
consumer journeys
i. Approach:
1. Rule based attributions
2. Data driven models
c. What KPIs can we attribute to ads?
i. Brand awareness
ii. Brand knowledge
iii. Brand emotions
iv. Brand positioning
v. Brand attitude
vi. Brand relationship
3. Rule based models
,1. Last touch attribution: looks backward from each conversion to find that last ad
user saw prior to the conversion (Last-clicked)
● Since consumers don't click on ads that much, attributed sales is lower when
using last click attribution
● Simple and ease of use
● Best used when really focused on driving conversions
Limitations:
● Other ads may have influenced customer and contributed to the sale
● All sales are treated as incremental
● Unfairly favours channels that tend to show ads towards the end of path to
purchase
● Unable to track engagement that initially lead consumers to brand
2. First touch attribution: Looks backwards from each conversion to find the first ad
users saw prior to conversion (First-clicked)
○ Easy to implement, simple to understand
○ Does not provide visibility into lower funnel touchpoints
○ Best when focused on demand generations and lead forms
3. Linear Attribution: looks backwards from each conversion to find every ads users
saw prior to conversion, and assigning them equal weight
○ Gives full picture of customer interaction
○ Not all interactions are created equal
○ Best use when touchpoints have relatively equal importance in relation to overall
goal.
, 4. Position based attribution: Look backwards from each conversion to find every ad
users saw prior to conversion and assign higher weight from first AND last.
○ Need to decide on what the higher weight is.
○ Common: 30/40% for both first and last
○ Aka U shape attribution
○ Best to use when curious about specific touchpoints, but want to see full picture
too
5. Time decay attribution: looks backwards from each conversion to find every ad
users saw prior to conversion, assigning higher weight to more recent ads.
○ Assumes later touchpoints has bigger impacts
○ Best to use for lengthy sales cycles eg B2B
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ahnngx23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.54. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now