MKT 315 Exams Questions with Comprehensive Solutions

MKT 315 Exams Questions with Comprehensive Solutions Content Marketing A type of marketing that involves the creation and sharing of online material (such as videos, blogs, and social media posts) that does not explicitly promote a brand but is intended to stimulate interest in its products or services. Search Marketing The process of gaining traffic and visibility from search engines through both paid and unpaid efforts. SEO Earning traffic through unpaid or free listings SEM Buying traffic through paid search listings. Social Media Marketing Social media marketing, or SMM, is a form of internet marketing that involves creating and sharing content on social media networks in order to achieve your marketing and branding goals. Email Marketing The act of sending a commercial message, typically to a group of people, using email. In its broadest sense, every email sent to a potential or current customer could be considered email marketing. ... Marketing emails can be sent to a purchased lead list or a current customer database. Product Creation The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product. Copywriting The act of writing text for the purpose of advertising or other forms of marketing. The product, called copy, is written content aiming to increase brand awareness and ultimately persuade a person/group to take a particular action. Customer Avatar Digital speak for buyer persona or target audience Be as specific as possible to craft personalized content, offers and campaigns 1. goals and values 2. sources of information 3. demographics 4. challenges and pain points 5. objections Goals and Values Product Creation: What products/services can you develop to assist the avatar in meeting their goals? Advertising: How can you describe these offers in your ads and sales copy? Content Marketing: What blog posts, podcasts, newsletter, and other content vehicles might your avatar respond to? Email Marketing: How can you tailor your email subject lines and body copy to be consistent with the avatar's goals? Sources of Info My ideal customer would: read ______, but no one else would. subscribe to ______, but no one else would. attend ______, but no one else would. The idea is to find their niche. Challenges/Pain Points What is holding the avatar back from achieving their goal? Objections Why would the avatar decline to buy the product/service? Prepare ahead of time to combat any objections the avatar may have. Customer Journey 1. generate awareness 2. drive engagement 3. build subscribers/leads 4. increase conversions 5. build excitement 6. make the core offer sale 7. develop brand advocates 8. grow brand promoters generate awareness advertising, social media, search Drive engagement t's not enough to make a cold prospect aware, you must engage blog posts, podcasts, videos Build subscribers/leads anyone who has given you permission to have a conversation with them email, facebook, twitter, instagram, iTunes, stitcher Increase conversions convince the prospect to give you a little time or money here we are beginning to onboard build excitement The value of the offers should exceed the price paid by the customer Make the core offer sale Prospects are much more likely to buy now that they have developed a relationship Develop brand advocates testimonials, reviews You build this relationship by adding value and delivering on your promise - delivering consistently quality products Grow brand promoters Promoters go beyond advocacy The brand is part of their life A promoter is active whereas an advocate is more passive Establishing Marketing Objectives Increasing problem and solution awareness Acquiring new leads/customers Activating leads/customers Monetizing existing leads/customers Onboarding new leads/customers Building community and advocacy digital campaign - objective based Coordinated actions intended to achieve a specific business goal digital campaign - multi-parted Content, landing pages, ads, etc. digital campaign - seamless and subtle Make your Call to Action (CTA) simple - don't propose on the first date digital campaign - in flux Much simpler to pivot/tweak digitally than traditionally Acquisition campaigns Acquire new prospects/customers Acquisition campaigns do the work on the front end of the customer journey not all about profit Monetization Campaign Generate revenue from existing leads/customers Make profitable sales/offers to the leads/customers you acquired with your Acquisition campaign Engagement campaigns Create communities of brand advocates and promoters Customer interactions should go beyond the simple transaction of buying goods/services A superior product matched with a superior experience Which Type of Campaign? Do ask, "Which should I use right now?" New business - Acquisition Existing leads - Monetization Comfortable - Engagement If you don't know where to start, begin with an Acquisition campaign Types of EPOs ungated: Does not require contact info or a purchase to get value gated: Requires contact info to get value deep discount: Requires a purchase at a deep discount, generally 50% or greater Designing an Ungated Offer Entertainment: People pay a lot to be entertained, use short content to get across your message Inspiration: Use inspirational content to challenge a buyer Education: People want knowledge Designing a Gated Offer To graduate someone from prospect to lead, you need a gated offer to capture their contact info Use for a specific problem in a specific market You exchange value for the right to contact the lead in the future Specificity is key to a gated offer b/c it increases relevancy A simple "Subscribe to Newsletter" isn't enough What Matters in a Gated Offer A promise An example A shortcut A solution A discount Rapid consumption is important b/c you want to provide value as quickly as possible A Promise Craft a clear promise and make sure it's in your title - don't try and be too clever Tie the title to the benefit the target audience will receive What are the prospects fears, concerns or desires? An Example Often the best content is a Case Study Clearly state the benefit and add specificity to the offer A Shortcut Saving a person time is appealing and converts well i.e. a list of healthy snacks can help someone eat a more nutritious diet A Solution Raise and answer a specific question to provide value Helps establish you as an authority on the subject A Discount Opt-in to receive the discount Wording is key to effectively tell the prospect how much they'll save Generating Leads with Tools Handout or cheat sheet Similar to a free report, just very short Resource list If you're an expert, share your tools Template A preconfigured spreadsheet or a layout for designing something These are powerful b/c they can be put to immediate use Software Offer a trial to capture an email address Discount and coupon clubs Offer exclusive savings and early access to sales Quizzes and surveys Fun an engaging Assessment Offer an assessment and then provide a grade Factors in Gating 1. Is your offer extremely specific? If so, make your promise very specific and provide a specific solution to a specific problem 2. Are you offering too much? Focus on one big thing rather than many small things - stay on course 3. Does the offer speak to an end result? Promise a solution 4. Does the offer deliver instant gratification? NOW - be specific about timeline 5. Does the offer shift the relationship? Move prospects closer to the purchase stage 6. Does the offer have a high perceived value? Don't skimp 7. Does the offer have a high actual value? Live up to your promise 8. Does the offer allow for rapid consumption? Don't be a roadblock, help the prospect move to the next step Designing Deep Discounts Physical premiums -May actually lose $ Offer a book -Often an e-book Webinars -Call it a teleclasss, boot camp or training Software Splinter a service According to research published in the book Marketing Metrics, it's about 50% easier to sell to an existing customer than to acquire a new one. Deep Discounts Deep discounts help leads overcome doubt about your business Offer small wins i.e. a gym selling a 7 day juice cleanse at a deep discount and saying it's the hardest part of getting started back on the road to fitness Maximizing Profit Cross-sell -A related product Immediate upsell -More of the same Build bundles and kits -Create anew value proposition Add a slack adjuster -A product/service that costs much more than your typical offer -Only a small number of sales will have a large impact Recurring billing (a continuity offer) -Offer anytime cancellation -Be clear about the additional value Content Marketing Content is what people crave Low-cost publishing makes creating content easy, but the ever-changing nature of the Internet makes it complex A plan is necessary or else you're depending on dumb luck Anticipate needs, then satisfy them The Marketing Funnel Awareness: Entertain, inspire or educate Evaluation: Various choices, including competition, is evaluated Conversion: Convert leads into repeat and high-ticket buyers The Marketing Funnel Top of the Funnel (TOFU): Entertain, inspire or educate with ungated content Middle of the Funnel (MOFU): Convert problem aware prospects into leads with gated content Bottom of the Funnel (BOFU): Convert leads into repeat and high-ticket buyers by helping them decide to buy Top of the Funnel Blog posts: Raise awareness and help offer a solution Nike Blog Social media updates: Free, valuable content Infographics: Entertaining AND educational Create for free Photographs: Explain a lot in a single image Breaks up text content Digital magazines and books: E-books Podcasts: Consumable content on the go Microsites: An auxiliary blog about a specific topic Print magazines and newsletters: Still viable but more expensive Primary research: Offer results so others don't have to collect their own Middle of the Funnel Educational resources: Reports, white papers, webinars, etc. Maintain a high quality or else leads will feel cheated once they provide their contact info Useful resources: Cheat sheets, lists, templates, software, surveys, quizzes, assessments, coupon clubs, etc. Save the lead time and energy Don't be passive, i.e. put a gate on the sidebar of a page. A missed gated offer doesn't create any leads. MOFU - Squeeze Page Drive traffic directly to your landing page using social media, email, SEO and paid traffic Bottom of the Funnel Demos: The downside to buying online is the inability to touch Demonstrate your product thru video, screenshots, etc. Customer stories: Prove your product can solve a problem Comparison/spec sheets: Compare your product to competition, as well as, among your own offerings Webinars/events: Use for complex, risky, or high-ticket items Retargeting Also known as remarketing, allows you to keep your brand in front of bounced traffic after they leave your website. For most websites, only 2% of web traffic converts on the first visit. Retargeting is a tool designed to help companies reach the 98% of users who don't convert right away. A cookie-based technology that uses simple Javascript code to anonymously 'follow' your audience all over the Web. You place a small, unobtrusive piece of code on your site (the code is often referred to as a pixel). The code, or pixel, is unnoticeable to your site visitors and won't affect your site's performance. Every time a new visitor comes to your site, the code drops an anonymous browser cookie. Later, when your cookied visitors browse the Web, the cookie will let your retargeting provider know to serve ads, ensuring that your ads are served to only to people who have previously visited your site. Choosing Avatars Decide which avatar this content targets -Each avatar will possibly have different intents, motivations, and problems -Some content will cross but the most effective content will speak directly Distributing Content to Attract an Audience Marketing thru email is still the best method for making offers and sending more content -Growing and managing your email list is critical Capturing leads thru search (SEM) is still important but often handled by major engines Using social to drive traffic depends on your brand personality and platform requirements Paying for traffic helps segment visitors and makes use of retargeting -It is predictable blog a tool to help you manage certain pages of a site The power of a good blog is that is can generate awareness for your company, brands, customer-facing employees, products, and services The main purpose is to create awareness and engagement Brainstorming Post Ideas BuzzSumo is a site that allows you to analyze what content is performing well on social for a specific topic -Search for keywords and phrases -Adjust for specific types of content -Compare to competition using their domain Establish content segments -Blog post formats that repeat on a schedule and follow a similar style/template -Easily repeatable and quickly consumable -Your audience will learn to expect them and this provides consistent value Working with Content Creators To engage outside content creators, include the following in a "Write for Us" section on your site: -Acceptance of bylined articles Most writers want to know you will link to their own site -Statement of pay If you want to pay for outside content -Content categories Outline the topics you want covered -Contact form Blog Headlining Tap into self interest "What's in it for me?" Example: Grow Your Website Traffic In 3 Steps Pique curiosity Create an itch that needs to be scratched Example: 20 Things You Didn't Know Your iPhone Could Do Urgency and scarcity Act now Example: Limited Time Amazon Sale on Beats by Dre Issue a warning Protect from a threat Example: Don't Buy Another Gallon of Milk Until You Read This Borrow authority Use social proof to leverage behavior of others Example: What Usain Bolt Eats as a Midnight Snack Reveal the new Keep your audience informed Example: New Tribe Discovered in the Amazon Rainforest Content Creation Successful content marketing often requires the persistent creation of great content on a regular basis. This content could span from a simple blog post to an extremely complex interactive graphic. As with everything else, you can maximize your productivity by equipping your business with the right tools to tackle all kinds of digital content creation. But in a constantly evolving digital landscape, tools come and go along with fads in various content types and formats.