I wrote a summary of all the 10 lectures of Digital Marketing Analytics in 2022/2023. It is a summary of the lecture slides with the most important stuff and some extra explanation when something wasn't clear yet from the slides.
Summary of lectures of Digital Marketing Analytics 2022/2023
Lecture 1: introduction
Digital marketing defined by the Financial Times:
- The marketing of products or services using digital channels to reach customers. The key
objective is to promote brands through various forms of digital marketing.
- Digital marketing extends beyond internet marketing to include channels that do not require
the use of internet. It includes mobile phones (Both SMS and MMS), social media marketing,
display advertising, search engine marketing and any other form of digital media.
On august 6, 1991 the world wide web was launched to the public, from there everything went very
fast.
Moore’s Law: The number of transistors on microchips doubles every 2 years. This means that every
2 years, computer chips get more advanced/better. Also applied to other electronics such as: quality
adjusted microprocessor prices, memory capacity, sensors and even more pixels in cameras. The
digital possibilities grow exponentially.
There is increasingly more storage available and the costs per GB decrease (in 1980 it was
$10.000.000 per GB and now only like $0.017).
Also the internet speed is increasing exponentially.
In developing world there is increasingly more internet users. It is likely that the developing world
will catch up or even skip phases, which is linked to the Law of the handicap of a head start.
Nielsen's Law states that the average internet connection speed will always be faster than what the
average user needs to access the content they want.
Data is not a goal itself:
Online retailing wins market share from traditional retailing, but there is quite a large difference
between categories and countries. digital ad spending worldwide is also still increasing.
Advantages digital marketing in conducting marketing research: more and richer data is available
which makes targeting easier and it is possible to manage & track individuals.
,Customers can be tracked individually through cookies and other tracking techniques (like
clickstream data). It also is easier to do a large scale A/B testing (for example: groups of customers
see different versions of a website).
Lecture 2: Online advertising
Biggest part is search marketing, then display advertising, then social media and then email
marketing.
Payment of traditional (mass) marketing depends on:
- Type of ad (print, sound, video)
- Size and position of ad
- The audience size (reach)
- The target group (broad vs specific, also for example more expensive for sites which
business people visit)
- The quantity (discount if you buy more)
Payment of online advertising:
- Cost per mile (CPM): amount to be paid per 1000 ad impressions. Price differs a lot per
media (direct mail most expensive, radio least expensive, after that online least expensive,
$5-$17.50)
- Cost per click (CPC): amount to be paid per click on ad
- Cost per action/acquisition (CPA): amount to be paid (or a share of revenue) when a click on
the ad led to a certain action (like filling in a form, subscribing to newsletter or buying a
product)
, (Click through rate mostly <1% so this is high. ROI of 87.5% is also high.)
Types of search results:
Organic = free
Sponsored = paid
Both determined by algorithm (and sponsored also by price paid)
Sponsored search results often CPC
SEO:
SEO can be manipulated by putting some keywords very often but google is getting more and more
advanced so google will see this and you can be punished (for example blocked).
- Have unique content, which is well written, focus of specific topic
- Make the content fit specific keywords on which it has to perform well
- Optimize technical side of the website: uptime, speed, no errors, well structured, up to date.
- Make sure external sites link you, including social media
- Monitor the performance of the website on search engines, improve continuously, check
what visitors are looking for, conversion/bounce rates etc. (bounce rate: when people leave
the site after a few seconds which is not good for SEO)
Make a search engine ad:
1. Select keywords
2. Create ad copies (what does the link and description look like?)
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