Summary Digital Marketing & Analytics
DMAWeek1: Introduction: Digital Marketing, MetricsArticle 1.1: Leeflang P.S.H, Verhoef P.C., Dahlström P. and Freundt T. (2014), Challenges and Solutions for Marketing in Digital Era, European Management Journal, (32), 1‐12[pic 1]The three (four) potential challenges that are most important for digital marketers:Ability to generate and leverage deep customer insight (2)Managing brand health and reputation in a social media environment (4)Assessing the effectiveness of digital marketing (8)(The increasing talent gap in analytical capabilities within a firm) (9)The biggest improvement opportunities of dealing with these challenges of digital are:Filling talent gaps (supply and demand of analytically trained people in marketing) (9)Adjusting the organizational design (10)Implementing actionable metrics (8)Article 1.2: Edelman D. and Salsberg B. (2010), Beyond Paid Media: Marketing’s New Vocabulary, McKinsey Quarterly, (November)[pic 2]
The five media forms are evolving in four primary ways:Different kind of media are becoming more integratedNew publishing models are emerging (cooperations with media providers) due to complexity of consumer needs and the inability of marketers to address themMarketing experiences are becoming more personally relevantConsumers are engaging more often in real-time conversations, they may express themselvesFour priorities for marketing in organizations:Think strategically about the role of each media typeRebalance time and resourcesDevelop a clear community or social-networking strategyImprove both the art and science of marketingLectureScope of Digital Marketing: APPLYING Digital technologies forming online channels (Web, e-mail, databases, mobile)TO Contribute to marketing activities aimed at achieving profitable acquisition and retention of customersTHROUGH Improving customer knowledge, delivering integrated targeted communications and online services matching their individual needsBenefits of digital marketing: 5 S’s:Sell: grow salesServe: add valueSpeak: get closer to customersSave: save costsSizzle: extend the brand onlineDigital vs Traditional Marketing• Lower cost• Targeted (even personalized)• Real-time (results, monitoring and adjustments)• Product information• Less intrusive (push vs. pull)• Interaction• MeasurabilityCompanies store different types of data:Touchpoint dataSession dataPersonal-communications dataKPI’s – RACE THE Conversion Funnel[pic 3][pic 4]