I need a discussion done for week 6 Marketing in a Global Environment
Channels and Metrics
NOTE: At the start of your discussion post, remind your peers of the company and product/service you have chosen for your marketing campaign.
Choose one social media channel and one traditional channel that you plan to use in your marketing campaign. For each channel, answer the following questions:
Why is this channel an appropriate choice to promote your product or service?
What type of data will you be able to collect related to your use of this channel in your campaign?
What metrics and KPIs might be useful in assessing your return on investment for this channel?
Dr. Crispin’s Weekly Discussion Thought Starter
In calculating the ROMI for your product, what metrics would you use to best determine the ROMI for your digital marketing campaign? Remember ROMI = Profit – Investment Cost/Investment Cost
As part of your investment cost, would you also include the time invested by people over and above your marketing investment? How would you calculate the Profit Metric for your product and why? Given the impact of the COVID-19 pandemic on advertising spending and investment, would you expect ROMI to go up or down?
Advertising post-COVID 19: Disruption to change dynamics, increased focus on ROMI
Click HERE or copy the URL below
https://bit.ly/3coUGjM
Now consider the company’s own website, which is also a digital marketing channel. Answer the following questions about the company website:
What type of content will be needed on your own website to promote your product or service?
What type of data will you be able to collect from the company website to assess ROI? How will you collect this data?
JWI 518: Marketing in a Global Environment
Week 6 Lecture Notes
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copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University.
JWI 518 Lecture Notes (1204) Page 1 of 7
Marketing Productivity Metrics
What It Means
What metrics are most important for marketers to track over time? Sales metrics, such as
purchase volumes, repeat customers, and entry into new markets are all useful metrics that
provide snapshot data about product performance. Marketers refer to these metrics as Key
Performance Indicators or KPIs. However, new metrics are needed to track success in the
digital marketing environment, with its focus on moving customers from brand awareness to
purchase to advocacy. Marketers need a way to go beyond snapshot metrics and to measure
consumer progress along the pathway from brand awareness to purchasing, and then from
initial purchases to brand loyalty and advocacy.
In this lecture, we will explore the tools used to measure productivity in digital marketing
campaigns. This includes a range of key digital marketing metrics already in use, as well as the
new ratio metrics proposed by Kotler et al. to align with their model of the Five As customer
pathway. You will learn about current marketing technology and see which tools are used to
support digital marketing campaigns. As digital messaging and social media platforms grow
every more popular with marketers, Martech tools are increasingly important in enabling us to
collect detailed digital customer data and to create useful metrics based upon such data.
Why It Matters
Key performance indicators continue to provide basic marketing and productivity
data
Digital marketers must also understand new tools for digital tracking and analytics
All digital marketing uses some form of marketing technology to collect and analyze
customer data
The ultimate goals are to increase attraction, optimize curiosity,
build commitment, and increase advocacy.
Kotler, Kartajaya & Setiawan
JWI 518: Marketing in a Global Environment
Week 6 Lecture Notes
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JWI 518 Lecture Notes (1204) Page 2 of 7
Traditional Marketing KPIs
Traditional marketing metrics all need to establish a measurement of success for the marketing
department centered around engagement and driving value. Traditional marketing campaigns
rely heavily on the number of impressions that the campaign gets, also known as its reach. A
key measure for print media, for example, is the potential number of customers or audience size
the print media is going to reach. Publication companies who partner with businesses will
usually provide them the details of their audience size. Marketers need to determine the right
content and the marketing messages to generate for that audience size.
Another key area in traditional marketing that needs to be measured is the level of sales and the
companys profitability. These metrics are often used as the basis for the budget offered to the
marketing department for the next planning period. A major element in any marketing budget is
the advertising budget for a specific time period. An important Key Performance Indicator (KPI)
that measures the effectiveness of advertising is ROMI, which stands for Return on Marketing
Investment. This KPI is critical because it shows, for every dollar spent in advertising, how much
money the company received in return. It is simple to calculate, by dividing the amount of
money earned in sales by the amount of money spent on ads.
For example, lets say that a company has spent $1,000 on a particular advertisement, and in
return it has generated $3,000 in sales, as a result of that advertisement. The ROMI evaluation
on this example is calculated as shown below:
Sales / Spending = 3,000 / 1,000 = 3.0
Digital Marketing KPIs
In digital marketing, the traditional marketing metrics of impressions, reach and ROMI are still
very important. However, with technology that can track many more aspects of digital marketing
behavior, the types of KPIs that can be tracked are now much greater. Digital marketers can
track the customer journey in great detail, from beginning to end, or as Kotler et al. describe it,
from awareness to advocacy. With so much data available, it can be confusing to know which
metrics to collect and how much importance to give to each one.
JWI 518: Marketing in a Global Environment
Week 6 Lecture Notes
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JWI 518 Lecture Notes (1204) Page 3 of 7
Certain digital marketing KPIs are generally viewed as the most useful and significant metrics,
that business leaders should use to measure success. These KPIs are described below:
Clicks
This metric shows how many clicks a campaign or digital ad generated. It includes clicks on
any type of digital message e.g., a website banner, social media post, email ad etc.
Open Rate
This is an email advertising metric. It measures the percentage of people who opened an
email; it is considered to represent the effectiveness of the subject line of the email.
Click to Open Rate
This is another email advertising metric. In this case, it measures how many people clicked
through i.e., they went beyond the email message to engage further with that website or
company. Somehow the email ad encouraged the customer to follow up and find out more.
Bounce Rate
This can apply to any digital message. It measures the percentage of people who visit a
website or click on an ad, but then leave without more connection with the digital campaign.
Unique Visitors
This metric measures the number of unique customers that visit a website over a certain
time period, such as 30 days. This shows the overall customer count coming to the website,
while ignoring repeat visitors. It is useful to assess acquisition of new prospects.
Visits
This metric is not the same as unique visitors, because it counts the total number of visits to
a website over a time period, without ignoring repeat visits. If one person visits the website
5 times in 30 days, they are counted once in the Unique Visitors metric. That same visitor is
counted as 5 visits in the simple Visits metric.
Conversion
This metric is the ultimate digital KPI used to show the effectiveness of a digital marketing
strategy. It measures the percentage of those people who visit a website or click on a digital
advertisement that also take action, by buying a product or signing up for a service.
JWI 518: Marketing in a Global Environment
Week 6 Lecture Notes
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copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University.
JWI 518 Lecture Notes (1204) Page 4 of 7
New Marketing Metrics
Traditional metrics in the field of marketing have focused on sales and revenue, rather than
customer relationships, so they are not well adapted to measuring growth in brand awareness
and advocacy. New metrics are needed to measure the productivity of social media marketing
activities. Kotler et al. have designed some proposed new metrics that can be used to measure
the strength of the customers connection to the brand.
Traditional marketing metrics measure the volume of goods sold, profits earned, and the
number of repeat customers. But Internet tools provide copious data that goes well beyond such
metrics. How can all this data be analyzed in the most informative way? Based on the Five As
framework, marketing metrics should go beyond the traditional basic outcome snapshots, since
those figures only reflect results at one point on the customer path. New metrics are needed
that measure consumer progress through the five-step process from awareness to advocacy.
New Metrics: PAR and BAR
To satisfy this need for new metrics, Kotler et al. propose two new metrics using a ratio format:
purchase action ratio (PAR) and brand advocacy ratio (BAR). These metrics correspond to the
Five As customer path model and they measure progress in building strong relationships with
digital customers. The new metrics do not simply measure sales or profits. They focus on the
customer experience and measure the return on marketing investment (ROMI), by showing
consumer progress along the pathway towards brand purchases and advocacy.
PAR measures how well companies convert brand awareness into brand purchases in terms
of the customer path, the transition from Aware to Act. The formula is:
To illustrate this calculation, imagine a target population of 1,000 people. After completion of
the first phase of a marketing campaign, data is collected and analyzed. The snapshot data
shows that Brand B is spontaneously recalled by 800 people, so brand awareness is 0.8 or
80%. However, out of those 800 people who noticed the brand, only 120 people actually
Purchase Action Ratio = Purchase Action
Spontaneous Awareness
JWI 518: Marketing in a Global Environment
Week 6 Lecture Notes
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JWI 518 Lecture Notes (1204) Page 5 of 7
purchase the brand, so the PAR is 120/800 or 0.15, which can also be expressed as 15%.
Next, we will calculate BAR, which measures how well companies convert brand awareness
into brand advocacy the transition from Aware to Advocate. The formula is:
To continue the example above, out of those 800 people who spontaneously recalled Brand B,
only 80 people took the step of recommending the brand to others, so the BAR is 80/800 or 0.1,
which can also be expressed as 10%.
Kotler believes that these ratio metrics, drawn from real-world customer data, can offer insightful
measures of success for marketing campaigns and identify specific areas where a new
approach may be needed. They can be used to validate expenditure on marketing campaigns
and to support proposals to the executive team about new marketing initiatives.
Lets review the example above to see how this works in practice. The initial snapshot metric of
brand awareness seemed promising, since 80% of the target audience was aware of the brand.
But the two ratio metrics give a truer picture of the real results of the campaign. PAR and BAR
scores represent progress in converting customer awareness into action. In this case, actual
purchasing and advocacy levels are quite low, since only 15% of the target audience made
purchases and only 10% recommended the brand to other people. Clearly, this marketing team
needs to modify their campaign to engage customers more actively with the brand.
Marketing Technology
Digital marketing is highly dependent on marketing technology, or Martech. Martech is simply a
reference to various software tools that marketers use to plan, execute, track, measure, and
evaluate marketing campaigns. A Martech stack is the group of technologies that marketers
use to analyze and improve their marketing across the customer lifecycle. The benefits of
marketing technology include improvement of internal collaboration, better measurement of the
impact of marketing activities, and discovery of new ways to reach customers.
Brand Advocacy Ratio = Spontaneous Advocacy
Spontaneous Awareness
JWI 518: Marketing in a Global Environment
Week 6 Lecture Notes
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JWI 518 Lecture Notes (1204) Page 6 of 7
In todays digital world, technology is fundamental to marketing. All digital marketing uses some
form of marketing technology to analyze data from marketing campaigns. If your marketing plan
includes digital elements, such as social media marketing, content marketing, email marketing,
and search engine marketing, then you need to understand Martech. If used well, Martech tools
will enable you to adjust and adapt your marketing tactics to your target customers needs and
wants faster, in order to drive sales of your companys products and services. Below is an
overview of key categories of Martech tools and examples of some of the top providers in each
category. (Gotomarketers.com):
Advertising and Promotion
Advertising platforms and tools are used to streamline paid ad efforts across search engine
marketing campaigns, as well as social media advertising and programmatic advertising.
SEM
Search engine marketing (SEM) is the process of gaining website traffic by purchasing ads
on search engines. SEM tools are used to research keywords, monitor competition and
manage campaigns. Examples include Google Ads, Microsoft Advertising, and SEMrush.
Social Media Advertising
Social media advertising tools are similar to SEM tools, but they are designed specifically to
help marketers manage social media ads. Examples include the Facebook Ads
Manager app (for iOS and Android), StitcherAds, and AdEspresso.
Programmatic Advertising
Programmatic advertising involves the process of buying ads by managing bid rates,
allocating budgets, negotiating prices, etc. Instead of leaving ad buying to humans, Martech
tools use Artificial Intelligence (AI) to manage the process. This enables automated buying
and selling of online ads, as well as automated targeting of specific audience segments.
Examples include SmartyAds, Simpli.fi. and AdRoll.
Social Media Marketing
Social media marketing connects your audience and promotes your brand across social media
channels, such as Facebook, LinkedIn, Twitter, Pinterest, Instagram, etc. Martech tools are
essential in social media marketing for managing and scheduling campaigns, tracking your
conversations on social platforms, and tapping into the power of influencer marketing.
JWI 518: Marketing in a Global Environment
Week 6 Lecture Notes
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JWI 518 Lecture Notes (1204) Page 7 of 7
Social Media Management Tools
These are designed to automate scheduling and message posting, as well as to provide
analytics for campaigns. Examples include Hootsuite, Buffer, and Sprout Social.
Social Media Monitoring Tools
These help marketers track all the brands interactions with prospects and customers on
social networks. They also track the competition and monitor industry trends. Examples
include Brandwatch Analytics, TweetReach, and Digimind.
The use of Martech tools is essential in digital marketing. It can significantly impact the way
marketers connect with their targeted audience. It enables marketers to act and react quickly,
based on behavioral insights from in-depth data analysis. As a result, they can influence the
buyers journey from awareness to purchase to advocacy, and ultimately, drive revenue growth.
Looking Ahead
In this lecture, we covered the use of Key Performance Indicators, both in terms of traditional
metrics and newer digital metrics. We explored two new metrics in ratio format, PAR and BAR,
that are designed to measure the progress of consumers along the customer path from brand
awareness to purchasing and advocacy. You learned about the impact of social media
marketing and explored the benefits of using todays powerful marketing technology tools to
collect and analyze digital data.
In the next lecture, we cover the concept of branding, examining the challenges marketers face
in their quest to differentiate their product or service from similar offerings in a crowded and
busy digital marketplace. You will explore how marketers design their branding campaigns in
the era of digital messaging and social media. You will also learn how modern brands use
human attributes to create a strong, personalized connection with consumers, and how
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JWI 518 MARTECH Notes (1204) Page 1 of 3
MARTECH A DEEPER DIVE INTO MARKETING TECHNOLOGY
What Is Martech?
Digital marketing is highly dependent on Marketing Technology, or Martech, for short.
Martech is simply a reference to various software tools that marketers use to plan, execute,
track, measure, and analyze marketing campaigns. In this set of notes, we will explore the top
Martech platforms and tools to provide a brief introduction to the topic.
For a start, it is important to understand why Martech is critical to marketing success. In todays
digital world, technology is fundamental to marketing. All marketing in a digital environment uses
some form of marketing technology stack to analyze the data that is generated from marketing
campaigns. A marketing technology stack simply refers to a group of technologies that
marketers use to manage and improve their marketing activities.
If your marketing plan includes digital approaches such as social media marketing, content
marketing, email marketing, or search engine marketing, then you need to know about Martech.
It will provide you with the data that you need to adjust and adapt your tactics, so as to identify
your target customers. It will also help you to align your messaging to your target customers
needs and wants, in order to drive sales of your companys products and services.
According to research from the marketing technology website, chiefmartec.com, there are 7,040
individual marketing technology solutions available to marketers. Luckily, you do not need to
know all 7000+ solutions! However, most successful marketing teams at modern companies do
invest in specific, must-have Martech tools.
Key Categories and Providers of Martech
Here is an overview of the key categories of Martech tools, with the names of some of the top
providers in each category. This information is taken from the website, gotomarketers.com.
Advertising and Promotion
Advertising platforms and tools are a crucial element of the Martech stack. They are used to
streamline paid advertising efforts in search engine marketing (SEM) campaigns, social media
ads, and programmatic advertising using automation tools.
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JWI 518 MARTECH Notes (1204) Page 2 of 3
SEM is the process of gaining website traffic by purchasing ads on search engines. SEM
tools are used to research keywords, monitor competition and manage campaigns.
Providers include Google Ads, Microsoft Advertising and SEMrush.
Social media advertising tools are similar to SEM tools, but they are designed to help
marketers manage social media ads specifically. Providers include the Facebook Ads
Manager app (for iOS and Android), StitcherAds and AdEspresso.
Programmatic advertising is a fast-growing industry. Traditionally the whole ad-buying
process managing bid rates, allocating budgets, negotiating prices, etc. was
managed by humans. In programmatic advertising, Artificial Intelligence (AI) is put in
charge. Essentially, these tools enable the automated buying and selling of online
advertising, as well as automated targeting of specific audiences and demographics.
Providers include SmartyAds, Simpli.fi. and AdRoll.
Content Marketing
According to the Content Marketing Institute (CMI), Content marketing is a strategic marketing
approach focused on creating and distributing valuable, relevant, and consistent content to
attract and retain a clearly defined audience and, ultimately, to drive profitable customer
action. There is a range of crucial technologies in this area, including content management
systems (CMS), search engine optimization (SEO) tools, landing page tools, and marketing
automation and lead management platforms.
CMS are essential systems for publishing content on the Web and they are used to host an
organizations website or blog, as well as to write, edit, and publish their content.
Providers include WordPress, SilverStripe and Drupal.
SEO tools are used to rank your website higher in search engine results pages (SERPs),
improve its status, and generate more traffic. These tools gather data on keywords and
competitors, conduct SEO site audits, and provide backlink analyses. Providers
include Moz, Ubbersuggest, Google Search Console and Keyword Planner.
Landing page tools enable you to build landing pages quickly and easily often with a
drag-and-drop interface. They usually provide A/B testing functionality, allowing you to
test which version of the landing page generates the most favorable results. Providers
include Unbounce, Instapage and Landingi.
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JWI 518 MARTECH Notes (1204) Page 3 of 3
Marketing Automation tools and platforms enable digital marketers to automate various
marketing tasks, helping them to communicate with the right leads at the right time
including on mobile. Marketing automation is a broad category, so the providers below
are separated into the sub-categories of email marketing, mobile marketing, and more
generalized marketing automation:
Marketing automation software: HubSpot, Marketo, Pardot, Eloqua
Email marketing tools: MailChimp, GetResponse, Campaigner
Mobile marketing platforms: LeanPlum, CleverTap, Swrve
Social Media Marketing
Social media marketing connects your audience and promotes your brand across social media
channels, including Facebook, LinkedIn, Twitter, Pinterest, Instagram, etc. Social media
Martech tools are valuable in managing and scheduling campaigns, tracking conversations with
consumers on social media, and tapping into the power of influencer marketing.
Social media management tools are designed to automate scheduling and posting and to
provide analytics for campaigns. Providers include Hootsuite, Buffer and Sprout Social.
Social media monitoring tools help marketers track all interactions with prospects and
customers on social networks. These tools also track the competition and industry
trends. Providers include Brandwatch Analytics, TweetReach and Digimind.
Influencer marketing is the process of gaining endorsements from industry influencers
i.e., people and organizations who are considered industry authorities and have a large
influence in their respective fields. Influencer marketing tools are designed to help you
find and connect with these thought leaders and influencers. Providers include
BuzzStream, NinjaOutreach, BuzzSumo and FollowerWonk.
The use of Martech tools is essential for success in digital marketing. The implementation of the
right mix of tools from the technology providers described above can have a significant impact
on the way your marketing team connects with their target audience. Martech tools enable you
to move quickly and effectively, to influence the consumers buying journey, from awareness to
purchase to advocacy, through key behavioral insights based on data analysis.
