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Digital Marketing Lecture 1 (Combine Direct marketing and Database…
Digital Marketing Lecture 1
Requirement
18th March Submit
Group Presentation 1hour 30%
The last day of submision, allocated 21 or 22 seminars
14th May
Report 2000 words 70%
The content
Group presentation
Rounds 1-3 simulation
Your strategies to improve metrics
Challenges and how you overcame them
How it relateds back to the customer journeys?
The content
Individual report
All rounds of simulation
Textbook:
https://myhome.cengagebrain.co.uk/cb/dashboard.htm
Reading list:
http://lib5.leeds.ac.uk/rlists/broker/?bbModuleId=201920_35922_LUBS5449M&bbListId=_7045020_1&arc=host_minerva&bbLastListId=_7045020_1
IoT: Internet of Things
Digital Disruption & Transformation
Disruption
e.g, Airbnb， uber， 5G
change, affect value proposition 改变了现有的科技，如uber和taxi的结合
Transformation
e.g. John Lewis， Amber
improve perfomance小一点转变
Direct Marketing
The process of
targeting
and generating prospects for
customer acquisition
, and
recording
individual customer responses/ transations
retain
customers with the
intention
of promoting customer relationships
Key Characteristics
Target individuals
The collection and application of individual data
Individual data about each customer, prospect , and non-customer
Relationship Marketing
Fostering interaction, customer loylty and long-term engagement
Key characteristics
Measurable results
Database Marketing
Gathering, consolidating, and processing of consumer data
Key characteristics
Data Driven
Interactive Marketing
One-to-one, that reacts and changes based on the actions of individual customers and prospects
Key characteristics
Personalized & Direct
Hirarchy of Interactive strategies
Customization
Nike customerized sneakers
Personalization
Top links for you
sth continue watching
Transaction
The same to transaction
Interaction
promotion, discount pizza
Information
Personal information form onlie
Outbound vs. Inbound Marketing
Outbound- Push Strategy
Show content to many users as possible to increase chances of reading an
interested audience
Inbound- Pull Strategy
Attract leads by providing content that is helpful for them and organically lead to engagement
The customer's Journey
Awareness: Looking at pictures of your friend's holidays on social media
Interest: Googling Greek islands
Consideration: Reviewing hotels and flights
Conversion: Purchasing with your credit card
Retention: Coming back the following year
Digital Marketing
Multi-channel
Combine Direct marketing and Database marketing
Key characteristics
Database Creation & Management
What is it and how does it work?
Repository 资料库 of all customer-related knowledge
Example. Spotify
Data Warehouse
Marketing Management
Marketing support
External
Other Business Areas
How do you use the database?
Analytical Levels
Customer Profiling
Segmentation Analysis
Predictive Modelling
Programmatic Levels
与Analytical 的一一对应
Best customer analysis/ Electronic targeting
Conversion and retention programs/ Physical world targeting
Acquision programs采购程序/ Value upgrade programs/ Electronic targeting
Traditional Marketing without Data
Attempts to cover the whole market
Direct Marketing with Data
Reaches each discrete sector independently
Database-Example
Database-Ethical issues
Cultural issues
What to do with the data? Targeted CTAs
offers with incentives 激励
sample
Free Trail
You first offer
Combine Direct Marketing & Relationship Marketing
Key charavteristics
Customer Lifetime Value
Traditional customer lifetime value calculation
= Yearly profit margin/ customer
= Customer retetion rate/ 1+ Discout rate - Customer retention rate
Ways to increase CLV
UP-selling
更高级更贵
Cross-selling
Frequently Bought Together
Price discrimination
Good customer service
Loyalty programs
Why calculate CLV?
Pareto priciple
Target customers with highest potential value
