Week Two Lesson B

 Understanding Digital Media

Know Your Target: New Ways to Identify & Reach Target Consumers

assume product development done
assume competitive anaylisis indentify ideal customer segmentation

1- know your target audience to underestand your audience and which social media you have to develop

the better you know your target audience the more effective your communication strategies will be
example mobile 32 giga (Galaxy A30) at ~ $150 >> audience type
mobile 64 giga (Samsung Galaxy A70) at ~$300 >>>> different audience type
for example
on old marketing >>company A spends $200K for advertizing on tv, boards, radio and Magazines, with 30% increase on revenue
with new digital marketing and the tools available the company spending x amount of money will understand
1- demographics
2- age
3- best time to run the ads

Marketing funnel
but with the new marketing tools and Big Data
1- predictive analytics
2- behavioral targeting

marketers can find and precisely target customers (leads) with strong purchase intention and skip the old marketing Funnel

advertising

1-Banner on top >> use to be effective, now with research this has changed that users become blind to it (banner blindness)
2-rich media ads >>> animated and interactive
3-overlays >> little banners on youtube videos >>> advantages but also disadvanatges
4- Interstitials or popup ads >>> heavily interrupts viewer experience
5- videos inrol and instream video ads (grammarly ads on youtube) like tv ads

Adbloking >> 30% internet users now have it, this made necessary to change marketing advertising to new systems.>>> native ads

bitly.com >>> short url with lots of information, location, browser, time .

Paid ads Models
1- CPMP cost per 1000 impressions, m means 1000 in Roman numeral
2-CPC or PPC >> cost per click
3- CPA >> cost per aquisition or action, requires click on the ad and then an action, purchase or contcat information, your site must have a thank you page

the best is of course CPA, but it is more expensive
CTR click trough rate on search ads is about 2% but on with banner ads is about 0.35%
so if one comapny pays at $2 per CPMP at a cost $1000000 would be 500.000.000 which if then 0.35 % click will be 1750000 impressions, if 2.35%
conversion rate, would be over 40000 buys meaning $25 price for each. >> expensive

paid search ads 2%
CTR on display advertising banner ads is 0.35%

>>> without a clear advertising strategy it can be costly and wasteful.

Trends

amazon for product search engine
AI digital assistance like amazon alexa, google assistant and apple sire
Marketing people must follow this new trends to stay relevant

Finally CRM >>> Customer relationship management (marketing automation) is one of many different approaches that allow for a company to manage and analyse its own interactions with its past, current and potential customers.

Links

https://bitly.com/  

short URL plus some stats

https://www.canva.com/ high quality graphics for social media posts.