MARKETING ANALYTICS
When analyzing a marketing case, this step must always come first before generating alternatives or conducting analysis.
What is "Define The Problem"?
This type of metric is predictive in nature and is used to forecast future results.
For example, tracking website visit time to predict form submissions
What are Leading Metrics?
This type of segmentation divides customers based on variables like age, gender, and income.
What is Demographic Segmentation?
In experimental design, this process ensures that each participant has an equal chance of being assigned to any treatment condition.
What is Randomization?
In Qualtrics, this Survey Flow element ensures that each respondent only sees one version of Ad Variant A or B, preventing exposure bias.
What is a Randomizer?
This tool helps marketers compare multiple options by assigning weights to different decision criteria.
What is the Weighted Decision Matrix?
These metrics offer deep insight into how others feel or talk about your brand, often derived from open-ended feedback like ‘3 words to describe me.’ But they’re time-consuming to gather and interpret.
What are Qualitative Metrics?
A detailed, semi-fictional representation of a company’s ideal customer based on data and insight is known as this.
What is a Customer Persona?
This type of variable is intentionally manipulated by the researcher to determine its effect on another variable.
What is the Independent Variable (IV)?
To automatically record whether a participant saw Ad A or Ad B, researchers add this field type in the Survey Flow and later export it for analysis.
(DOUBLE POINT)
What is Embedded Data?
This type of marketing analytics answers the question “What should I do?” by recommending optimal actions.
What is Prescriptive Analytics?
This type of metric is considered credible and useful for evaluating real-world impact, but it often appears too late to fix ongoing problems. An example is receiving a job offer weeks after a campaign.
What are Lagging Metrics?
This process follows segmentation and involves selecting which groups the company should focus on serving.
What is Targeting?
In this experimental design, each participant experiences all variants of the independent variable. For example, participants watch two different ads and indicate which one they prefer.
What is a Within-Subjects Design?
This Qualtrics feature allows you to show follow-up questions only if respondents meet specific conditions, such as answering “Yes” to previous question.
What is Display Logic?
A marketing team uses KPIs like total sales, click-through rates, and customer acquisition cost to create a monthly performance summary. This activity falls under which type of analytics?
What is Descriptive Analytics?
You receive frequent DMs from people asking for collaboration opportunities, and your comment section is consistently active. Based on these indicators, which branding goal are you successfully addressing?
What is Engagement Metrics?
The final step after segmentation and targeting, this concept defines how a company wants its target customers to perceive its brand.
What is Positioning?
A potential problem in the design where participants experience all conditions is that performance in later conditions may be influenced by earlier ones; researchers often counter this with counterbalancing.
(DOUBLE POINT)
What is the Order Effect in a within-subjects design?
A study requires that participants cannot skip a “Yes/No” question about clicking the ad. The researcher must activate this setting to enforce completion.
What is Force Response (or Response Requirement)?
When marketers investigate why a campaign underperformed by comparing conversion data across channels, they are using this type of analytics.
What is Diagnostic Analytics?
You receive a direct message asking, after a recent campaign.
Can we discuss potential collaboration?
Identify the Branding Goal from the Metric example?
(DOUBLE POINT)
What is Conversion?
When the firm focuses on serving a single, narrowly defined market segment.
(DOUBLE POINT)
What is Niche Marketing?
A company wants to test two new marketing emails. Group A receives Email 1, and Group B receives Email 2. Only one email is shown per participant, and the company compares open rates between groups. This design illustrates this.
What is a Between-Subjects Design?
In an ad test, a researcher wants to reduce order effects by randomizing the order of answer choices like “Exciting,” “Trustworthy,” “Modern.” They can activate this setting on the question’s options tab.
(DOUBLE POINT)
What is Answer Choice Randomization?