Base Marketing Definitions
The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing refers to activities undertaken by a company to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses.
A marketing arrangement by which an online retailer pays commission to an external website for traffic or sales generated from its referrals.
Direct marketing is an advertising strategy that relies on the individual distribution of a sales pitch to potential customers. Mail, email, and texting are among the delivery systems used. It is called direct marketing because it generally eliminates the middleman such as advertising media.
Digital marketing is the use of the internet, mobile devices, social media, search engines, and other channels to reach consumers.
Email marketing is the act of sending a commercial message, typically to a group of people, using email.
SMS Marketing is sending promotional campaigns or transactional messages for marketing purposes using text messages (SMS). These messages are mostly meant to communicate time-sensitive offers, updates, and alerts to people who have consented to receive these messages from your business.
USSD MARKETING CAMPAIGNS USSD stands for “Unstructured Supplementary Service Data” and is used to transmit information at low cost across a huge spectrum of mobile phones
Click 2 Call/ Receive a Call
Whenever Visitor clicks on a button called Click to Call. The person will immediately get a call or it can also work vice versa.
Video marketing is using videos to promote and market your product or service, increase engagement on your digital and social channels, educate your consumers and customers, and reach your audience with a new medium
Social Media Marketing
Social media marketing is the use of social media websites and social networks to market a company's products and service
Surrogate marketing is a form of marketing to promote illegal or banned products in a legal way, in disguise of other products. Duplication brand image of one product extensively, in order to promote another product of the same brand.
Data is a set of values of subjects with respect to qualitative or quantitative variables. Data as a general concept refers to the fact that some existing information or knowledge is represented or coded in some form suitable for better usage or processing
The action of measuring something is called Measurement.
A series of operations intended to achieve a goal, confined to a particular area, or involving a specified type of action. Sending a communication about the Company’s Products, Services, Projects etc through bulk emails, SMS, push notifications, widgets etc.
An audience is a group of people who participate in a show
A person visiting somewhere is a visitor. A website visitor is someone who views/goes to your website
Online is an activity performed while on the Internet, such as online shopping. It means while connected to a computer or internet
Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.
A website is a page or collection of pages on the World Wide Web that contains specific information which was all provided by one person or entity and traces back to a common Uniform Resource Locator
In online marketing, a shopping cart is a piece of e-commerce software on a web server that allows visitors to an Internet site to select items for eventual purchase. The software allows online shopping customers to accumulate a list of items for purchase
Wish lists are collections of desired products saved by customers to their user account, signifying interest without immediate intent to purchase. The Wish List function serves as a way for your customers to select and track their desired items for purchase at a later date.
The percentage of visitors to a particular website who navigate away from the site after viewing only one page
The Goal Path report is report which lists the URL paths used to reach goal pages and shows the number of conversions that each path represents
A representation of data in the form of a map or diagram in which data values are represented as colours. Heatmaps can be used to show where users have clicked on a page, how far they have scrolled down a page, or used to display the results
The unknown visitor on the website in anonymous visitor
A visitor that has made at least one previous visit. The period between the last and current visit is called visitor recency and is measured in days.
Definitions relative to Digital Marketing
- One-to-one marketing is a marketing strategy emphasizing personalized interactions with customers.
- One-to-one marketing seeks to reinvest marketing with the personal touch absent from many modern business interactions.
e.g.- In the past, for example, proprietors of a general store would naturally take a one-to-one approach, remembering details about each customer's preferences and characteristics and using that knowledge to provide better service.
It Is the implementation of a strategy by which Businesses deliver individualized content to recipients through data collection, analysis, and the use of customer state.
- Recommendation is considered as one of the key personalization aspects, which attributes to great relevance in the browsing experience and allows the marketer to create greater visibility to associated products or services.
- This model is applied to enable real-time engagement automation by using scores set by marketers to estimate/predict customer behavior.
- Plumb5 offers a recommendation widget, which can recommend products to the browsing visitor, based on both individual and global parameters.
- This allows the marketer to recommend either based on context of the current session, or based on past data.
Real Time Analytics
Real-time analytics is the capacity to use data and related resources for analysis as soon as the data becomes available. Users get insights or can draw conclusions once data enters the system.
Real Time Measurement
- The objective of any marketing strategy is to learn and do better the next time.
- Plumb5 allows you to automatically turn insights into input data.
- It not only triggers engagements and analyzes data, it also collects responses and reactions to add to the dataset.
- The ability to recognize and interact with customers at the speed and cadence that matters to them.
- It involves providing contextually relevant interactions and messages that foster a deeper connection between customers and brands.
- Data patterns are memory states of a single individual.
- They are important for predicting recommendations or probable next actions based on profiles.
- Behavioral journey is a model that helps marketers outline the story of a customer's experience (from the first interaction with their business) to a long-term relationship.
- It is non-linear, meaning that the actions overlap and repeat until the final purchase decision, rather than following successively.
The process of ingesting data from various touch points and combining them into a single source by performing transformations, integrations, deduplications, and maintaining data quality.
In omnichannel, the customer is at the center, we track all the behavior around it and engage them in real time through all touch points.
Customer State Machine
- Customer state machine is designed to automate customer centric processes and interactions.
- It understands the state of the customer (by computing customer stages, behavior and interactions), looks at a rule book to perform the next action (personalized message) and collects responses to update the behavior.
5 stages of Customer Journey
- Repeat Customer
- Profitable customer
Single Source of Truth
- A data storage principle to always source a particular piece of information from one place.
- It is the practice of structuring information models and associated data schema such that every data element is mastered in only one place.
Single Customer View
- It is an aggregated, consistent and holistic representation of the data held by an organization about its customers that can be viewed in one place.
- The advantage to a Business of attaining this unified view comes from the ability it gives to analyze past behavior in order to better target and personalize future customer interactions.
- The activities a Business uses to increase the likelihood of a customer purchasing again, while focusing on increasing the profitability of each repeat purchase.
- It is a shift in focusing only on the acquisition of countless new customers, to also focusing on the profitability of those you already have.
It is a technique where a Business induces the customer to purchase more expensive items, upgrades or other add-ons in an attempt to make a more profitable sale. While it usually involves marketing more services or products to maximize the profit.
Cross-selling identifies products that satisfy additional, complementary needs that are unfulfilled by the original item.
Visitor frequency refers to the number of times that the same people visit a particular touchpoint repeatedly within a period.
- Above the line marketing includes mass marketing strategies which are largely untargeted and are focused on building the brand.
- Conversions are given less importance in above the line advertising.
- Below the line marketing includes direct marketing strategies directed to specific target groups and individuals.
- focused on conversions rather than building the brand.
- It is a technique that is useful in predicting or estimating an outcome. This is done by applying scores to covariates (independent variable) which may be of direct interest or it may be an interacting variable.
- In Plumb5, this model is applied to enable real-time engagement automation by using scores set by marketers to estimate/predict customer behavior.
- These predictions can, in turn, trigger personalized engagements.
- Weights are used for scoring, where attributes of a customer are assigned a weight and a lead score is derived from this.
- The weights for these attributes are set by the Business.
Plumb5 is built with a rules engine, which can be customized with new conditions, allowing businesses to manage states, scores and triggers. Based on rules or scores, data is automatically segmented and label led for the automation
- Cohort refers to specific experiences, events or other factors shared by a group of consumers.
- These cohorts are used to identify and target segments, although they may fit into other models, are more effectively grouped and treated as one.