Week 4: Measure Performance Success
Measure Performance Success INTRODUCTION
Performance marketing is rapidly becoming significant in the digital world. Digital Marketing & E-commerce Professional Certificate from google via coursera is a complete guide to performance marketing and equips someone with tools to measure performance.
The certificate has eight courses covering subjects like Google Ads, Google Analytics, Google Shopping, and Youtube Advertising. Each of the courses is planned so that it gives the students a clear knowledge about the key components of performance marketing using real-life examples and tools being used in the campaigns. By the end of the teaching program, all the students will be ready to implement their knowledge.
At the end of each course, the learner will analyze his/her performance using the critical metrics like impressions, click-through rate (CTR), cost per click (CPC), conversion rate, and return on ad spend (ROAS). Google also provides best practices to allow all learners to learn from its experience and apply the same learning in their campaigns.
Learning Outcomes
- Understand the practice and goals of performance marketing.
- Establish the relevance of data to e-commerce.
- Learn how interpretation of data can help influence different types of management decisions.
- Know the key elements of data storytelling and their significance.
TEST YOUR KNOWLEDGE: MEASURE MARKETING PERFORMANCE SUCCESS
1. Which of the following describes performance marketing?
- A set of practices designed to increase the quantity and quality of traffic to a website
- The process of identifying common search terms and phrases consumers use to find products or services online
- The process of generating traffic to a website through paid ads that appear on search engine results pages
- The process of using concrete information about customer behaviors to plan and refine marketing and sales strategies (Correct)
Correct: Performance marketing uses the user’s exact data on behaviors to devise and adjust their marketing and sales strategies. The resulting focus is on how measurable results-likes clicks, conversions, as well as other KPIs-make some sense out of campaign success and improvement.
2. Which of the following are metrics used to measure marketing performance? Select all that apply.
- Return on ad spend (ROAS) (Correct)
- Brand equity
- Marketing funnel
- Customer lifetime value (Correct)
Correct: Return on advertising spend (ROAS) and customer lifetime value (CLV) serve as critical indicators of marketing performance. ROAS reflects revenue earned for each dollar spent on advertising, while customer lifetime value outlines the average revenue expected from a customer across his or her lifetime relationship with the company. Both metrics are important and meaningful for assessing the effectiveness of any marketing strategy, measuring direct, short-term results and continuous long-term business value.
3. What is data analytics?
- The process of monitoring and evaluating data to gain actionable insights (Correct)
- The process of determining which content and channels are responsible for generating leads, conversions, or sign-ups
- The process of using concrete information about customer behaviors to plan and refine marketing and sales strategies
- The process of understanding how well a marketing strategy is meeting its goals
Correct: Data analytics is the process of collecting data and examining and interpreting it to produce valuable results from it. Some of the key functions of data analytics are data retrieval, report generation, and analysis.
4. Which of the following can be done with the data produced by performance marketing to better understand how well a marketing strategy is meeting its goals? Select all that apply.
- Reporting (Correct)
- Withholding
- Pulling (Correct)
- Analyzing (Correct)
Correct: To find out how successful a marketing strategy proves to be against its target, one can extract, report, and analyze data made by performance marketing.
TEST YOUR KNOWLEDGE: USE DATA INSIGHTS TO IMPROVE A STRATEGY
1. What is the purpose of attribution?
- To determine which touchpoints result in customer action (Correct)
- To shape customer-brand interaction
- To collect and organize data
- To convey data insights to a stakeholder audience
Correct: Attribution sources are made to discover content and channels that lead to the generation of prospects, conversions, or registrations. It gives input to an organization’s reporting in determining the most effective marketing and sales strategies.
2. When determining specific touchpoints responsible for conversion, which attribution model is most accurate?
- Data-driven attribution (Correct)
- First-click attribution
- Last-click attribution
- Linear attribution
Correct: Data-driven attribution is definitely the most appropriate technique, as it checks customers’ interactions with marketing content for different channels to identify their behaviors. This approach credits touch points considering different parameters: ads or keywords which usually bring about conversions.
3. What are the main components of data storytelling? Select three.
- Data (Correct)
- Touchpoints
- Narrative (Correct)
- Visualizations (Correct)
Correct: The three main components of data storytelling include the data, an engaging narrative and effective visualization.
4. Fill in the blank: In data storytelling, _____ context tells more about what your insights mean, why they matter to your specific audience, and what you can do about them.
- data
- narrative (Correct)
- visualization
- touchpoint
Correct: In essence, data storytelling provides context for the narrative. Such a context gives depth to your findings; tells them why it is relevant to your audience; and suggests some action steps based on that finding.
FOUNDATION OF DIGITAL MARKETING & E-COMMERCE Weekly Challenge 4
1. What aspect of marketing provides information and useful insight about customer behaviors and interactions that can help answer questions in a concrete way?
- Marketing data (Correct)
- Marketing impressions
- Marketing touchpoints
- Marketing strategies
2. Fill in the blank: The process of using concrete information about customer behaviors to plan and refine marketing and sales strategies is called _____.
- brand marketing
- narrative context
- data storytelling
- performance marketing (Correct)
3. An entry-level digital marketer is working with data. They collect the data they need from an analytics tool and put it into a spreadsheet to make it easy to access and work with. Which way of working with data does this describe?
- Data analyzing
- Data modeling
- Data reporting
- Data pulling (Correct)
4. What refers to the average revenue generated per customer over a certain period of time?
- Return on ad spend (ROAS)
- Budget attribution
- Linear attribution
- Customer lifetime value (Correct)
5. How does attribution help businesses learn which touchpoints are most effective at getting customers to take action?
- Attribution measures how successful a business is in its effort to reach a marketing goal.
- Attribution uses touchpoints to convince customers to take action right before purchase.
- Attribution determines which touchpoints are responsible for generating the leads, conversions, or sign-ups. (Correct)
- Attribution establishes strong relationships with customers.
Correct: The cost a business pays on this type of advertising is only incurred when someone clicks the ad. Each click incurs a cost called cost per click.
6. Which of the following are examples of attribution models? Select all that apply.
- Linear attribution (Correct)
- Data-driven attribution (Correct)
- Channel attribution
- First-click attribution (Correct)
7. Fill in the blank: A digital marketer uses _____ to convey insights to a specific audience using a clear and compelling narrative.
- key performance indicators
- performance marketing
- brand marketing
- data storytelling (Correct)
8. Which of the following are the main components of a data story? Select three.
- Visualizations (Correct)
- Narrative (Correct)
- Data (Correct)
- Key performance indicators
9. What are the three main components of narrative context? Select all that apply.
- What the audience can do about the insights (Correct)
- Why the insights matter to a specific audience (Correct)
- How current insights compare to past insights
- What the insights mean (Correct)
Correct: Paid social media advertising benefits include increased visibility of a brand, retargeting products, and delivering ads to very narrow customer segments.
10. What is the relationship between visualizations and the narrative in data storytelling?
- Visualizations present a collection of facts that are represented graphically in the narrative.
- Visualizations describe why specific insights should matter to an audience, and the narrative provides the raw data. (Correct)
- Visualizations support the main points of the narrative with graphical representations of data.
- Visualizations detail a story about data, and the narrative provides graphical representations of that data.
Correct: The term email marketing includes sending messages to individuals who have agreed to receive them in order to inform them, to increase sales, or to cultivate community. When such marketing is well executed, it enables brands to build and sustain a relationship with both potential and existing customers.
11. Fill in the blank: The process of determining which content and channels are responsible for generating leads, conversions, or sign-ups is called _____.
- Attribution (Correct)
- Data Analytics
- KPI
- Data Reporting
12. As an entry-level digital marketer, which of the following data analytics tasks might you be responsible for? Select all that apply.
- Modeling
- Analysis (CORRECT)
- Reporting (CORRECT)
- Pulling (CORRECT)
Correct: Correct
Correct: Correct
Correct: Correct
13. What refers to how much revenue is gained versus how much was spent?
- Budget touchpoints
- Linear budgeting
- Return on ad spend (ROAS) (CORRECT)
- Customer lifetime value
Correct: Correct
14. Which of the following are characteristics of attribution? Select all that apply.
- Influences consumer decisions by creating touchpoints designed to increase sales
- Provides detailed information about what customers are thinking about before a purchase
- Attributes success to specific marketing and sales efforts (CORRECT)
- Determines touchpoints and keywords customers interact with before taking action (CORRECT)
Correct: Correct
Correct: Correct
15. Fill in the blank: _____ measures customer engagement with marketing content across channels to understand what is motivating customers to take action.
- Data-driven attribution (CORRECT)
- Linear attribution
- Data attribution
- First-click attribution
Correct: Correct
16. When crafting a narrative, digital marketers include compelling information about the data. They address what data insights mean, why they matter, and what can be done about them for stakeholders. What is the likely impact on stakeholders? Select all that apply.
- Stakeholders are unsure what action steps can be taken.
- Stakeholders understand what actions can be taken from the data presented. (CORRECT)
- Stakeholders remain engaged in the narrative. (CORRECT)
- Stakeholders make connections between the data presented and the visualizations that represent the data. (CORRECT)
Correct: Correct
Correct: Correct
Correct: Correct
17. Fill in the blank: Information about a company’s total number of social media followers is an example of _.
- visualization
- marketing touchpoints
- data (CORRECT)
- Key performance indicators (KPIs)
Correct: Correct
18. When implemented, which of the following strategies would provide information about customer behaviors that could lead to an effective launch of a new product?
- Brand marketing
- Narrative context
- Performance marketing (CORRECT)
- Data storytelling
Correct: Correct
19. What can performance marketing help a business do? Select all that apply.
- Enhance brand credibility
- Support brand recognition
- Determine if specific marketing goals have been achieved (CORRECT)
- Refine marketing and sales strategies (CORRECT)
Correct: Correct
Correct: Correct
20. Consider the following scenario:
digital marketing team is analyzing recent sales data. They notice that customers are frequently engaging with a specific ad, but sales are low. They want to convince stakeholders to use a data-driven attribution model to understand why customers are not taking action.
What might the digital marketing team do to convince their stakeholders?
- Use data storytelling to share insights with stakeholders (CORRECT)
- Continue to monitor data, then provide stakeholders with year-end sales revenue
- Present stakeholders with a new marketing strategy
- Present stakeholders with a new line of products designed to increase sales
Correct: Correct
21. In data storytelling, how do visualizations help an audience understand what is happening in the narrative?
- Visualizations clarify trends and express relationships between data points. (CORRECT)
- Visualizations describe why specific insights should matter to an audience.
- Visualizations detail the story of data.
- Visualizations detail what actions an audience can take regarding insights.
Correct: Correct
22. Imagine that a company wants to successfully launch a new product. Which of the following would provide useful information about customer behaviors that could help the company plan and refine an effective sales strategy?
- Brand marketing
- Data storytelling
- Narrative context
- Performance marketing (CORRECT)
Correct: Correct
23. What are the three characteristics of a well-structured narrative? Select all that apply.
- Intense
- Memorable (CORRECT)
- Engaging (CORRECT)
- Persuasive (CORRECT)
Correct: Correct
Correct: Correct
Correct: Correct
24. Which of the following attribution models assigns equal credit to each touchpoint along the customer journey?
- Linear attribution (CORRECT)
- First-click attribution
- Click attribution
- Data-driven attribution
Correct: Correct
25. Imagine a digital marketer is preparing a data story to share with stakeholders. The story has three components: what its insights mean, why they matter to the audience, and what the audience can do about them.
- What aspect of data storytelling does this describe?
- Key performance indicators
- Visualizations
- Narrative context (CORRECT)
- Brand marketing
Correct: Correct
26. Which of the following are examples of data visualizations? Select all that apply.
- Data points
- Graphs and charts (CORRECT)
- Illustrations (CORRECT)
- Infographics (CORRECT)
Correct: Correct
Correct: Correct
Correct: Correct
27. Which of the following statements are true about data storytelling? Select all that apply.
- Data storytelling debuts new marketing strategies.
- Data storytelling details how to take action.
- Data storytelling explains data using graphical representations. (CORRECT)
- Data storytelling describes data. (CORRECT)
Correct: Correct
Correct: Correct
Correct: Correct
28. In what ways do digital marketers gain insights from data? Select three.
- Data modeling
- Data pulling (CORRECT)
- Data reporting (CORRECT)
- Data analysis (CORRECT)
Correct: Correct
Correct: Correct
Correct: Correct
29. Which of the following are examples of data? Select all that apply.
- A list of sales that resulted from a touchpoint (CORRECT)
- A company’s total number of social media followers (CORRECT)
- A recommendation for images to use in social media posts
- Year-end sales revenue (CORRECT)
30. Imagine that a company wants to successfully launch a new product. Which of the following processes would provide useful information about customer behaviors from measurable outcomes of marketing campaigns that could help the company plan and refine an effective sales strategy?
- Data storytelling
- Performance marketing (CORRECT)
- Narrative context
- Brand marketing
31. A marketer for a company organizes and summarizes data to track performance across marketing and sales efforts. What is this process called?
- Data reporting (CORRECT)
- Data storage
- Data pulling
- ROAS
32. Fill in the blank: The average customer encounters _____ on their purchase journey, and the path isn't always straightforward.
- few options
- one touchpoint
- no distractions
- six touchpoints (CORRECT)
33. Which of the following statements is true about data storytelling?
- A data story has three main components (CORRECT)
- You should highlight all numbers in your story
- Data visualizations consider one perspective
- A data story has one main component
34. Data, a compelling narrative, and clear visualizations work together to engage audiences by explaining insights. What does this refer to?
- A social media campaign
- Data visualizations
- ROAS
- The three main components of a data story (CORRECT)
35. What do some of the best data stories allow?
- A space for discussion (CORRECT)
- One perspective
- Complex concepts
- Multiple interpretations
36. What are data visualizations?
- A graphic representation of data that conveys information (CORRECT)
- Data points
- A narrative that conveys the insights effectively
- Pictures from a campaign
37. What do businesses use marketing data for?
- To run campaigns on different platforms
- To measure how successful a business is in its effort to reach a business or marketing goal
- To provide a clear picture of the raw numbers
- To answer questions clearly by drawing on real customer behaviors and interactions (CORRECT)
38. What is customer lifetime value?
- A business’s total number of customers
- The average revenue generated per customer over a certain period (CORRECT)
- The process a customer follows to purchase
- How much revenue is gained versus how much was spent
39. Fill in the blank: The _____ of a data story should engage your audience by explaining what you learned, and how you can use that information to take action.
- speed
- length
- one component
- three main components (CORRECT)
40. What is ROAS (return on ad spend)?
- How much revenue is gained versus how much was spent (CORRECT)
- The average revenue generated by customers over a certain period of time
- The process of using concrete information about customer behaviors
- The number of ads created by a business
41. What does attribution help businesses do?
- Make informed decisions about where to invest time, budget, and resources
- Identify the last touchpoint in a customer journey to save time, money, and effort
- Help businesses create better products for current, new, and potential customers
- Increase the number of leads at the start, middle, and end of the campaign (CORRECT)
42. A marketer gives equal credit to each touchpoint along a customer’s journey. Which attribution model did they use?
- First-touch attribution
- Linear attribution (CORRECT)
- Touch attribution
- Last-touch attribution
43. Which of the following statements is true about data storytelling?
- A data story has one main component that marketers highlight
- Everyone brings their own perspectives, experiences, and biases to data storytelling (CORRECT)
- All data storytelling conveys the same perspectives, experiences, and biases
- A marketer should highlight all numbers in the story to provide a clear overview of the results
44. Fill in the blank: Appealing to your audience with a strong _____ can draw attention to your insights and encourage others to take action.
- graph
- call to action
- case study
- Narrative (CORRECT)
45. What is performance marketing?
- Using concrete information about customer behaviors to plan and refine marketing and sales strategies. (CORRECT)
- Using digital marketing and sales tactics, campaigns, and strategies to affect customer behavior.
- Calculating how much revenue is gained versus how much was spent on potential customers.
- Calculating the average revenue generated by customers over a certain period of time.
46. What is data pulling?
- The process of examining data in order to draw conclusions, make predictions, and drive informed decision-making.
- A measurement used to gauge how successful a business is in its effort to reach a business or marketing goal.
- Organizing and summarizing data to track performance across marketing and sales efforts.
- The process of collecting data from analytics tools and putting it into a spreadsheet or database, making it easy to access and work with. (CORRECT)
47. What is attribution?
- Determining which content and channels generate leads, conversions, or sign-ups (CORRECT)
- The last touchpoint in the marketing funnel that eventually leads to a conversion
- Setting marketing and business goals that increase brand awareness
- The first touchpoint in the marketing funnel that eventually leads to a conversion
48. What do marketers use to convey insights to an audience through a clear and compelling narrative?
- Graphs
- Costumes and lighting
- Social media graphics
- Data storytelling (CORRECT)
49. A marketer is creating a data story and picks their data points and insights. What is the next step in creating a data story?
- Create data visualizations
- Build a narrative that conveys the insights effectively (CORRECT)
- Understand which questions to answer
- Select which numbers to highlight
50. Which of the following are examples of performance marketing metrics that help marketers to measure and reach their goals?
- ROAS and customer lifetime value (CORRECT)
- Likes and follows
- Newsletter signups and clicks
- Views and visits
51. Which of the following are the main components of a data story? Select three answers.
- Narrative (CORRECT)
- Data (CORRECT)
- Visualizations (CORRECT)
- Key performance indicators
52. A marketer creates graphs and illustrations to clarify trends and express relationships between data points. What is this part of a data story called?
- Narrative
- Story design
- Data
- Data visualization (CORRECT)
53. Which of the following refers to performance marketing? Select all that apply.
- It includes performance metrics like number of impressions or cost per click on paid ads (CORRECT)
- There are very few ways to measure performance
- It focuses on measurable results like clicks and conversions (CORRECT)
- Customer behavior is not important
54. What is data analysis?
- Organizing and summarizing data to track performance across marketing and sales efforts.
- A measurement used to gauge how successful a business is in its effort to reach a business or marketing goal.
- The process of collecting data from analytics tools and putting it into a spreadsheet or database, making it easy to access and work with.
- The process of examining data in order to draw conclusions, make predictions, and drive informed decision-making. (CORRECT)
55. How does a digital marketer use data storytelling?
- To explain data, engage an audience, and inform stakeholders on how to take action (CORRECT)
- To introduce stakeholders to a new line of products designed to increase sales
- To provide stakeholders with year-end sales revenue
- To present stakeholders with a new marketing strategy
56. What will help you decide which data points to use in your data story?
- Knowing the number of people who will see your data story
- Creating a narrative first
- Creating a complex goal
- Understanding the questions you want to answer (CORRECT)
57. A marketer creates charts and infographics as part of their data story. What is this component called?
- Story design
- Narrative
- Data
- Data visualization (CORRECT)
58. A marketer puts together a list of sales that resulted from a touchpoint. What is this list an example of?
- ROAS
- Marketing data (CORRECT)
- KPIs
- Visuals
59. Which of the following processes provides information about customer behaviors from measurable results of marketing campaigns that could lead to an effective launch of a new product?
- Brand marketing
- Data storytelling
- Performance marketing (CORRECT)
- Narrative context
Measure Performance success conclusion
This course has covered different aspects of performance marketing, from measurement and tracking of results and metrics to how digital marketers and e-commerce specialists use data to analyze and develop performance. It has looked into how one tells stories with data. This course has prepared you for an active engagement in job searching when you decide that this is the route you will pursue.
There is other optional material should you wish to pursue this topic further. Expand your learning on performance marketing today by joining the learning experience on Coursera.