|Module / ECTS / Path / Specialisation||Module :Digital strategy : 15 ECTS.|
|Discipline||Sales and Marketing|
|Open for visitors||yes (3 ECTS)|
|Working language :||English|
|Volume of contact hours :||20 h|
|Workload to be expected by the student :||60 h|
Track : Attendance
Online marketing efforts account today for the major part of the companies’ marketing spends and is estimated to outperform TV in the near future. The Internet opens up many new ways to communicate with potential, current, and former customers. The new media landscape integrates owned, paid, and earned media channels and requires an understanding of marketing communications as conversations: only when the marketers’ communication efforts are interesting, timely, and relevant, consumers will hear and listen to them. Furthermore, earned media – where the customer becomes the channel – means that individuals can amplify the scope of marketing communications by forwarding and sharing messages with peers. Finally, various online platforms enable customers to talk back – a situation that requires marketers to listen in order to improve their efforts.
According to the 2015 IBM Global C-Suite Study, major challenges with regards to the firms’ digital environments – such as data explosion, social media, ROI accountability – were identified and marketers today feel still widely underprepared to face those challenges. The course module discusses the concepts of owned, paid, and earned media, and introduces a number of performance indicators to efficiently and effectively measure and manage the firm’s digital marketing and communication efforts. The discussed concepts are applied through several in-class case studies and group exercises. Consequently, the course aims to train future marketers to become educated consumers of information provided by the firm’s IT department (big data, retargeting) and to prepare effective reporting and dashboards for company-wide use.
- Identify some of the latest academic research on discussed topics
- Explain the concepts and strategies of owned, paid, and earned media
- Infer insights from big data through social network analysis (SNA)
- Apply the concepts through several in-class case studies and the analysis of a real-life case study
- Prepare leading metrics and KPIs for analytics dashboards to improve decisions and profits
- Calculate the importance of the metrics, marketers use to measure media performance
- Evaluate the importance of the metrics, marketers use to measure media performance
1. Introduction: New Media, Big Data, and Marketing Analytics
1.1 Major challenges for marketers
1.2 Recap on new media types
1.3 Big data: more, messy, and useful?
1.4 Metrics and analytics: a need for marketing accountability 1.5 Outline: Bringing it all together
2. Owned, Paid, Earned: Understanding and Performance Measurement and Management
2.1 Owned media
2.2 Paid media
2.3 Earned media
2.4 Cross media effects: Latest insights
3. Dashboards: Building a Comprehensive Marketing Analytics Framework
3.1 The why and what of (digital) marketing analytics dashboards
3.2 Selecting leading performance indicators
3.3 Examples of effective dashboards
4. Conclusion: Outlook on Future Challenges
This is a master-level course. Attending students should have a robust understanding of the main marketing principles and master the intermediate functions of MS Excel.
• STRAUSS, J. & FROST, R. (2014), E-Marketing, Seventh edition, Pearson, Harlow, England.
• CHAFFEY, D. & SMITH, P.R. (2013), Emarketing Excellence - Planning and Optimizing Your Digital Marketing, 4th edition, Routledge, New York, NY. Marketing analytics and digital marketing metrics:
• BENDLE, N.T., FARRIS, P.W., PFEIFER, P.E., & REIBSTEIN, D.J. (2016). Marketing Metrics - The Definitive Guide to Measuring Marketing Performance. Third edition, Upper Saddle River, Pearson.
• FLORÈS, L. (2014), How to Measure Digital Marketing - Metrics for Assessing Impact and Designing Success, Palgrave Macmillan, Basingstoke, England.
• JEFFEREY, M. (2010): Data-Driven Marketing - The 15 Metrics Everyone in Marketing Should Know. Hoboken, John Wiley & Sons.
• PAUWELS, K. (2014), It’s Not the Size of the Data - It’s How You Use it: Smarter Marketing with Analytics and Dashboards, AMACOM, New York, NY.
• VENKATESAN, R., FARRIS, P., & WILCOX, R.T. (2014): Cutting-Edge Marketing Analytics - Real World Cases and Data Sets for Hands On Learning, Upper Saddle River, Pearson.
Such behaviors as...
... may lead to expulsion from classes.