Shopping on Multiple Devices

Shopping on My iPhone

I do more searching on my phone than buying. The only two reasons I order on my mobile device is because I cannot get to my desktop right away and will miss the sale or I am ordering from Amazon. According to OuterBox, “79% of smartphone uses have made a purchase online using their mobile device in the last 6 months,” and “80% of shoppers used a mobile phone inside of a physical store to either look up product reviews, compare prices or find alternative store locations.”

Being newly married and trying to save money, I am that person to compare prices to another store. Same with my husband. When we were at Target the other day, I was looking for a matte black hand mixer (to match my Kitchenaid mixer) and thought it was rather expensive. My husband scanned the box with the amazon app and found it a couple dollars cheaper. Well, I did a search in Google and saw that Bed Bath & Beyond was the cheapest and I could get free shipping with it. When I got home, I ordered it online with my laptop. 

Laptop vs. Mobile

I buy on my laptop majority of the time because I feel like it is easier to navigate through, check out and see the product better on my screen. When I am ordering a product through my mobile device, I am most likely ordering through my Amazon App. It’s quick and easy for me. Also, when buying the purchase, I have a good idea with what I am ordering and past the research stage in my buying process. Recently, I just purchased more plates through my mobile device at Crate & Barrel. I already have the same dishes but wanted to order more. I noticed that if I have an account/app, I tend to order on my phone. If I don’t have an account and don’t want one or the app, I will buy through my laptop and check out as a guest.

Some other purchases I make with my mobile device is through the Starbucks app and Qdoba App. I have my card linked to both apps. I love how convenient it is for them to scan my bar code and I don’t have to worry about taking my wallet out of my bag, then opening my wallet, taking out my card, give them my card, wait what feels like a century for my purchase to be “approved” and then put the card back in my wallet and back in my bag. That was a lot to type, so imagine doing that in person vs. using the app. Also, I can send my order in through the app and pick it up at a time that I choose. 

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Shopping on Multiple Devices

Chris Kelly and Natalie Koltun’s Prediction on Trends in Mobile Marking

Since 2018 is over, that means new trends are around us. Neon is coming back; biker shorts are actually a thing (thanks Kimmy) and god parents’ proposal will be the new engagement proposal. However, what are the trends going to be for mobile marketing? One thing that Chris and Natalie mention is video. This was a trend last year so, it’s not really a surprise. Video is growing. 

Mobile Video is taking over

Video is going to take the number one spot for marketers to get in front of their customer.. and if they’re not then they are showing up to the game late. According to the article: 

“The next 12 months could prove make-or-break for new players and for two big names that launched in 2018: Facebook Watch and Instagram’s IGTV. Despite Facebook’s billion-dollar investment in these platforms, they have so far underperformed.”

I have noticed that with the recent update from Facebook, they restructured their app to put Facebook Watch in the viewers hands more easily. This is huge step in the right direction. Video is the most entertaining and kind of addicting. I have a feeling Facebook Watch and IGTV is going to see an increase in views. Also, I just want to add that Facebook live was not a huge thing starting out but now you see Facebook boutiques and other companies taking advantage to engage with their consumers and potential consumers. 

What kind of video should marketers be doing?

Vlogging. It is huge right now and I think it would be a great way to get on a more personal level with consumers and humanize their company. As mentioned earlier, going live on social media and other streaming accounts. My husband is a gamer and loves watching YouTube videos and Twitch. Going live is a great way to share new products and answer consumers questions. 

TV ads are making a comeback. Just kidding. Stop wasting your money. A lot of my generation and the baby boomers are watching shows on YouTube, Hulu, HBO, Netflix and other streaming services. It’s time to start moving ads from the TV to YouTube. YouTube will be more cost efficient and will reach more people. 

5G is opening up endless possibilities

5G is already being be introduced this year. Verizon has made 5G available in certain cities. New phones are already about to be launched with it too, but you may not see Apple jumping on the wagon yet. This new type of speed will open up doors and more data for marketers

I agree with the article 6 trends that will shape mobile marketing in 2019. I am really interested in how marketers are going to get their products in front of customers when consumers are using artificial intelligence like Amazon echo and Google home. 

Chris Kelly and Natalie Koltun’s Prediction on Trends in Mobile Marking

Amazon App vs. Walmart App

            Since I already have the Amazon app on my phone, I decided to download the Walmart app to compare them and differentiate them. Both apps are the two most popular for e-commerce. First, let’s start with the amazon app.

Amazon

Image result for Amazon app

In 2015, Amazon offered its consumers a mobile referral program. Every time a current app user shared the amazon app and they downloaded it, both the referee and the referrer received $5 reward for their site. Amazon changed the game and was able to rank the app higher. As of 2018, Amazon is considered part of the top 10 most popular apps.  

I am an avid user with Amazon’s app. I am able to search three or more different ways for products that I want. I can type in the search query, use the voice recognition or I can scan things around me and see if Amazon has it! Sometimes, when I am at the store, I will use this to see if it is cheaper on Amazon (which isn’t always the case.) There are lots of features on the app that make it user friendly. If I want to save an item to look at later, all I do is press on it and drag it to the bottom of my screen. I am still debating if this is creepy or not, but Amazon keeps track of my purchases. If I am looking to buy something again, I can click buy again and find my purchase. 

With my account, I receive daily emails and push notifications. 

However, there are some things I don’t like. They have lots of advertisements for their own stuff. Another thing is, this app is so stuffed and busy. On the home page, I can scroll for days (aggerating of course) just to get to the bottom of the app. Being a prime member has so many advantages. I get free-fast shipping, access to music and videos. 

Walmart

When Walmart released their app in 2014, they had over 10 million app downloads within a week of the release date. This app was their Savings Catcher app, which is now a part of their Walmart app. Their customers were able to scan barcodes on items for savings and to compare prices. To this day, the app still allows you to do so. Kind of like Amazon, you can search by query, voice search or scan code.

I really like how Walmart has a section for their services. You have your savings catcher, Walmart pay, store finder, pharmacy, photo, grocery, starting a return and more. Having this app with all these features is actually really nice and benefits their customers. For example, their pharmacy service. If I needed to refill my prescription, I can do it straight from the app. They send notifications when the prescription is ready.

Personally, I have never used the Walmart app but I like it! It is very clean and not so overwhelming. 

Walmart vs. Amazon

Both apps are very similar to each other. They both try to engage and meet their customers needs. They are trying to provide an effortless experience. It’s really hard to choose which app which is superior. They both provide different services. However, when it comes to engagement, it’s the same. 

Amazon App vs. Walmart App

Artificial Intelligence

            In Chapter 10 of the Stukent text book, we start to learn the abilities of artificial intelligence. Artificial intelligence can be split into two pieces, machine learning and deep learning. Stukent provides an Expert Session that talks about how artificial intelligence impacts marketing. You can watch this video in the text book, on their site, or via podcast. 

Speaker Jim Sterne published his 12thbook on Artificial Intelligence for Marketing: Practical Applications. I would say he is reliable source when it comes to this. Jim speaks on machine learning and how it has been around for a long time.  

So, what is machine learning?

Jim describes machine learning as, “instead of giving the machine exact instructions on what to do, we tell it how to interpret and we give it the authority and ability to change its mind when new information comes in.” There are three different types of machine learning:

  • Supervised: You know the right answer. The machine needs many examples of labeled data. 
  • Unsupervised: You don’t know the right answer, but you want the machine to find patterns in unlabeled data. (Really good for categorization)
  • Reinforcement: You are not sure what the right answer is. Give the machine the ability to figure it. 

Well, how does it work?

            Machine learning is made up of algorithms. They are decision trees/ random forest, support vector machines, neural nets / deep learning and ensemble. Ensemble is all of the algorithms combined. This allows machine learning to choose, which one is best. Now that we have some kind of idea on how it works, it’s important to know what it is good at. It is good for high dimensionality and high cardinality. To be honest, I have no clue what that means. Jim says that dimensionality means attributes per object and cardinality is options per attribute. Still lost? Me too. It’s basically attributes that this person has in their system. Machine learning is good at knowing it and storing it and turning it into data. Our brains would not be able to do this. The machine is able to store big data, it’s quick, accurate, cost efficient and has zero attitude. On the other hand, it does not show emotion, empathy and common sense. 

We are already seeing artificial intelligence without even realizing it. For example, Gmail. When we are writing an email, Google can predict the ending of our sentence or the beginning. This makes it faster to write up a response. Let’s think about Alexa. You can say “Alexa, order me more toilet paper.” Well, when your account is updated, Alexa will do so. Alexa could order past toilet paper you used or buy you a different brand. This is AI. This is now something marketers have to get in front of and make sure their brand is being recognized. 

Below I added the video from the expert session:

Final Thoughts

About to graduate and knowing that artificial intelligence is on the rise is kind of scary. I honestly don’t know what to expect with it and feel that this is something that I need to educate myself further on. It is really important to try and get ahead of your competitor or stay beside them when engaging with customers and potential customers. 

Artificial Intelligence

Marketing Mix Model

            Throughout my schooling at NWTC, our instructors have sure drilled into our heads what the marketing mix is. In case you forgot, the marketing mix is basically the core principle of marketing. This is how you market a new product or service. It is made up of the four P’s; product, place, price and promotion. Now, we need to tie up loose ends and figure out how marking analytic people analyze this type of marketing effectiveness. 

Marketing Mix Model

According to the book, the marketing mix is “the starting place for marketing analytics professionals who want to apply statistical model to data.” Statistical model is a “formal representation of a theory.” Basically, we get to test a theory about how the marketing mix relates to marketing outcome. The marketing mix model uses the regression technique.

Simple Linear Regression

This is a statistical process that relates the marketing outcome variable, y, as a linear function of a single marketing mix variable, x. We identify y as a marketing outcome variable, but we may find others referring to it as a dependent variable or response variable because it depends on or responds to another variable.

When the time comes to evaluate the success of the model, you will use something called R2. R2 is the proportion of the variability in the Y that is explained by the model. 

Moderation in the Marketing Mix Model

The model is accomplished by adding an interaction term to the model. This is the multiplication of two variables. 

                                y = b0 + b1X + b2M + b3(XM) + ε

Overall, I am so glad there are so many tools out there for analytics. This stuff is just over my head. 

Marketing Mix Model

Marketing Analytics

Now that we are gearing towards the end of the book and getting all the background information, let’s dive into marketing analytics. Marketing analytics is a continuous function of measuring results of campaigns. In order to analyze something, we need to come up with a strategy and a campaign. 

Managing Marketing Analytics

When figuring out the campaign, the first stage is coming up with a design. You will begin to conduct exploratory research. The book provides an example of the kind of research that could be conducted. 

“the first step can be to analyze web behavior flow (i.e., visit counts, patterns and clicks) to determine whether people are going where the team wants them to go and how the websites can be optimized to drive more conversions. Social media analytics can also help, especially analytics that measure engagement, such as how many impressions posts received and how many likes, shares and comments they received. Based on the reaction to each piece of content, whether a web page, print marketing or a social media post, the team forms hypotheses about which strategies work well with audiences and which do not.”

When implementing a campaign, it is important to do everything in your will power to make sure it becomes successful. A/B test are useful tools to help during this process. You want to make there that there are continuously monitoring results of the A/B test. 

To complete the circle, it is time to evaluate. Remember those goals that you set up in the beginning? Now it is time to see if those goals were met and if not, figure out what went wrong and how to improve it. This phase is huge for marketing analytics. 

Let’s talk about metrics. Metrics indicate the priorities of the company and provide an overview on performance, standards and ambition. There are a lot of metrics to be aware of. One of them is digital marketing metrics. This is the measurement of success of marketing efforts in digital media environment. Below is an image of things that are measured within the metric.

Another metric is KPI, known as key performance indicator. Many firms find that conversion rate is a key performance indicator because it measures the portion of the campaign recipients who make it through to the end to buy the firms product. 

Final thoughts

Marketing Analytics is really not important. Just kidding. It is. It measures the market, brand, customer and product performance. Because of this, it helps ensure the success of the campaign cycle. A lot of money can be thrown out the window if this wasn’t in place. 

At the end of the chapter the book gave some helpful advice that we all should take away from. 

“First, remember that data is not perfect, as it is often is dirty in raw form and must be cleaned; do not skip this step, however tedious it might be. 

Second, always double check the work after analyzing results; retraction damages reputations, which are fragile when it comes to trusting that the marketing analytics professional does not generally make significant mistakes. 

Third, when generating results, keep them as simple as possible; format in a way that people will easily understand.

Fourth, when presenting the data, always tell them the source and process of the information that you provide; if you dropped outliers or changed the data during cleaning, make this clear upfront. 

Fifth, use data visualization; most people aren’t as excited as we are about all of that R output.

Finally, never take data for granted; it should always be questioned.”

Marketing Analytics

Exploring The Glossary

In Chapter 6, we learn about social listening tools, general marketing data tools/sources, data craping and content analysis tools, which all provide a unique advantage to marketing analytics gurus in the digital age. If you didn’t read the chapter, I will define some of these things I mentioned.

Social Listening 

Social listening is defined as an examination of consumer data from social media networks. Every company wants to make sure that they have a solid reputation on and off social media. In order to keep your brand name sacred, its vital to continuously track different social media channels. Social listening could get confused with social monitoring. These two things are different. Social listening is trying to find the root cause behind conversations and implement long-term strategy changes. When we listen to our followers/audience we are able to give them what they are asking for. This ranges from content to coming up with new product ideas. For example, there is a site called Built Bar. This site sells protein bars. As they continue to grow, they continue to put new products out there. They came up with a banana crème flavor that people were begging for on their social media accounts. By listening to your audience, you begin to build a deeper relationship with them. You are satisfying the customer needs. 

Are there tools to help with Social Listening?

Of course! Some popular social listening tools are Sprout Social, Hootsuite and HubSpot! Also, many social media platforms offer their own analytics. 

It is important to grab a variety of data and then make it mean something. Data scraping is one of the tools where it extracts large amounts of data from websites. Here are some potential reasons someone may use this technique:

  • Research for web content
  • Prices for travel booker sites/price comparison sites
  • Discovering sale leads and conducting market research
  • Sending product data from an e-commerce site to another online vendor.

Here is a video on how to import data from the web to excel:

Glossary Provides You Key Information

Exploring The GlossaryIt is really important to look at the glossary at the end of the chapter. The digital text book provides key words that you need to know in order to be successful when it comes to extracting meaning from data on the web. 

Exploring The Glossary