Course Description
This course enlists the various exploratory, predictive and
statistical approaches the strategy building teams come out in collusion
with the business with the main objective of attracting and growing
customers for the niche product of each firm in various geographical
regions and across different consumer spaces. It will be helpful for
interviews with banking analytic firms, e-commerce companies, consulting
firms to name a few, for freshers, to give them an informed view of
what to expect. It is also expected to benefit experienced professionals
who are shifting their domains for the first time into the arena of
Marketing Analytics with no exposure into the Marketing space
previously.
Marketing analytics comprises the processes and
technologies that enable marketers to evaluate the success of their
marketing initiatives by measuring performance (e.g., blogging versus
social media versus channel communications) using important business
metrics, such as ROI, marketing attribution and overall marketing
effectiveness. In other words, it tells you how your marketing programs
are really performing.
Course Objective:
To
study what drives marketing analytics strategies, overview of the
customer life cycle and how it is leveraged to predict behavior of
future customers, brief insight into various tools used like profiling,
segmentation, predictive models, propensity models etc. It also shows
the entire workflow in a firm whereby analytic recommendations are made,
business implements it, it gives us results which we track and monitor.
The
aim of this module is to provide knowledge on the qualitative and
quantitative methods used in marketing departments in the analytics
space, which provides a foundation to understanding strategies rolled
out to markets and consumers.
Why marketing analytics is important
Over
the years, as businesses expanded into new marketing categories, new
technologies were adopted to support them. Because each new technology
was typically deployed in isolation, the result was a hodgepodge of
disconnected data environments.
Consequently, marketers often make
decisions based on data from individual channels (website metrics, for
example), not taking into account the entire marketing picture. Social
media data alone is not enough. Web analytics data alone is not enough.
And tools that look at just a snapshot in time for a single channel are
woefully inadequate. Marketing analytics, by contrast, considers all
marketing efforts across all channels over a span of time – which is
essential for sound decision making and effective, efficient program
execution.
Curriculum
Why do we Need Marketing ?
Acquisition to Retention
Campaign Analytic
Customer Profitability to contact strategy
How Analytics drives Marketing Strategies ?
Introduction
Section 1: Introduction to Marketing Analytics Overview
Section 2: Basic concepts in Marketing Analytics Overview
What is Marketing ?
What to Market ?
Whom and When to Market ?
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