set a performance goal for a marketing campaign

COURSE 5 – ASSESS FOR SUCCESS: MARKETING ANALYTICS AND MEASUREMENT QUIZ ANSWERS

Week 1: Introduction to Assess for Success: Marketing Analytics and Measurement

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TABLE OF CONTENT

Introduction to Assess for Success: Marketing Analytics and Measurement INTRODUCTION

This Assess for Success: Marketing Analytics and Measurement course is part of Coursera’s Google Digital Marketing & E-commerce Professional Certificate, designed to help you become an expert in the field.

This course will teach you the fundamentals of marketing campaigns and how marketers set a performance goal for a marketing campaign. You will explore media planning – learning how to create your own media plan – and be introduced to common tools used in marketing analytics and how they work. With a range of activities, quizzes, and assessments included throughout the course, you can fully equip yourself with the skills required for success in the field.

Learning Objectives

  • Define media planning and strategies.
  • Plan and allocate the spending of marketing budgets.
  • Explain how business objectives, marketing objectives, performance goals, and key performance indicators (KPIs) are related to each other.
  • Describe the unique role of performance goals and KPIs in marketing campaigns.
  • Describe how tools like Google Analytics and Google Ads are used to measure website and ad campaign performance.

TEMPLATE FOR A DIGITAL MEDIA PLAN

Marketing GoalsBudgetDurationTarget AudienceMedia ChannelsMedia MixKPIsPerformance Goals and Metrics
Grow brand awareness of target audiences $75,0003 monthsAdults 50-65 years oldDisplay60%CTR5% increase in page views CTR > 2%
   All adultsSearch30%CTR10% increase in page views CTR > 2%
   Adults 18-49 years oldSocial Media10%Audience growth rate20% or greater audience growth rate 

TEST YOUR KNOWLEDGE: MEDIA PLANS

1. In marketing, what is a performance goal?

  • A specific media event in a marketing campaign.
  • A plan that helps people understand what is in a marketing campaign before it is run.
  • A target that has a measurable, numeric value. (Correct)
  • An approach to allocating brand campaign budget on specific types of media.

Correct: Performance goals can apply to marketing goals or specific campaigns in a media plan. They include measurable targets, such as the number of impressions and number of clicks when an ad displays.

2. Imagine that a marketer runs an ad campaign, and they want to determine the return on ad spend (ROAS). Which of the following ratios should they use?

  • The ratio of the amount spent on advertising to the amount spent on owned media.
  • The ratio of performance goals to marketing goals.
  • The ratio of revenue generated in the previous quarter to the current quarter.
  • The ratio of revenue generated to the amount spent on advertising. (Correct)

Correct: The return on ad spend (ROAS) is the most important performance goal for a specific ad campaign. It is the performance goal most often included in media plans.

3. Beyond details on budget and duration, what does a media plan include? Select all that apply.

  • Target audience (Correct)
  • Media mix (Correct)
  • Performance goals (Correct)
  • Units sold
  • Key performance indicators (Correct)

Correct: A media plan contains the details about where, when, and how often an ad will appear across all media channels. This includes: budget; duration; target audience; media mix; key performance indicators; and performance goals.

4. Fill in the blank: Because key performance indicators (KPIs) are not specific enough for individual marketing campaigns, you need to create _____.

  • an additional performance goal for each campaign  (Correct)
  • a marketing goal for each KPI
  • a digital media plan for each campaign
  • a set of specific measures for each KPI

Correct: You need to create an additional performance goal for each campaign. These factor into the performance measurement for an overall marketing goal, and they should be included in your digital media plan.

5. Consider the following scenario:

ROAS = (Number of Units Sold x Cost Per Unit) / Ad Spend

Imagine that a marketer is working on a digital ad campaign for a single product. They learn that it costs $100 USD in advertising to sell 5 units of a $50 USD product. They apply the formula to calculate return on ad spend (ROAS): (number of units sold x cost per unit) / ad spend.

What is this marketer’s ROAS?

  • (5 x 5) / 100 = 0.25
  • (50 x 50) / 5 = 500
  • (5 x 50) / 50 = 5  
  • (5 x 50) / 100 = 2.5 (Correct)

Correct: If the marketer applies the formula, the result is 2.5. This means that for every dollar they spend on advertising, they make $2.50 USD. This can also be expressed as a ratio (2.5:1) or percentage (250%).

6. Which of the following are a part of a media plan? Select all that apply.

  • Products
  • Target audience (Correct)
  • Budget (Correct)
  • Media mix (Correct)

Correct: A media plan includes a target audience, a budget, or how much can be spent, and media mix, or which channels get how much of the budget. A media plan also includes duration, key performance indicators, and performance goals.

TEST YOUR KNOWLEDGE: PERFORMANCE GOALS FOR DIGITAL MARKETING

1. Imagine that a business develops a digital marketing campaign to gain new customers. What is the marketing term for this process?

  • Performance goal
  • Customer journey
  • Business goal
  • Customer acquisition (Correct)

Correct: Customer acquisition is the process of gaining new customers. Customer acquisition for an e-commerce store depends on traffic to the site. The more traffic coming to the site, the greater the chance of acquiring new customers.

2. Consider the following scenario:

Imagine that a company sets a business goal: They will increase customer acquisition by 25% in six months. Their performance goal is to increase website traffic by 25% in the same time period.

If they meet the performance goal, do they satisfy the business goal?

  • Yes, since the performance goal aligns 1:1 with the business goal.
  • Yes, since the same data demonstrates whether the company meets the performance goal and the business goal. X
  • No, since 25% more website traffic does not necessarily mean 25% more customers. (Correct)
  • No, since the business goal and the performance goal are not closely related.

3. Consider the following scenario:

Imagine that a company sets a business goal: They will increase incremental sales by a set amount over a specific time period. To do that, they need to increase their marketing budget.

Which formula should they use to calculate how much additional budget to allocate?

  • Additional budget = return on ad spend / incremental sales
  • Additional budget = total sales / return on ad spend
  • Additional budget = return on ad spend / total sales
  • Additional budget = incremental sales / return on ad spend (Correct)

Correct: To confirm how much more they need to spend, they divide incremental sales by their return on ad spend (ROAS). For example, if a company wants to increase incremental sales by $100,000 USD, and their ROAS is 4, they calculate: 100,000 / 4 = 25,000. They need to spend an additional $25,000 USD on marketing to drive incremental sales.

4. What is conversion volume?

  • The total number of conversions or total monetary value of conversions over a period of time. (Correct)
  • The sum of individual order amounts divided by the number of orders.
  • The total revenue generated by marketing activities over a period of time.
  • The process of gaining new customers.

Correct: A media plan includes a target audience, a budget, or how much can be spent, and media mix, or which channels get how much of the budget. A media plan also includes duration, key performance indicators, and performance goals.

5. Which of the following best describes cost per acquisition (CPA)?

  • The total cost paid for each click.
  • The advertising campaign’s automated bidding strategy.
  • The ratio of revenue generated to the amount spent on advertising.
  • The average cost paid for each conversion. (Correct)

Correct: CPA is a cost-related performance goal. Marketers can use comparative data from historical campaigns or industry-average values to help set CPA performance goals. With this information, they can optimize a campaign to achieve a lower CPA. This will improve the campaign’s value.

6. Which of the following is a marketing term for the process of gaining new customers?

  • Customer appreciation
  • Customer gain
  • Customer acquisition (Correct)
  • Customer addition

Correct: Customer acquisition is a marketing term for the process of gaining new customers. In e-commerce, customer acquisition depends on traffic to a brand’s site. The more traffic coming to the site, the greater the chance of acquiring new customers.

TEST YOUR KNOWLEDGE: PERFORMANCE GOALS

1. Which of the following is an online test of two variants to determine the better performing option?

  • A/B test (Correct)
  • C/D test
  • Beta test
  • Alpha test

Correct: An A/B test is an online test of two variants to determine the better performing option.

2. What is the purpose of attribution?

  • To monitor immediate data for insights to respond to events more quickly
  • To indicate if a user is moving towards a macro conversion
  • To determine the better performing option of two variants with an online test
  • To assign credit for conversions from ads, last clicks, or other touch points along a user’s path to
  • conversion completion (Correct)

Correct: Attribution assigns credit for conversions from ads, last clicks, or other touch points along a user’s path to conversion completion.

3. What is the relationship between a macro conversion and a micro conversion?

  • A macro conversion assigns credit for conversions from ads, last clicks, or other touch points along a user’s path to conversion completion. A micro conversion is a completed purchase transaction.
  • A micro conversion is a completed purchase transaction. A macro conversion is a completed response that indicates a potential customer is moving towards a micro conversion.
  • A macro conversion is a completed response that indicates a potential customer is moving towards a micro conversion. A micro conversion assigns credit for conversions from ads, last clicks, or other touch points along a user’s path to conversion completion.
  • A macro conversion is a completed purchase transaction. A micro conversion is a completed response that indicates a potential customer is moving towards a macro conversion. (Correct)

Correct: A macro conversion is a completed purchase transaction. A micro conversion is a completed response that indicates a potential customer is moving towards a macro conversion.

4. Consider the following scenario:

A marketer is working in Google Ads. They want to know how their advertising is performing, so they navigate to the Recommendations page. They review a percentage score that is cumulative for all campaigns.

What performance information did they review?

  • Optimization score (Correct)
  • Campaign score
  • Budget score
  • Impact score

Correct: The Recommendations page in Google Ads provides an optimization score, or percentage score that is cumulative for all campaigns. The closer the score is to 100%, the better the advertising is performing.

5. What is big data?

  • A field in analytics that systematically mines and extracts information from very large datasets for insights
  • A field using science and technology to design and build machines and structures (Correct)
  • A field focused on the production, distribution, and consumption of goods and services
  • A field developing intelligent machines and software that simulate human thought or work

Correct: Big data is a field in analytics that systematically mines and extracts information from very large datasets for insights.

6. Which of the following assigns credit for conversions from ads, last clicks, or other touch points along a user’s path to conversion completion?

  • Benefits
  • Gains
  • Attribution (Correct)
  • Declassification

Correct: Attribution assigns credit for conversions from ads, last clicks, or other touch points along a user’s path to conversion completion.

7. What can be found within the overview page of Google Ads?

  • A high-level view of how campaigns are performing (Correct)
  • An optimization score for campaigns
  • An evaluation of competing advertisements
  • A detailed, ad-by-ad breakdown of how users engage with campaigns

Correct: The Google Ads overview page provides a high-level view of how campaigns are performing. This is where to look for things like overall trends, click volumes, top keywords searched, and top-performing ads.

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ASSESS FOR SUCCESS: MARKETING ANALYTICS AND MEASUREMENT WEEKLY CHALLENGE 1

1. How does a marketer set a performance goal for a marketing campaign?

  • Choose the appropriate media for the marketing budget.
  • Determine the ratio of revenue generated to the amount spent on advertising.
  • Establish a target with a measurable, numeric value. (Correct)
  • Confirm where, when, and how often an ad will appear across media channels.

2. A key performance indicator can serve as a performance target for which of the following?

  • Individual marketing campaign
  • Business goal
  • Marketing campaign budget
  • Marketing goal (Correct)

3. Which of the following are required to calculate return on ad spend (ROAS)? Select all that apply.

  • Number of ad clicks
  • Cost per ad
  • Ad spend (Correct)
  • Number of units sold (Correct)
  • Cost per unit (Correct)

4. Imagine that a marketer is developing a digital media plan, and they ask: “Whom do I need to reach with my campaign?” What part of a marketing plan does this describe?

  • Budget
  • Campaign duration
  • Performance goals
  • Media mix
  • Target audience (Correct)

5. Consider the following scenario:

Imagine that a marketer is working on a digital ad campaign for a single product. They learn that it costs $150 USD in advertising to sell 5 units of a $75 USD product. They apply the formula to calculate return on ad spend (ROAS).

What is this marketer’s ROAS?

  • (5 x 150) / 75 = 10
  • (5 x 75) / 150 = 2.5 (Correct)
  • (5 x 5) / 150 = 0.17
  • (75 x 75) / 5 = 1,125

6. What is an A/B test?

  • An online test of two variants to determine the better performing option. (Correct)
  • A method to help determine the budget for a digital media campaign.
  • A process for aligning business goals and marketing goals.
  • A formula to calculate the return on ad spend (ROAS).

7. What do attribution projects organize? Select all that apply.

  • User demographics
  • Macro conversions (Correct)
  • User monetization
  • Micro conversions (Correct)

8. How can real-time analytics help marketing teams?

  • Marketers can respond to underperforming aspects of a campaign immediately. (Correct)
  • Marketers can create models based on browsing histories to find the right audience for a campaign.
  • Marketers can use historical data to predict what might happen in the future.
  • Marketers can choose an optimal page or ad without performing an A/B test.

9. Fill in the blank: To control costs of pay-per-click (PPC) advertising, you can manage the cost per click (CPC) on a per-campaign basis by _____.

  • assigning credit for conversions from PPC ads
  • increasing the budget allocated for each conversion
  • allocating more budget to the PPC campaigns that are the highest priority (Correct)
  • testing additional ads in the PPC campaigns that are lower priority

10. A business decides to create a digital media plan. First, they confirm their business and marketing goals. What additional steps must they take to create the plan? Select all that apply.

  • Define the campaign goals. (Correct)
  • Select the media channels. (Correct)
  • Determine and document all media plan items. (Correct)
  • Shorten the expected campaign duration.

11. Which of the following describes the relationship between a marketing goal and a business goal?

  • A business goal is a measurement that gauges success toward a marketing goal.
  • A business goal supports a marketing goal.
  • A marketing goal supports a business goal. (Correct)
  • A marketing goal is a measurement that gauges success toward a business goal.

12. What is the formula for the return on ad spend (ROAS)?

  • (total revenue x ad spend) / number of units sold
  • (number of units sold x ad spend) / cost per unit
  • (ad spend x cost per unit) / number of ad clicks
  • (number of units sold x cost per unit) / ad spend (Correct)

13. Imagine that a marketer is developing a digital media plan, and they ask: “Which channels will get the most out of my budget?” What part of a marketing plan does this describe?

  • Campaign duration
  • Target audience
  • Key performance indicators
  • Performance goals
  • Media mix (Correct)

14. Consider the following scenario:

Imagine that a marketer is working on a digital ad campaign for a single product. They learn that it costs $250 USD in advertising to sell 7 units of a $100 USD product. They apply the formula to calculate return on ad spend (ROAS).

What is this marketer’s ROAS?

  • (100 x 100) / 250 = 40
  • (7 x 7) / 250 = .20
  • (7 x 7) / 100 = 0.49
  • (7 x 100) / 250 = 2.8 (Correct)

15. How can predictive analytics help marketing teams? Select all that apply.

  • Historical data can be used to predict what might happen in the future. (Correct)
  • Optimal pages or ads may be identified without performing an A/B test.
  • Models based on browsing histories can be used to find the right audience for a campaign. (Correct)
  • Low-performing aspects of a campaign can be identified immediately.

16. Imagine that a marketer sets a specific objective in a marketing plan that supports a business goal. What does this describe?

  • A key performance indicator
  • A media mix
  • A marketing goal (Correct)
  • A performance goal

17. After completing an online test, a marketer deploys the better performing of two direct response ads. What type of testing strategy did the marketer use?

  • Outcome test
  • Click volume test
  • Drop rate test
  • A/B test (Correct)

18. What is the difference between a micro conversion and a macro conversion?

  • A macro conversion is the act of assigning credit for conversions. A micro conversion is typically a completed purchase transaction.
  • A macro conversion is typically a completed purchase transaction. A micro conversion is a completed response that indicates a customer is moving towards a macro conversion. (Correct)
  • A macro conversion is a series of actions that indicate a customer will likely make a purchase. A micro conversion is the act of assigning credit for conversions.
  • A macro conversion collects metrics from both websites and mobile apps. A micro conversion collects metrics from websites only.

19. Which of the following describes the relationship between a key performance indicator (KPI), a marketing goal, and a business goal?

  • A KPI is a specific objective in a marketing plan that informs marketing and business goals.
  • A KPI is an aim, achievement, or outcome for a business that informs marketing and business goals.
  • A KPI is a measurement used to gauge how successful a business is in its effort to reach a business or marketing goal. (CORRECT)
  • A KPI is a process used to establish business goals and marketing goals.

Correct: Correct

20. Fill in the blank: In marketing, the return on ad spend (ROAS) is the ratio of _____.

  • revenue generated to the number of new customers engaged
  • revenue generated to the amount spent on advertising (CORRECT)
  • count of total sales to the count of total ad clicks
  • count of campaign-level goals to the revenue generated from ads

Correct: Correct

21. A business decides to create a digital media plan. As part of the process, they clarify what the campaign should achieve and align this with higher-level marketing and business objectives. What media planning step does this describe?

  • Determine how much budget to spend across each media channel.
  • Select the media channels.
  • Determine and document all media plan items.
  • Define the campaign goals. (CORRECT)

Correct: Correct

22. Imagine that a marketer is developing a specific campaign in a media plan and they set a target with a measurable, numeric value. What does this describe? 

  • A media mix
  • A business goal
  • A marketing goal
  • A performance goal (CORRECT)

Correct: Correct

23. Imagine that a marketer is developing a digital media plan, and they ask: “How long will the campaign run?” What part of a marketing plan does this describe?

  • Campaign duration (CORRECT)
  • Performance goals
  • Key performance indicators
  • Target audience
  • Media mix

Correct: Correct

24. Consider the following scenario: 

Imagine that a marketing team has a trove of historical data. The team makes data models based on collected browsing histories. They use these models to identify the right audience for a successful campaign early on. 

  • Which application of big data does this describe? 
  • Predictive analytics (CORRECT)
  • Multi-channel marketing analytics
  • Real-time analytics
  • Autonomous marketing

Correct: Correct

25. Which of the following can you use to set your cost per acquisition (CPA) performance goal? Select two.

  • The total daily spend, divided by the cost per click.
  • The total cost per click, divided by the industry-average CPA.
  • The average CPA based on comparative data from historical campaigns. (CORRECT)
  • The industry-average CPA value from a relevant industry. (CORRECT)

Correct: Correct

Correct: Correct

26. Consider the following scenario: 

Imagine that a marketer is working on a digital ad campaign for a single product. They learn that it costs $200 USD in advertising to sell 8 units of a $75 USD product. They apply the formula to calculate return on ad spend (ROAS).

What is this marketer’s ROAS?

  • (8 x 8) / 200 = 0.32
  • (75 x 75) / 8 = 703.1
  • (8 x 200) / 75 = 21.3
  • (8 x 75) / 200 = 3 (CORRECT)

Correct: Correct

27. A business decides to create a digital media plan. Before they do, they need to define a target audience for the campaign. What media planning step should they take?

  • Confirm the business goals.
  • Conduct market research. (CORRECT)
  • Determine and document all media plan items.
  • Select the media channels.

Correct: Correct

28. Consider the following scenario:

Imagine that you want to learn which of two direct response pages performs better based on the number of clicks. You set up a test that randomly directs half of the web traffic to one page, and half to the other. After a set time period, you tally the total clicks on each page. 

What is this test called?

  • 50-50 test
  • Direct response test
  • Performance test
  • A/B test (CORRECT)

Correct: Correct

Introduction to Assess for Success: Marketing Analytics and Measurement CONCLUSION

Now that you know the basics of marketing campaigns, performance goals, media planning, and marketing analytics tools, you’re well on your way to becoming a competent marketer.

As you continue your journey in learning about marketing, we invite you to take advantage of the Coursera platform where you can engage in additional coursework related to this topic. There, you’ll have access to experienced professionals who can provide guidance and answer any questions you may have.

We hope Coursera provides a valuable learning experience for you as dive deeper into understanding marketing concepts.

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