META MARKETING ANALYTICS PROFESSIONAL CERTIFICATE
Course 1 – Marketing Analytics Foundation
Week 1: The Importance of Analytics in Marketing
Coursera Study Guide
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Meta Marketing Analytics Coursera Answers WEEK 1 – iNTRODUCTION
This Coursera course is designed to give you a foundation in marketing analytics and how it can be used to inform marketing decisions. You’ll learn about the different types of data available to marketers and how to collect and analyze this data.
With Meta Marketing Analytics Professional Certificate, you’ll also be introduced to basic marketing principles and how they can be applied to create effective marketing campaigns. By the end of this course, you will better understand how data and analytics can be used to improve your marketing efforts.
Learning Objectives
- Describe how data and measurement inform marketing action
- Describe the basic principles of Marketing
- Identify why measurement and analytics matter in digital marketing
PRACTICE QUIZ: BASIC PRINCIPLES OF MARKETING
1. The marketing department or person at a company promotes and sells the products a company makes.
- False
- True (CORRECT)
Correct: That’s right! They’re making sure customers know about and want to purchase a company’s product.
2. Next, a marketer needs to build a message, determine delivery methods, and plan out a campaign for a product.
- False
- True (CORRECT)
Correct: That’s right! This is a big part of the marketing process.
3. Once a campaign has launched, a marketer needs to optimize and evaluate its effectiveness
- True (CORRECT)
- False
Correct: That’s right! Once the campaign is underway, there is still plenty of work to do.
4. Next, a marketer needs to… (choose all that apply)
- Find new potential customers
- Plan out the appropriate next steps for their marketing campaign
- Generate a message and story about the product they want to sell (CORRECT)
- Determine where and how this message should be delivered
Correct: That’s right! Building a message, determining delivery methods, and planning out next steps are critical to a successful marketing campaign.
PRACTICE QUIZ: USES OF ANALYTICS IN MARKETING
1. When defining a target audience, it’s too early to incorporate analytics.
- True
- False (CORRECT)
Correct: That’s right! Making sure marketing departments are spending money wisely, on interested audiences, is a great use of analytics.
2. True or false: The purchase funnel is visualized as a funnel because the assumption is that some people will drop out of the funnel before completing a purchase.
- True (CORRECT)
- False
Correct: That’s right! While ideally everyone would complete all steps in the funnel, that’s rarely if ever the case.
3. The first opportunity a marketer has to use data analytics comes when they are…
- Building out their team
- Identifying their target audience (CORRECT)
- Sorting through product reviews
- Creating new products
Correct: That’s right! Making sure marketing departments are spending money wisely, on interested audiences, is a great use of analytics.
4. Choose all that apply: Marketing analytics can be used to
- Design the visuals for a marketing campaign.
- Find agencies to help with a marketing campaign.
- Evaluate the effectiveness of a campaign. (CORRECT)
- Plan and forecast a campaign. (CORRECT)
Correct: That’s right! Marketing analytics is extremely important for planning out, forecasting the success of, and evaluating the effectiveness of a marketing campaign.
Correct: That’s right! Marketing analytics is extremely important for planning out, forecasting the success of, and evaluating the effectiveness of a marketing campaign.
5. The purchase funnel describes the steps users go through when purchasing a product. Which of the following represents the steps as they follow each other in the funnel?
- Awareness, Interest, Decide, Action (CORRECT)
- Interest, Awareness, Decide, Action
- Social, Website, Cart, Checkout
- Browse, Find, Purchase, Review
Correct: That’s right! And remember, it’s a funnel because some people will drop off at each step.
6. Choose all that apply: Marketing analytics can be used to
- Find agencies to help with a marketing campaign.
- Design the visuals for a marketing campaign.
- Plan and forecast a campaign.(CORRECT)
- Evaluate the effectiveness of a campaign. (CORRECT)
Correct: That’s right! Marketing analytics is extremely important for planning out, forecasting the success of, and evaluating the effectiveness of a marketing campaign.
META MARKETING ANLYTICS COURSERA ANSWERS AND STUDY GUIDE
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GRADED QUIZ: USE CASES FOR DATA IN MARKETING
1.When segmenting data collected about people, it’s best…
- To put similar people together into groups and pay attention to the biggest of these groups. (CORRECT)
- To start with random groupings and brainstorm on potential campaigns that might appeal to them.
- To single out people who are least similar and gather more information from them.
Correct: That’s right! These largest groups will likely be your target audience.
2. Most advertising platforms provide…
- Design teams that make updates to your ads as needed.
- A money back guarantee.
- Detailed reports to calculate and track the effectiveness of ads. (CORRECT)
Correct: That’s right! This type of feature is common and will give you the specifics of your campaigns.
3. If an ad isn’t performing as well as expected, it’s a good idea to let it run as long as initially planned to gather that data.
- True
- False (CORRECT)
Correct: That’s right! Though that data is helpful, it’s best to act fast to fine tune your marketing strategy.
4. Jordan is evaluating how many purchases resulted from previous campaigns on different social media platforms to determine what to expect from the money they plan to spend on a new campaign on these platforms. Of the five main use cases for marketing analytics, this is…
- Optimizing marketing strategy
- Finding your audience
- Optimizing sales funnel
- Evaluating effectiveness
- Planning and forecasting (CORRECT)
Correct: That’s right! Weighing the pros and cons of different platforms based on prior data is critical to a successful marketing campaign.
5.When optimizing a marketing campaign, it’s a good idea to…
- Post an ad on a competitor’s social media presence.
- Test different versions of an ad and run them together. (CORRECT)
Correct: That’s right! It can be helpful to test different versions of an ad to evaluate which performs better.
6. Jordan is putting together a survey to learn more about their customers. Of the five main use cases for marketing analytics, this is…
- Finding your audience (CORRECT)
- Optimizing marketing strategy
- Optimizing sales funnel
- Planning and forecasting
- Evaluating effectiveness
Correct: That’s right! Surveys are a great tool to learn specific things about a large group of people.
7. It’s better to have a higher ROAS than a lower one.
- True (CORRECT)
- False
Correct: That’s right! A high ROAS (Return on Ad Spend) implies that you’re making more money than it cost to run an ad- that’s great!
8. It’s possible to make educated forecasts of potential success on specific platforms based on historical data.
- False
- True (CORRECT)
Correct: That’s right! The success or failure of previous marketing campaigns can give you a well informed picture of what to expect in future campaigns.
9. In which of the following marketing functions can marketing analytics help?
- Consumer and market analysis
- Marketing planning
- Advertising effectiveness evaluation
- All of these (CORRECT)
Correct: That is right! Marketing analytics can help in all of these aspects of marketing.
10. How did segmentation help James define his target audience?
- Segmentation helped to identify the number of interested people
- Segmentation helped to group the people interested in Snackwall and describe their common characteristics (CORRECT)
- Segmentation helped to find the companies with the most employees
Correct: That is correct. Now that James knows what the interested group has in common, he can find more people like them
11. How can historical data help in the marketing planning phase?
- Historical data for similar events in the past can help predict events in the future and can thus guide the planning process (CORRECT)
- Historical data provides you with the number of sales that happened in the past and does give you information about how much budget you have for your marketing.
- Historical data is not very helpful for planning since you cannot predict what will happen in the future.
Correct: That is correct.
12. If I spend $1 on advertising and as a result of my ads I have $2 revenue, what would my ROAS be?
- 1
- 2 (CORRECT)
- 0.5
Correct: That is correct.
13. Which of the following are examples of friction in the purchase process?
- When a websites pages load very slowly during the checkout process
- When a website is not loading correctly on your mobile device.
- When the shipping costs are not made clear in the checkout process
- All of the above (CORRECT)
Correct: Indeed, anything that hampers the online checkout process or leaves the user with questions during the process can cause friction.
META MARKETING ANALYTICS COURSERA WEEK 1 CONCLUSION
The data collected by marketing analytics can be used to improve your marketing efforts and create more effective marketing campaigns. This Coursera course is designed to give you a foundation in marketing analytics so that you can make use of this data to inform your marketing decisions.
By concluding this week, you should have a better understanding of how to collect and analyze data, as well as how to apply basic marketing principles to create effective marketing campaigns. Join the learning experience in Coursera today!
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