Weekly Challenge 1: Introduction to Assess for success: Marketing Analytics and measurement
1. 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 performance goal
2. A key performance indicator can serve as a performance target for which of the following?
- Marketing goal
3. What is the formula for the return on ad spend (ROAS)?
- (number of units sold x cost per unit) / ad spend
4. 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
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 $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?
- (7 x 100) / 250 = 2.8
6. 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?
- A/B test
7. What is the difference between a micro conversion and a macro conversion?
- 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.
8. How can real-time analytics help marketing teams?
- Marketers can respond to underperforming aspects of a campaign immediately.
9. Which of the following can you use to set your cost per acquisition (CPA) performance goal? Select two.
- The industry-average CPA value from a relevant industry.
- The average CPA is based on comparative data from historical campaigns.
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.
- Determine and document all media plan items.
- Select the media channels.
Shuffle Q/A 1
11. Which of the following describes the relationship between a key performance indicator (KPI), a marketing goal, and a business goal?
- A KPI is a measurement used to gauge how successful a business is in its effort to reach a business or marketing goal.
12. A marketer measures a campaign’s performance for a company that aims to grow its revenue. They use the formula (number of units sold x cost per unit) / ad spend. What did they determine?
- Return on ad spend (ROAS)
13. Which of the following is true about media planning?
- It indicates where, when, and how often an ad will appear across all media channels.
14. A marketer compares two web pages to identify which call to action performs better with their audience. What test did they use?
- Split or A/B test
15. What do attribution projects organize? Select all that apply.
- Micro conversions
- Macro conversions
16. A marketer saves time by identifying the best page on their website without performing an A/B test. Which big data trend allows them to do this?
- Predictive analytics
17. 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 _____.
- allocating more budget to the PPC campaigns that are the highest priority
18. When creating a media plan, why should you identify the media mix?
- It enables the right content selection on an allocated budget for any media channel.
19. A marketer sets a specific objective in a marketing plan that supports a business goal. What does this describe?
- A marketing goal
20. Fill in the blank: In marketing, the return on ad spend (ROAS) is the ratio of _____.
- revenue generated to the amount spent on advertising
21. 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 75) / 200 = 3
22. 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
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Shuffle Q/A 1
23. Fill in the blank: One way to control cost is to manage CPC on a per-campaign basis. You can allocate more budget to the PPC campaigns that _____.
- are the highest priority
24. 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?
- Conduct market research.
25. A marketer creates a new campaign that includes both business and marketing goals. They identify key performance indicators (KPIs) as part of the media plan. What is the role of KPIs?
- KPIs are quantifiable metrics that serve as performance targets for marketing goals
26. A marketer uses the ad spend, cost per unit, and number of units sold to determine a campaign’s performance. What should they calculate using this information?
- The ratio of revenue generated to the amount spent on advertising
27. When creating a media plan, you should consider the budget. Why is this important?
- It determines how much you can spend and on which channels.
28. A marketer creates two versions of a social media ad. The traffic is equally split and randomly directed to each ad. One ad outperforms the other by receiving more clicks. The marketer uses the ad that performed better.
What test did they use?
- Split or A/B test
29. A marketer uses attribution to assign credit to completed purchase transactions instead of responses that indicate they are on the way to purchase. What type of conversion does this refer to?
- Macro conversions
30. A marketer creates a media plan before running a new campaign. They include information such as target audience, media mix, and KPIs. Why is the media plan important?
- It contains requirements, such as number of clicks, that should be met when a campaign is run.
31. Big data plays a role in _____, which uses historical data to predict what might happen.
- predictive analytics
32. Fill in the blank: The cost per acquisition (CPA) metric is best described as the _____.
- average cost paid for each conversion
33. When creating a media plan, why should you clearly identify your target audience?
- To spend the limited campaign budget on the people most likely to make a purchase
34. Which of the following is true about key performance indicators (KPIs)? Select all that apply.
- They are used in media planning.
- They often serve as performance targets for marketing goals.
Shuffle Q/A 3
35. 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?
- A/B test
36. A marketer creates a new campaign. They determine how many times each ad is displayed and how many responses it receives. What are these targets an example of?
- A performance goal
37. A marketer uses return on ad spend (ROAS) as the performance goal for an ad campaign. What does ROAS indicate?
- How much revenue was generated from the amount spent on advertising
38. What is an A/B test?
- An online test of two variants to determine the better performing option.
39. A marketer identifies the average CPA based on comparative data from historical campaigns.
What does this enable them to do?
- Set the cost per acquisition (CPA) performance goal
40. How can predictive analytics help marketing teams? Select all that apply.
- Optimal pages or ads may be identified without performing an A/B test.
- Historical data can be used to predict what might happen in the future.
- Models based on browsing histories can be used to find the right audience for a campaign.
41. As a marketer, you are working on a digital ad campaign for a new product. You learn that advertising costs $200 to sell 10 units of a $115 product. How would you calculate the campaign’s return on ad spend (ROAS)?
- (10 x 115) / 200 = 5.75
42. A marketer identifies the average cost paid for each conversion. What is this metric?
- Cost per acquisition (CPA)
43. As a marketer, you plan to raise brand awareness as part of your social media strategy. What is this goal an example of?
- A marketing goal
44. A marketer aims to increase a company’s yearly revenue. They create a marketing goal to increase the number of website visits. What is the connection between these two goals?
- A marketing goal is a specific objective in a marketing plan that supports the overall business goal.
45. 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?
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