About the Course
Organizations large and small are inundated with data about consumer choices. But that wealth of information does not always translate into better decisions. Knowing how to interpret data is the challenge — and marketers, in particular, are increasingly expected to use analytics to inform and justify their decisions.
Marketing analytics enables marketers to measure, manage and analyze marketing performance to maximize its effectiveness and optimize return on investment (ROI). Beyond the obvious sales and lead generation applications, marketing analytics can offer profound insights into customer preferences and trends, which can be further utilized for future marketing and business decisions.
This course, developed at the Darden School of Business at the University of Virginia, gives you the tools to measure brand and customer assets, understand regression analysis, and design experiments as a way to evaluate and optimize marketing campaigns. You’ll leave the course with a solid understanding of how to use marketing analytics to predict outcomes and systematically allocate resources.
What you will learn?
- How to build and define a brand architecture and how to measure the impact of marketing efforts on brand value over time
- How to measure customer lifetime value and use that information to evaluate strategic marketing alternatives
- How to design basic experiments so that you can assess your marketing efforts and invest your marketing dollars most effectively
- How to set up regressions, interpret outputs, explore confounding effects and biases, and distinguish between economic and statistical significance
Skills you will gain
- Marketing Experiments
- Customer Lifetime Value
- Regression Analysis
- Marketing Analytics
- Brand Equity
The Marketing Process: Welcome! We’ll start with an overview of the marketing process and the transformational role of analytics. Then we’ll walk through a case study. Ever heard of Airbnb? They’re a powerhouse of the online community marketplace matching travelers to hosts.
Metrics for Measuring Brand Assets: Firms spend millions on branding for one reason: It allows them to charge more for their products and services. In this module, we’ll explore this valuable, if intangible, asset. We’ll discuss how to build and define a brand architecture and how to measure the impact of marketing efforts on brand value over time.
Customer Lifetime Value: How valuable are your customers? That’s a tough question that we’ll show you how to answer in this module where we’ll explore Customer Lifetime Value, or the future net value of a customer relationship.
Marketing Experiments: Ever wonder how much you have to cut prices to drive the most sales? Or which advertisement copy is more effective in customer conversion? Do an experiment! Experiments allow you to understand the effectiveness of different marketing strategies and forecast expected ROI.
Regression Basics: Ever wonder how variables influence consumer behavior in the real world–like how weather and a price promotion affect ice cream consumption? In this module, we will take a look at regression and how it’s used to understand that relationship.
To enroll for this course, click the link below.
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