assess for success marketing analytics and measurement weekly challenge 1
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
- A business goal
- A marketing goal
- A media mix
2. A key performance indicator can serve as a performance target for which of the following?
- Marketing goal
- Business goal
- Individual marketing campaign
- Marketing campaign budget
3. What is the formula for the return on ad spend (ROAS)?
- (number of units sold x ad spend) / cost per unit
- (number of units sold x cost per unit) / ad spend
- (total revenue x ad spend) / number of units sold
- (ad spend x cost per unit) / number of ad clicks
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?
- Media mix
- Target audience
- Campaign duration
- Performance goals
- Key performance indicators
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 7) / 250 = .20
- (7 x 100) / 250 = 2.8
- (100 x 100) / 250 = 40
- (7 x 7) / 100 = 0.49
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
- Click volume test
- Outcome test
- Drop rate test
7. What is the difference between a micro conversion and a macro conversion?
- A macro conversion collects metrics from both websites and mobile apps. A micro conversion collects metrics from websites only.
- 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.
- A macro conversion is the act of assigning credit for conversions. A micro conversion is typically a completed purchase transaction.
- 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.
8. How can real-time analytics help marketing teams?
- Marketers can create models based on browsing histories to find the right audience for a campaign.
- Marketers can respond to underperforming aspects of a campaign immediately.
- Marketers can choose an optimal page or ad without performing an A/B test.
- Marketers can use historical data to predict what might happen in the future.
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 total cost per click, divided by the industry-average CPA.
- The total daily spend, divided by the cost per click.
- The average CPA 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.
- Shorten the expected campaign duration.
- 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 process used to establish business goals and marketing goals.
- A KPI is a measurement used to gauge how successful a business is in its effort to reach a business or marketing 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.
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?
- Number of units returned
- Yearly budget
- Total sales
- Return on ad spend (ROAS)
