Discussion and Assignment Deadlines Quiz

What does CLV stand for?

• Customer Lifetime Value

• Client Lifetime Value

• Customer Long-term Value

• Client Long-term Value

Which of the following is NOT a function of CRMs?

• Providing key insights

• Smart automation

• Managing customer relationships

• Manufacturing products

What is a CRM system?

• A software tool that collects + manages customer data to help with relationship marketing

• A software tool that collects customer data and automatically emails them using AI

• A software tool that encrypts and manages customer data

• A software tool that uses customer data to predict the customer journey

What helps collect and aggregate customer data?

• Ignoring marketing platforms

• Integrating marketing/sales platforms

• Using outdated software

• Avoiding customer feedback

Which type of data is voluntarily provided by customers?

• Zero-party data

• First-party data

• Third-party data

• Fourth-party data

What type of messaging does contextual marketing deliver?

• Top-performing marketing messages regardless of the audience

• Timely, relevant messaging that reaches the contact at the right place/right time

• Challenger messaging that gives the customer the chance to avoid risk

• Sales-focused messaging that addresses product features & encourages conversions

What is the relationship between personalization and contextualization in marketing? Select all that apply.

• Personalization integrates the contact's information, like first name, into messaging.

• Contextualization integrates the contact's information into messaging to make the message more relevant.

• Personalization addresses the customer journey, ensuring customers receive the right info at the right time.

• Contextualization incorporates the customer journey, ensuring customers receive the right info at the right time.

If "marketing data" is a broader category of key marketing metrics used to improve marketing strategies, then what is customer data?

• Personal info about a customer's preferences.

• Customer lifetime value

  Cost-of-Acquisition

  etc.

• Personal info about a customer's engagement with emails.

• Total number of customers your company has.

If first-party data is owned behavioral data that companies can collect with MarTech, which of the following is a correct representation of how a company can collect + use first-party data?

• You are part of Ulta Beauty's rewards program and receive discounts on products you've previously purchased.

• City Market tracks your purchases + product views. They then send coupons for your previously purchased products.

• You browse Apple's site, looking at the new iPhone. You aren't logged in, but receive targeted ads on Instagram for the new iPhone.

• In a clothing app, you are prompted to complete a style survey. The brand now recommends products based on your preferences. 

What is one critical difference between the "funnel" and the "flywheel" in digital marketing?
Select the correct definitions.

• The funnel guides customers from awareness to decision, only.

• The flywheel has customers at the core, and is focused on delighting customers at every stage, including post-purchase. 

• The funnel and flywheel are synonymous.

• The flywheel focuses on measuring success by conversion. There is no focus on retaining customers.