Marketing Analytics-Workshop

What does response modelling help marketers achieve?

• Predict customer responses to marketing campaigns

• Analyze customer segmentation

• Forecast customer retention

• Understand data-driven marketing decisions

Which of the following is NOT a component of RFM Modelling?

• Recency

• Frequency

• Monetary

• Retention

Which metric helps determine marketing efficiency and ROI by dividing total marketing spend by the number of new customers acquired?

• Bounce Rate

• Conversion Rate

• Click-Through Rate (CTR)

• Customer Acquisition Cost (CAC)

A high Bounce Rate may indicate which of the following?

• Effective ad targeting

• Irrelevant content or poor user experience

• High conversion rate

• Low marketing spend

Why is it important for marketers to track Customer Acquisition Cost (CAC)?

• It helps determine the effectiveness of content.

• It helps determine marketing efficiency and ROI.

• It measures the percentage of users who click ads.

• It tracks the number of visitors leaving after one page.

How can the structure of this dataset enable predictive modelling in marketing?

• By providing customer preferences and purchase history for analysis

• By listing only customer names

• By showing only product prices

• By including only geographic locations

Which marketing analytics tool is primarily used for basic analysis, pivot tables, and simple visualisations?

• Power BI

• Python

• Excel

• Google Analytics

A marketer wants to track website traffic, user behaviour, and conversion metrics. Which tool should they use?

• Power BI

• Excel

• Python

• Google Analytics

Which of the following is NOT a benefit of understanding Customer Lifetime Value (CLV)?

• Identifying your most valuable customers.

• Allocating resources effectively.

• Making informed decisions about marketing investments.

• Increasing the price of products automatically.

If a company wants to increase its CLV, which of the following strategies would be most effective based on the formula?

• Increase the average purchase value, purchase frequency, or customer lifespan

• Decrease the average purchase value and increase acquisition cost

• Reduce purchase frequency and customer lifespan

• Ignore acquisition cost and focus only on new customers