For this final project, we are going to follow James at Snackwall. James launched Snackwall a year ago, and so far, it’s been a real success. Now, James is eager to expand his audience and he is preparing to give his manager an overview of the past year’s success and ask for an advertising budget to help him grow the business. James knows that going to his boss with a solid plan will help to convince him to allocate marketing budget to the expansion of Snackwall. ------------------------------------------------------------------------------------------------------------------ As a starting point, James identifies the segments that he should focus on for his advertising campaign. After all, James knows that it would not be a good use of his money to market to everyone. James relies on K-means clustering, using last year’s data on business size and amount spent for Snackwall clients. James worked with Alya, his analyst, and together they ran several iterations of their K-means clustering. Now they are using the chart below to determine the number of clusters James should focus on in his campaign. <img src="http://reaskly.com/wp-content/uploads/2022/09/8I1K7a1VT-2NSu2tVf_tHw_0014eae90e0645dc81baec8c1a7a93f1_NumberV1.png "> How many segments do you suggest James defines for his marketing campaign based on this plot?

Exactly! That is where the elbow is.

For this final project, we are going to follow James at Snackwall. James launched Snackwall a year ago, and so far, it’s been a real success. Now, James is eager to expand his audience and he is preparing to give his manager an overview of the past year’s success and ask for an advertising budget to help him grow the business. James knows that going to his boss with a solid plan will help to convince him to allocate marketing budget to the expansion of Snackwall. ------------------------------------------------------------------------------------------------------------------ As a starting point, James identifies the segments that he should focus on for his advertising campaign. After all, James knows that it would not be a good use of his money to market to everyone. James relies on K-means clustering, using last year’s data on business size and amount spent for Snackwall clients. James worked with Alya, his analyst, and together they ran several iterations of their K-means clustering. Now they are using the chart below to determine the number of clusters James should focus on in his campaign. <img src=" http://reaskly.com/wp-content/uploads/2022/09/WygF7JX2SuGoBeyV9krhsQ_6c1e3643db6a42a2ae319b4ebd9b2cf1_NumberV3.png "> How many segments do you suggest James defines for his marketing campaign based on this plot?

Exactly! That is where the elbow is.

For this final project, we are going to follow James at Snackwall. James launched Snackwall a year ago, and so far, it’s been a real success. Now, James is eager to expand his audience and he is preparing to give his manager an overview of the past year’s success and ask for an advertising budget to help him grow the business. James knows that going to his boss with a solid plan will help to convince him to allocate marketing budget to the expansion of Snackwall. ------------------------------------------------------------------------------------------------------------------ As a starting point, James identifies the segments that he should focus on for his advertising campaign. After all, James knows that it would not be a good use of his money to market to everyone. James relies on K-means clustering, using last year’s data on business size and amount spent for Snackwall clients. James worked with Alya, his analyst, and together they ran several iterations of their K-means clustering. Now they are using the chart below to determine the number of clusters James should focus on in his campaign. <img src="http://reaskly.com/wp-content/uploads/2022/09/bzDPhZn_QU2wz4WZ_5FNbA_32733f397ec94d52851d8e93395d1af1_NumberV2.png "> How many segments do you suggest James defines for his marketing campaign based on this plot?

Exactly! That is where the elbow is.

Based on the K-means clustering, James found 3 clusters that seem to define his current client base. Since James used the dollar amount spent and the business size as the starting variables for his cluster analysis, he knows that the segments are quite distinct in terms of these variables. <img src=" http://reaskly.com/wp-content/uploads/2022/09/AOzUR6FCSdas1EehQjnWvQ_7bf8b0f589af407099f9b8156cd0faf1_cluster.png "> How would you define Cluster 2?

Exactly! That is what this chart shows.

Based on the K-means clustering, James found 3 clusters that seem to define his current client base. Since James used the dollar amount spent and the business size as the starting variables for his cluster analysis, he knows that the segments are quite distinct in terms of these variables. <img src=" http://reaskly.com/wp-content/uploads/2022/09/AOzUR6FCSdas1EehQjnWvQ_7bf8b0f589af407099f9b8156cd0faf1_cluster-1.png "> How would you define Cluster 3?

Exactly! That is what this chart shows.

Based on the K-means clustering, James found 3 clusters that seem to define his current client base. Since James used the dollar amount spent and the business size as the starting variables for his cluster analysis, he knows that the segments are quite distinct in terms of these variables. <img src=" http://reaskly.com/wp-content/uploads/2022/09/AOzUR6FCSdas1EehQjnWvQ_7bf8b0f589af407099f9b8156cd0faf1_cluster-2.png "> How would you define Cluster 1?

Exactly! This is what the chart shows.

James decides that he should focus on the third cluster for his marketing campaign. He believes this segment has more potential, because he has seen from his previous campaign that it is a little harder to convince large businesses to subscribe. After the profiling exercise, he decides to call the segment the ‘Health conscious startups’ to help other people understand and remember this segment. Next, James turns to showing his management that the advertising budget he was given last year was money well spent. So, James calculates the Return on Ad Spend for last year, and he looks at ROAS by cluster. He shows the following results based on the total ad spend last year of $250K. The total revenue generated was $750K. The total cost invested last year was $500K, so the profit for the year for Snackwall was $250K.

Exactly! This is the calculated ROAS.

James decides that he should focus on the third cluster for his marketing campaign. He believes this segment has more potential, because he has seen from his previous campaign that it is a little harder to convince large businesses to subscribe. After the profiling exercise, he decides to call the segment the ‘Health conscious startups’ to help other people understand and remember this segment. Next, James turns to showing his management that the advertising budget he was given last year was money well spent. So, James calculates the Return on Ad Spend for last year, and he looks at ROAS by cluster. He shows the following results based on the total ad spend last year of $200K. The total revenue generated was $800K. The total cost invested last year was $500K, so the profit for the year for Snackwall was $300K.

Exactly! This is the calculated ROAS.

James decides that he should focus on the third cluster for his marketing campaign. He believes this segment has more potential, because he has seen from his previous campaign that it is a little harder to convince large businesses to subscribe. After the profiling exercise, he decides to call the segment the ‘Health conscious startups’ to help other people understand and remember this segment. Next, James turns to showing his management that the advertising budget he was given last year was money well spent. So, James calculates the Return on Ad Spend for last year, and he looks at ROAS by cluster. He shows the following results based on the total ad spend last year of $120K. The total revenue generated was $940K. The total cost invested last year was $510K, so the profit for the year for Snackwall was $430K.

Exactly! This is the calculated ROAS.

James understands that his management will also want to know the ROI for the advertising campaign he ran last year. Which of the following formulas do NOT calculate ROI. (Select all that apply)

Exactly! For more information on this topic, please review the video Return on Ad Spend (ROAS) and Return on Investment (ROI).

James understands that his management will also want to know the ROI for the advertising campaign he ran last year. The equation to calculate ROI is ROI = (net spend / net profit) * 100. True or False?

Exactly! The equation for ROI is ROI = (net profit / net spend) * 100.

James understands that his management will also want to know the ROI for the advertising campaign he ran last year. Which of the following formulas should James use to calculate the ROI?

Exactly! This is the equation for ROI.

James is hoping to get a substantial advertising budget for next year. To achieve that, he knows that it would help to show the CLTV for his clients. That may help convince management that their investment now will really pay off in the future. But, since James only launched Snackwall a year ago, it is going to be difficult to show CLTV. Which of the values that James requires to calculate CLTV does he have access to? (Select all that apply)

Exactly! This is a value he can find.

James is hoping to get a substantial advertising budget for next year. To achieve that, he knows that it would help to show the CLTV for his clients. That may help convince management that their investment now will really pay off in the future. But, since James only launched Snackwall a year ago, it is going to be difficult to show CLTV. What value is James missing to calculate CLTV?

Exactly! He would not have this value.

James is hoping to get a substantial advertising budget for next year. To achieve that, he knows that it would help to show the CLTV for his clients. That may help convince management that their investment now will really pay off in the future. But, since James only launched Snackwall a year ago, it is going to be difficult to show CLTV. The problem is the value of the Customer Retention Period. True or False?

Exactly! James would have trouble with this variable.

Finally, for his budget presentation, James showed the following chart from a linear regression analysis he ran, evaluating the influence of advertising spending on sales, based on last year’s experience. What does this chart help James prove? (Select all that apply) <img src="http://reaskly.com/wp-content/uploads/2022/09/662cf5d9-6583-4973-b7dc-ffe403b248d3image7.png ">

Exactly! That is what this chart indicates.

Finally, for his budget presentation, James showed the following chart from a linear regression analysis he ran, evaluating the influence of advertising spending on sales, based on last year’s experience. This chart helps James prove that sales and advertising spending are 93.5% correlated. True or False? <img src="http://reaskly.com/wp-content/uploads/2022/09/662cf5d9-6583-4973-b7dc-ffe403b248d3image7-1.png ">

Exactly! That is not what this chart indicates.

Finally, for his budget presentation, James showed the following chart from a linear regression analysis he ran, evaluating the influence of advertising spending on sales, based on last year’s experience. What does this chart help James prove? <img src="http://reaskly.com/wp-content/uploads/2022/09/662cf5d9-6583-4973-b7dc-ffe403b248d3image7-2.png ">

Exactly! That is what this chart indicates.

James’ management is happy with the progress he made last year, and his presentation was a success. He is given a large advertising budget for the next year, in fact, his budget will now be $250K. James’ manager told him that he trusts he will use the budget well, but that he wants to see that the advertising campaigns James runs are resulting in additional subscriptions. What type of test should James plan to make sure he can prove this to his boss?

Exactly! This is the appropriate study for this application.

James’ management is happy with the progress he made last year, and his presentation was a success. He is given a large advertising budget for the next year, in fact, his budget will now be $250K. James’ manager told him that he trusts he will use the budget well, but that he wants to see that the advertising campaigns James runs are resulting in additional subscriptions. James should plan to run an attribution study. True or False?

Exactly! It would be more appropriate to run a random control trial experiment.

James’ management is happy with the progress he made last year, and his presentation was a success. He is given a large advertising budget for the next year, in fact, his budget will now be $250K. James’ manager told him that he trusts he will use the budget well, but that he wants to see that the advertising campaigns James runs are resulting in additional subscriptions. James should plan to run a random control trial experiment. True or False?

Exactly! This is the appropriate study for this application.

Before spending any of his budget, James wants to compare the results from all of his different marketing channels over the past year, to see where his budget would make the most impact. What study should James run to analyze the impact of all of his marketing initiatives on sales?

Exactly! MMM is the appropriate approach.

Before spending any of his budget, James wants to compare all of the results in the different marketing channels last year, to see where his budget would make the most impact. James should run an Attribution Study to analyze the impact of all of his marketing initiatives on sales. True or False?

Exactly! Attribution is not the appropriate approach.

Before spending any of his budget, James wants to compare the results he achieved in all of his different marketing channels last year, to see where his budget would make the most impact. James should run a Marketing Mix Model to analyze the impact of all of his marketing initiatives on sales. True or False?

Exactly! MMM is the appropriate approach.

While optimizing the sales process, James creates a visualization to represent the sales funnel. <img src=" http://reaskly.com/wp-content/uploads/2022/09/k5u9arJPTpybvWqyT26cfg_44ba20f4bab148c6989fcd1a7fa4d7f1_FeastandFamineSalesFunnel.png "> Based on this visualization, which approach should James take to increase subscriptions?

Exactly! A reverse funnel suggests low brand awareness.

While optimizing the sales process, James creates a visualization to represent the sales funnel. <img src=" http://reaskly.com/wp-content/uploads/2022/09/X5hwZ2FkQjuYcGdhZLI74Q_ee512780803c4e2b8d3bb700a6f829f1_BlockageSalesFunnel.png ">

Exactly! This funnel is blocked, and the process needs to be evaluated.

While optimizing the sales process, James creates a visualization to represent the sales funnel. <img src=" http://reaskly.com/wp-content/uploads/2022/09/QEwPB3wTT52MDwd8E9-dVg_8eb239dbf89e4f218d97eb541d7e88f1_classicSalesFunnel.png "> Based on this visualization, which approach should James take to increase subscriptions?

Exactly! This is how it should look.

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Data Analytics Methods for Marketing

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Data Analytics Methods for Marketing Final Quiz

10 Questions Week 4

Graded Quiz: Optimization

10 Questions Week 4

Data Analytics Methods for Marketing

Graded Quiz: Evaluating Advertising Effectiveness

10 Questions Week 3

Data Analytics Methods for Marketing

Graded Quiz: Planning and Forecasting

10 Questions Week 2

Data Analytics Methods for Marketing

Graded Quiz: Segmentation

10 Questions Week 1

Data Analytics Methods for Marketing

Practice Quiz: Sales Funnel Analysis

4 Questions Week 4

Data Analytics Methods for Marketing

Practice Quiz: Attribution

5 Questions Week 4

Data Analytics Methods for Marketing

Practice Quiz: Marketing Mix Modeling

5 Questions Week 4

Data Analytics Methods for Marketing

Practice Quiz: Measuring Ad Effectiveness with Experiments

5 Questions Week 3

Data Analytics Methods for Marketing

Practice Quiz: Ad Effectiveness Measurement

4 Questions Week 3

Data Analytics Methods for Marketing

Practice Quiz: Customer Lifetime Value

5 Questions Week 2

Data Analytics Methods for Marketing

Practice Quiz: Descriptive Methods

5 Questions Week 2

Data Analytics Methods for Marketing

Practice Quiz: Cluster Analysis

5 Questions Week 1

Data Analytics Methods for Marketing

Practice Quiz: Segmentation in Marketing

5 Questions Week 1

Data Analytics Methods for Marketing

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