Optimize Your Ad Campaigns Quiz » Week 3 » Measure And Optimize Social Media Marketing Campaigns

Q: Imagine you work in the marketing department of a large clothing retailer. You want to run a marketing mix modeling study. Which of the following statements regarding the benefits of conducting this study are true? (Select all that apply)

Correct! When running a marketing mix modeling study, you’ll collect data related to any previous marketing actions and look at data on how much you spent and what results you got. <br> Correct! After analyzing the data, you’ll have a report that tells you what the Return on Investment was for each one of the channels you used and how much each channel contributed to your final results. This will help guide future marketing decisions. <br>

Q: True or false? When you are only testing two variations of one variable, you use an A/B test to determine which version will produce the best results.

A/B testing is the process of comparing two variants of an ad against each other to evaluate which one performs best.

Q: Which of the following statements is true about the accuracy of attribution results?

Correct! If the data available is accurate and robust, then the results of the attribution model should be accurate, too. <br> Correct! How closely the model reflects reality is a major part to determining the accuracy of the attribution results.

Q: True or false? In statistical or math models you let the data speak and you don’t decide on a model ahead of time.

Correct! Instead of using your intuition to choose a rule, a statistical model uses the available data to figure out which touchpoints have the most influence.

Q: Which of the following describes some of the most common challenges we face when measuring advertising effectiveness?

Correct! These are both major challenges when trying to measure advertising effectiveness across platforms.

Q: True or false? You would run a marketing mix modeling study to show how your advertising on different platforms contributed to company sales.

Correct! A marketing mix modeling study is needed when you have advertising across multiple platforms, like TV, Radio, and Facebook.

Q: Which of the following is correct about a positional model?

Correct! In the positional model, more importance is placed on first and last touch points.

Q: In A/B testing in advertising, it’s best practice to only change one variable at a time between the version A and B of your ad. Why is that?

Correct! If you vary more than one variable, you won’t know which variable really made the difference.

Q: True or false? Statistical models are not as robust as rule based models and less accurately reflect reality.

Correct! Statistical models are in fact more robust and better reflect reality than rule based models as they use all available data to determine which ads impact results.

Q: True or false? Historically, advertisers have relied on cookies to connect a sequence of touchpoints to a person.

Correct! Cookies are pieces of code that get added to a person’s web browser when they visit your site and when they see your ads. The cookie then let’s your advertising or measurement platform know which ads people interacted with or saw.