Marketing Analytics

University of Virginia

About this Course

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Organizations large and small are inundated with data about consumer choices. But that wealth of information does not always translate into better decisions. Knowing how to interpret data is the challenge -- and marketers in particular are increasingly expected to use analytics to inform and justify their decisions. 
Marketing analytics enables marketers to measure, manage and analyze marketing performance to maximize its effectiveness and optimize return on investment (ROI). Beyond the obvious sales and lead generation applications, marketing analytics can offer profound insights into customer preferences and trends, which can be further utilized for future marketing and business decisions. 

This course, developed at the Darden School of Business at the University of Virginia, gives you the tools to measure brand and customer assets, understand regression analysis, and design experiments as a way to evaluate and optimize marketing campaigns. You'll leave the course with a solid understanding of how to use marketing analytics to predict outcomes and systematically allocate resources.

You can follow my posts in Twitter, @rajkumarvenk, and on linkedin: https://www.linkedin.com/in/education-marketing.

Thanks, 
Raj
Professor of Business Administration at Darden

Learner Career Outcomes

35%

started a new career after completing these courses

26%

got a tangible career benefit from this course

10%

got a pay increase or promotion

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Beginner Level

No prior experience needed to participate in and benefit from this course.

Approx. 16 hours to complete

English

Subtitles: French, Portuguese (Brazilian), Russian, English, Spanish

What you will learn

How to build and define a brand architecture and how to measure the impact of marketing efforts on brand value over time

How to measure customer lifetime value and use that information to evaluate strategic marketing alternatives

How to design basic experiments so that you can assess your marketing efforts and invest your marketing dollars most effectively

How to set up regressions, interpret outputs, explore confounding effects and biases, and distinguish between economic and statistical significance

Skills you will gain

Marketing ExperimentsCustomer Lifetime ValueRegression AnalysisMarketing AnalyticsBrand Equity

Learner Career Outcomes

35%

started a new career after completing these courses

26%

got a tangible career benefit from this course

10%

got a pay increase or promotion

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Beginner Level

No prior experience needed to participate in and benefit from this course.

Approx. 16 hours to complete

English

Subtitles: French, Portuguese (Brazilian), Russian, English, Spanish

Instructor

Instructor rating

4.76/5 (1,251 Ratings)

Rajkumar Venkatesan

Ronald Trzcinski Professor of Business Administration

Darden School of Business

244,351 Learners

2 Courses

Offered by

University of Virginia

A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders.

Syllabus - What you will learn from this course

Content Rating94%(21,906 ratings)

Week

Week 1

2 hours to complete

The Marketing Process

Welcome! We'll start with an overview of the marketing process and the transformational role of analytics. Then we'll walk through a case study. Ever heard of Airbnb? They're a powerhouse of the online community marketplace matching travelers to hosts. You'll see how they use analytics and the surprising results of their analyses.

2 hours to complete

10 videos (Total 35 min), 2 readings, 3 quizzes

10 videos

Data, Data Everywhere!2m

Course Overview2m

Why Marketing Analytics?4m

Introduction to the Marketing Process2m

Airbnb Marketing Process7m

Airbnb's Strategic Challenge1m

Airbnb's Marketing Strategy with Data3m

Using Text Analytics3m

Utilizing Data to Improve Marketing Strategy3m

Takeaways: Improving the Marketing Process with Analytics3m

2 readings

Course Overview & Requirements10m

Use Discussion Forums to Deepen Your Learning10m

3 practice exercises

Practice Quiz on the Marketing Process15m

Practice Quiz on Data Analytics Basics18m

Week 1 Quiz: the Marketing Process33m

Week

Week 2

5 hours to complete

Metrics for Measuring Brand Assets

Firms spend millions on branding for one reason: It allows them to charge more for their products and services. In this module, we'll explore this valuable, if intangible, asset. We'll discuss how to build and define a brand architecture and how to measure the impact of marketing efforts on brand value over time. By the end of this module, you'll be able to measure and track brand value. So let's get started!

5 hours to complete

12 videos (Total 46 min)

12 videos

Intro to Metrics for Measuring Brand Assets1m

Snapple and Brand Value5m

Developing Brand Personality4m

Brand Personality: Red Bull1m

Developing Brand Architecture5m

Brand Architecture: Red Bull3m

Brand Architecture: Etch A Sketch2m

Measuring Brand Value10m

Measuring Brand Value: Key Points1m

Revenue Premium as a Measure of Brand Equity5m

Calculating Brand Value: Snapple5m

Takeaways: Measuring Brand Value1m

3 practice exercises

Practice Quiz on Brand and Brand Architecture12m

Practice Quiz on Calculating Brand Value24m

Week 2 Quiz on Measuring Brand Assets30m

Week

Week 3

2 hours to complete

Customer Lifetime Value

How valuable are your customers? That's a tough question that we'll show you how to answer in this module where we'll explore Customer Lifetime Value, or the future net value of a customer relationship. This forward-looking measure of the customer relationship helps you connect marketing strategies to future financial consequences and invest marketing dollars in the right place to maximize return over a customer's lifetime. By the end of this module, you will know how to measure customer lifetime value and evaluate strategic marketing alternatives based on whether they improve customer retention and lifetime value.

2 hours to complete

11 videos (Total 45 min)

11 videos

Welcome to Week 31m

Customer Lifetime Value (CLV)4m

Customer Lifetime Value: Netflix2m

Calculating CLV7m

Understanding the CLV Formula2m

Applying the CLV Formula: Netflix6m

Extending the CLV Formula, Part 17m

Extending the CLV Formula, Part 23m

Using CLV to Make Decisions: IBM3m

CLV: A Forward Looking Measure3m

Takeaways: CLV1m

2 practice exercises

Practice Quiz on CLV30m

Week 3 Quiz on CLV30m

Week

Week 4

5 hours to complete

Marketing Experiments

Ever wonder how much you have to cut prices to drive the most sales? Or which advertisement copy is more effective in customer conversion? Do an experiment! Experiments allow you to understand the effectiveness of different marketing strategies and forecast expected ROI. This week, we'll explore how to design basic experiments so that you can assess your marketing efforts and invest your marketing dollars most effectively. We'll help you avoid a gap between your test results and field implementation, and explore how web experiments can be implemented cheaply and quickly. By the end of this module, you'll be able to design and conduct effective experiments that test your marketing campaigns--and then use the results to make future marketing decisions.

5 hours to complete

13 videos (Total 60 min), 3 readings, 5 quizzes

13 videos

Welcome to Week 41m

Determining Cause and Effect through Experiments3m

Designing Basic Experiments6m

Designing Before - After Experiments5m

Designing Full Factorial Web Experiments4m

Designing an Experiment: Etch A Sketch2m

Analyzing an Experiment: Etch A Sketch8m

Analyzing an Experiment: Betty Spaghetty5m

Projecting Lift2m

Calculating Projected Lift: Betty Spaghetty6m

Pitfalls of Marketing Experiments: Betty Spaghetty3m

Maximizing Effectiveness: Nanoblocks8m

Takeaways: Marketing Experiments1m

3 readings

Spreadsheet with Formulas10m

Transformation of Marketing at the Ohio Art Company (abridged)15m

MBTN Assessments10m

4 practice exercises

Practice Quiz 1 on Designing Experiments9m

Practice Quiz 2 on Calculating Break Even and Lift12m

Practice Quiz 3 on Projecting Lift9m

Week 4: Marketing Experiments Quiz30m

Frequently Asked Questions

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Marketing Analytics