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Sloan School of Management

Digital Marketing and Social Media Analytics

Oct 24—25
2 days
Cambridge, Massachusetts, United States
USD 4100
USD 2050 per day

How it works

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Description

Digitization is revolutionizing marketing strategy. From tablets and big data to new customer monitoring tools and the global emergence of social networking, recent technology has revolutionized the modes of communication through which businesses and brands engage with consumers. This course is designed to help executives understand the new rules of marketing in the digital age, covering a range of topics that include search marketing, social network marketing and analytics, predictive modeling, mobile advertising and commerce, CRM strategy, and digital advertising.

New digital technologies have fundamentally reshaped marketing theory and practice the last decade alone. Technology has changed the modes of communication through which firms engage with consumers. Moore's law has made the storage and analysis of consumer data scalable, creating opportunities for fine-grained behavioral analytics. New monitoring tools have fostered precise and personalized customer relationship management practices. The rise of mobile phones and tablets has enabled location based messaging and reciprocal communication. The ubiquity of video content has promulgated rich, native advertising programs. The global emergence of social networking has enabled networked based predictive modeling and new forms of targeting and referral strategies based on the preferences of consumers' peers. And finally, new social media have brought all of this onto the public stage, with word-of-mouth conversations driving brand awareness and brand loyalty, and user-generated content on review and ratings sites making or breaking demand for products or services.

This two-day course provides a detailed, applied perspective on the theory and practice of digital marketing and social media analytics in the 21st century. We will cover concepts such as the difference between earned and paid media, predictive modeling for ad targeting and customer relationship management, measuring and managing product virality, viral product design, native advertising, and engaging the multichannel experience. Throughout the course we will specifically stress the theory and practice of randomized experimentation, AB testing and the importance of causal inference for marketing strategy.

Topics covered in this course include:

  • Search marketing
  • Social network marketing
  • Social media analytics
  • User generated content management and marketing
  • Mobile advertising and commerce
  • CRM strategy in the age of big data and digital advertising
  • Earned vs paid media
  • Predictive modeling for ad targeting
  • Viral product design
  • The multichannel experience
  • Randomized experimentation
  • A/B testing

Upon completion of this course you should have a fundamental understanding of:

  • The digital advertising ecosystem and attribution and pricing models for digital advertising
  • The fundamentals of web and app analytics and KPIs for web traffic and commerce
  • Search engine marketing, search engine advertising, ad auctions, and strategies for optimizing search engine advertising
  • Social network marketing and social network targeting
  • Predictive analytics using social network data, peer-to-peer marketing and personalized social advertising
  • Targeting and segmentation, specifically demographic targeting and segmentation, behavioral targeting and segmentation, social targeting and segmentation
  • Social listening—analysis of user generated content, reviews, ratings and their effects on consumer demand
  • Mobile commerce and analytics

Schedule

DAY 1 SAMPLE

9:00AM - 10:30AM Display Advertising & Attribution

  • Understand digital advertising trends and benchmarks across regions, industries, channels, and formats
  • Understand the process of digital advertising: the digital ads ecosystem, real-time bidding, programmatic buying, and ad delivery
  • Understand the process of ad targeting
  • Understand the most common pricing schemes in digital advertising and their strengths and weaknesses * Understand the bleeding edge Digital Advertising Measurement Challenges and their Solutions

10:30AM - 11:00AM Break

11:00AM - 12:30PM Search Advertising * Understand the economics and market structure of search advertising -Understand the search advertising process from bidding, to auction mechanisms, to ad ranking * Understand the how to evaluate search ad programs including pricing, cost-per-click, and cost-per-conversion

12:30PM - 2:00PM Networking Lunch

2:00PM - 5:00PM Social Network Analytics & Viral Product Design * Understand why (social) networks are so critical to demand prediction and marketing * Understand the importance of causal statistical estimation in effective social network marketing efforts, particularly in choosing between and implementing a) network targeting and b) peer-to-peer (viral) marketing * Understand viral product design and its implications for a) social contagion in product adoption, b) sustained product use, and c) the relationship between the two * Understand how digital identity is underpinning the future of personalized social advertising * Understand economic network effects and why they are so essential to digital strategy

DAY 2 SAMPLE

9:00AM - 10:30AM Social Listening: Ratings, Reviews, & Demand * Understand social influence bias, how it affects consumer opinions and what it means for your reputation strategy * Understand the economic value of unstructured user-generated content (UGC): a. Sentiment / grammar b. Deriving price premiums for product features from UGC c. Impact on sales d. Impact of customer satisfaction e. The textual dimensions of online reputation

10:30AM - 11:00AM Break

11:00AM - 12:30PM Digital Mining & Digital CRM Strategy

  • Harrah's Case Discussion

12:30PM - 2:00PM Networking Lunch

2:00PM - 3:30PM Web Analytics

  • Understand web analytics across five key dimensions: clickstream, outcomes, experimentation, customer voice, and competitors
  • Understand the key elements of clickstream data and resultant metrics
  • Understand the basic process of experimentation, AB testing, multivariate testing, and best practices

3:30PM - 4:00PM Break

4:00PM - 5:30PM Mobile Commerce & Analytics

  • Discuss why mobile is so potentially disruptive, transformative
  • Understand how travel patterns affect mobile ad targeting
  • Understand how mobile is used for m-commerce
  • Understand cross media advertising
  • Understand multi-screen behavior
  • Understand mobile app use and retention
  • Understand in-app commerce and advertising

Who should attend

This course is designed for business leaders seeking a deeper understanding of the digital marketing ecosystem and is particularly relevant for:

  • Chief marketing officers (CMOs) and direct reports
  • Marketing managers
  • Product managers and product development managers
  • CIOs and direct reports
  • Chief data scientists and data managers
  • Corporate strategists
  • Agency executives
  • Anyone interested in social media, measure ROI from social media The content of this course is relevant to any businesses and brand that seeks to benefit from digital marketing strategy, as well as marketing providers, digital agencies, third party digital marketing firms, display ad firms, B2B and B2C marketing companies, data science companies, and firms that provide data within the digital marketing ecosystem.

Experts

Sinan Aral is the David Austin Professor of Management at MIT, where he is a Professor of IT & Marketing, and Professor in the Institute for Data, Systems and Society where he co-leads MIT’s Initiative on the Digital Economy. He was the chief scientist at SocialAmp, one of the first social c...

Next dates

Oct 24—25
2 days
Cambridge, Massachusetts, United States
USD 4100
USD 2050 per day

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