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Digital marketing encompasses all marketing efforts that use an electronic device or the internet. The modern customer spends a lot of time online, uses multiple digital channels/platforms and has abundance of choices for most products/services. Businesses can personalize their marketing efforts and target relevant segments by leveraging digital channels such as search engines, social media, email, and their websites to connect with current and prospective customers.
Social media is as much about engagement with other people as it is about sharing content. The rise of Internet and social media platforms like FB, YouTube has ensured that use of social media as a platform for engaging with their customers and the insights from data from social media has become a key to running a successful business. Effective social media engagement strategies can enable powerful customer interaction mediums that power significant customer growth and profitability.
Fraud can be defined as deceitful actions by the parties involved in a transaction where the deceitful party gains at the cost of others. Because of the complexity of the current business processes, a lot of vulnerabilities occur in the system that are leveraged by fraudsters. Fraud Management consists of strategies and tactics that can be employed by companies to reduce/prevention fraud.
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Sales force effectiveness (SFE) is a strategy that enables the sales force of an organization to target the bulk of their efforts towards highly profitable customers and limit coverage of less profitable prospects. It also involves strategies to track and remediate the performance of the existing salesforce to maximize their performance efficiency both on an individual level and team level. The purpose of SFE is to increase company revenues through increased customer acquisition, product/service sales, and up-selling/cross-selling additional products and services.
SFE problems are predominantly seen in Pharma domain. However, we have tried to make this more comprehensive including other domains as well.
The more a marketing paradigm evolves, the more long-term relationship with customers gains its importance. Nowadays most of corporations and firms in the world, including manufacturers and servicers, increasingly gain their incomes and profits through constructing and maintaining long-term relationship with customers. Effective customer lifecycle management (CLCM) can enable powerful customer interaction strategies that power significant business growth and profitability.
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Marketing Mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. The following 4Ps make up a typical marketing mix - Product, Price, Place and Promotion.
Marketing Mix Modeling (MMM) is a statistical analysis on sales and marketing time series data to estimate the impact of various marketing tactics on sales and then forecast the impact of future sets of tactics.
Real world data (RWD) holds various facets of a patient’s medical journey. RWD covers breadth of data for millions of patients that span across EMR, claims and survey databases, but the data has content, quality and continuity issues. Pharmaceutical companies across industry would like to leverage this data to identify opportunities and bring down costs.
Digital marketing strategy is planning or designing a company’s online/digital marketing presence to acquire, retain or engage with customers.
Click-through rate (CTR) is the ratio of users who click on a specific link to the number of total users who view a page, email, or advertisement. It is commonly used to measure the success of an online advertising campaign for a particular website as well as the effectiveness of email campaigns.
This course will aid in understanding different classification techniques used to predict the click success for various instances of an ad campaign.
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Demand forecasting is comprised of a series of steps that involves anticipation of demand for a product in future under both controllable and non-controllable factors. Predicting right demand of a product enables an organization to: plan and schedule the production and acquire the inputs accordingly, make provisions for finances, formulate a pricing strategy and prepare marketing plans and implement them.
Promotion/Campaign Management is an organized course of action to promote and sell a product, service or business. It’s objectives can also include building brand awareness, increasing market share or market penetration. It includes three main stages i.e., Campaign Design, Campaign Execution and Campaign Measurement.
Sentiment Analysis a.k.a opinion mining is a process of identifying and cataloging a piece of text according to the tone. This text can be tweets, comments, feedback, and even random rants with positive, negative and neutral sentiments associated with them.
The key to running a successful business with the sentiments data is the ability to exploit the unstructured data for actionable insights.
Churn management is the art of identifying the valuable customers, who are likely to churn from a company and executing proactive steps to retain them. This problem space explains the prediction of churn customers through risk assessment and the proactive retention measures taken towards winning back those customers.