Marketing analytics: Know your customers from Coursera

What's inside

Syllabus

The primacy of customer value

You know how much of your product/service you’re selling (hopefully), but do you understand how each customer fits into the mix? Businesses need to move from a product-centric model to a customer-centric model as changes in society and technology place more power in the customer’s hands. This week you will learn about the importance of valuing your customers – and how to uncover that value.

Types of customer data

Once you understand the importance of customer value, you will want to get your hands on all the data you can about your customers, to help you decide how best to serve them. However, beware: Not all customer data is equal. This week you will learn about the importance of balance. - Balancing how easy it is to gather and analyse against its relevance to your business. +-Balancing the relevance/importance of data you could or should be gathering against the cost of obtaining that data. Finding the balance between relying on the types of data you’ve always used against the promises made about data obtained by digital means. Working out how to weigh up the relative usefulness and importance of disparate types of data.

Tools for analysing customer data

Unless you’re working for a large multinational firm, it’s highly likely that the cost of gathering and analysing the optimal amount of relevant customer data is more than you can afford. However, there are many cloud-based, software as a service (SAAS) tools available that make robust analysis achievable. This week we will explore the types of tools used by both large and small businesses for customer data and analysis and identify which questions will help you determine which ones are most relevant to you.

Combining tools for meaningful insight

Once you have decided which types of customer data are relevant, achievable and affordable, and then gathered all the information on customers that you can, how do you turn it into something useful (for both you and your customer)? This week we explore how to combine different forms of data to create a meaningful picture of your customers. Using the customer-centric frameworks developed earlier in this unit, we consider how to best understand your customers, what they want, and how you can re-tool your business to meet their needs.

Using customer data to drive strategy

The biggest problem with data and analytics is that it’s all backward-looking; you’re reviewing what’s happened in the past. How do you use your deeper understanding of your customers to develop and innovate? Here’s where the creativity comes in. This week we look at how to blend the insights learned about your customers with other information to create solutions that help bridge the gap between your customers’ current and aspired selves and unlock growth in your business.

Using digital and social marketing to improve customer value

Some experts have said that customers are now all online, so brands need to move all their promotional effort from traditional media to digital media, particularly social media. Despite the growing numbers of online/social media users and declining audiences for traditional media, it’s not that simple. People go online for different reasons and while consuming tools such as social media, they’re less receptive to brand messaging. Following on from everything we’ve learned in this unit, this week we will focus on how to use digital media to optimise customer value, as opposed to engaging in interruption marketing.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Examines business models that put customers first

Provides a comprehensive study of customer data analytics

Covers the integration of online and offline customer data

Presented by recognized industry experts

Uses industry-standard tools and software

May require students to purchase additional tools

Reviews summary

Engaging marketing course

Learners say that Marketing analytics: Know your customers is an engaging and informative course that is well-suited for beginners. Students describe the instructor as excellent and say that the course provides clear and practical lessons. While students say that readings can be lengthy, they appreciate the additional resources such as podcasts and TED Talks. Overall, students highly recommend this course for those interested in learning more about marketing analytics.

Well structured course.

"good course thank you"

"Very well structured course"

"Nicely taught yet practical and effective course!"

Helpful resources.

"clear and well done"

"good course thank you"

"Very helpful videos and resources"

"Excellent Course videos, training aids and survey reports"

Informative content.

"good marketing skills mentioned"

"Very informative and very useful"

"Very helpful videos and resources"

"Outstanding course."

"Excellent Course videos, training aids and survey reports"

"This is very important for the growth of any organization"

"very informative and enjoyable subjects and inspiring videos"

"The content was easy to grasp and the resources were very relatable."

"This course gave me numerous and realistic knowledge ever!"

"Excellent course! I learned a lot about the markets"

"Es un curso muy completo que te ayuda a comprender"

"Having completed the entire course (all 4 modules) I can easily say that it is the most interesting part of the training."

"Muy interesante, enfocado en los puntos más importantes y útiles"

"Very Informative"

"Very useful course"

Mostly positive reviews.

"nice"

"good"

"Great"

"Awesome"

"perfect"

"inspiring"

"Excellent"

"Very Useful"

"Very Informative"

"Awesome Course!!"

"Very nicely explained!"

"Very informative course"

"Very insightful and comprehensive..."

"it was very educational."

"Very engaging course"

"Very helpful course ....."

"The course was really helpful"

"Very intresting and rich course."

"I got more knowledge from this course."

"Great course."

"This in an excellent course..."

"This course provides great insights"

"Very well explained, "

"This course is amazing that it is absolutely suitable"

"Overall it is still nice."

Lengthy readings.

"Some of the links in the resource section need to be revised as the content they are linked to is no longer available"

"It has great content in general."

"Some of the readings are quite long to read, and there are quite many podcasts, which is quite difficult for me who is a weak English-listener."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Marketing analytics: Know your customers with these activities:

Brush up on your marketing basics

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Recall the core principles of marketing to strengthen your foundation for this course.

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Review your notes or textbooks from previous marketing courses
Read articles or blog posts on marketing basics
Complete practice quizzes or exercises on marketing concepts

Read 'Measuring the Value of Your Customers' by Len Berry

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Gain insights into the importance of customer value and how to measure it effectively.

View The Value Profit Chain on Amazon

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Read Chapter 1: The Importance of Customer Value
Read Chapter 2: Measuring Customer Value
Complete the exercises at the end of each chapter

Explore online tutorials on digital marketing channels

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Expand your knowledge of digital marketing channels and effective strategies for reaching customers online.

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Identify the digital marketing channels relevant to your business
Find reputable online tutorials or courses on these channels
Follow the tutorials and complete any exercises or assignments

Six other activities

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Develop a customer value proposition for your own business or a hypothetical one

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Apply the concepts of customer value to create a compelling value proposition that resonates with customers.

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Identify your target customers and their needs
Define the unique benefits and value you offer
Create a clear and concise statement that communicates your value proposition

Join a study group or online forum to discuss marketing analytics concepts

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Engage with other learners to clarify concepts, share insights, and gain diverse perspectives.

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Join a study group or online forum related to marketing analytics
Participate in discussions, ask questions, and share your own understanding
Collaborate on projects or assignments with other group members

Analyze marketing metrics using Google Analytics or a similar tool

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Gain hands-on experience in analyzing marketing data to understand customer behavior and campaign effectiveness.

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Set up Google Analytics or a similar tool for your website or business
Monitor key metrics such as website traffic, conversion rates, and customer engagement
Analyze data to identify trends, patterns, and areas for improvement

Attend a workshop on data analytics for marketing

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Gain practical skills and insights from industry experts in data analytics and its application to marketing.

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Identify and register for a relevant workshop
Attend the workshop and actively engage with the content
Apply the techniques and knowledge gained to your own marketing efforts

Develop a marketing plan for a new product or service launch

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Synthesize the concepts learned in the course to create a comprehensive marketing plan for a real-world scenario.

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Define the target market and their needs
Conduct market research to identify opportunities and threats
Develop marketing strategies and tactics for each stage of the customer journey
Create a detailed marketing budget and timeline

Offer mentorship to junior marketers or students

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Deepen your understanding by sharing your knowledge and experience with others, solidifying your own learning.

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Identify opportunities to mentor junior marketers or students
Provide guidance and support on marketing concepts and practices
Facilitate discussions and provide feedback to help mentees develop their skills

Career center

Learners who complete Marketing analytics: Know your customers will develop knowledge and skills that may be useful to these careers:

Marketing Manager

Marketing Managers are responsible for developing and executing marketing campaigns. They work with a variety of teams across the organization, including product development, sales, and customer service. A Marketing Manager who takes this course will be better equipped to make data-driven decisions that improve customer value.

See salaries and explore the career path for Marketing Manager

Marketing Analyst

A Marketing Analyst can work in a variety of industries and at companies of all sizes. The common thread is that they help companies with marketing decisions. This course will be particularly helpful for those who wish to join or advance in this field, as it will help build a foundation in the field of marketing analytics, which is the core component of this course.

See salaries and explore the career path for Marketing Analyst

Product Manager

Product Managers are responsible for the development and launch of new products. They work with a variety of stakeholders, including engineers, designers, and marketers. A Product Manager who takes this course will be better able to understand the needs of customers and develop products that meet those needs.

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Customer Success Manager

Customer Success Managers are responsible for ensuring that customers are successful with a company's products or services. They work with customers to identify their needs and develop solutions. A Customer Success Manager who takes this course will be better able to understand the customer journey and develop strategies to improve customer retention.

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Data Analyst

Data Analysts collect, analyze, and interpret data to help businesses make better decisions. They work with a variety of data sources, including customer data, financial data, and social media data. A Data Analyst who takes this course will be better able to use marketing analytics to improve customer value.

See salaries and explore the career path for Data Analyst

Sales Manager

Sales Managers are responsible for leading and motivating sales teams. They work with sales representatives to develop and execute sales strategies. A Sales Manager who takes this course will be better able to use marketing analytics to improve sales performance.

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Market Researcher

Market Researchers conduct research to understand the needs of customers. They use a variety of methods, including surveys, interviews, and focus groups. A Market Researcher who takes this course will be better able to develop effective marketing campaigns that target the right customers.

See salaries and explore the career path for Market Researcher

Social Media Manager

Social Media Managers are responsible for developing and executing social media campaigns. They work with a variety of platforms, including Facebook, Twitter, and Instagram. A Social Media Manager who takes this course will be better able to use marketing analytics to measure the effectiveness of social media campaigns.

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Content Marketing Manager

Content Marketing Managers are responsible for developing and executing content marketing campaigns. They work with a variety of content types, including blog posts, articles, and videos. A Content Marketing Manager who takes this course will be better able to use marketing analytics to measure the effectiveness of content marketing campaigns.

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Digital Marketing Manager

Digital Marketing Managers are responsible for developing and executing digital marketing campaigns. They work with a variety of digital channels, including search engine optimization (SEO), pay-per-click (PPC), and social media. A Digital Marketing Manager who takes this course will be better able to use marketing analytics to measure the effectiveness of digital marketing campaigns.

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eCommerce Manager

Ecommerce Managers are responsible for developing and executing ecommerce strategies. They work with a variety of teams, including marketing, sales, and customer service. An Ecommerce Manager who takes this course will be better able to use marketing analytics to improve the customer experience and increase sales.

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Customer Relationship Manager (CRM)

Customer Relationship Managers (CRMs) are responsible for managing relationships with customers. They work with customers to identify their needs and develop solutions. A CRM who takes this course will be better able to use marketing analytics to improve customer retention.

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Business Analyst

Business Analysts work with businesses to identify and solve problems. They use a variety of tools and techniques, including data analysis and process mapping. A Business Analyst who takes this course will be better able to use marketing analytics to improve business performance.

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Management Consultant

Management Consultants work with businesses to improve their performance. They use a variety of tools and techniques, including data analysis and process mapping. A Management Consultant who takes this course will be better able to use marketing analytics to help businesses make better decisions.

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Marketing Professor

Marketing Professors teach marketing at universities and colleges. They conduct research and publish articles in academic journals. A Marketing Professor who takes this course will be better able to teach marketing analytics to students.

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