Trying to navigate the world of marketing can be like trying to find your way through a maze. There’s so much to learn, understand, and dozens of different terms to get your head around when considering strategies to take your business to the next level.
And this is exactly why we at markITwrite have compiled a comprehensive list of must-know marketing terms for 2019, each with a simple explanation as to what they mean.
A/B Testing or Split Testing: In order to know which version of your advertisement, landing page, tweet, or any other marketing asset performs best, you need to run an A/B test, otherwise known as a split test. This is where you display two different versions of the same content to two different control groups and measure the results. If version A achieves more conversions than version B, then you know to roll out version A to the remainder of your audience.
Advertising: Shining a spotlight on a specific product, service or business through paid advertising. This is done either online or in print.
Analytics: Tracking data and extracting meaningful patterns from it which you can then use to inform future endeavours in marketing. This data can come from a number of places including web traffic, conversations, and social media statistics.
B2B/ Business-to-Business: Refers to a business that sells products or services to other businesses rather than individual consumers.
B2C/ Business-to-Consumer: Describes a business that markets and sells products or services directly to consumers.
Bounce Rate: Percentage of website visitors who arrive at a particular page and then leave (i.e. “bounce”) the site again after only viewing that one page.
BoFu/Bottom of the Funnel: Stage of the marketing and sales funnel a prospect reaches when ready to make a purchase. BoFu content is designed to encourage the prospect over the final line, and may include things like special offers, case studies, or direct emails.
Branding/Brand Strategies: In marketing, branding is much more than a trademark, logo, strapline, or colour scheme – rather, it is the entire “personality” of the business. Brand strategies are designed to create an emotional connection with audiences, often formed around feelings of things like trust, reliability, quality, affordability, etc.
CAC/Customer Acquisition Costs: The total cost of acquiring new customers, including all marketing expenses (salaries, software costs, advertisements, design costs, and all other expenditures). Calculated by dividing all costs spent during a given period by the number of new customers acquired.
Cold Calling: The process of contacting – either by phone, email, or knocking on doors in-person – individuals who have not previously expressed interest in the products or services your company offers.
Comparative Advertising: Where a company presents its product or service as superior when compared to a competitor’s.
Content Marketing: A marketing strategy in which highly valuable and relevant content is created and strategically distributed online in order to attract and acquire a clearly defined audience.
Conversion: Any desired action a web visitor takes, such as downloading an eBook, clicking a link, or completing a purchase.
Conversion Path: The path or course of actions that a prospect takes along the road to a conversion.
Conversion Rate: This is the percentage of people who take a desired action from your marketing campaigns – for example, filling in a form, signing up to a newsletter, or completing a purchase.
Corporate Identity: The manner in which an organization presents itself to the public. Includes all symbols, colours and logos that the organization uses to make a visual statement about itself, including its values and company culture.
CPL/Cost Per Lead and CPC/Cost Per Click: CPL is an online advertising pricing model that shows the revenue earned by a publisher when a lead is created for an advertiser. For example, the publisher places an ad for a new SaaS product on his/her website directing users to sign up to the free trial of the service. If a user clicks on the link and subsequently signs up to the free trial, a lead has been generated for the advertising company, and the publisher of the ad is paid a certain amount based on the CPL. CPL differs from cost-per-click (CPC) models where publishers are paid per click on an ad – with CPL, publishers are only paid when a lead is generated.
CRM/Customer Relationship Management: Software that helps you organise all your marketing and sales activities, including storing contact information, tracking emails and campaign activity, segmenting audiences, etc.
CTR/Click-Through Rate: The percentage of people who click on your ad, post, tweet, email or other link after seeing it.
CTA/Call-To-Action: Refers to the next step you want your audience to take. For example, the CTA at the bottom of a blog post might instruct the reader to “Download our free eBook”. In an email or on a landing page, the CTA might be to “Subscribe to our newsletter”. On a product page, the CTA might simply be the “Buy now” button. As a rule of thumb, your CTA should be big, bold, and grab the customer’s attention – though marketers should conduct A/B testing (see above) to test the effectiveness of their CTAs.
Customer Loyalty: When a customer is a repeat buyer of your product or repeat user of your services. Customer loyalty is measured by the likelihood of existing customers continuing to buy from your company in the future.
Demographics: An audience’s characteristics, e.g. age, gender, income, family life, social class, etc. Demographic information is often used to segment audiences for marketing campaigns and advertising strategies.
Digital Marketing/Online Marketing: Marketing activity that takes place via the internet. Includes email marketing, content marketing, etc.
Direct Competition: Rival businesses that provide the exact same products/services as your business.
Direct Mail: Marketing materials that are mailed directly to the homes of customers or offices of business buyers.
Direct Marketing: The distribution of a marketing message or sales pitch directly to a potential customer, usually delivered via email, text, or direct mail. Generally, direct marketing will come directly from the company itself, rather than via advertising media or a third party.
Earned Media: Any material or content created about your business that you haven’t paid for or created yourself. For example, when a blogger or YouTuber publishes content about your product because they rate it so highly and want to tell others about it. A brand earns media when people start talking about it in a good way. As such, earned media is considered to be the most trusted form of advertising available to a company.
eBooks: Short for “electronic book”, eBooks are generally long-form publications that users can read and view on electronic devices. Often used in marketing to generate leads, whereby the user exchanges their contact information for access to the eBook.
Ecommerce: Refers to the selling of products digitally via the internet.
Email Marketing: The strategy of sending emails directly to prospects and customers. Helps organizations interact with audiences directly, while simultaneously promoting the brand and creating new sales opportunities.
Engagement Rate: A measurement of likes, shares, comments or other interactions a particular piece of marketing content receives.
Evergreen Content: Content that is valuable to a reader today, in five years’ time and in ten years’ time. Evergreen content is timeless, and offers the highest quality information as well as huge SEO benefits.
Forecasting: A prediction of marketing and sales trends that are likely to occur in the future. These predictions are often based on historical, quantitative and qualitive data.
Friction: Refers to a “sticking point” in the customer journey, such as a hard-to-navigate webpage or complicated checkout process.
Geographic Segmentation: Segmenting an audience into different groups based on where they live or are located.
Hashtag: A keyword or phrase preceded by the hash sign – #. Used in social media marketing to identify content and messages surrounding a certain topic. E.g. #ContentMarketing
Inbound Marketing: Using content – including blogs, eBooks, social media posts, videos, etc. – to draw visitors and potential customers in, rather than outwardly pushing a brand through cold calling, paid advertising, and other types of outbound or “interruptive” marketing.
Infographics: Visual representations of data and other information. Used to make complex information, key facts or statistics easy to understand and remember.
Keyword: The word or phrase used when performing a search on Google or another search engine. For SEO purposes, marketers need to ensure that the content they publish contains an optimal density of relevant keywords that match up with what internet users are searching for.
KPI/ Key Performance Indicator: A measurable value that allows companies, departments, projects, or individuals to measure how well they are performing in relation to key business objectives. For example, leads generated, return on marketing investments, marketing spend per customer, etc.
Landing Page: A standalone web page created specifically for a particular marketing campaign. Landing pages appear in response to clicking on a particular marketing promotion, such as a marketing email, online advertisement, or other CTA. Landing pages typically have one sole purpose – usually to make a sale or capture a lead’s contact information via a web form.
Lead: An individual or company that has expressed an interest in one of your products or services. Generally, this interest is expressed by sharing contact information, such as an email address.
Lead Nurturing: Engaging and building relationships with known leads through email marketing and various other marketing techniques.
Lookalike Audiences: First initiated by Facebook, a lookalike audience is “an algorithmically-assembled group of social network members who resemble, in some way, another group of members”. Aids marketers in targeting potential new customers who are likely to share similar interests, tastes and behaviours as existing ones.
Marketing Automation: Refers to technology that allows companies to automate marketing campaigns or parts of them, such as email campaigns, segmentation, and lead nurturing.
Market Based Pricing: A pricing strategy whereby the process of setting the prices for goods or services is based on current market conditions. The company compares its own prices with those of its competitors and makes adjustments accordingly.
Market Penetration: The successful selling of a product or service in a given market, measured by how much that product or service is being bought or used by customers compared to the total estimated market for that product or service.
Market Research: The process of gathering, analysing and interpreting information about target customer’s needs and preferences. Used to determine the viability and potential (or not) of a new service or product in a given market.
Meta Description: Short summary of a web page’s content displayed in search results beneath the link to the page. Meta descriptions impact a page’s SEO ranking and so should be keyword-optimized to help the page rank highly.
Metrics: Measurable values used by marketing departments to demonstrate effectiveness of campaigns across various marketing channels.
Monthly Recurring Revenue: The amount of income a business can count on receiving each month from subscriptions to services. In this sense, monthly recurring revenue is predictable revenue.
MoFu/Middle-of-the-Funnel: The stage of the marketing and sales funnel a prospect reaches after taking certain actions that qualifies them as an MQL (see above). Leads at the MoFu stage of the funnel are deemed to be in genuine need of the product or service you are offering, and thereby fairly-to-highly likely to buy. They will be comparing your offering and your company against all other competitors, so they still need plenty of nurturing before they commit to a purchase.
MQL/ Marketing Qualified Lead: A lead that is deemed more likely to convert to a paying customer compared to other leads. MQLs will have had some sort of positive interaction with the company, such as downloading a certain piece of content or engaging in a phone call. This qualifies the lead for additional marketing, though may not be ready for a sales call at this stage.
Niche Market: A specific segment of a given market suitable for focussed attention. A niche market is created by identifying specific wants or needs of a small group within a larger and more established market that are not currently being addressed by competitors.
Opportunity: A lead near the bottom of the sales funnel who is in receipt of sales correspondence and deemed ready to buy.
Personas: Semi-fictionalised representations of your ideal customers. Buyer personas and marketing personas are used to create profiles of your target audience, and contain information about demographics, salary level, buying power, education, psychographics, etc. Used in the creation of content to ensure messages are targeted at the right people.
PPC/Pay Per Click: A method of advertising on the internet where you only pay when someone clicks on your advertisement.
Press Release: An official written announcement introducing a new product, service, feature, research paper or other development from a company. Issued to the news media in the hope that journalists and bloggers will pick up the information and create an article based on it.
Referral: A new lead or customer that is generated by being referred by an existing customer. Referral marketing usually rewards existing customers for making referrals in some way. For example, cloud storage firm Dropbox allows its users to earn extra storage space by referring new people to the service.
Remarketing/Retargeting: A cookie-based technology that allows marketers to retarget web visitors who have viewed a product or otherwise engaged with a website previously without converting. The cookie sends information back to the retargeting provider, which will then display ads for the same product around the web as the user browses other sites.
Responsive Design: A website that adapts to the device the consumer uses. Mobiles, laptops and desktops offer different views of a site, and responsive design ensures that the site adjusts itself to accommodate for each view.
ROI/ Return on Investment: A way to measure the profitability of the investments you are making in marketing and sales, usually expressed as a percentage. For example, if you spend £100 on a Facebook ad campaign and generate £150 in sales from it, the ROI would be 50%.
Sales Funnel: The entire sales process as a whole. The journey from prospect to paying customer and all of the marketing, advertising and sales processes in between. Described as being funnel-shaped – i.e. gets narrower the further down it goes – as there are generally more people aware of a brand than there are people genuinely interested in buying from it, and more people interested in buying than there are people who actually make a purchase.
SEO/Search Engine Optimisation: Optimising a website so it performs highly in organic search engine results for relevant keywords. As such, keywords play a vital role in SEO, but many other factors including inbound links, meta descriptions, images, etc. are also important.
SQL/Sales Qualified Lead: A lead that has first been educated and vetted by the marketing department and subsequently approved by the sales team as a genuine sales prospect. SQLs are deemed ready to receive a direct sales call.
Smarketing: The integration of sales and marketing.
Social Media Marketing: A form of internet marketing that involves creating and sharing content on social networks such as Facebook, Twitter and Instagram in order to raise brand awareness, connect with audiences, and drive traffic to a company’s website.
S.W.O.T Analysis: An internal study used by organisations to identify Strengths, Weaknesses, Opportunities, Threats of a marketing campaign.
Target Audience: A group of prospects or customers with a certain set of defined attributes for whom the marketing team will design tailored messages.
ToFu/Top of the Funnel: The first stage of the marketing and sales funnel. Marketers create ToFu content – often referred to as “light” content – such as blog posts, social media posts and promotional videos to pull a large pool of people towards the company’s website in the hope that some will move through to the MoFu and BoFu stages (see above).
UGC/User Generated Content: Any content created by unpaid contributors that makes reference to your brand or business. Brands create their own UGC strategies whereby they encourage fans and followers to, for instance, post a photo of themselves using the brand’s product on social media.
USP/Unique Selling Proposition/Point: A factor that differentiates your product from its competitors – for example, low cost or the quality of the product or service.
Value Statement: A declaration of a company’s top priorities and core beliefs, used to both connect with target customers and guide employees’ actions.
Video Marketing: Any video-based content a brand produces for promotional purposes, including how-to guides, interviews, behind-the-scenes shorts, and promotional overviews.
Webinar: A live learning experience conducted by brands where prospects, customers, and subscribers are invited to attend a live, web-based event. Webinars often include visuals, presentations and slides, and the audience will usually be invited to ask questions to the host at the end. Used as a form of lead generation, for thought leadership, or to nurture deeper connections with existing customers.
White Paper: An in-depth report on a specific topic, usually identifying a problem and offering a range of solutions – one of which will typically be the organization’s own product or service. Used to educate audiences, or to explain or promote the particular methodology the organisation uses. White papers are also typically used to capture contact information and generate leads.
There you have our crash course of some of the most commonly used terminology in the marketing industry. Hopefully you'll now find yourself better equipped to navigate the world of digital marketing and the terms us marketers use.
If you're looking for a team of marketers who have the knowledge and expertise to help your business thrive in the digital age, look no further than markITwrite. Our team of quality writers always have the right words to get your message across.
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26-09-2019 - Martin Butters