Debunking Marketing Jargon for 'new to marketing' businesses!
As a marketing consultant for small and growing B2B businesses, I understand how overwhelming it can be to navigate the marketing world, especially for those new to the game. One of my 'new to marketing' clients' most significant challenges is understanding the plethora of acronyms and terms thrown around in both traditional and digital marketing spheres.
That's why I've compiled this handy guide to help debunk some of the most common marketing jargon you might encounter on your journey:
A/B Testing: A/B testing, or split testing, compares the effectiveness of two nearly identical campaigns. For example, how well does the ad perform if we change the title or the image?
Analytics: Analytics report meaningful data, such as website views, clicks on a newsletter, or social media followers. Keeping track of your KPIs regularly is crucial for measuring performance.
Bounce Rate: Bounce rate is the percentage of website visitors who leave almost as soon as they arrive. It's not a metric which is used quite so regularly now, particularly since the launch of Google's GA4 analytics. The GA4 metric is calculated differently to the older analytics system.
In email analytics, this is the number of emails that didn’t go through.
Buyer Persona: A buyer persona is a fictionalised representation of an ideal client. Personas help marketers identify target audiences and help salespeople qualify leads.
Click-Through Rate (CTR): CTR measures the number of website visitors or email subscribers who click deeper into your content.
Content: Content refers to an individual piece of marketing or communication, such as website copy, blog, email, video, or social media post.
Content Management System (CMS): A CMS is a user-friendly tool allowing non-website developers to add content to their websites. My site is on Wix which is really simple to use. Another favourite is WordPress. Both also allows various admin levels, which helps you control who can edit the website, publish blogs, or create a draft that the admin has to approve.
Conversion: Conversion is the process of a prospect becoming a customer. It's often expressed as a percentage or ratio.
Copy: Copy refers to the text of an ad, and copywriting is the act of writing the text for an ad.
Cost Per Impression (CPI): CPI is often expressed as the cost per thousand impressions. Knowing your CPI this helps determine ad effectiveness.
Cost Per Lead (CPL): CPL is calculated by dividing the total cost of a campaign by the number of leads generated. CPL averages will vary significantly by industry. Knowing your CPL will help you determine how cost-effective the campaign was. It would be good to compare to the average for your industry to judge your marketing effectiveness.
CTA (Call To Action): CTA is the part of an ad or communication with the ask. Each ad should contain a CTA. Examples include anything which requires an action - 'Book Now', 'Read Now', or the need to submit an email address to download deeper information or White Papers.
CRM (Customer Relationship Management): CRM is software that keeps track of customer interactions. There are a heap of options, from the free version of Hubspot onwards.
Drip Marketing: Drip marketing is slow and steady communication over time, often via email.
Editorial Calendar: Used by publications to plan the themes or types of content they will cover in each edition or time period. It is a valuable tool for marketing and communications professionals to ensure they cover their objectives and communicate the information customers, employees, and donors need. If you ask a magazine to publish your article, you’ll want to consult the editorial calendar first. If you choose the time that aligns with their calendar, you’re more likely to be published.
Engagement Rate: the amount of interaction with a piece of content often expressed as a percentage of total viewers. For example, how many people liked, shared, or commented on a social media post? Check the industry averages for your social network to see how your posts compare. If you’re not as engaging, you’re probably not sharing the content your audience wants.
Hashtag: Used on social media, hashtags (#) keep track of conversation topics. Popular topics become trending topics garnering lots of attention. Being aware of trending topics can help your posts get attention.
Infographic: An infographic expresses data in a graphic format, making statistics more aesthetically pleasing and easier to interpret.
KPI (Key Performance Indicator): KPIs are measurements important to your business.
Landing Page: A landing page is a website page used for lead generation. This is where Pay Per Click (PPC) ads often direct traffic. An effective landing page will allow visitors to carry out the action suggested by the CTA.
Lead: A lead is a person or company interested in your product or service. Lead generation or lead-gen is the process of identifying, attracting, and converting prospects into customers.
PPC (Pay Per Click): is the amount of money spent to get a click on a digital ad (or the name of the ad type itself). Google AdWords are PPC ads.
Retargeting: Retargeting is a way to give people who have already seen your communication another chance to purchase. Cookies or pixels may keep track of behaviours that indicate to marketers that there may be interest. (This is how that thing you Googled once suddenly shows up in all your newsfeeds.)
ROI (Return on Investment): ROI is a ratio of net income and net cost. How much did you spend on a campaign? How much did it generate in sales? Keeping track of your ROI will help you see where to allocate your marketing budget in the future.
Sales Funnel: A sales funnel is the process of the customer journey.
SEO (Search Engine Optimization): SEO is improving a website’s visibility in search engine results. By using relevant keywords, creating high-quality content, and optimising your site's structure, you can improve your visibility and attract more organic traffic.
Storytelling: Storytelling is telling real or imaginary stories in marketing. Storytelling is used in marketing to help the listener feel something. Stories are memorable. They improve visibility, profit, and impact. When marketers connect emotionally to customers, they’re more likely to purchase. Most of our purchases are emotional, not logical!
UGC (User-Generated Content): UGC is content from real people, not the marketing department. You want your visitors to post pictures and videos of your business! People trust UGC more than content that comes from the company directly.
Value Proposition: A value proposition is a statement or positioning in the market that makes your company appealing.
Viral: Viral is a marketing or communication piece that circulates rapidly and widely.
By familiarising yourself with these common marketing terms, acronyms, and metrics, you'll be better equipped to navigate the ever-changing marketing landscape and make informed decisions about your business's marketing strategy.
And remember, if you ever feel overwhelmed or need clarification, feel free to reach out via my free 30-minute chat!