Marketing Terms You Should Know
There is a long list of terminologies and acronyms you should know about when you start to make any type of online business. They are one of the most primary factors for you to analyze your business status and have a plan for further development. In this marketing glossary, I have briefly defined a list of words that I think it is essential so that you can easily digest the deep analysis in your campaigns.
A/B testing (also known as split testing or bucket testing) is a method of comparing two versions of a web page or app against each other to determine which one has a better effective performance.
The bounce rate is used in web traffic analysis. It shows the percentage of visitors who enter the site and then leave rather than continuing to view other pages within the same site. When this percentage is small, it means the site is positively working, the site contents and design are attractive to users
The term B2B is pretty straightforward and describes a business conducted when selling a product or service between two businesses.
The term business-to-consumer (B2C) refers to the process of selling products and services directly between a business and consumers who are the end-users of its products or services. Most companies that sell directly to consumers can be referred to as B2C companies.
Brand awareness is the level of recognition of customers to a brand.
A strategic form of pricing intended to cover the expenses of running your business.
In this advertisement, a company will make a direct comparison of the strengths of their products to others’ brands.
Customer Acquisition Cost
A measurement that allows you to assess the cost of scaling up your business. It can be calculated by dividing the time and money spent on customer acquisition for a specific period by the number of new customers gained.
(Money + Time Spent)/Number of New Customers
This is a study of particular groups by criteria such as age, gender, income, family life, social class, etc. It’s often used to segment markets then plans specific marketing strategies for each area.
An engagement rate is a metric that measures the level of engagement that a piece of created content is receiving from an audience. It shows how much people interact with the content. Factors that influence engagement include users’ comments, shares, likes, and more.
Evergreen content is SEO content that is constantly relevant and interesting to readers, besides it isn’t outdated.
A prediction of marketing results or trends that is most likely to happen in the future based on past and present data.
This is a type of market divided based on customer demand of particular areas. It consists of the groups by country, state, region, city or even neighborhood.
It is a word or phrase put behind a hash sign (#), used on social media websites and applications to interact with their audience about specific topics.
Ideal Customer Profile (ICP)
An ideal customer profile is a description of a customer fitting all standards that you are looking for.
A type of content that is graphic visual representations of information, data, or knowledge intended to present information easy to understand and digest.
This is a marketing strategy of the company when promoting products and services to employees within their organization. The goal is to increase employee engagement and spread brand awareness.
Inbound marketing is an effective way to find customers by creating valuable content to attract them rather than bothering them with spam or offensive ads.
Key Performance Indicator (KPI)
A Key Performance Indicator is the metrics measured from the performance of crucial factors for the success of a company, including sales, marketing, HR, support, and others.
Lead nurturing is the process of building relationships with customers at every stage of the sales funnel. This is the essential stage of the success of your marketing efforts and sales strategies.
Lead qualification is a criteria to classify a qualified sales or marketing lead from a prospect who will ultimately make a purchase.
Middle of the Funnel (MOFU)
Middle of the funnel is the most important stage, after getting the databases from leads, brands start classifying in the phase to deliver relevant products or features to the right people to generate purchases.
Monthly Recurring Revenue (MRR)
The amount of income that a business can receive every month from subscriptions to your products or services.
A niche market is a segment of a specific market, and it aims to target narrower or unique needs.
Onboarding refers to a process of presenting a new product to customers or clients or it’s used to describe training a new employee into your organization.
This is an asset that you’ll offer prospects on a landing page. The offer is designed to help you generate leads, and they can include everything from a webinar, ebook, checklist, template, demo, and more.
Outbound marketing is promoting a product through continued advertising, promotions, public relations, and sales. It is considered to be an annoying version of the traditional way of doing marketing whereby companies focus on finding customers through advertising
This is the traffic your site receives from unpaid search results, hence it is considered organic. This is one of the main goals of SEO and content marketing because it provides a powerful platform for long-term growth.
Public Relations (PR)
PR is a variety of ad activities such as promotion and marketing strategies the image of the company to the public implemented by organizations.
A qualified lead is someone who could become a potential customer to you, based on criteria and identifying information that they have freely provided
Responsive Web Design (RWD)
Responsive web design is a design that makes web pages adapted to any device and window or screen sizes. A site designed with RWD adapts the layout to the viewing environment by using fluid, proportion-based grids, flexible images, and CSS3 media queries.
The purchase funnel (or purchasing funnel) demonstrates a whole sales process. It is divided based on a customer’s action when purchasing a good or service. There are 4 following phases: awareness, interest, desire, action.
Subject Matter Expert
A person who has special skills and knowledge in a particular area, industry, or topic.
Top of the Funnel (TOFU)
Top of funnel marketing is the initial stage of the purchase funnel. In this stage, brands focus on generating leads by spreading brand awareness.
Target Market is a group of specific customers who are most likely to buy or use a company’s products and services.
Touchpoint is any interaction that a brand has with prospective customers or current customers.
Customer engagement is an evaluation of a consumer’s reaction to a product, a service, or a website. The level of engagement may be determined directly through interaction or may be assessed through observation of the user’s behaviors.
Value statements are a list of promises and ethics of each organization to its customers and employees.
Web traffic is generated when visitors visit the website. This necessarily does not include the traffic generated by bots.
You can refer to this page on this site to know more marketing glossary.