Marketing Terms You Should Know and Understand for Your Business
Whether you’re a start-up business or an existing enterprise, it’s vital that you know and understands the different marketing terms.
Remember that effective communication is a vital tool for any business owner.
However, we have the so-called messaging barriers. These are few factors that caused business and customer-relation misunderstanding and miscommunication.
So if you want to drive more traffic to your website and convert them into leads for potential conversion, it’s crucial to eliminate these obstacles.
The Business Buzzwords!
One very common problem when it comes to corporate communication is the use of the business jargon. These are marketing terminologies particularly used to do business.
There is no replacement for these words. But, they can be clearly defined for everyone’s better understanding.
We are giving you few words that are commonly used in business transactions that you might not know. These aren’t just fun words but these are thematically important.
This will help you navigate today’s whole new world of digital marketing.
‘Because to be able to become a successful corporate leader, you have to know what you’re talking about…’
20 Marketing Terms To ‘Must Know and Understand’
Analytics is essentially the discovery and communication of meaningful patterns in your campaign marketing data. It’s the interpretation of the digits or written report on various aspects of your marketing strategy.
You can access your business analytics through a digital corporate tool. You can also find results on different marketing platforms like YouTube.
Although advertising is a very common word that you encounter every day, it has a deeper meaning that you need to understand.
Advertising can be any free or paid print or digital broadcasting material. It aims to highlight the good qualities and benefits of a product or service.
There are various types of advertising method that you are free to try. However, you have to make sure that the promotional campaign you’ll choose is something that’s going to give your business positive impact.
3. A/B Testing
A/B testing or also known as split testing is a process of comparing two versions of a web page to see which one performs better.
The purpose of this method is to find out which of your marketing strategies are performing best in order to help improve the low parts.
This is crucial because for your business to grow, you must locate the stagnant development corporate field. A/B testing is one way to find out.
The algorithm is very important in digital marketing. It shows you what your visitors like the most to see in your content. It’s also known as predictive analytics because you can easily see results from direct responses from your target audience.
There are different marketing platforms that provide algorithm. Some are free but for more accurate results, you have to pay for the services.
5. B2B (Business-to-Business)
B2B or Business-to-Business is a marketing terminology used to describe companies that sell to other businesses. It’s a simplified corporate jargon of commerce transactions that are based on the exchange of products and services from one business to another.
6. B2C (Business-to-Customer)
B2C or Business-to-Customer is one of the many common marketing terms that you often encounter. This is the selling of goods and services from companies to consumers.
B2C is one significant transaction because it refers to the successful commerce between a company to its target audience.
Blogging is probably one of the marketing terms that we hear over and over again. It’s because we are living in the computer age which makes the Internet a phenomenon.
And when it talks about the Internet, blogging is one of the most significant digital fields.
Blogging is a method when individuals, small business and even large corporations write articles, commentaries and publishing them regularly on their website.
It’s a type of inbound marketing that is proven effective in driving more traffic to a website.
Branding is a crucial marketing terminology. It’s one of the many sales terms that play an important business role. Branding is the process of giving a brand the identity which is easier for a particular group of audience to recognize.
It showcases the traits of your product or services including the story of your organization. Therefore, creating the perfect branding helps you relay your message to the world.
BRC is an acronym for Business Reply Card which is a pre-addressed postcard. This type of card contains the contact information about a business.
BRC is a vital marketing material to consider because it enables a recipient to mail back to the sender for whatever purpose that’s related to whatever was advertised on the mail piece.
BRE is an acronym for Business Reply Envelop. This is the same as BRC, however, it’s in an enveloping form. People who use BRE likes it for its formality appeal.
11. Bounce Rate
Bounce rate is another marketing terminology. This refers to the percentage of people who land on a page on your website and then leave without clicking on anything else or navigating to any other pages on your site.
When you see the rate, you’ll have the idea of whether your marketing strategy or sales funnel is effective or not. Moreover, the bounce rate can motivate you to improve your current marketing strategy.
12. Buyer Persona
The buyer persona is different from the usual buyer that we know. This person is the result of a marketing method to find a specific group of people or type of persons that are going to need your product or service. This is also known as your target audience.
13. Buying Motivation
Buying motivation is one of the marketing terms to know. This is crucial for your business because this is what you need to make sure that you are using the right marketing method to encourage your target audience to buy your product or service.
Aside from quality, buying motivation includes the emotional appeal to make your strategy more effective.
14. CTA (Call-to-Action)
CTA that is the acronym for Call-to-Action is one of the most important marketing terms. You need to have the proper understanding of this marketing terminology because it will help you achieve your marketing goals.
The CTA is the implicit or explicit suggestion contained in a marketer’s content in an advertisement or Web site copy. It’s a short phrase or a single word that motivates and encourages your reader’s or viewers to follow your purchase instructions. You need a strong and effective CTA for every ad.
Clickstream means the order of pages that people are visiting on your site. It is used to indicate what elements of a site are effective, and which are not. This will help you know what page of your website is ineffective.
With that being revealed, you know what particular area you need to improve for more traffic. There are marketing platforms that offer free clickstream tool.
16. Clickthrough Rate
Clickthrough Rate is another marketing terminology that shows you the percentage of your audience that advances from one part of your website to the next step of your marketing campaign.
This is another good source of information because you will know if your website or campaign material is working positively for your brand or business as a whole.
17. Cost Per Lead
Cost Per Lead is the total cost marketing you pay to acquire a lead. It is an important metric to keep track of and it influences your Customer Acquisition Cost (CAC). Sometimes, free marketing strategies aren’t just working for you. You need to invest in paid methods.
18. Conversion Rate
Conversion rate is probably the marketing terminology that gives you the most exciting feeling. This give you the number or percentage of the successful marketing sales that your business was able to close.
When it comes to successful sales, it’s crucial that you know where and when to act for the development of your resources. Therefore, this is an information that all types of businesses need to constantly acquire.
19. Direct Mail
Direct Mail is the means of advertising communication that reaches a consumer where they live or their place of business, through the mail. It is often based on demographics and/or geographical location.
This is one integral part of email marketing. It’s digital but can also be done through a manual process. But of course, if you want bulk messaging, sending digital mails is the best method to prefer.
Ebooks are generally a piece of longer content designed to generate leads. These are common types of content that many marketers use, often to help generate leads. Moreover, Ebooks can be used as a form of entertainment or business materials.
The marketing dictionary has in store a lot more words for you to explore. But don’t get intimidated. These business buzzwords are for all types of marketers who dream to succeed in their corporate journey.
The marketing world is full of acronyms and other lingo that can leave your head spinning. So there are more marketing definitions that you must understand.
Don’t allow these marketing terms to confuse you. Instead, use them to help you clear and effective message to all your potential customers out there.