Marketing Terms Definitions
I decided to write this article because I am always asked to define many of the basic marketing terms. There is no one word or phrase that captures what marketing is. There are many levels to it and many options for a company to choose from when they develop their marketing plans. I believe marketing is an essential part of any business and anyone in the business field should know what some of these words mean. In the effort to clarify some of the definitions I had to define some you know already. I have to admit with all the acronyms and different communications on the Internet it is difficult to know what everything means. People get confused and misinterpret certain words. The following is a brief list of the most common marketing definitions and terms for you to get better clarity for today’s marketing world.
Web Site Optimization
Website optimization is the process of optimizing your website to perform better. Website optimization can include improving your website’s search engine rankings, reducing file sizes to speed up download times. It is much more than just including META tags. Your Keywords, Title, Image Alt text, Text, overall design, and its content all play an important role in determining how your website will rank.
Conversion Rate Optimization
In Internet marketing, conversion optimization, or conversion rate optimization is the technique that increases your website’s effectiveness and persuades your site visitors to take action. By creating landing pages you can obtain important data and convert them into customers. The idea is with more leads and opt-ins you can increase your sales. It can be the fastest and cheapest way to obtain leads. It is also commonly referred to as CRO.
“Organic” or “Natural” Search Engine Optimization
An organic search is a search that generates results that were not paid advertisements. It is the process of raising your website rankings and visibility in the “natural” listings area of the search engine results pages (SERPs). This strategy is used for increasing qualified visitors or “traffic” to your site. Traditionally people are more likely to click on a natural ranking then a paid advertisement.
Landing pages sometimes known as a “lead capture page” is a single web page that appears in response to clicking on an advertisement. These pages direct visitors or “traffic” to increase conversion rates of marketing campaigns. The best use of a landing page is not what it is, but what it can do. Your landing pages should provide a customized sales pitch for the visitor.
A/B Testing or Split Testing
A/B Testing also known, as split testing is a method of testing through which marketing variables are compared to each other to identify the one that brings a better response rate. In this context, the element that is being tested is called “control” and the element that is argued to give a better result is called “treatment.” With A/B testing you are dealing with one variable at a time.
Running A/B tests in your marketing campaigns is a great way to learn better ways to drive traffic to your website and generate more leads from your landing pages. Sometimes just minor tweaks to colors, headlines, backgrounds, emails or entirely different designs can significantly affect your successes.
Multivariate testing enables you to test many variables simultaneously. Theoretically, multivariate testing combines a series of simultaneous A/B tests. In order to conduct statistically significant multivariate testing, you need to have a lot of traffic. Major websites like a YouTube or Amazon would do this.
Word of advice before you start using A/B testing. Try and keep it simple and be sure to analyze your results via Google analytics.
Pay-Per-Click (PPC) Optimization and Management
Pay per click optimization and management is used to direct traffic to websites, where advertisers pay the publisher (typically a website owner) when the ad is clicked. Pay-Per-Click (PPC) is the continual process of making your Google AdWords, Yahoo Search Marketing, Facebook, and Microsoft adCenter PPC Campaigns generate better results. For example, more visitors, higher CTR’s (click through rates), lower cost per conversion, etc.
Marketing is the process of attracting attention, raising the interest of your target market, and influencing their decision-making process. It consists of public relations, advertising and branding. It is the tool that educates and creates a demand. Your marketing gives your sales team the opportunity to close sales rather than chasing them down.
Marketing includes identifying unmet needs, producing products and services to meet those needs: and pricing, distributing, and promoting those products and services to produce a profit.
A sale is the process of closing prospects that you have “pre-conditioned” with your marketing messages to contact you and purchase your product. The sales process consists of interpersonal interaction. It is often done by a one-on-one meeting, cold calls, and networking. It’s anything that engages you with the prospect or customer on a personal level rather than at a distance. The critical element of sales is having prospects contact you who want to talk to you, and want to hear how you can benefit them.
Advertising is a form of communication used to encourage or persuade attention to a product or business, usually with paid announcements in the print, broadcast, or electronic media.
Direct Response Advertising
Direct response advertising is the business of designing, writing, and placing advertisements that ask the reader to respond by either calling a phone number, sending an email, redeeming a coupon or visiting a website for more information.
Used effectively, it can be measured, and attributed to individual advertisements. Direct response advertising can also produce tons of qualified and favorably oriented prospects for your company. At its best it literally compels people to call, write in, or buy.
A blog is a collection of content online in a journal or diary format. They are usually the work of a single individual, occasionally of a small group, and often are themed on a single subject. Blogs are used for so much more nowadays and can be the best way to reach your target audience with useful, educational information — not to mention how much it helps your search rankings. Companies that blog achieve 55% more web traffic and 70% more leads than those that do not.
Social media is not about what each one of us does or says, but what we communicate to each other in an open dialog. It is the development of a digital community in all forms of media. Businesses use social media in hopes that the old fashion word of mouth becomes viral. People are more likely to trust a friend’s recommendation then a corporate commercial.
Brand identity is the face and outward expression of the brand, including its name and visual appearance, which ensures consumer recognition and individuality. A brand identity typically includes a name, logo design, and other visual elements such as images or symbols. NOTE: Consumers typically recognize and remember visual expressions more powerfully than they remember names or words.
A brief phrase that helps your corporation become memorable to any individual. It is associated with the company name. Its main purpose is to help market its products or services. It should state what a company stands for or the goals of its products or services. It is better to have no tagline than a poor one. While a company might benefit significantly from a tagline, it has to be willing to develop a great one and never change it unless it wants to redefine its brand. The real test of a tagline is whether it is memorable and if it expresses the true beliefs of the company.
Slogans do not come from machines they should be well thought out. The word slogan comes from a Scottish word meaning “battle cry.” Slogans are used in certain advertising and marketing campaigns that an organization decides to take part in. The slogan can change so that it can be current and resonate well with certain demographics.
Swag are promotional items you give away. Promotional items can include umbrellas, caps, golf balls, pens etc. These items can be given to potential customers or prizes from promotional contests or simply worn by employees for trade shows and other business related functions. Good swag should be memorable and useful to your customer.
Public Relations (PR)
Public Relations, or “PR” usually involves communicating with the media and through the media to present your product or service through communication in the most favorable way possible. It also often involves cooperative efforts with other people and organizations to create good will within the community and enhance the client’s image. The most popular publicity vehicles are the distribution of articles and press releases.
To “optimize” means to make your campaigns and marketing strategies as effective and efficient as possible. That means you want to be smart and utilize all your resources and technology to make sound decisions. There are many software programs out there to help you but I always bargain shop first to find free programs. There are many free programs that marketing teams can use and if you follow my social sites you will get to know some of the best ones.
Do you have a plan? All businesses should have a weekly, monthly and yearly plan. A marketing plan drives sales so it gets all the attention. A good marketing plan will help you answer key questions about your business: How will you position your company in the market? How will you differentiate from your competitors? How will you reach your customers? What are your sales goals? Where will you advertise? It is a road map detailing the route you’ll take to get your business noticed.
In order to stay on track of your marketing strategies, budget and time management it is always a good point to create a marketing calendar. It is a tool used by companies to show where and when marketing events, media campaigns and merchandising efforts are happening. It is one of your company’s most valuable assets.