Whether you’re new to marketing or a seasoned pro, you still need to ensure that you know the basics. And, what better basics to cover than some actual marketing terms, or lingo, that are used across the industry? Take a look and see if you know any of these terms:
Tweet: Check out these 16 #MarketingTerms that everyone should know about:
Conversion Rate, or CVR, is is the number of conversions divided by the total number of visitors. A conversion can refer to any desired action that you want the user to take.
Customer Relationship Management is a strategy for managing interactions with customers and potential customers. This can help you stay connected to customers, streamline processes, and improve profitability.
Earned media refers to publicity gained through promotional efforts that is not done through your business. This means you did not pay or create for this attention. Many examples include reviews, articles, and social media.
Owned media is defined as communication channels that are within one’s control, such as websites, blogs, or email.
Pretty explanatory, paid media is any media that you pay for in order to advertise. This includes search, display, and shopping ads done through search engines, social media, and videos.
In a sales and marketing context is someone who is classified as a potential customer. They should be nurtured and given extra attention to make the final conversion.
Key Performance Indicators are specific metrics to measure. These are pieces of data that pertain to your company goals and objectives to help you understand your marketing success.
A perona, or buyer’s persona, is a fictional character created to represent a user type that might use a site, brand, or product in a similar way. This is what marketers use to construct specific representations for a campaign or strategy.
Remarketing allows you to connect with visitors to your website who may not have made a conversion. It allows you to position ads in front of a defined audience that had previously visited your website.
Return on Investment is a performance measure used to evaluate the efficiency of an investment or compare the efficiency of a number of different investments.
Click Through Rate is the ratio of users who click on a specific link to the number of total users who view a page, email, or advertisement. This is mostly used to measure digital campaigns.
Marketing Qualified Lead refers to a lead that is more likely to become a customer compared to other leads based on lead intelligence, engagement, and interactions.
Search Engine Optimization is exactly that – optimizing your site to best be indexed by search engines (Google, Bing, Yahoo) and found by users on the internet.
Bounce rate represents the percentage of visitors who enter the site and then leave rather than continuing to view other pages within the same site. Google counts a bounce as a single-page session on your site.
The term evergreen is used for the products, segments, and strategies that stay relevant over a long period of time. This is mostly taken into account when it comes to content.
Expertise, Authority, Trustworthiness. This includes a Google algorithm update that happened in August of 2018 surrounding certain content and site guidelines. This includes looking at how knowledgeable the site owner is on the subject matter, how credible the site is, and how trustworthy the information is.
Did you know any of these key marketing terms? Share this article and let us know which terms surprised you the most! Be sure to check out our other informative pieces from the Wave blog to learn more.