The Marketing Must-Knows
In this overwhelming, ever changing world of digital marketing, it is crucial to understand the basics. To ensure that you don’t get caught up in the confusion, we are here to help. In this post you will find a glossary that scratches the surface of digital marketing curated to further help you illuminate your own brand.
Digital marketing made easy
Cut the clutter with our simple, to-the-point definitions.
A/B testing: an experiment performed by showing two variants to different groups simultaneously and comparing performance, also called split testing
Analytics: the discovery and communication of meaningful patterns of data
Bounce rate: the percentage of people who visit a site and leave the site without navigating any further
Business to business (B2B): companies that exist to provide goods and services to other businesses
Business to consumer (B2C): companies whose products and services are sold directly to consumers, the end-users
Buying habit: the pattern of products consumers purchase and where they purchase them from
Buying motivation: the set of psychological factors that behind a customer’s purchase
Branding: the practice of creating a name, symbol, design, etc. that signifies and differentiates your product. Want to learn more? Click here to dive deeper into branding.
Call-to-action (CTA): a phrase on a button, link, image, etc., that encourages consumers to take the next step
Click-through rate (CTR): usually referring to paid promotion, it is calculated by dividing the number of clicks (on your ad, email, link, etc.) by the number of impressions. This helps you understand the relevancy of your content to your audience.
Content: information that is directed towards a specific audience that encourages a specific goal
Content Calendar: a tool intended to help plan and streamline the execution of social media posts and promotions. Need help with your content calendar? No worries, here you will find everything you need to know and even a free calendar template!
Conversion: when a consumer completes the desired action with a business such as reading a blog, making a purchase, or filling out a form
Corporate image: the manner in which a company presents itself to the public
Churn rate: the rate at which consumers stop engaging or buying from a company, also known as rate of attrition. This is calculated by subtracting users at the end of the period from users at the beginning of the period and dividing that value by the amount users at the beginning of the period.
Customer: a person or organization that buys goods and services from a business
Demographics: market segmentation based on religion, race, gender, age, family size, education, and income
Inbound Marketing: the process of attracting and creating value for customers through tailored experiences and differentiated content
Key Performance Indicator (KPI): a metric that indicates how well a brand is achieving key goals
Keyword: a strategic aspect of SEO and SEM that uses relevant, specific words that maximize reach and engagement for your intended audience
Market size: the number of potential buyers in a certain market
Marketing: the action (or business in our case) of promoting and selling products or services
Marketing strategy: a company’s game plan for reaching prospective customers and turning them into customers of their own product or brand
Marketing mix: a foundational model for businesses that focuses on product, price, place, and promotion
Multivariate testing: an experiment that includes changing multiple aspects of a website to discover which performs the best
Outbound Marketing: marketing outreach that is initiated by the company to draw in customers, rather than customers initiating the journey
Positioning: the place that a brand occupies in a consumer’s head and how it relates to competitors
Positioning statement: concise description of how you want the public to perceive your brand
Return on Investment (ROI): a performance indicator that looks at the profitability of a company’s investments, the ratio compares gains and losses relative to cost. The formula for this is revenue minus cost divided by cost
Search Engine Optimization (SEO): process of increasing web page visitors by prioritizing your site on the list of search engine results. Don’t stress, we have all the tools to help you with SEO here!
Stakeholder: anyone who can affect or be affected by a business, typically includes investors, customers, employees, and suppliers
“The Flywheel”: a marketing model that explains a company’s momentum it gains by placing the consumer at the center of the business strategy. Learn more about "The Flywheel" here.
“The Funnel”: a breakdown of a customer’s journey with a brand from initial introduction and awareness to the purchase stage
User Interface (UI): the interactive space of a website such as forms, navigation, etc.
Value Statement: message that communicates a company’s values and priorities
Confused on a digital marketing term? Let us know! We are here to take the confusion out of digital marketing to illuminate your brand! Contact us with any questions or comments.