5 Marketing Terms to Learn
When dealing with marketing firms and materials, it can feel like everything is in Greek. You need to know some of the lingo in order to communicate what you hope to achieve and get from any marketing professional. Here are five marketing terms to learn:
1. Business-to-Business (B2B)
B2B refers to any advertising or marketing efforts that are made between businesses. If you own a company that manufactures or provides a service to another business, then you’ll probably need to engage in some B2B marketing. Many businesses do B2B transactions. B2B should not be confused with Business-to-Consumer (B2C) marketing, which is primarily for retail companies.
2. Call-to-Action
Your marketing efforts are only as good as the results. Effective marketing campaigns have a call-to-action that drives the audience to do or purchase something. A call-to-action can be direct or part of a larger, long-term campaign. It depends on your company’s needs and the result your company is looking to achieve. If you own a restaurant and want people to come in for a weekly special, that’s a pretty clear call-to-action. Many marketing firms and professionals can help you design a campaign with a clear call-to-action, regardless of your line of business.
3. Content Curation
Many companies need an online presence. To stimulate online growth and outreach, your company will need content. However, your company doesn’t necessarily need to create all the content. Instead, having a good strategy for content curation can help grow your online presence and provide value to your customers. The content that is collected and shared with your online audience should be related to your business and your customer’s needs. If you own a pool installation company, then posting articles about outdoor living, pool games, and summer entertaining are examples of related content. Make sure your content curator is selecting things that compliment your company.
4. Analytics
Since online strategies are likely top of mind, it’s important to understand what analytics are and how they describe your success. Depending on the type of campaign your company is running, your marketing team will likely choose some data points to analyze. Analytics can include everything from visitors to conversions. Be clear on what you hope to achieve from a campaign, and make sure the analytics that are being evaluated are meaningful to those goals.
5. Passive Income
You may be trying to build an online company that provides a passive income, or your marketing team may run the idea of online ads to give you some extra cash. It’s important to know this term for marketing purposes, as your business will be competing with people looking for passive income, even if you don’t engage in that type of work. A passive income is one that avoids traditional business models and trust deeds by having digital content as their product.
You don’t need to be a marketing genius to learn the language. And knowing your way around some basic marketing terms can help you grow your business. Think about what your company needs to be successful, and then learn how you can effectively engage people in a conversation that leads to results. If marketing is not something you enjoy doing, there’s no shame in hiring an expert. Marketing teams can free you from the burden of having to sell your product. This way, you can focus on the part of the business where you truly thrive. Whether you need a higher click-through-rate (CTR) for your company’s blog or if you want to drive people to a specific location, marketing can help you achieve those goals. And never be afraid to ask a firm or professional to explain a marketing term to you. Marketing people love to talk about marketing and will be happy to share their knowledge and passion with you.
