Marketing is a necessary strategy for the development of every business organization. Everything in a business is dependent upon marketing. It shapes the reputation of the brand. Therefore, we must be familiar with the common marketing terms. This article elaborates the basic marketing terminology, which everybody should know.
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The various terms that are used in the field of marketing are called marketing terms. You can learn the meanings of practical marketing terms in this article.
MARKETING TERMS AND DEFINITIONS FOR A LAYMAN
Affiliate Program
It refers to a program in which two parties come together with the aim of benefiting each other. It generally involves directing traffic from one website to another. For example: displaying advertisements of the first party on the website of the second party. The payout terms are generally based on a pay per action system. In such a case the advertiser only pays once the viewer clicking the ad takes a suitable action like making a purchase or subscribing to a plan.
Annotations
Annotations are notes added in the form of comments, which focus on further explanations. In marketing, it caters to adding notes specifically in websites like YouTube and Google Analytics. Such notes can be shared with others or kept private.
Banner Ads
They are a form of online advertising involving images rather than texts. They aim to persuade the visitors of a website to navigate from the host website to the advertiser’s website. It provides a link to advertiser’s website to attract traffic. In today’s world they are generally made in HTML format, with rich animation used to make it look attractive.
Bounce Rate
It refers to the percentage of visitors who enter the site and leave, rather than browsing further. It is an important internet marketing term. Bounce Rate is significant as it signals, whether or not, a website is appropriately designed to catch the visitor’s attention and how much the user is engaging with the content on the website. You may like to read our blog on HOW TO USE UI DESIGN OF A WEBSITE TO ATTRACT CUSTOMERS to generate maximum traffic for the website and ensure low bounce rates.
B2B
B2B is the short term of Business-to-Business. It refers to a situation when one business transacts with the other. For example: the transaction between a manufacturer and wholesaler or wholesaler and retailer. They are conducted between organizations rather than directly aiming at the final consumers. Check out our next blog on B2B MARKETING IN INDIA: PRACTICAL KNOWLEDGE, COSTS AND RESULTS that will clear all your doubts that you may have for this term. A common social platform for B2B marketing is LinkedIn.
B2C
B2C is the short form of Business-to-Consumer. It refers to those transactions which are conducted between an organization and final consumers. It directly aims at targeting the final consumers of the product, rather than other businesses. Facebook and Instagram are the top B2C Social Networks in the world from a marketing point of view.
Call to Action
It refers to getting an immediate response to a statement put up. It is a marketing terminology used to get a prompt action in response to a particular statement. Call to action includes phrases like: ‘Register Now’, ‘Click here to follow’, ‘Buy Now’, ‘Download for Free’, etc.
Conversion/ Hit rate
It is defined as the number of customers who have incurred transactions on a website divided by the total number of website visitors. Every business aims to get a high conversion rate for their website. SEO professionals perform TECHNICAL SEO TACTICS TO IMPROVE WEBSITE TRAFFIC and increase conversions.
Copywriter
It refers to a person who writes advertising text for marketing purposes. The ‘copy’ aims to increase the brand awareness of the organisation through the content and drive engagement. It is a marketing term revolving around words which persuade customers to purchase the product. Copies are generally short and directed towards creating an impact.
Conversion Path
Conversion path is defined as the process by which a random website user turns into a lead for the company. It is significant as it involves turning a prospective customer into a customer.
Customer relationship management
Customer relationship management (CRM) is defined as the management principles for managing the relationship between the customers and organisation. It involves an analysis of data, which helps to retain the old customers and attract new ones.
Digital Marketing
It refers to undertaking the process of marketing using digital mediums. It includes internet marketing, marketing over mobile phones and display advertisements. To get a deep dive, here is WHY DIGITAL MARKETING IS NEEDED IN TODAY’S BUSINESS WORLD.
Direct Marketing
It refers to the process of directly selling the products to the final consumers. It is a promotional tool aimed to persuade the final customers directly.
Engagement Rate
Engagement rate is defined as the number of users engaging with the advertisement by the total number of users. There are various ways to measure the engagement rate like calculating the total likes, comments or clicks.
Sales Friction
Friction is defined as the psychological resistance faced by a prospective customer while being on the verge of completing a sale. It leads to failure of conversion of a lead into a sale.
Inbound Marketing
Inbound marketing is defined as the process of attracting customers through development of relevant content. It involves the use of various concepts like social media marketing, content marketing, search engine optimization etc. We have listed all the qualities and elements that you should ensure before CHOOSING THE RIGHT SOCIAL MEDIA MARKETING AGENCY for attracting customers.
Landing page
It refers to a web page specifically created for marketing purposes. It is the page that opens on clicking of the advertisements or links on other web pages. Landing pages are the pages that we want to be crawled by Google. Here are some interesting ways to know HOW TO IMPROVE CRAWLABILITY AND INDEXABILITY OF A WEBSITE?
Marketing Automation
Marketing automation is defined as the use of various social platforms to manage and automate various marketing tasks. It helps to measure conversions, evaluate customer data, interact with customers etc.
Mobile Marketing
Mobile marketing is defined as a digital marketing strategy which aims at reaching out to people through their mobile phones. It involves advertising on mobile phones.
Pay-per-Click
It refers to the amount of money paid by the advertiser to the host website, when a user clicks on their advertisement. In essence, it is a way to direct visitors to a website using advertisements and links on other websites, wherein the advertiser only pays when someone clicks on the ad.
Return on Investment (ROI)
ROI is obtained by dividing the net profit earned by the investment made. It is a measure to assess an investment’s efficiency. A higher ROI indicates success of an investment project.
Responsive design
Responsive design is a design that adapts to the screen size and displays content accordingly. Almost all good websites are responsive and adapt to the various screen sizes on Desktop, tablet and mobile. Creating a responsive design involves using flexible images and flexible grids, which are designed according to the varying environment.
Sales Promotion
It refers to promoting the products to the final consumers or distribution channels using promotion tactics like offering discounts, etc. It involves use of various means to increase the demand for the product at different levels. Follow this guide to learn about ‘HOW TO INCREASE SALES?’ THE ANSWER TO THE MOST SOUGHT OUT QUESTION.
Search Engine Optimization
Search engine optimization is the process of maximizing the number of visitors to a website by ensuring that it appears among the top searched results in the search engines. It is the practice which involves increasing the ranking of a particular website/ webpage on the search engine result pages. Read our blog on LEARN SEO: A BEGINNER’S MANUAL to understand the SEO basics.
The above definitions are must to know in order to learn practical terms used in marketing. One must always be aware of the basic marketing terminology in the sphere of business, for an ideal marketing strategy. Before proceeding further, you can use the above points to get a basic understanding of the common marketing terminologies.
