If you are a new business owner or you’re just new to marketing strategy, the terms you see online or through marketing consultations can seem confusing and hard to grasp. Have no fear! Our team here at Quantus Creative has compiled a list of terms you may see throughout your research along with brief definitions so that you can get the most out of your research.
Marketing Terms
A/B Testing – Compares two versions of a webpage/newsletter/post to determine which performs better.
Bounce Rate – The percentage of customers who exit a site after viewing only one page. A high bounce rate can indicate that a site is not enticing or compelling enough for users to explore.
Buyer Persona – This differs from company to company. A buyer persona is a description of a brand’s ideal buyer based on the current audience as well as demographic/psychographic research.
Conversion Rate – The percentage of an audience that performed a particular action. Can be calculated using this formula: ((number of audience members who performed action) / (total audience size)) x 100
CRM – Customer Relationship Management. These are strategies and technologies that help companies build and maintain relationships with their audience.
CTA – Call to action. This is a prompt that encourages users to take the next step. Examples include “Shop Now” or “Click to Claim Your Discount”.
CTR – Click-through rate. This is the number of clicks your ad receives divided by the number of impressions it receives. Clicks / Views = CTR
Engagement Rate – Use this to calculate engagement on a particular post, or take the average interactions from several posts for a more accurate calculation of your whole account. Your engagement rate percentage can be calculated using this formula: ((likes+comments+shares) / (total followers)) x 100
Keyword – Words or phrases that web pages are indexed for in search engine results. These keywords represent topics that users typically search for in relation to your company. Companies use keywords to boost SEO rankings and reach more users.
KPI – Key performance indicator. These are quantifiable metrics used to track performance. KPI’s help companies to gather analytics, reach certain goals, and stay on the track to success.
Lead – A lead is a user/customer who has interacted with or has the potential to interact with your brand.
Lifecycle – Lifecycle marketing is the process of guiding users through each stage of the customer journey. These stages are reach, acquisition, conversion, and retention. Each stage requires different strategies in order to move customers along to the next.
Marketing Automation – Automation allows companies to send personalized messages to customers based on their stage in the customer journey. It is also a fantastic way to streamline your email marketing/SMS strategy. Automating certain marketing tasks saves both time and energy. If you’re looking to integrate marketing automation into your strategy, read our article on the topic and reach out to us with any questions.
SEO – Search engine optimization. This is the process of optimizing and improving a website to boost ranking and visibility in search engines like Google or Bing. For a more in-depth review on SEO, check out this article!
While this list should give you a head start on learning the language of marketing, it is not all-encompassing. If you have any questions at all relating to marketing strategy, automation, social media, photography/videography, graphic design, or web design, do not hesitate to reach out to us here at Quantus Creative, and we will be happy to help you find a solution.
