A glossary of modern marketing terms

A glossary of modern marketing terms

• 1.
  A Glossary of ModernMarketing Terms. The terms you keep hearing but are too afraid to ask what they all mean.
• 3.
  A/B testing: Create twoversions of a website/headline/picture/graphic and see which does better, A or B version? Usually tracked by a 3rd party service to provide data on objectively which piece of communication is going to perform best. Big Data: A collection of data from a variety of traditional and digital sources inside and outside your company, including machine generated data from mobile devices and social media. The sheer amount of data requires specialist management and IT solutions to manage effectively, figure out what data matters and how to harness it. If done successfully it’s an invaluable tool for helping identify opportunities to advance a brand’s offerings and positioning. Blogging: Evergreen Blog Articles • What: Articles that focus on your premium content, services, and keywords that are not time dependant. People will access the article long after it was originally posted. • Why: Each article published will increase your website’s indexed page count and can be used in workflows, social media, and on your website - for the long term. Expert Interview Blog Articles • What: Drawing out the intellectual property of your key personnel and turning it into a post. • Why: Truly expert content must come from your people, and they rarely have the time or ability to write a complete article on their own, so you can draw out their knowledge. Guest-Post Blog Articles • What: Articles pitched to and written specifically for, high profile industry blogs. • Why: Each article published will be a valuable inbound link to your website and a new source of traffic and leads as new audiences are reached.
• 4.
  Bootstrapping: A method ofcreating a business, product launch or campaign with very little money. Pay the minimal amount for all services (usually by using a freelance service). The idea being, you can prove your product/business idea with very little capital. Ideal for startups. Cohort analysis: Looking at your target as related groups of people rather than just as a single entity. You can analyse the life-cycle of a particular group of people with the idea to make different products or services available to different people. Conversion rate: Site visitors are one thing, but customers are another. This is the most important metric for marketers - divide your site visitors by the number of customers over the same period for the only real metric you will need to obsess about. Growth hacking: Growth hacking describes a new process for acquiring and engaging users combining traditional marketing and analytical skills with product development skills. In the past, marketing and product development departments were often at odds where marketing groups would be spending significant amounts of money to acquire users but couldn't get any development resources to build something as simple as new custom landing pages. And on the other side, product development teams would often build what they think users want and will attract users without deeply measuring and understanding the impact of their changes. This concept of "growth hacking" is a recognition that when you focus on understanding your users and how they discover and adopt your products, you can build features that help you acquire and retain more users, rather than just spending marketing dollars. One of the keys to successful growth hacking is to have your marketing “baked in” the product - so the very use of it generates more transactions.
• 5.
  How do youactually hack growth? The short answer is you can't really "hack" growth. Any attempts at artificially creating growth patterns such as spamming friends on Facebook or Twitter, or hacking App Store download charts may result in spiky numbers, but rarely adds retained users. It's kind of like eating empty calories. Instead, you have to search through your data from your more active and passionate users and discover the deep core patterns that encouraged those users to become active. And then you have to build sustainable features that help attract users on a continuous basis such as good viral flows or great SEO landing pages, and then an experience that helps users quickly understand and become active within your product. Seen as a mind-set as much as a practise. Earned, Owned and Paid Media: Earned - Media activity related to a company or brand that is not directly generated by the company or its agents but rather by other entities such as customers or journalists. • Offline - ratings and reviews, WOM, referrals. • Online - blog mentions, Online WOM, social media posts/mentions, Online ratings and reviews Owned - Media activity related to a company or brand that is generated by the company or its agents in channels it controls. ! Offline - retail displays, press releases. ! Online - Company website and blog, company social media pages Facebook, Twitter etc. Paid - Media activity related to a company or brand that is generated by the company or its agents. • Offline - TV, radio print, outdoor. • Online - display/banner advertising, Search advertising, Social network advertising, Email advertising
• 6.
  Pivot: A phrase coinedby Eric Ries in the fabulous book “The Lean Startup” where he defines pivot as “structured course correction designed to test a new fundamental hypothesis about the product, strategy and engine of growth”. Also used to describe a change in course when the organisation has no clue and makes a change sound like it’s premeditated. Programming Language: A constructed language used by coders to write scripts that set and control the behaviour of a machine or to express algorithms. The language of choice varies by industry sector; finance and enterprise systems which are hugely complex, use Java and C# (pronounced “see sharp”) while media and design websites and software require a more flexible language with minimal code, such as Ruby, PHP, JavaScript and Objective-C. Product Market Fit (PMF): When you have gone through MVP and the product and the users are in synch. Comes from the realisation that your product or service is fulfilling a real need out in the marketplace. Tweaks are always required for your product or service to remain in this “flow state”. Viral coefficient (of “K” factor): You want your marketing to bring in users, who in turn bring in more users (as opposed to buying users through paid advertising). This requires them to spend their social capital in recommending a product or service to their friends (usually by social networks). This is free. The viral coefficient is if every new user brings on more than one new user (a free user) from their network then your product is considered viral.
• 7.
  Search: Search Engine Optimization(SEO) •  What: Ongoing onsite and offsite optimization towards the defined set of keywords. •  Why: Driving your site to the top of search engines for searches with strong relevance and decent search traffic will help attract and convert leads. Paid Search Management (PPC) • What: Ongoing beta testing and ad optimization through Google AdWords. • Why: PPC campaigns convert targeted searches towards specific pages and offers that aren’t currently ranking on the first page, target competitor searches, and drive previous visitors back to your site through remarketing. Email Marketing: • What: Campaign-support strategy includes promotional and news-related emails, customized to each persona and segmented list in your database. • Why: Email is a critical element to inbound campaigns, driving traffic to content offers. Inbound Marketing: Where users are specifically attracted to a product or service by an added value component. Specifically targeted marketing messages reach a specific audience and In exchange for their details (email address, company name etc) they receive an item or invite to an event that helps them to do their job better, know more about the industry, see a new product or service etc. Lead magnets: The technology that powers inbound marketing - sometime referred to a “pop-up” or “squeeze page” – it’s a form which is used to collect information from a site visitor in exchange for some added value.
• 8.
  Content Marketing: Content marketing’spurpose is to attract and retain customers by consistently creating and curating relevant and valuable content with the intention of changing or enhancing consumer behaviour. It is an ongoing process that is best integrated into your overall marketing strategy, and it focuses on owning media, not renting it. Basically, content marketing is the art of communicating with your customers and prospects without selling. It is non-interruption marketing. Instead of pitching your products or services, you are delivering information that makes your buyer more intelligent. The essence of this content strategy is the belief that if we, as businesses, deliver consistent, ongoing valuable information to buyers, they ultimately reward us with their business and loyalty. Lead Management: • What: Segmenting, qualifying, and nurturing all inbound leads for sales handover. • Why: Leads alone do not make a campaign successful. Their status needs to be managed so that only leads ready for contact are handed over to sales with proper intelligence. Premium Content Development: • What: Base content in the form of eBooks, Whitepapers, Guides, and Case Studies. • Why: Offering valuable information in downloadable form turns visitors not ready to buy into leads as they access the no-obligation resources on offer. Social Media Management: • What: Scheduled publishing of content linking back to your resources, blog, and website, along with daily monitoring, engagement, and community building tactics. • Why: Social media is a primary traffic source for the website and staying front of mind. • 
• 9.
  Social Advertising Management: • What:Effective management over a series of social ads and promoted content. • Why: Even a small monthly budget for social advertising can boost campaign results tremendously as each platform allows for demographic targeting.
• 10.
  My passion ishelping growth companies prosper utilising a global brand marketing perspective, rooted in Silicon Valley executive-level experience. www.ianchristieconsulting.com