11 Important Marketing Terms You Should Know
The world of marketing can be an overwhelming one. Analytics, trends, SEO, conversion rates, the list of technical jargon goes on. Even if you don’t work in marketing, you want to be able to converse with business partners, customers, and even your marketing team and sound like you know what you’re talking about. Luckily for you, the Skyfall Blue team is here to help! In this blog post, we will teach you 11 important marketing terms to ensure you can ‘talk the talk’ with the best of them.
1. A/B Testing
A/B testing, also known as split testing, is a randomized experiment, which shows users two variants (A and B) of a specific marketing campaign or ad. Essentially, half of your audience will be shown the ‘A’ campaign while the other half are shown the ‘B’ campaign. By splitting your audience in this way, you can determine how the two pieces of content perform against one another.
2. Click Through Rate (CTR)
Your click-through rate is a ratio showing how often the people that see your ad click on the link connected to it. Your CTR is determined by the number of clicks that your ad receives, which are then divided by the number of times your ad is shown: clicks ÷ impressions = CTR. The CTR is a good way to learn how well your keywords and ads are performing.
3. Conversion Rate
The higher your conversion rate, the better! Your conversion rate is the percentage of visitors to your website that complete a desired action or goal, out of the total number of visitors. For example: if you have an e-commerce store, this could mean the number of visitors who end up purchasing something.
Merriam-Webster defines demographics as “the statistical characteristics of human populations (such as age or income) used especially to identify markets”. Ultimately, demographics are a way of segmenting and defining your target audience by groups such as age, gender, and location.
5. Direct Marketing
Direct marketing is a targeted form of marketing that allows you to communicate information about your business directly with your target customer, without using an advertising middleman. Direct marketing could be in the form of emails, phone calls, text messages, brochures, flyers or newsletters.
6. Engagement Rate
Your engagement rate is a metric that tracks how active your users or followers are in engaging with your brand online. Engagement rates are primarily used in social media marketing to analyze the success of online campaigns or a specific piece of content. Your engagement rate is calculated by the number of interactions on a piece of content divided by the number of users following your account.
7. Inbound Marketing
Inbound marketing is a marketing methodology that draws customers to your brand through the use of social media marketing, content marketing, branding and search engine optimization. By creating content that is tailored to your audience, adding value to their experience, you can attract customers to your brand and form sustainable connections with them.
8. Key Performance Indicator (KPI)
A KPI is a quantifiable metric that analyzes the success of a certain activity by tracking performance over time. In terms of marketing, some examples of KPI’s can include: your return on investment for ad spend, number of new customers/followers acquired, website traffic and online engagement rates.
9. Landing Page
A landing page is a page on your website where you can direct online traffic to encourage them to complete an action, such as signing up to a mailing list. Landing pages are a great way to acquire contact information from your customers. You can direct people to your landing page by means of a social media promotion, marketing email, or an online advertisement
10. Pay Per Click (PPC)
Pay per click is a digital advertising model that enables you to drive paid traffic to your website. By using a PPC advertising platform, such as Google Ads or Facebook Ads, you are ultimately paying the ad publisher each time the ad is clicked (hence, pay per click). On some platforms, you can also use this format to pay for other actions like impressions, video views and on-site engagements.
11. Search Engine Optimization (SEO)
SEO is one of the big buzz words in online marketing. Basically, SEO is a means of directing more people to your website by increasing the visibility of your website, or a specific web page, to users of an online search engine. Optimizing your website for SEO can include creating keyword-heavy content and adjusting HTML. The ultimate goal with SEO is to have your website rank higher in a search engine’s results page. This will ensure more online users see your web page first and those visitors can then be converted into customers.
Still a little confused? Don’t worry – we eat, sleep and breathe this marketing jargon so you don’t have to! Reach out to our experienced team today to make your online marketing dreams come true.