Keeping it real: A Practical Glossary for Small Businesses

If you've ever felt lost when you hear marketing jargon, acronyms, and buzzwords, you're not alone. Marketing and ecommerce can seem like a labyrinth of terminology, especially for small businesses looking for practical advice without all the fluff and hype.

The concepts behind many of these words have been practiced successfully for many years before being “made over” in recent years - reinvention and repackaging at it’s best - mostl likely to make all the online “experts” sound smarter and get more clicks.

I find it equal parts amusing, how trends come and go so quickly and frustrating, because it makes things more complicated than it needs to be. Sometimes I hear a word being bandied around a lot, let’s look at the word “optimised” - well that sounds quite fancy and complicated; but in reality it is simply “fine tuning or making something work as well as it can”.

Yes, there are strategies and reasons behind various decisions which go into “fine tuning or making something work as well as it can” but let’s keep it real, and down to earth my friends so we can all be on the same wavelength.

GLOSSARY

In this comprehensive marketing glossary, we've compiled a list of common marketing terms and acronyms, along with easy-to-understand explanations. Whether you're a seasoned entrepreneur or just starting your marketing journey, this glossary is your go-to resource for understanding the fundamentals. I’ll add to it as new words pop up.

A/B Testing: A method of comparing two versions (A and B) of a webpage, email, or advertisement to determine which one performs better and produces higher conversion rates.

Above the Fold: The portion of a webpage that is visible to users without scrolling, often considered prime real estate for important content or calls to action.

Affiliate Marketing: A performance-based marketing strategy in which businesses reward affiliates (partners) for driving traffic or sales to their website through the affiliate's marketing efforts.

Analytics: The process of collecting, analyzing, and interpreting data from marketing efforts to make informed decisions and optimize strategies.

B2B (Business-to-Business): Marketing strategies and activities focused on businesses selling products or services to other businesses, rather than to consumers.

B2C (Business-to-Consumer): Marketing strategies and activities aimed at selling products or services directly to individual consumers.

Brand Equity: The perceived value and reputation of a brand, which can influence consumer choices and loyalty.

Churn Rate: The percentage of customers who stop using a product or service over a specific period, often used in subscription-based businesses.

Click Fraud: The fraudulent or malicious clicking of online ads to artificially inflate click-through rates and cost advertisers money.

Content Calendar: A schedule or plan that outlines when and what content will be created and published as part of a marketing strategy.

Content Marketing: A strategy that involves creating and distributing valuable, relevant content to attract and engage a target audience, with the aim of building brand awareness and customer trust.

Conversion Funnel: A visual representation of the stages a user goes through in the process of becoming a customer, from awareness to purchase.

Conversion Rate: The percentage of website visitors who complete a desired action, such as making a purchase or signing up for a newsletter.

CRM (Customer Relationship Management): A system or software that helps businesses manage and analyze customer interactions, data, and relationships to improve customer service and sales.

CTA (Call to Action): A directive, typically in the form of a button or link, that encourages users to take a specific action, such as signing up, making a purchase, or contacting the business.

CTA (Content Targeting and Personalization): The practice of tailoring marketing content and messages to individual users or audience segments based on their preferences and behavior.

CTR (Click-Through Rate): The percentage of people who click on a specific link or call-to-action button within a marketing message, usually calculated as clicks divided by impressions.

CTV (Connected TV) Advertising: Advertising delivered through internet-connected television devices, often via streaming services.

CX (Customer Experience): The overall perception and interaction that a customer has with a brand or business throughout their entire journey, from initial contact to post-purchase support. CX encompasses all touchpoints and interactions, including customer service, product quality, website usability, and more. A positive CX can lead to customer satisfaction, loyalty, and advocacy.

Drip Campaign: A series of automated marketing emails or messages sent to leads or customers over time to nurture relationships and guide them through the conversion process.

Engagement: A measure of how actively and positively an audience interacts with a brand's content or social media posts, including likes, comments, shares, and clicks.

Funnel: A visual representation of the stages that potential customers go through on their journey from initial awareness of a product or service to the final conversion or purchase. The funnel typically includes stages like awareness, consideration, evaluation, and conversion. Marketers use the funnel to understand and optimize the customer's path toward conversion.

Impressions: The number of times a marketing message, ad, or piece of content is displayed to users, regardless of whether it was clicked or engaged with.

Influencer Marketing: Collaborating with influential individuals or personalities in a specific niche or industry to promote a product or service to their audience.

KPI (Key Performance Indicator): Specific metrics or data points used to evaluate the success of a marketing campaign or strategy, such as website traffic, conversion rate, or revenue.

Landing Page: A dedicated web page designed for a specific marketing campaign, often used to capture leads or prompt a specific action.

Lead Generation: The process of identifying and attracting potential customers (leads) who have expressed interest in a product or service, often through forms or inquiries.

Multichannel Marketing: A strategy that involves using multiple marketing channels (e.g., email, social media, website) to reach and engage with customers across various touchpoints.

Native Advertising: Advertising that blends seamlessly with the format and style of the content or platform it appears on, providing a non-disruptive user experience.

Optimised (or Optimised): Refers to the process of making improvements or adjustments to a marketing campaign, website, or content to enhance its performance and efficiency.

Organic Reach: The number of people who see a piece of content (e.g., social media post) without paid promotion or advertising.

Persona: A fictional representation of an ideal customer or audience segment, based on research and data, used to guide marketing efforts.

PPC (Pay-Per-Click): A type of online advertising model in which advertisers pay a fee each time their ad is clicked, commonly used in search engine advertising.

Rebranding: The process of changing a brand's identity, including its name, logo, messaging, or positioning, often to appeal to a new audience or reflect a new direction.

Remarketing (or Retargeting): A strategy that displays targeted ads to users who have previously visited a website or interacted with specific content but did not complete a desired action.

ROI (Return on Investment): A measure of the profitability of a marketing campaign or investment. It calculates the ratio of net profit generated from the investment to the cost of the investment.

Segmentation: The process of dividing a target audience into smaller, more defined groups based on shared characteristics or behaviors, allowing for more personalized marketing.

SEO (Search Engine Optimization): The practice of optimising web content and structure to improve its visibility and ranking in search engine results, thereby increasing organic (unpaid) traffic.

SERP (Search Engine Results Page): The page displayed by search engines in response to a user's query, showing a list of relevant websites and their rankings.

The Lipstick Effect - This name refers to the idea that even in a recession people will still spend money on smaller items - like lipstick which is a small item at a perceived lower price point.

UGC (User-Generated Content): Content created and shared by customers or users, such as reviews, testimonials, or social media posts, that promotes a brand or product.

Viral Marketing: A marketing strategy that relies on word-of-mouth and social sharing to quickly spread a message or content, often through humorous or compelling content.