Editor’s note: This post was originally published on 1/28/14 and has been updated for accuracy and comprehension.
Have you ever been in a business meeting or on a sales call, and the potential customer or business associate uses a marketing term that you just don’t understand?
In order to get the results you want – converting more prospects into customers and increasing your revenue – you have to know what you’re talking about.
Or at least sound like you do!
Having a handle on these words and phrases will allow you to confidently speak with prospects, vendors, your sales team, and your marketing partner.
Here are 68 marketing and sales terms that you should know.
Putting a spotlight on a product, service or business through paid broadcasting – print or digital.
Tracking data and creating meaningful patterns from it that inform future marketing endeavors. The data can come from website traffic, conversions, social media, etc.
Originally, the term was web log or weblog and eventually...blog. Individuals, small business and even large corporations write articles, commentaries, and the like, publishing regularly on their website. A primary component of the inbound marketing method, blogging helps to drive website traffic, builds thought leadership and authority, and drives leads.
A stage in the buying process, this happens last – when leads move through the top of the funnel (identifying a problem), the middle (shopping for solutions), and finally, to the bottom, where they’re ready to buy. At this stage, leads are interested in a demo, a call, or a free consultation.
A summary of your ideal buyer, based on market research, data and hypothesis. The representation helps marketers define their ideal audience and it helps salespeople determine lead quality.
Anything that brings about awareness of a specific product, service or business while separating it from other establishments.
Describing a business that markets – or sells – to other businesses.
Describing a business that markets and sells to consumers (think Apple).
This number shows the people that move through your website or marketing campaigns. It’s actually the “clicks” or actions prospects take, divided by the total number of actions people could take. Hence, the name “clickthrough rate.”
The type of advertising in which a company makes a direct comparison to another brand, firm or organization.
A program that manages all of the aspects of creating content. These may include editing, indexing, navigational elements, etc.
The path, or course of actions, a prospect will go through to eventually become a lead. These events can include a call to action, lead form, thank you page, downloadable content, etc.
All symbols, colors, logos, etc., that make up the public image of an organization.
The total cost marketing pays to acquire a lead. It is an important metric to keep track of and it influences your Customer Acquisition Cost (CAC).
A strategic form of pricing intended to cover the expenses of running your business.
When a consumer is a repeat buyer of a product, service or brand.
Software that helps you organize all of your marketing and sales activities, including storing contact information, tracking emails, storing deals, and more.
A specific profiling aspect that takes into consideration age, gender, income, family life, social class, etc. It’s often used in segmentation or for focal points in marketing and advertising strategies.
Marketing to a target audience solely via the internet. Could be email marketing, content marketing, etc.
Competitors that provide the exact same services as your establishment or firm.
A means of advertising communication that reaches a consumer where they live or their place of business, through the mail, often based on demographics and/or geographical location.
Dealing Directly with the ‘end user’ rather than a third party or a middle man. Also can be seen as directly communicating with your primary target audience. Can come in the form of advertising, marketing or communications.
Also referred to as a lead magnet, ebooks are generally a piece of longer content designed to generate leads.
The means of selling products digitally on the internet.
A digital message you can send through the internet to contacts, leads and prospects. Marketing through email takes businesses directly into a consumer’s inbox and provides the ability to create a connection and build trust.
Content that is valuable to a reader today, in 5 years and in 10 years. This “evergreen” content is timeless, offers the highest-quality information and offers huge SEO benefits.
Segmenting a group of audiences based on where they live or where they are located.
Advertising your company via content marketing, podcasts, video, eBooks, email broadcast, SEO, Social Marketing, etc., rather than paid advertising.
A type of content that is visual in nature, making complex information easy to understand and digest.
Efforts to offer a marketing plan to individuals and executives within your own firm to gain their approval and/or support.
A means to measure the performance of various factors, from employee functions to marketing tactics. Tracking KPIs will help your organization achieve its goals.
A page on your website that houses a form that prospects will fill out and exchange their personal information for a lead magnet or free offer (such as an ebook, demo or consultation).
An individual or a company that has show interest in one of your products or services. Could be either a MQL (Marketing Qualified Lead) or an SQL (Sales Qualified Lead).
A prediction of the net profit attributed to the entire future relationship with a customer.
The profit gained from a product or service after all expenses for selling that product or service are covered.
This is the tool that lets you “automate” your marketing campaigns. Through lead nurturing, behavior-based strategies and more, you can use marketing automation to send the right marketing messages to the right people at the right time.
A lead that is ready to be handed over to the sales team. An MQL has had some sort of positive interaction with the company such as a discussion, downloading marketing products, etc., that deems them worthy to move to the next level of the sales funnel.
Similar to competitive based pricing in the sense that this type of pricing is based off of the streamlined/current pricing for a specific product or service within the same industry.
The act of taking an existing product or service to a new market.
A strategy used to sell more of an existing product within the current markets it is being sold.
High-intelligence research and development of a specific industry for the betterment of sound business decisions.
The process of identifying, anticipating and satisfying customer requirements in a profitable way.
The creation of a new product that involves research, development, product testing and launching.
A very specific segment of a market in which you are trying to meet the needs of that market.
This is an asset that you’ll offer prospects on a landing page. The offer is designed to help you generate leads, and they can include everything from a webinar, ebook, checklist, template, demo and more.
A method of advertising on the internet where you only pay when someone “clicks” on your ad.
Developed for individuals who are looking to evaluate their S.W.O.T. analysis to plan their future achievement and success.
A series of case studies that provide proof of value to potential customers.
A series of media releases, conferences, social images, etc., that make up and maintain the reputation of an organization and its brands.
A lead that is qualified meets your company’s criteria, or buyer persona attributes, and is more likely to buy. A marketing qualified lead meets marketing objectives, while a sales qualified lead meets sales objectives.
The process of discovering and developing new products and services.
A website that changes based on the device the consumer uses. Mobile, laptop, and desktop devices offer different views of a website, and responsive design accommodate for each view, without having to build separate websites for each one.
A way to measure the profitability of the investment you make in marketing, sales, etc. If the ROI on an investment is negative, it generally means you’re losing money on that endeavor. Measuring the ROI on marketing efforts is a savvy way to ensure you’re putting your money into the strategies that bring results.
A prospect or lead generated from someone who may be interested in what the salesperson is selling.
Establishing relationships with the intent of developing a long term association with a prospect or potential customer. This strategy is much less expensive that gaining new customers.
The entire sales process as a whole – from prospect to paying customer – and all marketing, advertising and sales processes in between.
A method to increase a webpage’s performance in web search results. By tweaking elements on a webpage (there are on-page and off-page SEO factors), you can move a webpage up on a search result “page.” Marketers generally want to get their website page to appear on page 1 of a search results, ideally at the very top of the page. SEO elements include keywords, title and image tags, links, and more.
Platforms like Facebook, Twitter, Instagram and Snapchat that help users connect. Marketers use these networks to increase awareness, grow their customer base and achieve business goals.
An internal study often used by organizations to identify their strengths, weaknesses, opportunities and threats.
A group of customers toward which a business has decided to aim its marketing efforts and merchandise.
Whereas Bottom of the Funnel (BOFU) prospects are in the ready-to-buy stage, TOFU customers are at the initial stages of the buying process. They are looking for answers to a problem they just realized they are having. Marketers create TOFU content that help prospects identify the problem and leads them to solutions.
A factor that differentiates a product from its competitors, such as the low cost, the quality, etc.
The experience a user has with your brand/website, from the moment they discover you, through the purchase and beyond – where customers become advocates.
A method of product promotion that relies on getting customers to market an idea, product or service on their own.
A series of webpages that are connected, beginning with a homepage and generally includes other pages like “contact,” “about,” and “services.” Serving an individual or organization, your website should be strategically designed to attract visitors, convert users into leads and then turn leads into customers.
A series of emails designed to nurture leads. A powerful marketing asset, you can use workflows to engage leads, learn more about prospects, segment lists, and much more.