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9 Marketing Terms You Must Know For Your Business

Posted by Gary Henderson on Jan 22, 2019 8:42:17 AM

CTRThe marketing world is full of terms many of us are not familiar with.  Sometimes that can be a little intimidating and like someone is speaking an entirely different language.  

But, don't worry. 

https://www.disruptiveadvertising.com/adwords/what-is-ctr-click-through-rate/We are going to go over a few marketing terms we think are important and break them down so they're super easy to understand.  These are also great items to start implementing into your business or marketing strategy if you're not already doing so.

1. Buyer Persona

What is a buyer persona? According to HubSpot, a buyer persona is a semi-fictional representation of your ideal customer based on market research and real data about your existing customers.

In other words, research what your ideal customer looks like.  Build buyer personas based on customer demographics, behavior patterns, motivations and goals.  You want to make your buyer personas are super detailed. 

The more you learn about your ideal customers, the more you can really optimize your business.  When you know who your ideal buyer is and what they want, you can then see where you need to focus your time and energy in your business (now it's time to focus on the parts of your business you've been avoiding) and help you see if you need to create more content, landing pages, products, etc. to influence more buyers.

The reason you should create buyer personas for your business is because they give you so much factual data about your buyers' decisions and give you insight on what happens throughout the entire buying process -- how they found you and why they chose you.  

Buyer Personas

Tip: You want to have informative content that speaks to every type of persona through every stage of the buying process.

Your potential customers are already searching for answers online and looking for products and services to buy, so start attracting potential customers now and go give them the content they want and need!

To help figure out who your ideal buyer persona is you could ask these questions:

Examples Of Questions To Ask Your Current Customers:

  • What is your job title?
  • What kind of work do you do?
  • What are your biggest challenges?
  • What are your goals?
  • What are your hobbies?
  • What is your annual income?
  • Do you have children?
  • What's your level of education?

However, to be able to see what movements your buyers are making, there must be proper tracking set up on social media, landing pages, and any website.  We will talk about tracking later in the blog.

2. R3MAT

R3MAT? What in the world does that mean?  Well, the easiest way to understand this definition is to think about it like this -- show the right message to the right audience at the right time.

M - Right message

A - Right audience

T- Right time

Showing the right message to the right audience at the right time is extremely critical in anyones business no matter the industry or niche.  

Here's a super simple example: Let's say that someone is looking to buy a pair of shoes.  If you are looking to buy a pair of shoes, you don't want to see advertisements for hats, hats would be completely meaningless to you.  Sure, you may like hats, but that's not what you're looking to buy.

Here's another example: Let's say you are looking to lose weight.  You start researching videos and blogs that will potentially help you get your weight loss journey started.  While you are researching you start seeing more articles and ads on shoes.  You're not looking for shoes, you are looking for ways to help you lose weight.  

These are examples of things to avoid.  People like to get what they are looking for when they are looking for it.  

The more you know where your people are in the sales journey or in the marketing funnel, the more deals you will close and the more money you will make.

This also plays into understanding your ideal customers and the buyer persona.  When you know who your customers are, what they want and need at the time they need it, then you will know what type of content they are looking for and know the right time in the sales funnel to show it to them.  

3. Buyers Journey

The buyer's journey is the process buyers go through to become aware of, evaluate and purchase a new product or service.  At each stage, your ideal buyer needs diverse types content, served to them at the right time, across a variety of channels and social media platforms (R3MAT).

For the buyers journey, make sure to track your buyers every move throughout each stage.

The buyers journey has 4 steps: 

  • Awareness Stage: Buyer realizes they have a problem.
  • Consideration Stage: Buyer defines problem & researches options to solve it.
  • Decision Stage: Buyer chooses a solution.
  • Action Stage:  Where they take your desired action.  

Customer Buyers Journey

Every piece of content you create (whether it's an email, blog, infographic, social media post, etc.) make sure to map it back to the buyers stage.  This also gives the opportunity to fill any gaps with content or add new distribution techniques to improve your marketing strategy.

By tracking a customers buyer journey, you will know exactly when, where and what type of content needs to be amplified and promoted throughout each stage of the buying process. 

Awareness Stage

MAKE SURE PEOPLE KNOW YOU EXIST.  Show informative content that could be the solution to their problems, wants and needs. Use content that will spark emotion and promote brand awareness. 

In the awareness stage, buyers are identifying what their challenge is.  When a person realizes they have a problem, they will usually go to Google and type in their problem to research it and to learn about the potential ways they can solve it.

For this stage, it is important that people know who you are.  Here, you want to show your potential customers informative content that could be the solution to their problems, wants and needs.  You want to make sure that people can find your business, product or service.

Consideration Stage

During the consideration stage, buyers have clearly outlined and defined their goals and challenges and are looking for the best potential buying options.

The content that is shown to potential buyers, should be focused on their pain points — not your product or brand and especially not what you think they need.  If you ask the right questions and pay attention to their buying patterns, your audience will tell you exactly what they want. 

During this stage, it is so important to make sure you are showing the right thing to the right person at the right time.  If they are looking for more resources, you could send them a free eBook or guide to help convince them that your product or service is the solution.

You want to offer specific content and key features based on what their interests are and what they are searching for.  Become a resource and become an authoritative figure in your niche.  Make them believe you are their best solution.

The buyers journey

Here are some examples of content you could show visitors:

  • Free eBooks & Webinars
  • How-to articles & Blogs
  • Reports & Guides
  • Infographics
  • Case studies

Decision Stage

At this point, the buyer is ready to make a purchase. 

After you have mapped out your buyers journey you can build remarking audiences.  You can build audiences based on their specific interests, what they're searching for (or a combo of the two) to ensure they complete the buying process and become a loyal customer.

You want to send your audience(s) exclusive offers, promotions and fast-action bonuses that create a sense of URGENCY. Provide reassurance that they're making the right decision by choosing you. 

This is also a great place to display customer testimonials.  Testimonials have been proven to dramatically increase credibility, lead generation and customer retention by simply using the positive behaviors of existing clients. 

4. KPI (Key Performance Indicator)

A KPI is a measurable value that demonstrates how effectively a company is achieving key business objectives.  In other words, KPI's help businesses evaluate their success at reaching goals or targets.

The reason a business should use KPI's is to help improve leading indicators and overall improve your business.  Setting KPI's is a lot like setting goals, as long as you work on them you will see some success.

Important KPIs to consider:

  • Audience reach
  • Impressions
  • Views
  • Engagement
  • Click-through rates
  • Increase in followers
  • Sales

Key Performance Indicators (KPI)

If you are looking to get the most success, make sure to track and report analytics along the way.

5. ROI 

ROI is usually expressed as a percentage and is the most common profitability ratio, to compare a company's profitability or to compare the efficiency of different investments.

Calculating ROI for marketing can be tricky and takes time. So, when looking to maximize your ROI, make sure to test various types of offers and creative on your remarketing campaigns.

There are several ways to determine ROI, but the most frequently used method is to divide net profit by total assets. The return on investment formula is: 

ROI = (Net Profit / Cost of Investment) x 100.

What is the best ROI?

Marketers and businesses should revisit goals every few months to track the most recent successes and failures. Make sure your business/campaign are delivering ROI and not losing money.

To have the best ROI try to answer these questions:

  • Has my campaign made any progress so far?
  • Have I found my ideal audience?
  • What content is performing best?
  • What is my ROI?
  • Have we increased reach and engagements?
  • Are any posts under-performing?

6. Organic Search

When a person enters something into a search engine, it gives you two results, organic search and paid search.  Organic search is known as natural search and are the results that match the user's search query based on relevance.  

A combination of keywords, back-linking and writing high-quality content will help a business achieve great organic search rankings.

Organic search should be a critical part of any business.  There are great benefits to using organic search.  Organic search helps improve trust among users and is very cost effective.  

Here's an example of a blog we wrote about the 10 marketing podcasts you need to listen to that landed us #1 in Google's organic search rankings.

Organic Search Example

7. Pixel

Tracking pixels can help you measure how many people are visiting your website and where they are coming from.

Tracking pixels drop a cookie that tracks your visitors journey and audience behavior on your website. Once you know who your visitors are, you can re-target those visitors and advertise to them later.

8. Remarketing

Remarketing is basically marketing to someone who has already interacted with you online in some way.  Either by visiting your website, opting in, viewing your article/blog, etc. 

Remarketing is an awesome way to boost your sales while keeping your audience super engaged, especially when using Facebook remarketing.  

Facebook remarketing refers to the act of running ads targeting toward past visitors on your site.  Facebook more commonly refers to remarketing as custom audiences.

Here's an example, if you know someone read your content, but they never got the next piece of content or didn't buy.  Now you know they are interested in what you have to say, so make them want whatever comes next.  You could show them some ads relevant to what they read or send them another piece of content similar to what you know they liked.

If you want to learn more about Facebook remarketing click the image below!

New call-to-action

9. CTR (Click-through Rate)

CTR is the ratio of users who click on a specific link to the total number of users who view a page, email, or advertisement.  In other words, it is the percentage of your audience that clicks through from one part of your website to the next step of your marketing campaign.

Click-through rates directly affect your quality score.  This is important because a high quality score helps you improve or maintain an ad position at a lower cost, which is what people want.

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If you would like to increase your impact or better your business we encourage you to check out DM Impact!  It's our mentor and training community where you will work closely with our team to grow your audience using Digital Marketing!

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Tags: Marketing