Marketing Terminology You Need To Know Explained in 28 Minutes

Hi, welcome to this lesson in Digital Marketing 360, the new edition. This lesson is all about terminology. You know, you gotta walk the walk, but you gotta be able to talk the talk, and there's a lot of terms in marketing and throughout this program that we're gonna be throwing out there that you're probably wondering, what are those words? So it is absolutely key that we go through some of these key phrases. Now there's, there's hundreds of different marketing terms out there. What I did is I went and picked the most common ones and that I use on a daily basis, and we're probably going to be using them throughout our time together. So that's what we're gonna do. You're gonna see the word come up on the screen, I'll quickly explain what it is. So what I'm gonna ask you to do is that you might wanna take notes of this and kind of write your description of what you think it is. Not necessarily what you think it is, but how you understand it to be based on the way that I talk about it. So the first one is avatar. Not that green or that blue monster in that Disney movie that's out there, not the movie, an avatar or a buyer persona is a fictional representation of an ideal client, right? You hear it like an ideal customer persona, an ideal customer avatar, right? They're interchangeable. And throughout the program, we're going to actually be developing buyer personas for your business. So it's extremely key. Once we know these personas, we're going to know a lot more about who it is that we're trying to target so that the content we create, the social posts, the the free offers, the videos, the way that we write about content on our website and our blog is targeted towards one of these buyer personas. And you don't necessarily just need one, there could be multiple. Like in our business, we actually have 3 buyer personas out there. So yeah, that's an extremely important part of the process. Next is A/B testing. Now first of all, I'm going to preface all this. These are not alphabetical orders because the original list was, but in the new one I went and injected different words in there and I didn't necessarily make them in alphabetical order. So if you're somebody that's kind of noticed that, it's going to bug you, I apologize in advance for it. So, okay, A/B testing. This is basically when you put out something in marketing, uh, whether it's an ad or a website landing page or anything like that, We can do A/B testing, which means we're going to send out to a list. So let's say we have 1,000 people on an email list, and we're writing an email out to them, a promotional email about an event. And we want to say, okay, which one's going to actually work better? Do they want one with videos and graphics, or would just a plain text email be better, right? So you may be thinking, well, I don't know. So instead of picking one and sending it out to the whole list and it not working, that's where A/B testing comes in. Right, so we take that list of 1,000 people, we create 2 versions of the email, and we send it out. And what the system will do is it will send half of them to, or half of them one version, or half of them the other version. But there's other systems out there too, you know, possibly the one that you have. What it will do is you can say, okay, of this 1,000, let's take 200. Let's send 100 email 1, 100 emails to, and then based on the amount of opens or the amount of engagement, we're going to have a defining winner, right? And then whoever wins, that one is sent to the other 800 people, right? So that's how A/B testing comes into play. And you can get a lot of granularity in that, wherein you're doing ads where you're changing stuff, and you can do A/B testing, ABC testing, right? It's really the meaning of that is you're putting comparisons together in what you're doing. Analytics, right? You hear the term Google Analytics. Analytics are metrics. These are numbers that are comparing what you're doing, right? So the amount of visitors to your website, the amount of clicks on an ad, the amount of purchases you make, anything that you can calculate is an analytic in marketing terms. Blogging, right? So you hear people all the time say, you know, do you have a blog? I have a blog, right? You know, if you have news articles that you write on your website, technically you have a blog, right? Blog is just a term for you to be writing and creating, curating your own content, putting it out there. Blogging is an extremely powerful way to get people to engage with you, to teach people what you're doing, also helping your, your ranking on Google or any other search engine. But there's a lot more that goes into blogging than just writing the content. You need to get people there. We're going to be covering that throughout the training as well. Bounce rate. So the bounce rate is not how many times you get in line for the bouncy castle at the fair or the carnival. A bounce rate is when somebody comes to a landing page on your website, and a lot of times your analytics will tell you this, you know, your bounce rate is 80% or 50% or whatever it is. What it means is they've come to where you wanted them to go and then they didn't do anything, right? They didn't click a link, they didn't go through the menu, they didn't opt in or whatever, they just left. That is a bounce rate. Technically, they came, boom, they bounced right off of it. And that's really key. If you have a high bounce rate, you want to look at that. You want to make sure that you change it up so that you can fix that issue, because bounce rates are not a good thing in marketing. Call to actions, or CTAs. A call to action is essentially, hey, what do you want that person to do, right? When they come to an ad, or you come to a website, or you come to a landing page, What do you want that person to do? Do you want them to fill out a form? Do you want them to call you? Right, a lot of times as business owners, and the best example of this is when you're placing actual a print ad in a publication, right? I mean, print ads, print advertising is extremely expensive, so we tend to try to jam so much in there. We got our website, we got our phone number, we got our social media there. And what happens, you end up with consumer confusion, right? They see the ad and their brain's like, well, I don't know what you want me to do. Right? So if your main focus is people calling for an appointment, that should be your main thing that's extremely visible on that ad. When people look at it, they'll be like, oh yeah, I know that bit. I know that's, you know, the company I want to work with. Okay, I have to call, right? Or do they want me to go to the website? Or they want me to go to social media, right? That's where the confusion comes in. So a call to action needs to be clear and concise. Conversion path. Think about it, right? Let's break this down. Conversion and path. Well, a conversion is you are getting somebody to go from one stage to the next stage. So we're going to go from a prospect to a customer. So if you're in a business where you book appointments, we're one of those, right? We are a business that gets started on what we call a connect call. So our main call to action is getting somebody to book a connect call. So if somebody is coming to a landing page or they opt in for something, and they go ahead and book the call, they have converted in our minds. So the path is what are the steps they need to get there? So do they see a video that we've promoted on social media and they watch that? And then they go from there and they click and they go to landing page and they opt in for a free guide. And then the email that comes out to them gives them the free guide, talks them a bit more about the problem and says, hey, if you wanna fix that problem, Why don't we book a free call? Right? Great. Yes. All those steps are the conversion path, and we're going to be developing a conversion path for your business as well. Conversion rate. So like the conversion path, but this is the rate. This is a percentage of how many people convert, right? So if you've got 100 people that you sent this potential event or landing page to, or free guide, and 10 of them convert, then you know your conversion rate from there, right? You have a 10% conversion rate. So there's a lot of metrics that are out there around conversion rates, and really you're, you're not going to get really high conversion rates if you're looking at traditional digital marketing, right? You're looking at, you know, if you've got a 10% conversion rate, you're, you're like going gangbusters. You're, you're, you're kicking butt and taking names. That is a really good conversion rate. Right? You want to go even higher than that, or your goal is to get higher than that. And if you're really good at what you do, you're very niche in your market, you can get higher than that. But if you're in a very generic type of business, going higher than that is really quite hard. So what we tend to try to do is we try to get that conversion rate as high as possible by doing A/B testing and, and tweaking a lot of things. Once we know we've got that machine working as best as it can be, then we go and we put more fuel in it. Right? And that's where we're going to talk about, you know, the paid traffic and finding more prospects. Because if something's broken, there's no point to try to drive more people there. So we want to make sure that it's working to the best of its ability. Click-through rates, or CTR. This is how many times people will come to a page and then actually click and do what you want them to do, right? That is a click-through rate. They're clicking, they're moving through the process. So you'll hear CTRs or click-through rates. As we go through. Churn rate, oh, people don't wanna hear the word churn rate, especially if you're in a subscription-based business or a retainer model. Churn is the percentage of people who leave the business, right? So the best way that you can figure out your churn rate on a monthly basis is how many customers did you lose this month divided by the amount of current active customers you have, and that will give you your churn rate. And there are a lot of companies that are on a subscription-based model that live and die on that churn rate, right? They want to keep that churn as low as possible. And that's why it's extremely key if your business is structured that way to make sure that you are showing the love to those customers that are active and not just keep focusing on trying to find new customers. Because forgetting the customers you have is a surefire way to increase that churn rate. The customer journey, right? So talking about the conversion path, well, the customer journey is the entire picture of your business from the moment somebody is self-identified or becomes aware that they have a problem that you can fix with your product or service to when they come to your website or your social media page, seeing your content, booking in or buying their first product, you delivering that product or servicing them, the follow-up, asking for referrals, keeping them into a continuity program so they stay with you. That is the entire customer journey, and that is extremely crucial. And again, that is another key focus of this program. Dynamic content. Dynamic content is content, and you can see it on websites and emails, that is changing, right? It's not a one-size-fits-all. So when you're doing any kind of email marketing and you merge in like the customer's name or the time of day or the month or the name of their business or their city or whatever the case is. That is dynamic content. And that is extremely key because people will relate to this dynamic content. And that's the thing you want people to do is feel that you are relating to them. Editorial calendars, right? So I mean, calendars have been around for thousands, millions of years. And editorial content is content that you're putting out that people are learning from and being attracted to. So marry those two together, really if you had to guess on what this is, you're probably come pretty close. It is a calendar that looks at your entire business, what type of channels do you have content going out, a blog, social media, are you creating ebooks and offers, and then are you going to send it out at certain times. So we look at the whole year, right, there's a process around that. So we're going to be also looking at developing an editorial calendar with you. Email marketing, pretty straightforward. It's using email to market, and we'll get into that. That's, that's been around for quite some time. Friction. So what friction is, is it's any point in your website or your process that makes somebody feel confused, uncomfortable, unaware, not sure what you want them to do. So we try to eliminate that friction in the process. So for example, You know what, you, you see an ad and I'm sure you probably experienced this. You know, somebody, you know, said, hey, come check out this business, you know, Crazy Eddie's, uh, host of, of shoes, right? And, or you see an ad for a specific shoe, right? So you click on the ad, you go to the website and you hit the homepage, right? And now you're like, well, where's that shoe, right? I saw the ad for that shoe. That's what I want. I want to, I want that shoe. So you go to the website and you then gotta go searching for it. That is friction, right? You gotta make sure that the, the scent of the ad is the same when you come over. So take them right to that, that prob— that product, right? The same thing works in retail. I mean, how many times have we been in a store and we ask a sales associate, hey, where do you get the, the, the, the widget, whatever it is? Okay. And they say, oh, it's in the back, right? Aisle 37. That's friction. Now you have to go on a hunt to find it. Well, you have the good customer associates who are like, sure, no problem. Here, let me go find it with you. And they bring you and they get you right to that product, right? That's eliminating friction. Funnels, right? Now funnels, obviously, you know, V-shaped, we're familiar with the shape of a funnel, right? You put stuff in the bottom, stuff comes up the— or up at the top, stuff comes out the bottom. Well, in marketing, there are funnels as well. And we actually have a process where we look at the business not as a funnel, but as a flywheel. We're going to get into that methodology very shortly. But inside your, your flywheel, your circular motion of your business, there are smaller microfunnels for different things. The idea behind that is you've got a top, a middle, and a bottom of the funnel. The top being broad, you're trying to attract people in there. As they qualify and do what you want them to do, they're going to come out the bottom as qualified leads and ready to move on to the next stage. So we see this, TOFU, MOFU, BOFU, right? We'll see these terms throughout marketing and that's what it means. Top of funnel, middle of the funnel, bottom of the funnel. Hashtag, that funny little thing that you see in every type of post with the little, what we call the pound sign if you're used to those phones, number sign, right? It is a hash sign now, hashtags, right? These are key in social media because they're searchable terms. So when you're doing posts and you put them in there, you can overdo it sometimes, people put a lot in there, but if you click on one, it'll actually bring up other posts that contain that hashtag. And there are ways in social media to use hashtags that are going to leverage and get people to engage in the conversation a lot better. HTML, hypertext meta language. This is just the code that websites are in. We're not going to get too much into that. Just know that HTML is the coding language in which websites are built. Are primarily built in. There's also PHP, JavaScript, and all that stuff, but HTML has been around the longest. Inbound marketing. Inbound marketing is a methodology. This is a methodology that's working extremely well. Now when you think of traditional advertising, newspaper, radio, television, these are all outbound methods, right? These are interruptive in nature. We are injecting this into people's lives, right? They're interrupting what they really want and they're being bombarded with this Well, inbound marketing is a methodology in which people will come to you, right? You're putting out valuable stuff that people are looking for, answers to questions that they're having, and they are going to go and consume that content and they're going to want more. And they're going to come to your website, they're going to call you, they're going to come to your events because you've done a great job at educating them and nurturing them and making them want to do business with you through inbound marketing. And that's going to be the main basis of the whole methodology that we're going to be working on. Indoctrination. So in indoctrination, the idea behind this is the very first time that somebody comes to you as a client, you want to indoctrinate them. This is like an introduction to who you are is really what it means. And it doesn't necessarily mean that it's always, hey, this is all about me. Now that you're a customer, I can sit you in a corner, I can tell you all about who I am. 'Cause that's not what you wanna do. You wanna really take them through in a very positive experience, make them feel special, right? You can educate them about who you are, the values of your business, so they know that they've made the right choice. And I've seen it where some clients have an indoctrination process where they send out a really nice gift box that has some collateral about who they are and a token of their appreciation, all that kind of stuff, right? And then I've seen some that they're sending out a specific video by email right? Neither one of those is better than the other. It just has to be what works best for your business. So having an indoctrination is extremely key in a business, but the other key part is you only get it once, right? So when you sign up and they come back maybe a second time, you're a repeat customer, you're not going to get that indoctrination the second time. Keywords. So keywords are the words that are key in anything that you do. They're searchable terms When you're writing blogs, you usually will put in keywords there that you're telling the search engines, hey, rank me for these words, right? Financials, lose weight, you know, get happier, you know, run further, things of those. Those are keywords that may be attached to certain types of content and blog posts that are out there. A landing page. A landing page is different than a homepage. A homepage is the main page of your website, and then from there there's various other service pages and things of that nature. A landing page is a single page that is part of your website that is most likely not linked in the menu anywhere, but it is used to be the spot where you send somebody when they see a call to action on social media, uh, in a blog post or, uh, in a, in a an ad that you're creating. The purpose of this is this: do this one thing or leave, right? Seems a little crass, but really that's what it is. We want them to come there, we want them to be educated about what it is you're going to give them if they do this thing, and then we're going to tell them, hey, if you want this lovely thing, give us your email, fill in this form, buy this product, right? This is what we want you to do. That is a landing page. And then once you go ahead and then do that, it takes you to the thank you page. And through different tracking, you can then track your click-through rates, your conversion rates that we just talked about based on those type of things. Lifetime value. A lot of companies have no idea what the lifetime value of a client or customer is. Really what this is, is how long do you typically have a client and how much money will they bring to your business over that said period of time? That is a lifetime value. Why is this key? Because this will help you determine how much you are willing to spend to bring in a new client. If you know that if you bring them in, they are worth $10,000, right? So yes, you might spend up to $1,000 to bring in $10,000 worth of, of revenue, or maybe it's $100,000 or whatever it is. So knowing that now allows you to actually validate and calculate how much you're willing to spend, which is extremely key. Offer. An offer is, hey, what are you going to present to somebody or offer? Obviously it's named really well, but what are you presenting to somebody that they're going to take advantage of? So an offer could be a free call, an offer could be a free resource, an offer could be a discount on product or service. An offer could be, you know, stop by for our open house. It's an offer, right? It's what it is that you're making to them. It's what you're dealing out to them. And offers are key. And offers also don't have to be, you know, numerical in dollar value exchange, right? It could be their time. You know, a call is obviously their time. You're not necessarily charging them for that. So it's key. PPC. Pay-per-click, right? This is, is ads, Google Ads, Facebook Ads. This is pay-per-click, uh, or, um, PPA, uh, PPA or PPI. It's changing, uh, over time, but it's, um, pay-per-impressions. So the amount of times something's seen, um, but mostly, mostly we say PPC advertising, pay-per-click advertising, uh, is, is something that is extremely powerful. Uh, it's something that 99% of businesses businesses should be using— actually, I could say probably 100% of businesses could probably be using this and seeing return on this investment if it's done properly and saving them time and money over traditional advertising. A qualified lead, right? So not everybody who comes to your website is a qualified lead. Doesn't mean that they're not qualified to use a computer to come there. It means that of your ideal buyer personas that you're developing, Not everybody's going to fit that. Not everybody needs your service. They may think they do, but they may not. So throughout the entire customer journey, you are putting things in place through different types of content, through questions that you're asking on forms, through questions you ask when you do those initial calls to qualify that person. If you've got a sales team, they're looking for, hey, how many qualified leads can you give me, Mr. Marketer? Right? That's what they want to know. So qualified leads are extremely important in your business, because it's also going to eliminate you doing work with people that aren't a fit, or, or you don't want to do work with them, or it's a bad experience just because they're not qualified to be there. But you kind of chase those low-hanging fruit that were there because it was appealing that, hey, how 10 people decided to book a call. Well, this is great, right? Our business is booming. Well, really, only 2 of them are qualified, and they're actually going to go through the whole process and pay you in the end. Responsive design, all right, everybody's got these around, right? Cell phones, right? We carry them around, we can communicate with everybody all the time. So we have to be aware that everything we put out there needs to be responsive, which means that it needs to know, okay, I'm being shown on a phone, or I'm being shown on a computer, or I'm being shown on a tablet, and it will resize and format for that, right? We are in a mobile first world where we need to make sure that it's these devices that we are catering to first, and then our desktops are second from there. Okay, so that's what responsive design means. Retargeting. Oh, I love this term. Retargeting means that if somebody goes and does something, we want to then reach out to them again. Right? Pretty straightforward. Here's the best example. You've got a website, you've got a Facebook page. Not every, not everybody who comes to your website is a fan on your Facebook page, but wouldn't it be great if they were? So we can set up a very basic retargeting campaign using Facebook ads. So we put a tracking pixel on your website and when somebody comes to your website, next time they go on Facebook, they see a post from your business that says, hey, why don't you like us on Facebook? Now, it's probably not going to convert that well being that, you know, abrupt or to the point, you want to provide more value. So the idea would be that you can say, okay, if they've done something, show them more of us. And if they do this, then show them more specific of us, right? We're trying to qualify them through the whole process. We have an exact formula that we use for setting up retargeting ads that we'll be sharing with you through this program. Social proof, right? Social media is huge. And think about it, think about every time you decide to go somewhere, right? You book a trip and you're going to go to a resort you've never been to. What are you going to do? Are you going to go to their website? You're going to read all their marketing copy about how awesome they are and it's the best place to go in the world. Or you're gonna hop over to TripAdvisor and look them up and see what people actually said, right? Social proof. It is proof of what it is that that person is claiming based on the social channels or the social influence that is around them. So you're gonna believe what your friends and people you know say about an experience much more than you are what that business is going to say. So you wanna make sure that you're getting that social proof. Getting reviews on social media channels, on Google reviews about your experience. Don't just get them to send you emails with a testimonial and you have to retype it out there. It doesn't have as much weight or as much social validation that is needed. Social proof is key in business that deals with people and people making decisions about working with you. Tracking pixel. I talked about in the retargeting, a tracking pixel is exactly just a small piece of website code that gets put onto your website. It's on your social channels. And what it does is it just, it puts a cookie into the browser, not a chocolate chip cookie, but a, now I'm hungry, but an actual, it's just a small little text file that goes into the browser so that every time the browser comes to there or to a social media page that you own, it knows that, oh, this person came from here or has visited this. Right? Because you know, in your browser you can clear your history, you can clear your cookies. That is really eliminating that part of it. So a tracking pixel is really just following you around wherever you go. Not to sound creepy, but that's exactly what's happening. A unique visitor. Now a lot of times people will look at their analytics and they'll be like, you know what, hey, my, my website had 3,000 views, right? Or this post had you know what, 500 views, right? But of that, you know, it could have been somebody coming back 10 or 15 times each time, right? So a unique visitor is based on the IP address of that person. So I can come to your page 10 times and your views will be 10, but I'll only rack up 1 unique visitor 'cause I'm a unique person. And anytime you're looking at, How well are you performing? You're looking at the unique metrics on somebody, not how many times the page has been viewed overall, but how many people have hit it. And we do that through unique visitors. Video marketing. So video marketing is using video, just like we talked about email marketing very briefly, but using video. And there is a process to using video, and it cannot be, um, something that Or it can be, I guess, but it's something that you shouldn't just say, okay, I'm only going to be doing video marketing. Video marketing has to be complementary to other things that you do. There are certain times in the process where a video will re-engage somebody and get them feeling better about it, about that process. And we can inject different videos throughout the whole communication or that customer lifecycle, the conversion path, to help embrace people's decision, make them feel good about their decision they made to work with you. And video is very powerful these days. People are watching a lot more video than they are consuming other content out there, so we need to be aware of that and leverage that in our business. So that's it. We're at the end of the— obviously my slideshow ended. So that is our terminology, and hopefully you took some notes and it was helpful to you because we're going to be using those terms as we go through. And if you get an understanding of these terms and what they mean, then it's going to be extremely helpful for you. What I'm actually doing is below this video in the description, I put a link to a glossary of terms that we have on our website that include these terms and plus many others that you can leverage and use and use as a resource for you moving forward. So hopefully this was helpful. I know it was helpful to me to put it together and get it out to you. Um, because these terms are something that I think every business really needs to know and understand if you want to take a serious approach to, uh, understanding your marketing. So thanks for watching that, and we'll see you in the next video.