Whether you are a newbie to the world of marketing or you have a few years of experience in this high-pressure world, you will know that there is a lot more to the job than simply creating flyers and sending out emails. Marketing is becoming an integral part of businesses all over the world and professionals have to know how to analyze data and use it to their advantage to get ahead and make an impression. Today we are looking at just some of the essential marketing terms you need to know.
Let’s start off with a biggie: search engine optimization. Whether you decide to hire marketing agencies to carry out the work for you or not, this is something you want to understand to make the most of your plan. Search engines will rank content depending on relevancy. If you were to search ‘dog’ on google right now, the most relevant results would show up first. The idea behind search engine optimization is to help your website and content rank as highly as possible and reach the first page of search results. This can be a huge deal for a small business and something which is worth looking into.
This is a term you will hear a lot in marketing because it is the main aim for you as a marketing professional. The conversion rate is the percentage of people who take the action you want them to take. For example, if 100 people see a social media post linking to a product and 45 people click the link, your conversion rate is 45%.
Customer relationship management is an integral part of both marketing and sales, and if you are looking to create a good relationship with clients or subscribers then this is a good tool to have. A CRM system will compile all of your customer data in one place and it will allow you to keep an eye on the contact you have with them every single month. It will allow you to build a consistent and a good relationship with clients and customers and this can make a big impact on you and your business.
A Key performance indicator is a metric which is the most important thing you need to do for the company. For example, if you have just launched your website, a key performance indicator for you as a company could be to gain 1000 views by the end of the month. These KPIs will change depending on what you aim to achieve and the idea behind it is that you want to complete these goals for the good of your business.
Did you notice that we used the word metric in our last definition? Well, a metric is anything which we measure to help us know how well we are performing and the type of people we are attracting to the website and social media. Metrics will include things such as your click through rate, conversion rate, page views, followers etc.