As a business owner, it’s good to know some common marketing terms. Marketing is the best way to get your brand/store out there and gain customers. With enough marketing knowledge, you can earn new customers without spending money on ads. You’ll just need time and patience.
This is an experiment where you present the same thing in two different ways. For example, use one photo for a product and see how your audience reacts. Then you use a different photo of the same product and compare the reactions to each photo.
You can use this type of testing on ads, social media posts, email subject lines, and more
Analytics are patterns in data that can help a business figure out what is and isn’t working for them.
This is the number of people who go onto your website and leave right away.
This is when a customer can recognize your brand and what you sell. For example, the brand Etsy is known for being an online marketplace for handmade goods.
This is showing the customer how you’re different (and better) than your competitors. It helps customers identify your brand and its top qualities.
This is the path a buyer takes from wanting/needing a product to the actual purchase of the product. It starts with the awareness stage, then the consideration stage, the comparison stage, and then finally the buying stage.
A buyer persona is a representation of your ideal customer. You use information like age, location, and favorite social media platforms to create this customer. You then use this customer as a stand-in for all your customers when you make marketing materials.
It’s a message to encourage your customers to do something. You can use CTAs in social media posts or email subject lines.
This is the rate of how many people go through your website or marketing campaign. It’s how many clicks (actions) potential customers take divided by the total number of actions people could take.
This is a program or software that handles everything that has to do with making content. They’re usually websites like WordPress, Squarespace, and others.
This is when you turn a potential customer or visitor into a customer. Though conversions don’t just involve purchases, they can also be subscribing to your emails or following you on your social media platforms.
Cost per click is a metric that you use when you buy ads. It helps determine how much to pay for the ad based on how many clicks the ad will get.
This means the amount of money (or time) it takes to get a lead (customer). It’s a great way to figure out if paid ads are working for you or not.
This is the cost of turning a lead into a customer. It’s the total amount of money (or time) spent on sales and marketing in a specific period divided by the number of people that bought things during that period.
This is a marketing strategy that’s aimed at your customer base. Its goal is to improve a customer’s experience with you and your brand. You can do this by engaging with your customers through social media, emails, and assisting with any problems that arise with their purchase (if any).
Customer retention is keeping existing customers, good customer service is the best way to go about this, but you can also use marketing.
This is a variety of information to create profiles for your audience (customers). Information can include age, location, gender, income, and so much more. It’s good for creating different marketing strategies.
Marketing specifically for online (social media, email, etc).
Email marketing is when you create a variety of emails to speak with your customers directly. We have a great Academy lesson all about emails. Did you know you can send emails right from your GearLaunch dashboard?
This is when your customers, new and old, stay interested in your brand.
This is how you measure the amount of engagement you have. You can measure likes, shares, comments, and email signups.
Hashtags are a great way to follow conversations that are happening on different social media platforms.
This is a type of marketing that has people come to you instead of you going to them (through ads). You can earn potential customers’ attention through social media, blogging, and using proper SEO.
This is when you turn a lot of written information into a visual image to help make things easier to understand.
A lead is a prospective customer.
Lead generation is all the things you do to get leads interested in your store like ads, social media posts, etc.
Marketing is promoting your business through a variety of techniques using email, social media, and ads.
Marketing automation is software that helps you do marketing tasks automatically. This software can help with emails, social media, and more.
Metrics are measured data that show results from doing things like using a specific type of marketing or selling a certain product.
This is an ad on a search engine page, it makes your website one of the first links a searcher can click on.
This is a form of advertising when you only pay when someone “clicks” on your ad.
SEO stands for search engine optimization, which means using techniques to rank higher on search engines. We have a whole series on SEO.
Social proof is when other people recommend your store and that encourages new people to try it. An example is good reviews online of your store increase the chances of new customers giving your store a try.
This is when people recommend your store to another person offline.
Did you know everything on this list or did you learn something new? As a business owner, you should know the basics of marketing so you can show your store in the best light. Once you have these terms memorized, you’ll be able to try more advanced techniques.
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