MARKETING DICTIONARY #2
We continue to develop our vocabulary. The second marketing glossary from BIZNIS.HELP brings you 5 more terms that are useful to know and will broaden your horizons in the marketing waters.
Ads pop up at us wherever we move. It’s overwhelmed by them both online and offline. They are constantly becoming more sophisticated and many times they are placed really subtly, like a camouflaged chameleon. We call this kind of advertising that can adapt to the environment it is in native advertising.
Native ads often blend in so well with the platform and its environment that they act as part of the platform’s visuals and content. But these are not banners or pop ups. They can look like an article, a status or a newspaper advert. They are not distracting, but at the same time they can fulfil their purpose and be effective and profitable for the advertiser.
Facebook Pixel can also help improve the quality of your ads. It’s a specific code that Facebook generates for you, which you then place on your website. The Facebook Pixel is used to collect data about the actions that site visitors take.
This data generates insights into people’s movements around the site, what they viewed, how long they spent there and what conversions they made. Based on this information, you’ll be able to optimize your ads more effectively, target the audiences that are proving to be the right ones, and engage where your site and your entire business stand to benefit the most.
To set up Facebook Pixel, you’ll need to switch to your Facebook Page’s Business Manager. You must, of course, have an advertising account created (you can only create one Facebook Pixel per advertising account). In the business settings, you will find the Pixels button under Data Sources. When you create it, you enter any name you want, then choose how you want the Facebook Pixel to be installed on your website.
In order to know where to market your product and services and who to target, you mainly need to pre-set certain standards. And that is the meaning of the term Benchmark. Athletes who want to get into the mannschaft have standards, job seekers have to meet some, and business is no exception.
If you create benchmarks, you will make your job a lot easier, you will take a step further in the competitive battle and you will qualitatively evaluate the effectiveness of your marketing concept that has been working so far. These benchmarks are based on a range of information that is relevant to your products and services. They may relate to finances and be based on profits or investments and their effective evaluation. Benchmarks also apply to customers. You find out who the satisfied ones are and then target your marketing to them.
Do you know the strengths and weaknesses of your business? If so, a big plus for you. If not, there are plenty of ways to find out. One of them is a SWOT analysis, a proven and popular marketing tool that analyzes the internal and external factors that affect your business. How they sign off on it greatly impacts your marketing strategy. SWOT analysis is one of the most important steps before developing this strategy and implementing it into the running of the business.
SWOT stands for Strenghts, Weaknesses, Opportunities and Threats, and it is these factors that are observed using this analysis. As mentioned above, it distinguishes them in the internal and external environment of the company. The internal ones represent all the areas that are controlled by your company and that can be directly influenced and altered by it, such as the PR department, distributors, choice of production technologies, and so on. External factors the company cannot influence, such as market segmentation, inflation, legislation and many others. The sum of knowledge about these spheres is the soil on which the business subsequently flourishes.
One of the basic abbreviations, common and often used in communication among marketers, is the abbreviation CTA, composed of the English words Call to Action, translated as Call to Action. The latter is intended for the target audience from which we expect a conversion.
CTA is used in the context of promoting a client’s products or services and creating advertisements or other promotional vehicles that aim to elicit a specific action from people. It is a specific thing that we want a potential customer to do. It could be a call to click through to an e-shop and shop, to put their email on a newsletter subscription, to tag someone in a social media post, to call and order a product, and lots of other appeals. These should produce tangible and measurable results for the CTA sponsor every time.
We’ve got CTAs for you too – stay tuned for the next installment of our marketing glossary coming soon.