Marketing dialect can be pretty confusing, sometimes even for marketers themselves. As trends come and go, so do new expressions, which can sometimes have double meanings.
For example, how would you explain the word impression? Artists interpret it as a work capturing a mood, marketers understand it to mean a single display of an advertisement.
But you won’t have to worry about this problem anytime soon – the BIZNIS.HELP marketing dictionary will help you with that.
Let’s avoid communication noise by becoming more familiar with marketing jargon. In each blog from BIZNIS.HELP you will find 5 terms from the marketing dictionary along with their explanations.
When talking about the conversion rate, we need to know briefly what conversion is. It’s a measurable figure of people interacting with your content and subsequently taking the actions you require of them. For example, it could be an order, filling out a questionnaire or contact form, registering for a website, downloading an e-book, and so on.
Conversion rate (CR for short) is a percentage number that shows you how successful you are in requiring certain actions from visitors to your website (or other platforms). It is the ratio of all visits to those that end up taking an action, such as ordering shoes. If your e-shop was visited by 2,000, of which 500 would order something, your conversion rate would be 25%.
Among the important theoretical knowledge that a marketer cannot do without is clearly the AIDA model. It is an abbreviation of 4 English words
Attention, Interest, Desire and Action.
The AIDA acronym represents the stages that customers go through from the moment they first come into contact with a product or service until they make a purchase. Once you have their attention, you need to promote your products, services and their merits to the best of your ability to engage people and make them want to own or take advantage of what is on offer. If you do it right, the action comes in the form of various conversions.
KPI is an abbreviation of Key Performance Indicator, known in English as Key Performance Indicators. It is a measurable indication of the performance of activities and how effectively and how successfully you are meeting your goals in the company. You can measure website traffic and its length, conversions, average profits and a lot of other values, but the most important thing is to pay attention to the fundamental, key metrics that are most important to your goal.
There is no generic template for KPIs. It can be individual to each company, and to each person. You can set goals that are general (build an international brand), but also more minor (for example, create a responsive web design). Thus, the metrics you track in achieving these goals are always different depending on the goal.
Marketing má kvantum stratégií, ako získať klientom nových zákazníkov. Pull Marketing je spôsob, ktorý sa snaží získať zákazníkov a zvýšiť dopyt po produktoch alebo službách. Princíp celej stratégie tkvie v tom, že sa na zákazníkov nenalieha.
Značka cieli na ľudí zaujímajúcich sa o jej služby alebo produkty a snaží sa docieliť to, aby vybudovala brand, ku ktorému sa ľudia budú pravidelne vracať. Cieľom sú tak pevné a dlhodobé vzťahy s cieľovým publikom.
The opposite of Pull Marketing is Push Marketing. While the Pull variant is a non-coercive form of acquiring new clientele, Push Marketing “pushes” the sale and the target customers to buy or use the service that is offered to them right away. The merits of products and services are quickly presented and immediate conversion is expected.
The tool of Push Marketing is powerful advertising that goes to people directly, without any ado. It delivers almost immediate results to the advertiser, but may not work in the long term – this is more the case with Pull Marketing.
We have expanded our vocabulary a bit and will continue to do so next time. Our dictionary still has many blank pages to fill in.