My Favorite Marketing Terms

While marketing may be a single bullet point in your regular leadership team meeting agenda, how much time does your team actually apply to marketing your products or services? With all the buzz surrounding social media, traditional marketing has taken a back seat, and that’s a shame.

All types of business – whether B2B, B2C, or non-profit – should spend the time and effort to understand all elements that fall within the marketing pie, and one important piece of the marketing pie includes the terms that appear again and again.

While marketing dictionaries exist in print and online, here are my five favorite marketing terms:

BRAND PERSONALITY:
With so many brands in the marketplace and so much noise as a result of social media, now marketers treat brands as if they had personality traits. When brands are given human personality traits, such as, creative, friendly, happy, etc., brands quickly stand apart from the crowd.

UNIQUE SELLING PROPOSITION (USP):
Years ago, people joked that if they had two minutes in an elevator with Bill Gates, they had to be prepared to articulate their company’s competitive advantage or their personal brand in two minutes or less in what became known as an "elevator pitch." The elevator pitch has gone the way of the Ford Edsel, and in its place, we now have the unique selling proposition. What makes a company unique? Why should a company stand apart from the competition? Why should a company be an industry leader? And for personal brands, for example, what makes Taylor Swift different from other singers?

SOCIAL LISTENING:
Sprout Social has a wonderful definition: "Social listening involves analyzing conversations and trends related to your brand. These include conversations relevant to your company, competitors and industry at large. Insights from these conversations are used to make informed marketing decisions. Social listening is about more than tags and @mentions. Sure, listening involves acting on direct feedback from people. But it also involves reading between the lines."

Here's a breakdown of social listening:
(1) Who is your audience?
(2) What does your audience want?
(3) When is your audience engaging with you?
(4) Where is your audience active and engaged?
(5) Why does your audience talk about you?
(6) How can you better serve your audience?

CALL TO ACTION:
Everyone in a marketing capacity should always sing this tune and provide this reminder. For every campaign, initiative, strategy, you must always have a call to action to attract prospective customers. Here are some examples: Subscribe now. Download this case study today. Complete this survey now. Sign up to receive a free gift today.

KEY PERFORMANCE METRICS (KPMs) (also Key Performance Indicators or KPIs):
This term is so important that it should be on the mind of every business person each and every day. All marketing campaigns must be evaluated to determine the return on investment. How many click-thru’s to your main website or campaign-specific landing pages resulted from emails? How many leads came as a result of tradeshow attendance or telemarketing? How many likes appeared on your Facebook page? How many mentions and retweets appeared on Twitter/X? How many of your videos were uploaded on YouTube? How many sales resulted from your social media activities? Don't implement any marketing campaign without first knowing how you're going to measure it's success.

What are your fave marketing terms? Please chime in and share.


Image Credit: Stuart Miles via FreeDigitalPhotos.net.

To read more:
Glossary of Branding Terms:
https://brandsbyovo.com/glossary-of-branding-terms/

Branding Glossary - How Brands Are Built:
https://howbrandsarebuilt.com/branding-glossary/

The Ultimate Marketing Dictionary of Terms and Definitions
https://coschedule.com/marketing-terms-definitions

The Ultimate A-Z Dictionary of Marketing Terms:
https://blog.hubspot.com/marketing/inbound-marketing-glossary-list