In Marketing, we often talk about lead generation, customer acquisition, organic growth, and other bizarre terms that might scare people away or just bore them to death. But don’t worry; you won’t have to call an exorcist if your company is planning to perform an A/B Testing for the new Inbound Marketing campaign designed to capture B2B leads.
Damn, that sounded scary! Let’s take a look at the last phrase again:
Your company is planning to perform an A/B Testing for the new Inbound Marketing campaign designed to capture B2B leads.
Okay, so the said company is designing an Inbound Marketing campaign. Inbound Marketing refers to all Marketing efforts that we do that will make customers come to us instead of us trying to reach them explicitly.
A/B Testing is really just testing two different versions of the same thing. It can be a campaign, a page, a social media ad, anything. Not sure whether this image should be in green or red? You do A/B testing to find out which works best.
Leads is as simple as a potential client – in other words, generating potential leads really just means identifying clients that are interested or might be interested in your product or service.
B2B is the abbreviation of Business-to-Business, which in this case refers to the fact that your clients are other companies, not individual customers. A B2C strategy, or Business-to-Consumer, means that you are selling directly to individuals instead of companies.
So let’s try to rephrase the above statement:
Your company is planning to test different versions of the new Marketing campaign designed to attract potential clients.
Doesn’t sound that scary anymore, right? Do you see how the statement becomes more clear depending on the choice of words?
Disclaimer: My purpose is not to oversimplify Marketing concepts, just to show you that they are not as complicated as they sometimes may seem.
Huh, that was a long intro! Thank you for bearing with me.
Let’s go ahead and decipher 7 of the fancy-sounding Marketing terms that don’t let you sleep at night:
- Bounce Rate
The fancy definition: a Marketing term used in web traffic analytics that refers to the percentage of visitors that leave the website without interacting with any element on it.
The simple definition: the percentage of people that arrive to your website, see that there is nothing interesting to do there, and leave. They don’t click on anything, don’t go to other pages, just take a quick look and vanish into thin air. Oops! You might need to improve your landing page.
2. Landing page
The fancy definition: a specific webpage within your website that serves as an entry point in response to clicking on an ad or a search engine result.
The simple definition: any page to which you arrive after clicking on an ad or a Google search result, aka ”the page where you landed on”. It can be literally any page of a website.
3. Key Performance Indicator (KPI)
The fancy definition: a type of performance measurement used to track Marketing goals and evaluate the success of an activity.
The simple definition: an indicator that helps you track the completion of your goals. For example, a KPI can be your followers on Instagram or the likes that you got on a post – in other words, a specific metric that you choose to help you measure your progress. Did you get from 500 to 1000 followers on Instagram in one month? You know this by looking at your Key Performance Indicator, which in this case are your followers.
By the way, if you haven’t reached 1000 followers on Instagram, head towards this post to read about some interesting techniques! (I am sorry, I had to sneak it in…)
The fancy definition: according to MarketingSherpa, a conversion is the point at which a recipient of a marketing message performs a desired action.
The simple definition: did your visitor download your e-book or subscribed to your newsletter? It means that he “converted“! A conversion is simply getting your users to do something specific on your website.
5. Search Engine Optimization
The fancy definition: the process of maximizing the number of visitors to a particular website by ensuring that the site appears high on the first pages of a search engine.
The simple definition: a set of practices that make your website easily readable and understandable by Google. With one purpose: to appear on the first pages of Google (or other search engines)! For more information, check my post on SEO for beginners.
6. Inbound Marketing
The fancy definition: the process of attracting the attention of qualified prospects via content creation, and converting them into leads and customers.
The simple definition: the Marketing actions that you take to make people come to you because they are already interested in your product or service. In other words – they found your content, they liked it, and they want to learn more!
When you provide valuable content through your blog, social media channels, and branding, your potential customers will come to you because they trust you and like what you’re doing. This is what Inbound Marketing is all about – providing value through expertise instead of running after your potential buyers screaming “Buy me! I’m the best”!
It is opposed to Outbound Marketing, where you will have to reach for your customers and initiate a conversation with them even though they didn’t show any previous interest.
7. Real-time bidding
The fancy definition: a means by which advertising inventory is bought and sold on a per-impression basis, via programmatic instantaneous auction, similar to financial markets. (Wikipedia)
The simple definition: let’s say that you go on Google and search for ”red dresses for Saint Valentine’s day”. At the moment you press Enter, all companies that sell red dresses will ”compete” for your attention by trying to appear as high as possible on the first page of Google.
Google decides which ads will appear first by taking into account the maximum price that companies will pay for a click, and the quality of their ad – and all this happens within miliseconds! That’s how the real-time bidding system works. I explain it in detail in my post Introduction to SEM for beginners.
I hope you liked this article! As I already explained, my intention is not to oversimplify Marketing concepts, but to show you that they are not as scary as they initially sound. If you liked the idea, I will be happy to make Part 2!