If you find this article, there must be a certain marketing term that is “making it difficult” for you. Is it basic words like KPI, CPL, ToFu, MoFu or more advanced like CRO, Churn Rate, ICP…?
Rest assured, with over 60 common concepts and a bit of expertise, I believe this article will help you understand the concept you are looking for. This compilation of the latest 67 Marketing terms of 2021 is for you.
Let’s explore each term one by one!
Basic Marketing Terms
Before diving into complicated and confusing terms, strengthen your knowledge by taking a closer look at these basic marketing terms :
1. Digital Marketing (Digital Marketing)
Digital marketing is all forms of communication through digital devices aimed at persuading customers to order products or services.
2. Brand Positioning
Brand positioning is how your brand stands out from your competitors and how customers identify and connect with your brand.
3. Brand Awareness
It includes various elements, such as salient features, values, etc.
You can position your brand through many different forms, such as radio, visual design, social networks, etc.
Brand recognition is the degree to which users are able to recall or recognize your brand. It consists of 2 main elements:
- Brand name recall – This is a measure of how closely the brand name relates to the product type (for example, can customers think of a car product when they hear the Toyota brand?)
- Brand Name Recognition – Can consumers recognize a brand when they see attributes like the brand’s logo or colors?
In addition, brand identity includes many other factors. For example, when customers see your brand or product, they know that your products will provide the best solution to their problem or need.
4. Demand Generation
Demand generation is the way to get customers to use your product or service.
More specifically, it is based on data collected from digital marketing campaigns to create awareness and interest in your services.
5. Revenue Performance Management
Revenue performance management ensures that customers continue to repurchase or purchase more products/services to maximize profits.
The primary goal of revenue performance management is to break down organizational silos. And establish a common set of data, common processes, and common language across all teams in the enterprise. To work towards a common goal of generating revenue.
6. Inbound Marketing
Inbound Marketing is a customer-centric marketing method. That means focusing on attracting potential customers instead of marketing to all audiences.
Your business can engage customers through relevant, helpful content posts to blogs, social media networks, or websites.
In the long run, inbound tactics will help your business maintain ROI. It helps to optimize costs, not spending too much budget like Outbound tactics: Paid advertising or phone contact, etc.
To deploy inbound marketing strategy is one effective, p attempt Marketing outsourcing is the best solution for the time the economy affected by the epidemic Covid-19. The use of this service helps businesses focus their human resources on product and sales.
7. Lead Nurturing
Lead nurturing is the process of building and reinforcing trust with potential customers to turn them into real customers.
The ultimate goal of lead nurturing is to give them a unique experience and interest in your product. Then create the transition.
The term “Flywheel” in Marketing was first introduced in 2018. This term represents the change that marketers have made to create success in B2B marketing.
The Flywheel model puts the customer at the center of the business and highlights resale opportunities through relationship building and customer service commitment. It shows how you “retain” customers so that they choose to use your service/product again.
9. Buyer Persona (Customer Portrait)
A customer portrait is a fictitious sketch of the characteristics of your ideal customers.
Customer profile can include factors such as demographics, psychology, behavior, etc.
10. Ideal Customer Profile (ICP – Ideal Customer Profile)
The ideal client profile is a hypothetical description of the type of company that can achieve the most success in your business.
These companies tend to have quick, successful sales cycles and have the best customer retention rates. In particular, many users automatically promote their brand to others.
11. Sales Enablement
Sales enablement is a combination of training, tools, and content to help your sales team function better and more efficiently.
Your sales team needs regular training as well as updated information so that they can implement successful sales strategies.
Besides, you should also train them to talk and advise customers appropriately in different contexts.
12. Account-based Marketing (ABM – Targeted Marketing)
Targeted marketing is a more innovative, creative approach to marketing than traditional marketing.
ABM is not like the old method: develop a customer persona and then implement a variety of ways to get them to notice your brand.
However, ABM is based on the ideal customer profile (ICP) and finds the best ways to increase engagement with the accounts of the target customers.
Targeted marketing is about sending the right messages to the target accounts. This form of marketing will greatly support business strategies after successfully approaching ABM.
13. Contextual Marketing (Contextual Marketing)
Contextual marketing is the strategy of looking at the behaviors and conditions surrounding your marketing efforts to ensure that relevant content is delivered to the right audience.
To provide contextually relevant information, you need to understand the psychology of your guest persona. From there, you’ll know how to get started, continue the story, and choose content that resonates with them.
14. Word-of-mouth Marketing (WOM – Word of mouth marketing)
Word of mouth (WOM) marketing occurs when a certain customer is really satisfied with your product/service and recommends it to other potential customers. They can introduce them verbally or in writing.
This is also considered the most effective form of advertising and the least budget-consuming.
15. Conversational Marketing
Conversational marketing is arguably the fastest marketing way to get consumers to better understand your business and products through live chats.
This form of marketing helps build relationships and create real experiences for customers and buyers.
Chatbots are the most common channel used in conversational marketing. In addition, you can also take advantage of additional social media platforms to interact with users.
Terminology of indicators in Marketing
After explaining the terminology in Marketing Basically, next I will introduce the terms of the indicators in the Common Marketing.
16. Churn rate
The churn rate is used to calculate customer retention. This ratio is very important for companies with a recurring revenue business model.
This ratio helps you determine the number of customers your business has lost over a certain period of time.
Example of how to calculate the Churn ratio:
Let’s say your business had 100 customers last quarter, however, there were also 10 customers who left because they no longer want to continue using your product/service. The churn rate will be calculated as follows:
Churn Rate = (10:100) x 100% = 10%
17. Customer Acquisition Cost (CAC – Customer Acquisition Cost)
Customer acquisition costs are the costs involved in converting a lead into a customer. CAC is usually calculated according to the following formula:
- Customer Acquisition Cost: The cost of customer ownership
- Total amount spent on sales and marketing in a period: Total amount spent on sales and marketing during a given period
- # of customers signed during that period: Number of customers acquired during that period.
18. Cost Per Lead (CPL – Cost Per Lead)
Cost per lead is the amount spent to acquire a lead.
Cost per lead is often used in paid advertising. The more potential customers click on your ad, the higher this cost will be.
19. Key Performance Indicator (KPI – Performance Indicator)
Performance metrics are used to track progress toward marketing goals.
By setting the right KPIs, your business can continuously measure its success at each point in time. Besides, make the necessary adjustments to optimize your marketing strategy.
Leading performance indicators (LPIs) and strategic performance indicators (TPIs) can help you determine what efforts should be made to quickly accomplish your stated goals. out.
20. Customer Lifetime Value (CLV – Customer Lifetime Value)
Customer lifetime value is the predicted future net profit from an existing customer.
Formula to calculate CLV:
- Customer Revenue: revenue earned from customers
- Gross Margin: Gross margin
- Churn Rate: churn rate
21. Net Promoter Score (NPS – Satisfaction Index)
Satisfaction metrics are used to determine the likelihood that users/customers will recommend your company to others. The scale of the satisfaction measurement index is from 1-10.
Using the customer satisfaction index, you can easily know the level of customer loyalty and divide them into 3 different groups:
- Score 9+: People who will recommend your product/service
- Score 7-8: People who love your product/service
- Score 0-6: People who are not very sympathetic to your product/service
Reviewing NPS regularly helps you to come up with timely solutions to improve your products/services.
22. Growth Marketing (Growth Marketing)
Growth marketing is the process of designing and conducting experiments to optimize and improve areas that are not performing well.
Growth marketing can be applied across the enterprise through the AAARRR model (also known as the pirate index).
In which, the term in Marketing AAARRR corresponds to:
- Awareness – Awareness
- Acquisition – Conversion
- Activation – Activation
- Revenue – Revenue
- Retention – Maintain
- Referral – Introduction
Terminology of Marketing Tools
Below is a summary of the 8 most popular marketing tool terms today. Let’s find out more.
23. Tech Stack (Software Stack) – Stack Solution
A solution stack is a collection of technology and software that an organization uses to run its business.
Most businesses today use CRM (customer relationship management), CMS (content management system), sales promotion tools, marketing automation platforms, and management programs. project.
In addition, additional integrations and servers are used to operate the platforms in parallel.
24. Customer Relationship Management (CRM – Customer Relationship Management)
What is CRM software ? CRM is more than just a database of contacts. It is also a sales promotion tool that helps identify and analyze customer needs and wants. It’s a comprehensive platform for the sales process.
The main feature of CRM software is the ability to keep contact information, such as name, phone number, email, etc. related to a certain object.
Popular CRM software includes HubSpot, Salesforce, and Zoho.
25. Content Management System (CMS – Content Management System)
A content management system (CMS) is software that allows marketers to create, design, store, edit, manage, and track the effectiveness of existing content on a website.
Popular CMS software includes HubSpot, WordPress, and Squarespace.
26. Marketing Automation (Marketing Automation)
The term in Marketing “ Marketing Automation” refers to software that helps automate your marketing tasks.
Thanks to these software, you can nurture your potential customers by automatically sending useful content to them when they need it.
Using marketing automation software helps marketers streamline tasks, increase overall efficiency, capture customer needs and wants, and improve ROI.
27. Marketing Operations
The definition of “Marketing” refers to everything that happens within your CRM and marketing automation platform.
Through marketing activities, you can convey the right information, at the right time to the people who are interested in your products and services.
28. Sales Operations
Sales activity refers to everything that happens in the CRM platform and drives sales.
Through Sales Operations, your sales team will effectively communicate with customers and take control of their sales process.
29. Services Operations
Service operations are the management of all workflows, tools, and processes necessary to maintain and improve the overall customer experience.
It includes the implementation, management and adoption of CRM software, issue tracking, automated campaigns, product usage, content base and customer feedback.
30. Revenue Operations
Revenue operations are the alignment of marketing, sales, and service to drive accountability and increase business efficiency.
The goal of revenue operations is to help your business run more efficiently.
Marketing funnel terminology
Marketing funnels help you determine the current “buying state” of your customers.
If you do not know the terms related to Marketing funnels such as ToFu, MoFu, BoFu, MQL, SQL, CQL, etc., then let’s find out with FIEX below.
31. Top of the funnel (ToFu)
The marketing term “top of the funnel” refers to the early stages of the buying process. In this stage, buyers are looking for information or products to solve their problems.
Therefore, you should add Call-to-actions to your videos or posts. Because somewhere when potential customers see them, they will take the actions you expect them to do.
32. Middle of the funnel (MoFu)
The middle of the funnel represents the middle of the buying process. The buyer identified his problem and researched various solutions.
This is also the stage where you can transition from marketing to selling to customers.
The bottom of the funnel represents the final stage of the buying process. This is the stage where the user has identified the problem, researched, drawn possible solutions, and is ready to purchase.
At this stage, buyers often ask to see a free demo or consultation to better understand the product.
34. Marketing Qualified Lead (MQL – Lead for Marketing)
Lead for marketing is the 3rd stage of the 6 stage life cycle of the buyer’s journey. MQL refers to the number of visitors that converted.
When you identify someone as the right fit for your business, they instantly become an MQL. Then you should care and nurture them to become real customers.
35. Sales Qualified Lead (SQL – Lead to close the sale)
MQL and SQL are both qualified leads that are qualified to become customers. So what are the main differences between these MQLs and SQLs?
Leads to close the sale (sales) is the 4th stage of the 6-stage lifecycle of the buyer’s journey. An MQL will be treated as an SQL when they start chatting about ordering products/services.
The SQL phase is considered the most important and difficult stage because this is where the transition from marketing to sales takes place.
36. Conversation Qualified Lead (CQL – Lead to Chat)
Conversational marketing and chatbots are increasingly used and popular. Potential customers to chat with are those who have expressed interest in your product/service.
These customers will often ask specific questions and expect to get your response as soon as possible.
37. Buyer’s Journey
The marketing term “buyer journey” refers to the user’s process from the beginning of the search and to the end with the purchase of the product/service.
It starts at the awareness stage, that is, when the user realizes they are facing some problem.
This is followed by the deliberation phase, that is, evaluating different solutions to their problem.
The final stage is decision making, which means they will make a choice and order the product/service that best suits their needs and goals.
The buyer journey is different from the customer journey. Because not every potential buyer will turn into a real customer.
38. Multi-touch Revenue Attribution
Multipoint revenue attribution is the process of organizing, collecting, and cataloging all the interactions that occur when an individual decides to buy your product/service.
Multipoint revenue attribution helps you understand how well your marketing is doing for your business.
Marketing terms about customer marketing
Next, I will introduce in detail 9 terms in Marketing about customer marketing. Maybe you are no stranger to seeing them.
However, please calmly review each one because maybe you are misunderstanding some basic terms.
39. Customer Marketing (Customer Marketing)
Customer marketing is a set of strategies and tactics that target your potential audience to improve their experience using your service/product. As well as increase the value they receive when interacting with you.
Through customer marketing, you can retain existing customers, promote your brand, and nurture leads to convert them into real customers.
40. Customer Acquisition
The marketing term “Customer Acquisition” refers to all the steps, processes and resources involved in attracting customers the first time they come to your business.
Brand identity, lead generation, product marketing, nurturing and sales strategy all fall within the realm of customer acquisition.
41. Customer Retention
The concept of “Customer Retention” represents the act of interacting with existing customers to motivate them to continue using your product/service.
The first step to customer retention is to determine which customers are likely to buy again. Next comes support and creating a better customer experience.
42. Customer Expansion
Customer expansion is the act of increasing MRR (Monthly Recurring Revenue).
This revenue can be increased if your business can sell more products than the previous month or upsell.
43. Customer Success
Customer success is the expected or unexpected results that customers get when using your product/service.
When customers can maximize the value received, they are more likely to return to use your products/services as well as spread word of mouth to many other audiences.
44. Customer Support
“Customer Support” means to answer any problems/problems your customers are having.
You can use a support request processing or self-help system to support your customers wherever you are.
45. Customer Service
“Customer Service” means that you support your customers in the process of using your products/services, in order to maximize their effectiveness.
Customer service is also considered customer support but it is more proactive.
46. Customer Satisfaction (Customer Satisfaction)
Customer satisfaction is about how you manage customer loyalty.
Reviewing customer satisfaction not only helps you know how they feel but also know if they will recommend your products/services to others.
47. Customer Journey
The customer journey is about tracking the customer’s experience from the first time they know your brand until they decide to buy.
This marketing term denotes a more complex process than customer nurturing.
Marketing terminology for marketing and product development
Next, I will introduce 7 marketing and product development terms in detail. Don’t miss any of the important terms below!
48. Product Marketing
Product marketing is the process of bringing a particular product to market and making sure that it is successful.
49. Go-to-market Strategy (GTM – Go-to-market Strategy)
A go-to-market strategy is a blueprint that outlines how you will demonstrate the unique values of your product. As well as how to attract customers and gain a competitive advantage.
The purpose of the GTM strategy is to provide an impressive and “resonating” product launch roadmap for potential customers.
The GTM strategy is quite similar to the Place strategy in the 7P Marketing model . This model has been successfully applied by many businesses around the world. You can refer to apply for your business.
50. Product-market Fit
Product-to-market fit means your product fits the needs of the market. Product-to-market fit occurs only at the introduction and growth stages of the product lifecycle.
To achieve product-market fit, the first thing you need to do is create a minimum viable product (MVP).
51. Minimum Viable Product (MVP – Minimum Viable Product)
The minimum viable product is one that has all the features to satisfy your target market.
Manufacturing MVP is the ultimate goal of the product development phase of the product lifecycle. Essentially, a GTM strategy is a blueprint that outlines how you will use to showcase your MVP.
52. Total Addressable Market (TAM – Total Available Market)
Total available market is the amount of potential revenue your business could achieve if people interested in your products actually buy them.
Total available market can help you identify the target market where you should focus your marketing and sales.
53. Product-led Growth (PLG – Product-led Growth)
Product-driven growth is a strategy that relies on the product itself to attract, convert, and retain customers.
You can offer your customers free trials and then start charging if the user wants to take the product to a higher level.
54. Product Qualified Lead (PQL – Potential customers are qualified to use the product)
This marketing term refers to people who have tried and shown love for your product.
These customers tend to reuse because they already have a back-and-forth with your product/service.
Glossary of Website Strategy and SEO
Finally, there are 13 terms about Website and SEO strategy that you definitely cannot ignore:
55. Lead Generation Website (Website to attract potential customers)
The main goal of these websites is to introduce your products/services as well as your business.
In particular, based on the actions that users take on the website, you can classify into many different groups of objects.
Then determine which audience group is the best fit for your product/service.
56. Conversion Rate
Surely you are not too familiar with this marketing term – Conversion Rate. It is the ratio of the number of people completing the desired action by the website owner to the number of visitors.
Desired actions could be: Filling out forms, clicking on call-to-actions or calling hotlines, etc.
57. Conversion Rate Optimization (CRO – Conversion Rate Optimization)
Conversion rate optimization means increasing the percentage of customers that take the desired action after they visit the website. For example, filling out forms or providing information to chatbots, etc.
Through key metrics, you can gain insight into how your customers interact with your website and what actions they take.
These marketing metrics also help you determine which strategies work best to attract leads and convert them into buyers.
58. Wireframes (Website framework)
The skeleton is the blueprint for your website. The focus of a website is not the look and feel of the website, but the structure and layout of the content.
The website framework is created for the purpose of arranging the content in a scientific way to motivate users to take the actions you want.
59. Web Content Outlines
A website content outline reflects the structure a finished page will use.
Outline the website content including the article title, main body content, technical information such as SEO metadata, the page title, and the position of the page in the website architecture.
60. Information Architecture
Information architecture is the organization and structure of content before developing a website. It helps you determine how to connect and categorize the content on the website.
Information architecture includes planning the main navigation of the website, examining existing URLs, determining which ones to keep, merging, deleting, and establishing URL structure.
If the information architecture is good, users will easily find the content they are interested in on your website.
61. Landing Page (Landing Page)
A landing page is a website optimized to attract potential customers. You can use landing page forms to collect visitor information.
Optimized landing pages are those with engaging, engaging content and clear conversion paths.
62. Thank You Page
The thank you page will be displayed as soon as the customer has completed submitting the information on the landing page.
Thank you pages play an important role in your lead nurturing strategy. Because they provide the incentives they are looking for.
63. A/B Split Testing
An A/B test is a test that compares 2 variables by showing them randomly to different groups of people over a specific time period.
A/B testing is a pretty effective way to help you see which marketing tactics are working for your business.
64. Responsive Design
Responsive design refers to the way in which a website automatically adjusts to the screen size the user is viewing.
Thanks to the responsive design, your website will display properly on all devices such as computers, phones or tablets, etc.
65. Search Engine Optimization (SEO – Search Engine Optimization)
This marketing term represents the work of optimizing your content and website so that it can rank high on search engine results pages as well as increase traffic.
In their marketing strategy, businesses should not ignore SEO work. Because the benefits it brings are extremely great.
SEO includes on-page SEO and off-page SEO. On-page SEO is the process by which you change the web code as well as update the content to improve website rankings.
Off-page SEO is a way of reaching out to external individuals to get more backlinks as well as traffic from other sources (such as other websites, social networks, etc.)
66. Paid Search (Paid Search)
Paid search is the display of ads on search engines based on the terms or keywords that users are searching for.
Paid search works on the principle of pay per click. This means that you will have to pay a certain amount when someone clicks on your ad.
67. Keyword Research
If you are a Ddigital Marketer, then surely you will be no stranger to the marketing term “Keyword Research”. Keyword research is the process of identifying the terms your potential customers are searching for.
Hopefully, after reviewing the above 67 marketing terms, you have been able to strengthen your vocabulary about Marketing as well as better understand the basics in the field of Digital Marketing.
Please review it again if you do not really understand any of the above terms. Do not forget to follow the latest articles to update useful knowledge about Marketing services !