Last Updated on: 26th April 2020, 04:29 pm
Have you ever been to a hospital and while interacting with the medics, you felt lost and confused because some words and terms used didn’t sound familiar?
Exactly! It is so even in the business world. Whether you’re an individual or business, it is important to know some basic business terms since we engage in business every single day – In school, at work, in the marketplace.
It enables us to speak and communicate confidently with others during our involvement in business transactions.
Today, I want to share with you 50 sales and marketing terms every individual should know.
I’ve arranged them for easy reading.
50 Marketing And Sales Terms Everyone Should Know
1. A/B Testing
This means testing or comparing two versions of a product, service, webpage, email, landing page, CTA, etc to determine which one performs better. It helps to improve marketing strategies.
This is putting a spotlight on a product, service, or business through paid broadcasting for exposure or more sales. It could be done online or offline.
This involves measuring and tracking data to create meaningful patterns from them. The sources of data could be websites traffic, conversions, stores, social media, etc. It helps to make better marketing decisions.
This is a short form of weblog. It involves writing articles, commentaries, descriptions of goods or services and publishing it regularly on a website. It is a key component of inbound marketing. It helps to drive website traffic, builds trust and authority, and generates sales and leads.
5. Bounce Rate
The rate at which an intended action was not performed at all or not performed to satisfaction.
For websites, bounce rate is the percentage of people who land on a page of a website and leave without clicking on anything else, nor navigate to any other page on the site.
For emails, the bounce rate is the rate at which an email could not be delivered to a recipient’s inbox.
6. Buyer Persona
This is a hypothetical representation of your ideal customers/clients based on market research and real data from existing customers. This summary helps marketers define their target audience.
7. Brand / Branding
A brand is a name, symbol, logo or any other thing used to distinguish a product, service or business.
Branding means bringing awareness to a specific product, service or business while distinguishing it from other establishments.
8. Business to Business (B2B)
This describes a business that markets or sells to other businesses, e.g. a farmer supplying a local restaurant with vegetables.
9. Business to Customer (B2C)
This describes the business that markets or sells to consumers directly, e.g. Jumia, Amazon, etc.
10. Call to Action (CTA)
A link, button, email, or the likes that encourages a website’s visitor to act on a website e.g. ‘’Buy now’’, ‘’Download’’, etc.
11. Cold Calling
Approaching prospects by phone for the first time to explain your business, product or service (you’ve had no interaction with them before).
This is a piece of information for reading, engagement, or sharing. It could come in the form of a blog post, video, image, podcast, slideshow, etc. It plays an important role in website traffic, sales, and lead generation.
13. Content Management System
A web program that makes it easy for non-technical users to create, edit and manage their website and its content.
14. Conversion Path
A path or series of actions a prospect will go through before eventually becoming a lead. These may include a call to action, downloadable content, lead forms, thank you pages, etc.
15. Conversion Rate
The percentage of people who completed the desired action such as subscribing, purchasing, filling a form or any other activity on a webpage.
16. Cost per Lead (CPL)
The total cost/amount used to gain a lead through marketing. It is a crucial metric every business should note as it influences customer acquisition costs CAC.
17. Customer Acquisition Cost (CAC)
This is the total cost of gaining and sustaining customers. It is calculated by summing up the time and money value spent on customer acquisition for a specific period and dividing the results by the number of new customers gained. CAC = (money plus time spent) / number of new customers.
18. Customer Relationship Management
This is a software that enables a business to organize all or most of its marketing and sales activities, including storage of its customers’ information, tracking, emails, analytics, etc. It lets businesses keep track of their dealings with existing and potential customers.
Specific profiling of people used in segmentation during marketing and advertising. It considers age, gender, income, interest, social class, family life, etc.
20. Digital Marketing
I otherwise call this online marketing. It involves creating awareness for your business solely via the Internet. It could be through social media, email, content marketing, etc.
This is a book in digital form. It could be sold or used as a lead magnet. It often contains longer content than regular blog posts.
This is selling products or services online.
23. Engagement Rate
A measure of the amount of interaction a content receives. It could be in the form of likes, shares, comments, CTAs, etc.
A historical, quantitative and qualitative analysis of data used for prediction of markets and sales trends that are likely to occur.
Elements in a website that are confusing, distracting to visitors and could cause them to move on from your page.
26. Inbound Marketing
Drawing in/attracting visitors via content marketing, podcasts, videos, SEO, emails, etc rather than paid advertising.
This is a visual content used to relate complex information in an easy manner to understand and digest.
A particular word or phrase describing the content of the webpage. It enables webpages to get indexed by search engines like Google, Yahoo, etc.
29. Landing Page
A specific page on your website designed for a particular conversion. It could be for sales or lead generation.
An individual or company that has shown interest in your product or service.
31. Lead Nurturing
Building a relationship by developing a series of communication with a lead through a variety of marketing techniques (records, emails, messages, etc), to close a sale.
Automating your marketing campaigns. It involves lead nurturing and behavior-based strategies.
Extensive investigation of a specific industry for better business choices and decisions.
Promoting and distributing products or services to customers profitably after identifying their requirements.
This means designing and formatting your website to make it easy to read and navigate on a mobile device.
A specific area of the market in which a business tries to meet their needs. (Think of a pedicure blog for an example).
An offer is an asset or giveaway presented to prospects, maybe on a landing page.
They design it to help a business generate more leads. It could include everything from E-books, templates, webinars, and more.
38. Pay per Click (PPC)
A form of digital advertising where you pay, only when someone clicks on your ad.
A track record or a series of case studies that present a proof of the value of a business to potential customers.
The development of a website that makes it adapt according to the device that the consumer uses to view it (e.g. desktop, tablet, mobile).
In mobile responsive design, there’s no need to build separate websites for each device.
41. Return on Investment (ROI)
A measure of the profitability you make in marketing or sales.
A prospect that is recommended to a product or service by another person or medium.
43. Search Engine
Tweaking elements in a webpage like images, tags, title, keywords, links, etc to increase the webpage’s performance in search engine results.
44. Social Media
Online platforms that help users connect. Examples include Facebook, Twitter, Instagram, WhatsApp, etc.
Businesses can use social media to increase awareness, sales, and growth of their businesses.
45. SWOT Analysis
This is an internal study used by organizations to identify their strengths, weaknesses, opportunities, and threats.
46. Unique Selling
A feature that distinguishes a product or service from its competitors. It could be the quality, low cost, ease of usage, etc.
I honestly didn’t know its meaning before writing this blog post. URL is a short form for Uniform Resource Locator. This is the address of a piece of information that is found on the Internet such as a page, image, and document. E.g. https://www.digitalbreeze.com.ng/blog
48. User Experience
The overall experience a user has with a brand or website, from the discovery all the way through engagements, purchases and even advocacy of the brand.
A series of interconnected web pages containing information that serves an individual, business or organization.
We couldn’t help writing less.
If you know of any other relevant marketing terms, kindly share them in the comments section below.