Marketing plays a pivotal role in the success or failure of any business. The better and more strategic it is, the more the chances of success.
On the contrary, if the business fails to plan and deploy marketing strategies correctly, it might end up packing the business soon.
Keeping yourself up-to-date with marketing jargon and key marketing terms is important in today's digital age. Unless you rely solely on offline business and traditional marketing techniques, learn common marketing terms to keep yourself abreast.
The year 2022 is about to end and to stay ahead of competitors in 2023, you need to keep yourself updated about marketing terms and concepts.
Let’s dive straight into some of the common marketing terms to know in 2023-2024.
Firstly it is important to shed some light on basic marketing terms commonly used, whether digital marketing or traditional marketing.
Brand identity is representative of your brand’s personality and positioning and tops the marketing terms list. It includes everything from the value of your brand to how you communicate your product and what your customers feel when interacting with it.
It helps customers differentiate your brand from the rest of your competitors. Some examples of brand identity elements include brand name, logo, graphics and images, color scheme, typography, tone and voice, jingles, slogans, and catchphrases.
Customer satisfaction is the common term used in marketing. It determines the level of customer expectation by using a company's product or service.
Simply put, it determines whether customers feel content after using the company’s product or service.
Whether you have gone completely digital or relying solely on a traditional business and marketing model, customer satisfaction is the core of your brand’s long-term success.
Customer retention refers to the amount of customer loyalty or how often the client returns to the brand to purchase a product/service.
Around 18% of businesses focus on customer retention, while 44% focus on customer acquisition.
Factors leading to high or low customer retention include customer experience, customer support, product/service variety, and advertisement channels.
Unlike brand identity, you can’t take control of brand image. It is how customers recognize your company, products, or services. But keep in mind that brand image is not always related to buying of products or services.
Sometimes brand image tarnishes over time due to poor customer support or failure to leverage features rivals offer. A good brand image attracts new customers, introduces new products easily, and improves customer relationships.
The buyer persona is a fictional representation of your target audience that addresses their pain points and solutions. Its purpose is to help content creators to develop content around the target audience and provide personalized solutions.
Developing a buyer persona allows you to increase customers, boost brand awareness, and grow your sales.
Buyer persona in digital marketing accounts for over 90% of the company’s sales.
Customer lifetime value is the expected amount of money a customer will spend on your product or service.
The customer lifetime value formula can help you calculate CLV:
Customer lifetime Value= Average Total Order Amount x Average number of purchases per year x retention rate.
Brand positioning is the process of placing your brand in the minds of your customers and differentiating from your competitors.
It allows you to set your brand apart from the rest by communicating with the customers what they will get and differentiating you from all other products/services. Brand positioning examples include Coca-Cola, which has been serving customers with soda for 125 years.
Moreover, brand positioning also sets us apart from the rest by bringing joy, happiness, sharing, and friendship to be in a better position.
Another example of brand positioning is Apple, setting a benchmark for companies related to technology and smart devices.
Digital marketing needs no introduction as it is being adopted by businesses to reach the greater target audience and increase revenue.
However, some marketers might not be aware of all digital marketing terms due to their extensiveness and enormity.
Let’s briefly explain digital marketing terms to know in 2023-2024.
Digital marketers use A/B tests to figure out which of the two variants performs better. Some examples of A/B tests include email marketing campaigns, social posts, landing pages, or display ads.
While performing A/B tests, half of the audience receives the first version, whereas the second half receives the second version.
The performance is measured based on conversion rate, including completion of the form, product checkout, and percentage of clicks.
Common marketing terminology used extensively in eCommerce is abandoned cart.
An abandoned cart is a term used when a user adds a product to a cart but does not checkout to complete the buying process.
The reason might vary, such as higher cost compared to other stores or the customer is not satisfied with the product's price.
Most e-commerce platforms like Ali Express send personalized email alerts the shoppers to complete the checkout process.
You might have heard of this term while browsing websites and researching how to start an online business.
Affiliate marketing is the process where a webmaster or content creator promotes the products/services of a vendor and earns a commission when someone purchases from the unique affiliate link.
Affiliate marketing allows you to earn money without having an inventory or creating a product/service from scratch. You can start working on affiliate marketing right now.
All it requires is the cost of domain and hosting, which will be no more than $50-$100 per year.
However, if you want to use the premium theme in your affiliate website, your cost would increase, but at the start, you can start using free ones.
Some of the biggest and most renowned affiliate programs include Clickbank, Amazon Associates, Rakuten, and ShareaSale.
AdSense is a program by Google that allows publishers to earn revenue by displaying ads on their websites. The ads can be in the form of video, text, or images.
If you are new to blogging or digital marketing and thinking of earning passive income by displaying ads, AdSense is a viable option.
The pay rates differ from one ad to another and depend on pay per click basis.
Alt Text, also known as alternative text, is the text that is displayed when you hover your mouse over the image.
The text is written in the HTML code of the web page to help users know what’s in the image if the image is not shown. The purpose of Alt text is to serve people with low vision or blindness.
While in some cases, users might turn to images to load web pages faster.
Backlinks are the links to your website from other websites, also known as inbound links.
These links are created for the purpose of driving traffic from high-authority websites with massive traffic.
Quality and relevant backlinks play a major role in ranking on top of Google as it signals the popularity of your website.
The term blog is somewhat known to everyone these days because most of them own it.
However, to make it clear, a blog is a short form of a weblog, a journal where writers share their knowledge, thoughts, and experience.
The blog is a great way to generate organic traffic, provided that it is optimized with keywords.
For instance, Search Engine Journal publishes blogs on various fields of digital marketing, such as SEO, content marketing, social media, and many more.
The purpose is to share knowledge with the readers and generate traffic to the website.
A company that has launched a new SaaS product will inform readers about what its product does and how it could benefit them.
Bounce rate is the percentage of visitors to your website who, without taking action, such as buying a product/service, clicking on the link, or navigating to other pages, leave your site.
It is also one of Google’s ranking factors. The study has revealed that bounce rate was directly associated with Google’s first-page ranking.
A high bounce rate means you need to tweak your website to enhance user experience.
SEO or Search Engine Optimization is the process of improving a website’s visibility against keywords (Search queries) and, as a result, driving more traffic to it.
To gain more visibility, you need to consider improving the following elements:
According to BrightEdge, 68% of online experiences start with a search engine.
While 53.3% of website traffic comes from organic search.
Two major types of SEO include:
1. On-Page SEO
2. Off-Page SEO
On-page SEO involves many components, such as Meta Tags, keyword optimization, alt tags, keywords, geotargeting, site speed, responsive design, and URL structure.
While off-page SEO involves backlinks, social signals, branded searches, E-A-T, and reputation signals.
The keyword is a word visitors, or customers search on search engines to get the desired answer or results. Typically, keywords are optimized in the blogs and web copies so that search engines can filter the results against the keyword when typed in by visitors.
For instance, if you wish to buy Christmas gifts for kids, your query will be to buy Christmas gifts for kids.
Google or any other search engine will show websites targeting the keyword in their blogs or web copy, but not all of them will show on top.
The reasons are plenty, and a few of them are content optimization, website structure, on-page and off-page SEO, and keyword competition.
Keyword density is the frequency of keywords used on a single page.
For instance, if your keyword is best Android Apps 2023 and the number of words written is 1500 while the keyword is used 5 times.
Keyword Density = Number of Times Keyword Used/ Total Number of Words X 100
In this case keyword density will be = 5/1500*100 = 0.3%
Using the same keywords multiple times is a great way to gain search rankings.
However, overstuffing of keywords should be avoided. Otherwise, it may be considered as spam by Google.
Back in 2011, keyword stuffing was used as a means to gain a top position on Google. Webmasters used to overstuff websites with keywords and gained instant results.
But with the passage of time and Google’s update, it was considered spam and not more than 2% is allowed.
Unlike Search Engine Optimization, which drives traffic organically without paying, SEM involves business marketing through paid advertisement.
The advertisements are served on different websites and online platforms according to a location in the form of text, image, or video.
It is a great opportunity for marketers to show products or services to target audiences ready to buy products/services without looking for further information.
The search Engine Result Page, as the name suggests, is the page displayed by the search engine against a user’s query.
SERP not only includes organic search results but also comprises PPC ads. Normally paid ads are displayed on top of organic search results.
While the advertisers who have paid higher costs to display ads are shown relatively on top of other paid ads. Over time, the SERP is becoming highly complex due to the launch of schema markup.
For instance, if you look for the best restaurants near your area, you will find search results displaying important information on SERPs such as contact details, websites, and other relevant information.
Sitemap XML is another term used normally by webmasters, and you should also know if you are going to launch your website.
Sitemap XML is a list of pages on your website that are written in markup language that search engines should index.
Besides site URLs, it also provides information about modification dates to tell search engines whether the page has been crawled.
The title tag is an HTML element that points to the page's title. However, the heading displayed on a web page should not be mixed up.
It is normally shown when you open a website and hover the mouse on the tab in your browser.
The title tag is an important element of on-page SEO and allows search engines to know what the web page is all about.
But to help search engines, optimizing it with target keywords is important.
Digital marketing is not something limited to SEO, organic searches, or paid ads. Social media marketing is also one of the important elements of digital marketing.
It allows big and small brands to showcase their products and services on a given platform. Not every social media platform is suitable for every niche.
For instance, if you own a fashion brand, you might invest time and money on Instagram rather than Twitter. On the contrary, if you run a real estate agency, the best platform is Pinterest.
Just like SEO and SEM, you can either promote your products/services of your brand organically or run ads to gain more visibility in less time.
Redirect is pointing the visitor to a different page instead of the requested one. It normally works when the page has been removed, or the post is deleted.
Redirecting visitors to a new page allows webmasters to prevent 404 errors, which is another ranking factor. For instance, if you wrote a post on What Works in SEO in 2011, it might not be relevant in 2022.
With Google updates from time to time, SEO that worked back in 2011 is a waste. You can’t do anything, rather, delete it. But after deleting the post, you need to redirect it to a new URL with fresh content on SEO in 2023.
Referral points to traffic generated from other websites to your website. It can help you understand how people found your website without using a search engine.
For instance, if you have published an article on a high-authority website related to your niche. Or if you share your website posts on different social media platforms;
The traffic generated from these sites will be known as referral traffic.
Robots.txt is a file uploaded on a web server with instructions to search engine crawlers. The file allows search engines to understand which web pages should be indexed and which ones to be ignored.
For instance, the thank you page shown after a visitor fills out the form can be hidden from search engines.
Anchor text is a clickable link that points to another page. It is also an important part of on-page SEO and one of the ranking factors.
For instance, if you are writing an article on what SEO is and in the middle of the post, you also mention the term content marketing.
Now, if the reader is new to the term, you might hyperlink the term content marketing or make it more enticing by saying learn more about content marketing by clicking here.
Usually, hyperlinks are highlighted in blue, but they can also vary from website to website.
H1 is an HTML tag that represents the primary heading of a webpage. In SEO, it is important to use heading tags to help search engines understand what the page is about.
An H1 tag on any webpage means that search engines will give importance to it and index the content easily.
To simplify, H1 Tag is the main heading of your document defining the overall topic.
The term churn refers to the percentage of customers who end up buying a subscription or stop using the service.
It is important to monitor the churn rate to rapidly avoid losses and losing customers before it's time to pack your business.
The churn rate is calculated with the following formula.
Churn Rate = Customers lost in period/customers at the beginning of period *100
Really Simple Syndication (RSS) is a web feed of a particular website that allows users to keep themselves updated about news and information important to them.
Aggregators collect multiple RSS feeds and combine them so that people can track different websites simultaneously.
It also allows websites to syndicate content from third parties.
Pay Per Click is the cost companies pay for each click with which users interact. The more clicks generated, the more the cost will be.
Companies usually prefer to choose pay-per-click because all they have to pay is the cost of clicks and not for showing website ads.
The formula for Pay Per Click = Campaign Fee/number of clicks.
For instance, if you pay $500 for a campaign with 20000 clicks, the CPC will be $0.025.
Impressions are the number of times your content was shown to the people, regardless of whether they clicked it or not.
A Heat Map is a visual representation of users’ behavior on your web pages, such as clicks, scrolls, and what they look at.
Design plays an important role in providing a seamless user experience.
With a heat map, you can find what parts of the webpage are getting more clicks and which are ignored.
It is quite helpful in placing your call-to-action buttons and other important elements, such as ads, contact forms, and product pages to get the most out of it.
Creating a responsive website is important for webmasters to cater according to the device preference of the users.
Responsive design (a term used by website designers and experts) allows the website to adjust automatically to the screen size when viewing across devices such as laptops, tablets, or smartphones.
As most internet users access websites using their smartphones, it is important to create a responsive website, especially if you are running an eCommerce store.
An HTML tag that facilitates search engines to display specific language and content when a website is using multiple languages.
For instance, if a person is accessing the website in the United Kingdom, the content will be displayed in English using Hreflang Tag. The same content is displayed in Spanish if the website is accessed in Spain.
The HTML tag plays an important role in avoiding duplicate content penalties.
While for search engines, it helps in displaying customized content to a specific audience of a country. If you provide services for people living in European countries and the United States, using Hreflang Tag will display language accordingly.
A featured snippet is a concise information provided by Google drawn from a website and placed in search results.
If any of the web pages are ranked on the featured snippets, it will help improve the click-through rate, boost credibility, and help you capitalize on voice technology.
According to Search Engine Land, 8% of clicks are generated from a featured snippet.
Types of featured snippets include paragraphs, tables, lists, and videos.
Google search console is a free tool for webmasters offered by Google.
The tool allows webmasters to track the overall performance of their website, including impressions, clicks, and keyword position.
It also helps webmasters to know more about their websites, such as which pages are indexed and how many pages are affected by errors.
To set up a Google search console, you need to add a unique tracking code in the head of your website.
One of the important terms to know in marketing is inbound marketing, which involves attracting customers by developing valuable content that adheres to their problems/needs.
Some examples include content marketing, search engine optimization, and social media marketing. For instance, if you have published a guest blog on a high-authority website.
The backlink that drives traffic to your website will be considered inbound marketing. Its purpose is to attract prospects and motivate them to interact with the band and as a result, convert them into paid customers.
A landing page is a single page created by marketers to allow potential customers to land on a specific page after clicking a link, email, or advertisement.
The purpose of creating a landing page is to collect the contact information of visitors in return for something such as an eBook, link to the webinar, or access to premium tools etc.
A landing page, however, is not included in the navigation of a website. It only facilitates the target audience looking forward to information or details about the product/service.
While searching for terms to know in marketing, you will come across various blogs and articles centered around various aspects of marketing.
It might include basic marketing terms, digital marketing terms, and email marketing terms.
However, if you want something centered around content marketing, make sure to read the section carefully. This section will discuss content marketing terms to know in 2023-2024.
Let’s dive straight in.
Above the Fold is one of the key terms to know in content marketing. Users first interact with the part of the website when accessing it.
And if the section is unattractive or dull, the user might leave the website instantly without exploring further.
To make the section more attractive, it is important to design the website by picking attractive color schemes, adding sections, and making it user-friendly.
One of the examples of the Above the Fold section can be seen on Jeff Bullas website, which welcomes an attractive offer to get tips on increasing traffic.
Similarly, a content marketing institute ‘above the fold’ includes products and services they want to promote, such as consulting services and events.
Personalized content is tailored for the audience living in a specific region, buying behavior of consumers, or interest. The purpose of personalized content is to serve specific audiences looking forward to some solution based on their pain points.
According to statistics, 91% of shoppers are more likely to buy from companies that offer personalized recommendations. While 74% of online consumers feel frustrated when content is not served according to their interests.
For instance, most of the internet service providers in the United States offer coverage in specific regions and states.
If someone is looking for internet service in New York, all the service providers offering coverage in the area should offer personalized content.
Without analyzing data, your marketing campaigns are clueless. When it comes to content marketing, data like click-through rates, conversion rate, and bounce time are a few of the key metrics to look for.
For instance, if you have written a blog post and need to know how well it performs, you need to check data through various tools such as Google Analytics.
If the content is well written, the bounce rate will be minimal, the click-through rate will skyrocket, and unique visits will increase daily.
Buying cycle is one of the key marketing terms that every digital marketer, content marketer, or traditional marketer should be aware of.
When it comes to content marketing, you need to educate your target audience with the answers they are looking for.
No one would ever buy a product without being aware of its features, benefits, and price.
Buying Cycle is all about the consumer journey from awareness to consideration and purchase intent to purchasing and repurchasing.
Content Management System or CMS is software that helps you to create, manage, and alter content without having coding knowledge or background. In the past, websites were developed using a programming language called HTML.
But with the advent of CMS, most webmasters, bloggers, and marketers rely heavily on CMS for ease. Some of the most popular CMS software include Drupal, Blogger, WordPress, Joomla, Umbraco, Magento, OpenCMS, Nuxeo, and many more.
The benefit of using CMS is that it allows users to create websites within minutes that can be customized according to one’s requirements. According to statistics, WordPress is a renowned content management system with a market share of 65.1%.
The content marketing funnel creates awareness among visitors, nurtures them, and converts them. Simply put, it is the journey of consumers from awareness to being a customer.
On top of the funnel, you grab the attention of potential customers.
In the middle of the funnel, you educate and inform them about your product/service to help them make decisions. While the bottom of the funnel focuses on lead conversion through customized content.
Content strategy is the process of planning, creating, and distributing content to achieve business goals and objectives.
Here’s how to develop an effective content strategy
· Defining your long-term business goals
· Researching your target audience
· Focusing on niche
· Measuring results
· Improving content after customer feedback
· Distributing content on various channels
If you are a content creator, copywriting is one of the most common marketing terms to be aware of.
Copywriting is the process of creating content and selling products/services through words. It is different from writing a blog or article.
Instead, it is more about evoking readers' emotions, driving intent, and creating the urge to buy a product or service or taking specific action such as sharing contact info.
Some of the most common copywriting types include:
· Brand Copywriting
· Social media copywriting
· SEO copywriting
· Insight Copywriting
· Email Copywriting
The major difference between a copywriter and a content writer is that a copywriter sells products/services to the target audience.
While the content writer engages, informs, and entertains readers to know more about the product or service.
One of the marketing terms you should know is call to action.
It refers to the desire of the target audience to take specific actions such as buying a product, paying for a subscription, signing up for the webinar, or subscribing to the newsletter.
A call to action is inserted within a webpage, video, social media post, or infographic.
No matter how good your content strategy is and how well you create content, if you fail to distribute it on various channels, you might not be able to achieve your business goals.
Content distribution is the process of promoting content on various online platforms in multiple formats. It could be anything from blogs to emails and social media posts to infographics.
The distribution channels can be categorized into groups such as owned, earned, and paid. Owned content distribution involves distributing content that you own, such as a microsite, blog, social media, or email newsletter.
Earned content distribution involves promoting your content through third parties, such as guest post contributions, press releases, product reviews by bloggers, or social media engagement.
Paid content distribution is the act of promoting your content through paid advertisement on social media or Google.
So far, we have listed top marketing terms used in everyday life of digital and content marketers.
Let’s briefly overview product marketing terms you should know in 2023.
One of the product marketing key terms includes advertising campaigns which digital marketers and traditional marketers use.
Advertising campaigns are a series of advertisements that are distributed across various channels, including TV, print, radio, podcast, Google Ads, social media, and many more.
The ad campaign aims to inform target customers about the brand and increase sales.
Ad campaigns have changed over the years from print ads to TV commercials, and Google ads to social media ads.
When discussing most common marketing terms, product line extension is worth mentioning. Product line extension is expanding an existing product line within the same category.
The horizontal extension involves changing the colors and adding twists to it to make it different and attract consumers. While vertical extension involves increasing or decreasing the price and quality of a product.
For instance, Pepsi introduced a twist to its existing product line by adding lemon to it.
However, the product was not successful at all and was removed from the shelves few months later.
One of the terms used in marketing is a seasonal discount. A seasonal discount is the reduced price brands offer on products in the off-season.
Normally the discounts are seen majorly in fashion stores selling men's and women's apparel.
Minimum Viable Product is also one of the marketing terms to know especially if you are a startup and going to launch a new product/service.
MVP is the launch of a product with limited features and functionalities to test whether people are interested in buying or not.
Moreover, Minimum Viable Product is also launched to take feedback from the early adopters and find what needs to be improved.
The goal of launching MVP is to test the new idea without wasting all the money and resources.
If you are a digital marketer, content marketer, or social media marketer, knowing these marketing key terms will help you in the long run.
As the field of marketing is ever-evolving, knowing all these marketing terms is challenging for new marketers.
However, in this post, we have tried our best to list down important terms to know in marketing in 2023 and beyond.