Marketing, Sales and Tech Glossary

45 Buzzwords and Acronyms used in the Marketing, Sales and Tech Industries

 

 

 

Marketing  -  Sales  -  Tech


 

 

 

 

Marketing Terms:

 

A

 

1. Awareness

How well your target audience recognize your brand. High brand awareness is often categorized as “trending” or “buzzworthy".

 

 

B

 

2. Bounce Rate

Your website's bounce rate is the percentage of people who land on a page on your website, then leave.

A user clicks a link on a social post of yours. They visit your web page, click nothing else on it and then leave.

 

3. Buyer Personas

A representation of your ideal customer based on market research and real data about your existing customers. Personas often include detailed descriptions of demographics, psychographics, motivations, and goals.

Identify your customer as needing (x), coming from (y) background and (z) level of income. 

 

 

C

 

4. Call to Action (CTA)

A button, image, or other type non-plain text object that is linked, encouraging the website visitor to perform a desired action on the website. This desired action often involves the visitor submitting some kind of information to receive a something in return.

Enticing a reader of your blog to click "download Ebook now" to exchange the knowledge in the content for personal information (name, number, etc)

 

5. Click-through Rate (CTR)

The percentage rate of your audience that advances through steps in the marketing campaign.

 

6. Content Management System (CMS)

CMS is a software or set of programs that are used to create and manage digital content.

With CMS, you are able to schedule the publishing of content (emails, blogs, social, etc).

 

7. Content Strategy

Content strategy is the management of tangible media that you create and own: written, visual, and downloadable. Content strategy is meant to educate people on the topic they search as well as your brand.

 

8. Conversion Rate Optimization (CRO)

The systematic process of increasing the percentage of website visitors who take a desired action such as downloading an ebook. This is done by understanding how users navigate the website by performing tests.

 

9. Cost Per Action

An internet advertising model where the advertiser pays for each specified action someone takes,such as buying, clicking or submitting information. CPA is often used to gauge marketing spending.

 

10. Cost Per Click

Cost Per Click is used to determine the profitability of a marketing effort by measuring the amount of money spent to get online advertisements to be clicked.

 

11.  Cost Per Lead

The amount your marketing organization must spend to secure a lead.

 

12. Customer Segmentation

Customer segmentation is the process of dividing customers into subgroups based on common characteristics [personas] so companies can market to each group effectively and appropriately.

 

 

E

 

13. Engagement

The measurable act of a viewer interacting with what the marketer wants them to.

Example: clicking "Contact Us" or liking a social media post.

 

 

I

 

14. Impressions

Number of times content is displayed no matter if it were clicked or not. Simply the number of times eyes were on it.

 

15. Inbound Marketing

Inbound marketing is the process of attracting customers to company web pages by combining branding, social media, content marketing and search engine optimization to create contacts.

 

 

K

 

16. Key Performance Indicator (KPI)

 

A list of measurements that a company sees as key aspects of their performance. These can strategically measure marketing, financial, operations, or other sector achievements and help to set future goals.

 

 

L

 

17. Life cycle

The process of providing timely information to prospects throughout their transition from contact to customer.

Someone who is searching for solutions to their problem will want different information than someone who has already identified their problem and are looking for solutions and pricing.

 

 

M

 

18. Marketing Qualified Lead (MQL)

A Marketing Qualified Lead (MQL) is a lead who has indicated interest in what a brand has to offer based on them intentionally engaging with the brand.

Website visitor submits some form of their information, (adding an item to their cart or being a frequent website visitor, completes form) and becomes an MQL.

 

19. Marketing Strategy vs Marketing Plan

A marketing plan acts as more of a map, giving direction with plans of action. Conversely, a marketing strategy is a goal setting method that coordinates marketing efforts on a higher level.

 

 

O

 

20. Outbound Marketing

Outbound is the process of actively seeking out sales opportunities though mostly sales calls. From this, the sales process is followed once contacts are moved closer towards customers.

 

 

R

 

21. Reach

Total number of unique viewers that see the content.

 

22. Relationship Marketing

Relationship marketing is designed to increase interaction and engagement from customers with the brand. This in turn, increases customer loyalty and retention rates.

A combination of lead generation tools, customer service and multi-channel communication to create a customer experience that feels personalized. 

 

W

 

23. Word of Mouth

The passing of information from person to person. Online communication is also a major contributor to this and is seen as very powerful marketing because of the wide use of customer reviews.

 

24. Workflow

Business activity that takes place due to the organization and transfer of information, materials and services.

When someone responds to a form online, a workflow recognizes this and send them an email two days later to follow up.

 

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CRM Ebook Call to Action Button

 

 

Sales Terms

 

A

 

25. Advancement Criteria

A list of requirements for each stage of the buyers journey to advance to the next.

This helps define where prospects are in the journey so companies are able to project revenue and make strategic decisions. 

 

 

B

 

26. Business to Business Sales (B2B)

Companies that sell their products/services to other businesses. 

Examples: Hub Spot, Slack, Microsoft

 

27. Business to Consumer Sales (B2C)

Companies that sell their products/services to individuals.

Examples: Nike, Starbucks

 

 

C

 

28. Churn

The amount or percentage of people that leave a product or service within a time period. Often known to apply to subscription based services.

 

29. Closing a Sale

The act of turning a prospect into a customer. The salesperson reaches an agreement with whom they are selling to and receive a monetary commitment.

 

 

I

 

30. Inside Sales

Use of salespeople to acquire business via the internet, phone or email.

 

 

L

 

31. Lead Nurturing

Lead Nurturing is the process of fostering relationships with prospects through the sales process and buyer's journey. Nurturing emphasizes the importance of listening to the needs of the prospect and catering to them.

 

 

M

 

32. Monthly Reoccurring Revenue (MRR)

Monthly Recurring Revenue, measures the total amount of predictable revenue that a company expects on a monthly basis. Especially important metric when using a subscription business model.

 

 

O

 

33. Outside Sales

Use of salespeople to acquire business by going out into field to meet with prospects or customers.

 

 

P

 

34. Point of Contact (POC)

The decision maker for the organization that a sales representative ideally targets.

This is a best practice for sales people because they could end up wasting their time pitching to someone that has no say in what happens with the budget.

 

 

R

 

35. Return on Investment (ROI)

The long-term financial benefit from making an upfront capital investment.

Important in selling process when trying to convey the value/benefits of what you are selling (cost justification). 

 

S

 

36. Sales Automation

Software created to complete the responsibilities of a sales rep or manager would perform.

 

37. Sales Cycle

All activities that a salesperson performs to close a sale. Includes: prospecting, making contact, qualifying the lead, nurturing the lead, making an offer, handling objections and lastly, closing the sale.

 

38. Sales Pipeline

A sales pipeline is the strategic way of organizing and tracking the progression of deals a sales team is working on. The sales pipeline is a path that encompasses all steps from initial contact to closing the sale and is often predetermined.

 

39. Sales Qualified Lead (SQL)

Not to be confused with the coding language, an SQL in this context is a prospective customer that has been researched by an organization's marketing team then by its sales team. After assessing, it is deemed as ready for the next step in the sales process.

 

40. Sales Stage

The status at which a customer is engaged with the company. The further involved they are, likely, the closer they are to sale.

 

 

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CRM Ebook Call to Action Button

 

 

Tech Terms

 

A

 

41. A/B Testing

The process of testing two different forms of a web page to see which one performs better. Relates closely with conversion rate optimization.

There is no one-size-fits-all approach to online marketing and data is the answer. Often times A/B tests are used on CTAs or forms to see which people are more likely to intact with. 

 

42. Application Programming Interface (API)

When using software and performing a task, data is sent to a server that receives it and interprets it. The server does whatever was requested of it and then sends it back where the software interprets it into a readable form for you, fulfilling the task.

The idea is to have your website’s server 'talk' directly to Google’s server with a request to create an event with the given details. Your server would then receive Google’s response, process it, and send back relevant information to the browser, such as a confirmation message to the user.

 

 

C

 

43. Customer Relationship Management [Software] (CRM)

A CRM, by its very name, is a system to manage and analyze customer interactions and gather information about customers across a variety of sources inside and outside your company. This software indexes contacts information and the interactions with them to provide efficiency between sales and marketing departments.

 

 

M

 

44. Marketing Automation

Marketing automation is software that automates marketing activities such as social media, email and even ad campaigns. Provides efficiency and higher levels of personalization.

 

45. Search Engine Optimization (SEO)

Techniques that help your website rank higher in organic search results on search engines.

This means that even if people are not searching some direct keyword on a website, if it has proper SEO, it will still rank high on a search engine because it is seen as relevant.

 

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