Demystifying marketing jargon part 2: marketing plan KPIs

Published June 5, 2020 5:07 pm by admin
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As marketers, we throw around a lot of terms for processes, tactics, performance metrics and even creative. And to add to all those terms, different marketers sometimes use different words for the same exact thing.

That’s why we’re helping build your library of marketing jargon one blog post at a time. First, we looked at the top marketing acronyms to know and now, we’re diving into the 10 essential terms we use when talking about marketing plans.

 

Audit

When redesigning a website, refreshing marketing tactics or onboarding onto a new client, we’ll perform an audit to see what’s working and what can be improved. We’ll look at goals, objectives, strategies, current marketing or brand activities and even competitors to make recommendations on how, what, where and why to optimize.

 

Above the fold

To get noticed, you want your message to be front and center, and that means “above the fold” when it comes to websites. The term refers to the prime space of real estate on a web page that appears on the screen before a user needs to scroll down—usually around 600 pixels.

 

A/B Testing

A/B testing helps us understand what performs best for our audience by comparing two variations of creative. These variations could be slight color shifts, button styles, different messaging or even subject lines. But they could also be what time of day an email sends or how an audience is grouped. The goal is to track the winner of each test and then conduct a new test against it to optimize your campaigns.

 

Conversion Rate

Conversion rate is the rate at which users complete a conversion step to become a potential lead. We often use it for determining the success of a marketing method. For example, conversions can include downloading gated content like an whitepaper or ebook, contacting their local dealership, scheduling a consultation or making a purchase.

 

Discovery

We’re a curious bunch here at LoSasso. That’s why the first phase of our marketing relationship with a new client is all about getting to know one another—we call it discovery. During this time, we’ll conduct initial research to get a better understanding of the product or services, market(s), customers and competitors. And if you’re thinking this is a good time for an audit, you’re already thinking like a marketer!

 

Drip campaign

A drip campaign is a series of automated emails designed to guide users. They are scheduled at regular intervals during a key point in the journey to convert leads, onboard new customers, provide details leading up to a trade show and so on. Unlike nurture streams (down the page), drip campaigns are more about encouraging an action versus nurturing a behavior.

 

Lead Generation

Lead Generation (or lead gen for short) is usually one of our main objectives for campaigns. In a nutshell, it’s the process of helping to build further interest in a product or service among potential customers—ultimately, turning those leads into customers. We do this with digital paid campaigns, gated content, nurture streams and so on.

 

Marketing funnel

If you’ve worked in marketing, you’ve most likely heard colleagues refer to the top, middle or bottom of the funnel. That funnel is a marketing funnel and it symbolizes a prospects journey from not knowing your brand to loving it. The top is wider because you’re casting a larger net to reel potential buyers in. The middle starts to narrow as you coax them down the funnel. And the bottom is where you seal the purchase deal.

 

Nurture stream

Like a drip campaign, a nurture stream is a series of emails that “nurture” leads throughout the buyer’s journey. However, these emails tend to be more targeted based on behaviors at each stage and will include more educational or brand content to build trust and confidence—and a relationship with the brand. We use this method for high-consideration products or services that require more research or comparisons.

 

SiMPL Brief

The brief is a bible for your agency. It should set up the need for the project, what should be communicated and how it will be measured. The goal is to inspire your creative team while providing some background or guardrails for everyone to succeed. At LoSasso, we make this as simple as possible—seriously, we call it a SiMPL brief. Learn how to use our 5 SiMPL steps to brief your creative team.

 

Want to learn more marketing jargon? Check out our guide to abbreviated marketing terms or the ABCs of KPIs!