Wrapping your mind around the concept of marketing can definitely prove difficult. After all, marketing is something that takes professionals years to master and, with constant market shifts and policy updates, it’s easy to get lost in a sea of outdated information. However, when you take the time to dive into marketing, you’ll see that the foundation really isn’t that difficult to understand at all. The key is figuring out what all the buzzwords and lingo means, and then educating yourself on the latest best practices associated with such. So, in this article, we’re going to review some key marketing terminology that will help you overcome the hangups that many business owners face when they begin diving into the topic of marketing.
This is something you should be hearing (and talking) about quite a lot. SEO stands for “Search Engine Optimization” and it’s an umbrella term encompassing many tactics. Namely, when you go about doing SEO for your website, or a specific page/post on your website, you are going to get involved in keyword research and look at things like keyword placement and keyword density, or how many times a keyword is used within the content.
SEO is definitely a tricky thing to master because the algorithms are always changing. Google is the main search engine giant to look to when modeling your SEO strategy, and they regularly make updates that can throw business owners for a loop.
For this reason, SEO is often best handled by a professional team who devotes 100% of their time to stay on top of the latest updates and best practices. However, nothing is stopping every business out there from getting a little more hands-on when it comes to implementing keywords in their content.
Long-tail and local keywords are among the easiest to rank for, and that makes them an excellent place to start.
SEM (Paid Advertising)
While SEO is all about organically ranking your content in Search Engine Results Pages (SERPs), Search Engine Marketing uses paid advertising to get you on the front page of Google and other search engines in an instant. All you have to do is bid the right amount for a given keyword. Although SEM isn’t going to necessarily boost your long-term SEO efforts, it can give you a short-term and immediate source of traffic. The cost of SEM depends on various factors, from the keywords you are attempting to rank for to the location where you are targeting. Most businesses, however, can get started with $10 to $25 a day. The key with SEM is crafting a few sentences that are really going to grab the attention of your target audience so that they click through because you are going to pay whether they click or not. You’ll have to outbid your competitors in order to claim an ad spot (usually only 1-4 sponsored results to show on a SERP).
Social Media Marketing
It’s no secret that social media has taken over. Billions of active users flock to Facebook every month to connect with friends, chat in Facebook Groups, and find local businesses to visit and review. Twitter and Instagram are also very popular social media networks that your target audience may be present on. That’s why social media marketing can prove to be extremely effective. No doubt that you have witnessed a few ads go viral yourself on social media, and while you probably won’t aim to go “viral”, your business can get some incredible results with the right targeting methods. Facebook’s Ad Manager is by far the most extensive platform when it comes to social media marketing, so it’s suggested that you start there. Be sure to target your ads based on a lookalike audience of your real customers in order to get good results.
Ever heard of HubSpot? This suite of tools charges a staggering $3,000 just to onboard your business to the platform, in addition to monthly fees that range from $50 to $2,400 depending on your organization’s size and countless other factors. However, inbound marketing can be done without the help of this expensive tool. Inbound marketing is all about drawing customers to your business with the use of search engine optimization, social media marketing, content marketing, branding, and countless other methods. This is opposed to outbound marketing where you use more traditional tactics, such as public relations, promotions, and cold calling.
CRO and Analytics
CRO stands for “Conversion Rate Optimization” and it’s a metric that’s very important to track. Conversion rate is the percent of people who visit a website/page and then convert into a lead by signing up for your newsletter, scheduling an appointment, or giving your office a call. Ultimately, conversions are what every business is after because it means that an anonymous visitor has expressed interest and given information that now allows the business to identify them and follow-up with/sell to them.
Other analytics to track include:
- CTR: Click-through rate
- CPC: Cost per click
- CPA: Cost per action
- CAC: Customer Acquisition Cost
- LTV: Customer Lifetime Value
- ROI: Return on investment
Digital marketing is another umbrella term that encompasses all marketing delivered through digital channels. This means that everything discussed above fits under the term digital marketing, whether you’re using search engine optimization or advertising on social media. Digital marketing campaigns are becoming more and more common and it’s actually coming to the point where traditional advertising means (i.e., TV/radio, billboards, etc.) are being phased out. This is mainly due to cost, targeting difficulties, and the inability to track the ROI of these methods. Since your business’ digital marketing efforts can be carefully targeted thanks to modern tech and changed on a whim, digital marketing tends to be much more budget friendly and substantially more effective than older marketing methods.
Chances are, your business is going to be doing a lot of digital marketing in the near future. To learn more about the best practices in digital marketing, reach out to Link360.
Link360 is a Digital Marketing Agency in South Carolina. We help business owners who want to grow, but are frustrated that their website isn’t generating the visitors and leads that they think it should. We use a variety of digital tactics to help your business grow – including website design, blogging, social media, optimization, lead nurturing, reporting, and more. What’s most important is that we use these tactics in a systematic, unified, and measurable way so they ultimately drive more visitors and clients and help you hit your growth targets.