As SaaS marketers, we often come across marketing terms that we haven’t yet heard of. While some of these might just be made-up abbreviations, the rest of these terminologies might be essential for you to learn.
Are you new to the digital marketing or tech universe? Have you often found yourself searching for a completely new marketing term or abbreviation used by your favorite blogger over and over again?
Sometimes your search engine might not provide the actual meaning of these terms. Whether you’re a traditional marketer turned digital or a business owner that’s getting to know the latest terminologies, having knowledge of these terms will help you get ahead in the marketing world.
In an effort to help you learn the newest terms out there, we’ve created this short and snappy DIGI-CTIONARY (don’t worry, that is not another marketing term).
15 Marketing Terms that Business Owners Should Know
- APIs transfer information
- Conversational commerce benefits communication
- Audience segmentation targets groups
- Messenger bot mimics human contact
- A/B testing analyzes performance
- CASL focuses on electronic messaging
- Conversion qualified leads (CQL) imply interest
- Content management system (CMS) eases updates
- Key performance indicator (KPI) tests employees
- Top of the funnel (TOFU) sets the stage
- UX benefits the user
- A buyer persona represents the consumer
- No-follow links block search authority
- Cost per lead (CPL) shows payment interest
1. APIs Transfer Information
Application programming interfaces, or simply, APIs, involve a computer programming series of rules that allow one application to grab information from a service to use this information in its own application or to use in data analytics. It acts similar to a phone call, communicating with an application receiving information for users to use with their software.
2. Conversational Commerce Benefits Communication
This newer marketing term refers to the cross-functioning between e-commerce and conversational marketing, through messaging application.
The most popular example of conversational commerce is in fact, Messenger. Through Messenger, customers can talk to companies and get their product-related issues resolved along with a personalized experience which can lead to purchasing more from these businesses.
3. Audience Segmentation Targets Groups
Audience segmentation is a marketing hack that allows you to identify certain audiences. The segmentation is based on various characteristics, issues, queries and any other similarities that exist among them that help you tailor your response, content and bug fixes.
The goal is always personalization.
4. Messenger Bot Mimics Human Contact
A messenger bot is a software made of artificial intelligence that imitates human conversation.
As seen in the example below, marketers and SaaS-ters use it for multiple cases such as customer support, inbound marketing efforts, sales, and lead generation.
The messenger bot on Pinterest responds with a creative sequence of messages when a user interacts with the system.
5. A/B Testing Analyzes Performance
A/B testing compares two different variations of a single variable to conclude which performs better - like a comparative analysis. This single variable can be call-to-actions, design, messaging, and more.
A/B testing is generally associated with email marketing; however, you can test all of the assets such as website copy, messenger bot flow and landing pages.
6. CASL Focuses on Electronic Messaging
Canadian Anti-Spam Legislation (CASL) is a law that was passed in Canada in 2013 that covers the outgoing of “commercial electronic messages.”
It covers texts, emails, automated cell phone messages and instant messages sent to phones and computers in Canada.
7. Conversation Qualified Lead (CQL) Implies Interest
CQL stands for conversational qualified lead. This newly introduced term is allotted to prospects who have shown some interest in your service or product while conversing with your chatbot.
Moreover, you can gather information about CQLs through records in the form of a text conversation, behavioral attributes, buttons clicked and the pattern in conversation flow.
8. Content Management System (CMS) Eases Updates
Designed for the average user, this web application makes it easy for novices to make, edit and manage their websites. A content management system (CMS) can help users to edit content, of course, and on top of that, take care of many other behind-the-scenes tasks.
For example, users can create searchable content with indexes, keep track of permissions and users and generate navigation elements automatically.
9. Key Performance Indicator (KPI) Tests Employees
Key performance indicators, or, KPIs help measure performances of a company’s employee or its activities. Digital marketers use KPIs to keep track of the progress of a set marketing goal.
Successful marketers keep on evaluating each and every goal, activity and campaign to compare their performance against the metrics set on industry-standards. Customer acquisition cost (CAC), homepage views, and blog traffic sources are a few examples of KPIs.
10. Top Of The Funnel (TOFU) Sets the Stage
Also called TOFU, it refers to the most initial stage of a buying process. At this stage, your leads are just identifying issues they are facing and looking for further information on it.
At this stage, a successful inbound marketer will provide helpful content that these leads can use to identify the problems they have and the next few steps to overcome them.
11. UX Benefits the User
UX is the abbreviation for user experience. It includes the overall customer experience with any business from discovering the brand to getting to know them, interacting with them, purchasing from this business, using its product/service and further recommending it.
To deliver a top-notch customer experience, your business must work towards improving a customer’s life and making their output better. This all begins with a user-friendly UX.
This happens through augmenting default controls of a browser.
The language can be used for password security creation, pop-ups, slide-in call to action, check forms, special effects and interactive games. It can also be used to develop mobile apps and server-based applications.
13. Buyer Persona Represents the Consumer
A buyer persona is defined as an almost fictional representation of the ideal customer which is based on your market research and on actual data of your existing customers.
Buyer personas not only help marketers define their target audience but also make it easier for sales representatives to qualify leads.
14. No-Follow Links Block Search Authority
No-follow links are when an external link is added to a website but it does not pass search engine authority to a particular webpage.
A no-follow link helps search engine crawlers to avoid passing credit to the webpage linked.
Using an SEO tool like the one above from Neil Patel, you can check the number of follow and no-follow backlinks for any specific URL.
This way, your website is not associated with the linked webpage in case it goes against webmaster guidelines or promotes/publishes spammy content.
A no-follow link will be recognized by all major search engines like Google, Bing, and Yahoo.
15. Cost Per Lead (CPL) Shows Payment Interest
Cost Per Lead (CPL) refers to the set amount you have to pay for opt-in from customers who are interested in your ad/business.
CPL is a key metric that determines whether or not a lead generation campaign of yours is performing well.
Learn New Marketing Tricks and Stay Ahead of the Crowd
Now that you’ve read through some of the more popular terms in the industry, think about what would work best for your business. What is your goal in the long run? That will fuel the conversation and discussion.
Research more about each of these tools and concepts to get an idea of what to tackle next. Since the world of tech is growing, more terminologies are being introduced.