Dictionary Terms – TrackMaven
All A B C D E F G H I J K L M N O P Q R S T U V W X Y Z #

Benchmarking

Benchmarking is the process of measuring a business’s performance against competitors and industry standards. Companies benchmark to analyze their success and get a better understanding of how they are performing relative to their competition.

Brand Awareness

Brand awareness measures a potential customer’s ability to recognize a brand and associate it with a certain product or service.

Brand Equity

Brand equity is the additional value a product receives from having a well known brand. It is the difference in price that a consumer pays when they purchase a recognized brand's product over a lesser known, generic version of the same product.

Brand Loyalty

Brand loyalty is the tendency of consumers to continuously purchase one brand's products over another. Consumer behavior patterns demonstrate that consumers will continue to buy products from a company that has fostered a trusting relationship.

Buyer Persona

A buyer persona is a research-based representation of the ideal buyer for a company. They are created in the form of a fictional person and embody the behavioral characteristics befitting of somebody who would purchase your product or service.

Competitive Analysis

Competitive analysis is the process of using competitive intelligence to analyze the strengths and weaknesses of a company's marketplace competitors.

Content Marketing

Content marketing is a form of owned marketing that involves emails, blog posts, white papers, ebooks, webinars, case studies, infographics, social media, and more.

Conversion Rate

Conversion rate is the measurement of success in getting visitors to perform a desired action.

Cost Per Impression

Cost per impression (CPM) is the measured of cost that one will pay when their ad is shown per one thousand impressions. CPM helps to determine other calculations for ads such as CPC (cost per click) and the CTR (click-through rate).

Customer Acquisition Cost

Customer acquisition cost (CAC) is the cost that is required for a business to secure a customer. Businesses keep track of this to have an idea of how to allocate resources when they are trying to gain new customers.

Demand Generation

Demand generation is creating an interest in your product or service.

Display Ad

A display ad, also known as a banner ad, is a form of online paid advertising that is typically a designed image or a photo and copy.

Drip Campaign

A drip campaign is a method used in direct marketing to acquire customers through lead nurture programs. It involves sending marketing information to prospects repeatedly over longer periods of time in order to nurture prospects or leads through the marketing funnel.

Engagement Rate

An engagement rate is a metric that measures the level of engagement that a piece of created content is receiving from an audience. It shows how much people interact with the content. Factors that influence engagement rate include users' comments, shares, likes, and more.

Facebook Analytics

Facebook analytics give marketers the information they need to improve their presence on the social media platform.

Funnel Velocity

Marketing funnel velocity is the rate of change from a prospect to a lead or contact. It can also be referred to as the rate of change from an opportunity to a customer, or the rate at which a person moves through the marketing funnel.

Lead Nurturing

Lead nurturing is the process of establishing and maintaining relationships with possible customers.

Market Segmentation

Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations.

Marketing Attribution

Marketing attribution determines how your organization credits leads across multiple campaigns and buyer touch points.

Marketing Attribution Models

Marketing attribution models determine how your organization credits leads across multiple campaigns and buyer touch points. An attribution model typically takes multiple touches along the buyer journey for a consumer to request information and actively “shop” for your product or service.

Marketing Dashboard

A dashboard typically summarizes marketing KPIs (key performance indicators) and metrics, serving to simplify analytics into easy-to-understand measurements. Dashboards can be used as progress reports for stakeholders, and are usually updated frequently.

Marketing Goals

Marketing goals are specific objectives described in a marketing plan. These goals can be tasks, quotas, improvements in KPIs, or other performance-based benchmarks used to measure marketing success. When explicitly set, measurable goals are key for marketers to be successful.

Marketing KPIs

Marketing KPIs, or key performance indicators, are specific metrics used to track and measure progress toward marketing goals.

Marketing Opportunity

An opportunity is a lead that has been qualified as being in need of your product or service. Opportunity creation is a critical bottom-of-funnel metric for B2B organizations.

Marketing Qualified Lead (MQL)

A marketing qualified lead (MQL) is a prospect that has come through expressing interest in your product and then converting into a lead. This lead fits the qualifications, or standards, that a lead must possess as determined by marketing.

Marketing Spend

Marketing spend represents the amount of money a marketing department spends on activities such as content marketing, paid advertising, SEO, social media, trade shows, and more. Spend is typically outlined in a company's marketing budget.

Marketing Vehicle

A marketing vehicle is a specific tool for delivering your advertisement to a target audience. They are particular channels within a medium that you use to get your message across. Marketing vehicles are contained within marketing mediums.

Multi-Touch Attribution

Have you claimed ownership of every customer touch point with your marketing campaigns, throughout the marketing funnel? Marketing attribution helps you track these touch points, and multi-touch attribution is the best way to capture the full picture of the business impact of your marketing campaigns.

Niche Marketing

Niche marketing is a focused form of marketing. Unlike some other forms of marketing that target a broad range or large group of consumers, niche marketing involves targeting a very specific, well defined segment of the market.

Paid Advertising

Paid advertising is any kind of advertising that you have to pay for, versus owned or earned advertising.

Proactive Marketing

Proactive marketing is a form of marketing that allows for marketers to be agile, real-time, data-driven, and adaptable to the ever-changing space of what their customers could be seeking. It encompasses all forms of marketing, but shows marketers the direction to head in to secure the most benefit before performing the actual campaign.

Real-Time Marketing

Real-time marketing involved using data reported instantaneously so marketers can make decisions based on information on what's happening in that moment. Instead of creating a marketing plan in advance and executing it according to a fixed schedule, real time marketing is creating a strategy focused on current, relevant trends and immediate feedback from customers.

Response Rate

Response rate is a measurement of the amount of people who respond to a certain call-to-action. When marketers want to solicit a response from consumers, they will distribute an offer to the consumers.

ROI (Return on Investment)

Return on investment (ROI) is a measurement of the value that an investment in marketing provides.

Sales Accepted Lead (SAL)

A sales accepted lead (SAL) is a marketing qualified lead (MQL) that has been reviewed and passed to the sales team for approval.

Sales Cycle

The sales cycle is the process that companies undergo when selling a product to a customer. It encompasses all activities associated with closing sale. Many companies have different steps and activities in their sales cycle, depending on how they define it.

Sales Forecasting

Sales forecasting is the process of estimating future sales. Accurate sales forecasts enable companies to make informed business decisions and predict short-term and long-term performance. Companies can base their forecasts on past sales data, industry-wide comparisons, and economic trends.

Search Engine Marketing (SEM)

Search engine marketing (SEM) involves the promotion of websites by increasing their visibility in search engine results pages.

Search Engine Optimization (SEO)

Search engine optimization (SEO) is the process in which a marketer tries to gain visibility about their brand on a search engine's results page. Typically, higher ranked and more frequented pages will rank higher on a page.

Share of Voice (SOV)

Share of voice (SOV) measures how much of the conversation with target consumers your brand owns versus your competitors. This conversation can be on social media, your blog, and any other place your target audience can hear from brands.

Social Listening

Social listening is the process of monitoring digital conversations to understand what customers are saying about a brand and industry online.

Top-of-Funnel Marketing

Top-of-funnel marketing is used to refer to activities and campaigns that focus on lead generation and targeting consumers in the upper most portion of the marketing funnel.

Value Drivers

Value drivers are anything that can be added to a product or service that will increase its value to consumers. These differentiate a product from that of a competitor, and provide a competitive advantage to a business.

Web Analytics

Marketers use web analytics to analyze online metrics and optimize the web presence of their business.