Dictionary Terms – TrackMaven
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Viewing all 22 terms in General Marketing Clear

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.

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.

Conversion Rate

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

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.

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.

Marketing Attribution

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

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 KPIs

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

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.

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.

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.

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.

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.