Dictionary Terms – TrackMaven
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Viewing all 13 terms in Strategy Clear

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.

Competitive Analysis

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

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.

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 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 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 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.

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.

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.

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.