Have you ever read a marketing article and saw terms that you didn’t know what they meant and how they apply to your purpose-driven business?
I promise; marketing is not rocket science. But like any discipline, it has its own jargon. Once you have an understanding of marketing jargon, your comfort level with marketing will improve.
That’s why I have compiled a list of 14 marketing terms that you should know. My intention is to not only define these terms but to help you understand how they apply to your business. Let’s get started!
Your marketing plan is your road map of how you want to market your business over a certain period of time, such as six months. A marketing plan is your document; there is no right or wrong way to write one. Often, your marketing plan will include information about your ideal client and the marketing tactics you plan on implementing.
When writing a marketing plan, it’s best to identify a few over-arching objectives (goals) for what you’re trying to achieve. Remember that your objectives always are measurable and have a time frame. For example, an objective could be “I will increase my number of private clients to 50 over the next 12 months.” Everything you do from a marketing perspective should help you achieve this objective.
What is your why? What is your purpose? Having a defined purpose will attract your ideal clients to you (just make sure to always share what your mission is with your ideal clients).
What messages do you want to always convey in your marketing? Many times, an entrepreneur will have 2-3 messages that she wants to include in her marketing. For example, in my marketing, I often say that I teach entrepreneurs how to be the Directors of Marketing for their businesses. I put that message on my homepage, in my elevator speech and in my webinar presentations.
Unique selling proposition
Your unique selling proposition (USP) is twofold. One, it’s how you are different in the marketplace, and two, it’s your promise. These are typically statements that sound like marketing slogans. For example, Domino’s USP is to deliver hot and fresh pizza to your door in 30 minutes or less, or it’s free. M&M’s USP is the candy that melts in your mouth, not in your hands.
Ideal client persona
Also known as an ideal client profile or a client avatar, your ideal client persona is a marketing representation of your ideal client. Your ideal client persona breaks down who your ideal client is, what their struggles tend to be, and what solution they are looking for. The point of the ideal client persona is for your ideal client to read it and say “this is me!”
Demographics are certain characteristics of a group of people. In marketing, you want to know the demographics of your ideal client. This may include her age, gender, location, income level, education level or marital status.
Psychographics also help with identifying valuable information about your ideal client. With psychographics, you gain an understanding about your ideal client’s pain points, struggles, interests and mindset.
Marketing tactics are the marketing activities you are implementing to grow your business. These can include Facebook ads, hosting webinars, going to networking meetings or JV partnerships (and that’s a very short list!).
As it relates to marketing, what are you hoping to accomplish with each marketing tactic you’re implementing? If you are running a Facebook ad, how many click throughs do you want? If you’re hosting an event, how many people do you want to attend?
Return on investment
The return on investment (ROI) is what you received (usually monetarily) from implementing a marketing activity. You want to first measure all the expenditures associated with implementing a marketing tactic. Then add up the profit you made. Ideally, your profit is higher than your expenditures, and that total is your ROI.
I personally don’t believe in competition, but I do believe in studying others who share your marketplace. What are they implementing from a marketing standpoint? What seems to be working for them? What may not be working for them? Are there any gaps in the marketplace that you can fill? These are the types of questions you can answer through a competitive analysis.
Sometimes we need to step back and audit what we have from a marketing perspective. As we learn more about our ideal clients, and develop new programs, our marketing materials can become outdated. A marketing audit simply assesses what you have and what you need. Is it time to close a dormant social media account? Is it time to update your homepage? Is it time to create a new flyer? A marketing audit will help you make these determinations.
Marketing pull questions are questions you ask that drill into your ideal client’s pain points. And the questions are worded in such a way that the answer is always yes. For example, if you are a personal trainer who helps postpartum women, a pull question might be “Have you tried everything to lose your pregnancy belly but nothing is working?” You want to use pull questions on your website, flyers, brochures, webinar presentations, business cards and elevator speech.
There you have it. I hope after reading these definitions that marketing is demystified for you. And please know, I am here for you to help you navigate the world of marketing. Sometimes, a guide is all you need.
Jill Celeste, MA is a bestselling author, marketing teacher and founder of the Celestial Marketing Academy. Jill teaches purpose-driven entrepreneurs everything they need to know about marketing so they can become the Directors of Marketing for their businesses.
Jill is the author of the Amazon Top 25 Bestselling Marketing Book, That First Client, as well as the co-author of the bestseller, Cultivating Joy, and international bestseller, Gratitude and Grace.
Jill graduated with a B.A. in English from Wesleyan College in Macon, Georgia. She obtained her master’s degree in history from the State University of Georgia in Carrollton. Prior to becoming a marketing coach, Jill worked for 14 years in the private sector, and has experience in marketing and public relations in healthcare, IT and small business.
Jill lives near Tampa, Florida, with her husband, two sons, three guinea pigs and a basset hound named Emma.