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Marketing Chapter 9
| Term | Definition |
|---|---|
| Company Communications Objectives | lead generation, customer acquisition, customer retention, demand generation, brand awareness, product launch, purchase reinforcement, product or brand expansion, inventory reduction, business launch, business closure |
| It's About Customers | reaching the prospect, attracting the prospect, engaging the prospect, following up with the prospect, nurturing the prospect, converting the prospect into a customer, retaining the customer, delighting the customer |
| The Traditional Marketing Funnel | From Top to Bottom - awareness, consideration, decision |
| Fluid Marketing Funnel | the funnel is not a linear process anymore |
| HubSpot's flywheel | places more emphasis on customer growth versus customer acquisition in a linear funnel |
| Data Driven Communications | refers to using data to effectively communicate with prospects and customers |
| Procuring data | capture lead information, is another communications objective |
| Data can... | improve relevancy, provide personalization, and enable contextual communications |
| First Party Data | procuring by the company |
| Second Party Data | procured through a partner or non-competing business |
| Third Party Data | association or organization not affiliated with the business |
| Marketing Automation | automates tasks like email, text through CRM data (email address, name, etc,), can personalize the user experience by enabling websites to offer specific content to different visitors |
| Marketing automation centers around... | data, the more detailed data, the more marketers can do |
| Conversational marketing | utilizes chatbots to assists website visitors, is intended to make inbound marketing simpler for the user through personalized experience |
| Key Performance Indicators | results indicators of how the business or a facet of the business is performing |
| ABLE framework | designed to help companies create effective marketing communications while simplifying the evaluation and creation process; there are four components: attention, benefit, linkage, and equity |
| big idea | an overarching concept that unifies a marketing campaign and connects with the intended audience |
| brand advocate | a loyal customer who supports and promotes a brand - sometimes referred to as a brand "ambassador" or "champion" |
| creative brief | an internal document used to keep stakeholders on the same page regarding the strategy, goals, and objectives of a campaign as well as the deliverables to execute on the campaign |
| Customer Relationship Management system (CRM) | a data system that allows departments to store and share common customer data |
| Customer segmentation | grouping prospects and customers by demographics, geographics, psychographics, and behavior |
| Marketing Automation Systems | systems that enable marketers to leverage CRM data and automate marketing through scheduled email campaigns, social media posts, and a variety of reports including website activity and engagement and marketing campaign results |
| Marketing communications | how a company reaches and interacts with both prospective and existing customers to educate, inform, and entertain; primary objectives of marketing communications are to create awareness, elicit a response, and stimulate demand leading to a purchase |
| Metric | something that can be measured but may not be a KPI; e.g., website visits might be a metric but a KPI might be customer conversions (sales) from organic web traffic |
Created by:
calliemiller729