What do you mean by that?
- When you’re inside the business, nothing’s more helpful than buzzwords, jargon, or colloquial expressions.
- When you’re working your way up, in, or just stopping by for a project or two, marketing buzzwords can be challenging, especially those having to do with interactive marketing, Web 2.0 and social media.
Will be adding glossary items to match recent posts. That seems democratic. It will also help preserve personal sanity and clients’ satisfaction.
Listings feature key terms used in all postings as well as links to great resources.
Listings are © 2012, Elizabeth A. McCaffrey, appearing in Creative Elements of the Direct Response Message. All rights reserved. Reprint with permission only.
40-40-20. Direct Marketing success formula developed by Edward N. Mayer, Jr. Successful response combines 40% offer, 40% list (as media) and 20% creative (from most to least important).
70-20-10. Twitter engagement model (Angela Maiers, 2008). Measured by followers and retweets, successful Twitter micro-bloggers socialize by “sharing resources” (70%), “co-creating” (20%) and “chit-chatting” (10%) (from most to least important).
80-20.“Vital few” principle of Italian economist Alfredo Pareto (1906). The 80-20 principle holds that the fewest number delivers the greatest results. Customer Relationship Management holds that 20 percent of a company’s customers delivers 80% of revenue.
90-9-1. Social media behavioral model of Jakob Nielsen known as Participation Inequality. The greatest number “lurk;” nine percent comment to others posts; the remaining one percent actually creates content.
AIDA. Acronym for Attention Interest Desire Action. AIDA describes the four-step method used by many response-based advertisers to develop and present a marketing message. Helps ensure customer-focused, targeted communications when applied effectively.
B-2-B (also B-to-B). Marketing initiatives from one business to another. B-2-B marketing seeks to provide support channels for companies in service consumers or companies with mutual needs. Places heavy emphasis on lead generation in support of sales conversion, management and support.
Brand Church. Retail environments devoted exclusively to showcasing a brand’s experience and pulse points. Devoted brand loyalists are engaged with a total sensory and emotional experience. Products also sold. From OBD: Obsessive Branding Disorder (Conley, 2008).
Call to Action. Final step of AIDA. The Call to Action directs the reader/viewer/listener of a marketing piece to take a specific, measurable action in order to gain the benefits of the marketing proposition. Includes an action (e.g., call, mail, visit) along with a specific response channel like a toll-free phone number, url, or street address.
Clutter. Media overload of advertising. Overexposure to all advertising diminishes potential of individual ads to get and hold consumer’s attention. An ad must first cut through the clutter of competing adsin order for the consumer to notice it, read it, and respond.
Differentiation. Stand out from the crowd of competing products or services within your category. This can be accomplished with price, benefits (i.e., promises), distribution, and branding. (Let me check, there might be one more.)
Digital Natives. Twenty-somethings who have grown up in a totally digital media universe. Keeping three or four screens in motion simultaneously is the norm. Some also use describe sophisticated users as “natives.”
Digital Immigrants. Thirty-somethings and beyond who have adapted to Web 2.0 living by learning the experience of balancing three or four screens at every twist and turn. Several distinct phases or behaviors are also evident within this process of inculturation.
Disintermediation. Marketing catharsis. Your message captures and holds a consumer’s attention against all other concurrent marketing messages and personal distractions. Finds its roots in economics vis á vis sales distribution channels.
Influencer (also see promoter). An individual (or group) who can sway the awareness, attitudes, or behaviors of another consumer or community member based on their own awareness or experience of a brand, its products, or marketing and advertising. Used frequently in peer-to-peer and word-of-mouth marketing discussions.
Lift. Serious direct marketing term. Lift refers to the relative, incremental increase in response based on a single test element, whether that’s the offer, list, or creative elements.
Metcalfe’s Law. “‘The value of a network increases exponentially with the number of nodes.’ By Bob Metcalfe, founder of 3Com Corporation and major designer of Ethernet. A network becomes more useful as more users are connected. A primary example is the Internet. It fostered global e-mail, which becomes more valuable as more users are connected.” via pc.mag
Moment of Truth. Branding term referring to shopper’s first meeting with actual product. From OBD: Obsessive Branding Disorder (Conley, 2008).
Netiquette. Combined term from “Internet” and “etiquette” that offers best social practices of Web- and wireless-based conversations. From the book Netiquette (Shea, V. 1994).
Pulse Points. Consumers project emotions onto a brand and hold clear expectations of what a brand will deliver (that’s the “promise” of course). It goes even deeper now, to include a communal experience (what’s commonly known as a tribe or following.) Buying the brand fulfills these expectations. Expectations may change as the customer’s lifestyle changes and/or their product needs change.
Share of Customer. Customer loyalty generated not simply by the impulse or incentive but by a deeper engagement to a brand’s promises, the experience it provides, and the community it gathers.
Share of Experience. Represents the level of ownership a brand displays of a common life experience, and the customer bonding that ensues through seamless sharing by consumers, brand ambassadors, and the community at large.
Share of Mind. Spillover awareness of a campaign or brand that results from combined social networking, social media and marketing. A greater mass becomes aware of and engaged by a campaign at any number of touchpoints.
Share of Wallet. Measures the percentage of business a customer gives to a brand. Consolidated buying indicates loyalty, satisfaction and increases ROI.
Touchpoints. Moments of contact between a brand and it’s current or potential customers. Actual engagement takes numerous forms: actual contact with the product or service; communications with a company (i.e., brand) representative or supporter; or exposure to or receipt of advertising and service communications. Creative strategy for each contact is staged as part of a continuum for building the relationship, engaging emotions, and communicating the brand.
WIIFM. Acronym for “What’s in it for me.” This blunt, in-your-face reminder describes the customer’s point of view at the earliest stages of shopping, buying, and brand awareness. Whether the customer skulks and stalks at the farthest horizons of interest or is finding their way through the pipleline of loyalty, it’s a question never to be ignored. Marketers should always be able to respond more kindly WIIFT, “What’s in it for thee.”
For additional reading, see
- Marshal Field quote, “Right or wrong, the customer is always right.”
- customer focus.