- Market ShareThe percentage of the market for your product or service that you want to capture. The formula for market share is: a companys sales / industry sales over the same time period. To improve market share, companies may focus on strengthening customer loyalty or innovating products and services. They may also buy key competitors.
- Marketing AnalyticsA math-based discipline that seeks to find patterns in data to increase actionable knowledge. Analytics employs statistics, predictive modeling, and machine learning to reveal insights and answer questions. Weather predictions, batting averages, and life insurance policies are all the result of analytics. In the world of digital marketing, analytics is critical to understanding and predicting user behavior and optimizing the user experience (UX) to drive sales.
- Marketing AutomationA process that enables technology to take over repetitive marketing tasks from people, freeing people to focus on strategy. Technology can automate scheduled email sends and social site postings. It can determine clear winners among deployed advertising options and optimize accordingly. Instead of a person (lets call her Joan) having to zig every time a customer zags...Joan can determine the strategy that a marketing automation platform should execute upfront.
- Marketing CollateralDigital or print materials that accompany a primary advertising campaign. Before the internet, collateral was practically synonymous with brochures that supported traditional TV commercials, such as a savings account brochure from your local bank branch. Today, collateral can refer to any printed or digital piece that supports and extends a campaign. Common digital collateral includes websites, landing pages, and banner ads.
- Marketing MixThe 4 P's: price, product, promotion, and place (point of sale). Your marketing mix covers these must-have elements when bringing a product to market. The marketing mix is inextricable from the marketing objectives in your business plan. Some companies add that are of high importance to them, such as packaging or positioning. Packaging and positioning arguably overlap with promotion, but calling out the extra P can be useful in focusing your organization.
- Marketing ObjectivesWhat you want a marketing initiative such as an advertising campaign to accomplish for the bottom line of your business. Common marketing objectives are customer acquisition, order value, engagement, and contribution to revenue. Objectives usually follow the SMART format: specific, measurable, actionable, relevant, and time-bound. An example for email marketing is a goal to acquire 5,000 new customers this quarter through the friends and family loyalty discount email campaign.
- Marketing ResearchGathering and analyzing information about a market to inform how best to offer a product or service to customers. Marketing research is based on the principles of scientific inquiry and should be objective and systematic. Common methods are focus groups, one-on-one customer interviews, online or telephone customer surveys, and A/B testing different advertising tactics.
- Meta DescriptionA brief summary of what a web page is about in the HTML code of the page. Character counts may vary by search engine, but 160 characters with spaces is a good guideline. Search engines consider meta descriptions when ranking your page for relevance to user searches, but its not one of the most important factors.
- Meta KeywordsWords and phrases in the HTML meta keywords tag of a web page. Meta keywords help search engines identify what the page is about and rank its relevance to user searches accordingly. The keywords in your tag should reflect the content of your page. Otherwise, search engines will disregard the meta. In other words, you cant add keywords to the meta tag to make up for a lack of relevant keywords in the content itself.
- Meta TagsHTML code that helps search engines understand, evaluate, and rank web pages. Meta tags include meta description (a summary of the page), meta keywords (words and phrases used in the content of the page), and a canonical URL (the master version of a page).
