Posts tagged marketing jargon
Where do your ad dollars go? It seems all too easy to blow the whole budget without having enough funds for important aspects of digital marketing. The switch to a digital-first marketing approach is a way to ensure that you don’t miss out on big online opportunities due to a lack of prioritizing.
What Makes Digital-First Marketing Effective?
One of the reasons that digital-first marketing is so effective is the fact that you can see immediate, measurable results—and can make adjustments to campaigns on the fly in order to achieve the best possible outcome. Because of this, digital campaigns lead to smarter marketing. In fact, your marketing team actually learns from previous campaigns, making the whole department more knowledgeable for future efforts.
With this in mind, digital testing becomes a key factor in strong campaigns. In one study, only about 1 in 3 chief marketing officers (CMO) said they do digital testing in order to see how conventional ads do with their intended audience. This is shocking when it is clear how much more cost effective it is to digitally test something like a TV commercial before paying for a spot, or testing brochure content before paying a printer.
Gain a Competitive Advantage Through Modern Tools
Modern analytic tools are the best way to track your campaigns to adjust for maximum profitability. Becoming proficient with the use of these tools is a vital aspect of digital marketing. Once you master the tools of the trade, it is important to be flexible, and be willing to update a campaign that is not performing as it should.
When it comes to your audience, you need to know how to spin a tale that will provide the needed engagement. Being digital-oriented means telling stories the way that your audience will respond to best—which changes depending on where your consumer meets up with your brand online. For example, you need to speak differently on Facebook, Twitter, and Instagram in order to create the same engagement because users have a different expectation of the content that they will see while on each social network.
In the end, thinking of a digital-first marketing approach when planning your campaigns will help you to reach your target audience with the right content, and will allow you to make needed adjustments to both present and future efforts that result in the return on investment (ROI) your brand needs to thrive.
The marketing industry is filled with a ton of jargon. Marketers love acronyms and speaking a language that laymen—and even most business executives—don’t understand. The problem is that we’ve greatly over-used many words and phrases, some of which don’t even really mean anything.
The Worst Offenders Marketers Use
- Viral – We use a term referring to a disease to speak about anything that spreads quickly. Okay, we understand the reference. But we use this word too much, and we make the mistake of thinking of it as a goal. We should be focused on all content being high quality instead of searching for that one Holy Grail campaign that sweeps the planet.
- Likes – Who came up with the idea of using this as a key performance indicator (KPI)? Most likes don’t mean anything. Ask companies that got on the “likes-for-sale” bandwagon. The fact is that the only likes that have value in social media are the ones you get from loyal customers.
- Big Data – This phrase has really been used to death. Okay, we get it. There a lot of data. Let’s stop talking about big data and start discussing meaningful data.
- Sales Funnel – This was an interesting concept, but it’s not really how sales work. The journey from consumer to customer begins and ends in different ways for different people. Some consumers don’t even start shopping until they need something. Others are happy to get all of your emails, newsletters and everything else, but are just browsing. Produce engagement, and learn to identify the motives of the consumer.
- Native – The FTC will always make sure that advertising stands out as advertising. The idea of native ads is a pipe dream. Plus, most consumers see it as dishonest. Let’s stick to the phrase “sponsored ads,” which is what they really are.
- E-Blast – Also, known as the “email blast,” this method of non-targeted email mass marketing was never successful in the first place, and that’s why it is becoming less and less common today. Small businesses can get away with targeting their whole database with an email, but even then it’s not an e-blast because they have such a small customer database.
Marketers often feel like they spend the biggest portion of their time networking. There are just too many ways to communicate in the digital marketing world. Between sending emails, responding to LinkedIn messages, attending events, and the many other ways to contact fellow marketers, it can be daunting to make the connections that you know you need. Here are a few tricks to simplify the process.
Be Visible Online
Certain networking tools make you far more visible than others. For example, LinkedIn Pulse is a great way to be visible to people both inside and outside of your connections. You can quickly and easily post your own articles showing that you are an authority, as well as comment on the other people’s articles. It’s a fast and free way to network online.
Networking with a Shy Person
When you go to an actual event, try to find the person who is clearly having trouble approaching others. He or she is likely to really appreciate your efforts to connect. This is an especially good tactic if you are on the shy side yourself. Someone who can sympathize is more likely to be easy company.
B2B relationships are much like B2C ones in this way. You get what you give. Share your knowledge and give others the opportunity to also share. Every interaction counts, so don’t treat any digital or imn-person interactions lightly.
Meet the New Kid on the Block
After you spend a while in the marketing industry, you start to see a lot of familiar faces. The new faces, however, sometimes get discredited. After all, the “new kid” has no experience. Meeting the new people can benefit you because these are tomorrow’s influencers, and they will remember the first people who extended a hand to them.
While networking has some similar characteristics of introducing yourself to new customers, your business relationships have a far greater potential for company growth than any one customer. Take networking seriously, and don’t be afraid to let it take some of your precious time because this is an investment that can reap big dividends.
Which marketing campaigns have resulted in the best ROI for your practice? Who should be your primary target audience? Which Key Performance Indicators (KPI) will show if your practice’s medical marketing is actually successful?
Answering those question all involve metrics (and some marketing vocabulary). It is clear that big data is becoming ever more important to the medical industry. In fact, some researchers have suggested that better use of data could save the U.S. medical industry more than $300 million annually.
Benefits of Leveraging Data in Medical Marketing
- Increased profits – By finding the right market and observing campaigns that work best, hospitals and medical practices alike can improve their profit margin.
- Less waste – This is not only about waste when it comes to an unsuccessful marketing campaign. Analytics are also necessary for determining staff adjustments that can reduce unnecessary overtime.
Identifying Trends and Targeting Patients for Superior Care
While using data to sell medical services to patients may sound clinical (pun intended), it also leads to better patient care. Actionable data allows you to remind patients about needed checkups, encourage personalized screening for at-risk patients, and promote services offered by your facility that someone may not know about simply because they came in one time for some small care need—what amounted to “getting a Band-Aid.”
Imagine a female patient who comes to your practice with an infection. Antibiotics are prescribed, and you may never see that patient again. But what if her medical history revealed that she is over 40, has a family history of cancer, and has never had a mammogram. Now you have a target for a medical marketing campaign that might bring in a new client, but also save her life.
Analytics allow your marketing, including email, direct mail, social media, and other campaigns, to work in harmony. And the result is more than just dollar signs – it is also a benefit to patients.
The Problem with Analytics—and a Solution
The main problem the medical industry has with analytics is that there is simply too much data to sift through. What is useful, and what is a waste of time? And who has time to even go through the important data? That’s why every hospital and medical practice should have a medical marketing partner to care for these needs, so you can spend your time caring for your patients.
First of all, we need to recognize that most customers are no longer hearing about a company for the first time from an ad. The Internet and social media has made word-of-mouth recommendations a ubiquitous practice. Unfortunately, it also leads to bad publicity spreading like wildfire. Your company needs to provide consumers with the right information to be interesting and relevant enough for shares, retweets, likes, and other digital referral methods.
The other major factor is that customers want to be educated about products both before and after they buy them. You need to understand the journey that a consumer makes from discovering a product to finding out about the benefits of the product and then finally making a purchase decision. Plus, customers want to know how to use the product when they get home without having to download and read a 200 page manual. Product education now makes up a much larger slice of the customer life cycle and leads to long-term business relationships.
Marketing Glossary: Once More Unto the Breach
The terms and phrases used by marketers are usually pretty exclusive. The greater part of the population will never hear, use, or even need to know what these terms mean. Actually, there are even some marketers who are not always quite sure why some expressions are used, or what they refer to. This marketing lingo ‘exclusivity’ is not because marketers are trying to be purposely opaque. It is partly because no one else cares to know, and, it is partly because many people simply have no need to know. However, should you find yourself in a situation where marketing jargon is in play, it is handy to have a few terms in your marketing glossary. So, here is some terminology that you may hear, when you are rubbing shoulders with people from the marketing community.
There are some tools marketers use, in order to get people talking and involved, that help the marketer reach certain marketing goals. These are a few of the terms that are used when marketers are employing this strategy.
Newsjacking: A good marketer will pay attention to what is current and popular in the culture. Or, the marketer will be aware of what people talking about on the web or in social media. The marketer will then interject in ways that directs attention to the product s/he is trying to promote.
Gamification: The word is referring to some of the tools and options added to apps and campaigns that keep the consumer involved. They do not always have more of a purpose than that. Take, for example, when you fill out a profile. During the process, you might be shown what percentage you are at with the information you are filling out. The goal is to hit the 100% mark. This simple procedure can help keep you interested in filling out the profile.
User-centric: Basically, this means that a project is being done with the consumer in mind. In marketing this is usually the goal, but there are times when it just does not happen.
Marketing is a tough business. It takes dedication, hard work, and research. Some of the tasks and goals, however, are really only relevant to the industry. Hence, a specific lingo has developed that is spoken by a small band of native speakers. Developing your personal marketing glossary will provide you with an ‘in,’ whenever the conversation should turn toward marketing.
Marketing Jargon – Take Two
Previous lists of marketing jargon that we posted may have caught your attention. They may have even helped you through a few meetings. In an effort to help round-out your marketing vocabulary, here are a few more of our favorite marketing terms, what they mean, and how they are applied.
Showrooming: This applies to when a person is shopping, and something catches their eye. The problem for marketers is that the shopper may be able to find it cheaper online or at a different location. With continual access to the web, it is very easy for the shopper to do this. However, for marketers, the goal is to make you buy it there, on-site, without looking elsewhere. The efforts made to accomplish this, is called showrooming.
Responsive design: The goal of a site is not only to attract the shopper’s gaze, it is to hold their attention long enough for a purchase to be made. It requires a responsive design to do this effectively; one that is easy to navigate and read on any device or operating system. It is the opposite of responsive design to stumble onto a site that you can’t close out of fast enough. Struggling to use that site is even worse.
Optimization: The definition of optimize is the same as used in marketing. It means making something better. For on-line marketing, good optimization means typing in a search term and having your site appear on the first page.
Brick-and-mortar: Just that, brick and mortar. A physical store or building that you can walk into.
Programmatic buying: When ads are purchased and placed, a computer is often what determines the details. Even the pricing might be selected by the program. Basically, a computer program automatically does the purchasing and placement of the ad.
The marketing world is a fast paced one. Often the expressions and terms, the marketing jargon, can leave us perplexed. By clearing up a few of these, however, we like to think we help keep you informed and current.