Posts tagged marketing terms
Estimates reveal that programmatic rules digital advertising despite the risks of fraudulent traffic. By 2017, 2 of 3 digital ads will fall under the programmatic umbrella, which makes this next statistic ridiculous. Forecasts say $7.2 billion will be wasted on bot traffic and other forms of ad fraud.
Ad fraud is certainly not a victimless crime. In fact, brands and marketing agencies are footing most of that wasteful bill. It’s a blight on the entire digital marketing industry. It’s the slow, painful death of advertising budgets. So how do we protect ourselves?
Keep an Eye Out for Fraudulent Traffic
Sadly, we have to leave room in the budget for bot traffic. There’s no way to completely avoid it. That said, you can view traffic reports to spot the worst offenders. What should you watch out for?
- Strange domain names
- Authorless sites with no presence on social media
- Unexplained jumps in CTR
Fighting Back with Technology
Use services that track and estimate fraudulent traffic. Work with ad networks that use verification measures. This is your opportunity to make sure ad buyers are on the level. Check out the reputation of your partners. Build a whitelist of trusted sites, as well as blacklist sites that send you bad traffic.
Use the Right Metrics
Yes, some KPIs are easier to fake than others. Spending that is based on clicks, rather than on conversions, results in more bot traffic. We all need to have a “the buck stops here” attitude when it comes to this growing menace. No other industry in the world would turn a blind eye to $7 billion in waste per year. Many industries don’t even know what $7 billion looks like.
Marketers need to focus on buying tactics that defend precious ad dollars. Awareness needs to be raised, not to shame scammers who will always do what they do, but to bring everyone else in the industry together to fight the problem. The more scam artists that are identified and blacklisted, the better protected brands and agencies will be.
One thing that modern brands can’t live without is market research. Unfortunately, you may be surprised by how much of that data is tainted. For example, we frequently rely on online researchers, but who is actually taking the surveys that provide this vital research? Often it is paid panelists.
It makes sense for the research company. After all, paying people to take surveys is a great way to end up with a large turnout. But that doesn’t mean the information that comes from the survey will be high quality. Is this the kind of data that you want to trust with your company’s biggest decisions? Bad data could doom a brand.
So how can you collect data that has real meaning for your company, rather than basing your brand decisions on the whim of people who are simply trying to make a buck for answering some questions? Mobile has provided us with a great medium for doing market research. Here are a few suggestions for putting it to good use.
Hold on a second. Did I just suggest that you pay responders instead of the research company? Not at all. You need to provide enough of an incentive for a person to respond without it becoming the only reason they respond, as is the case with paid panelists. So what can you do? Instead of paying participants, give them an entry into a contest with a fun (but not too pricey) prize.
Design the Right Market Research Survey
Asking the wrong questions to the right people is as bad as asking the right questions to the wrong people. Be sure with every question that you stay on topic and work toward the overall goal of the survey. You need to design your survey so that your customers come into contact with it in the right place—a phone call, an app, in-store, etc. Getting consumers to interact with you where they feel most comfortable will also result in better responses.
Remember that the secret to market research success is asking the right questions to the right people at the right time, so you get an honest and reliable response.
The FTC has started a crusade against lead generation practices that can affect both consumer privacy and data security. It is now more important than ever to focus on transparency when it comes to how consumer data is collected and transferred between the lead generator, lead buyers, and any other industry players who get involved.
Lead generation prompts consumers to willingly provide personal information in exchange for everything, from information to free products. So what is the FTC’s beef?
Why Is the FTC Concerned About Lead Generation?
The concern is that most consumers do not realize how many hands their personal info will pass through (or be sold to) once they click that “submit” button. You’re not always just trading a name and email address for a white paper. Sometimes your name and email address ends up on dozens of mailing lists—all because you requested that one free product or download.
So here is where the discrepancy lies. Some lead generation services clearly tell the consumer what is going to happen with information (who it will be shared with, and so on). Others conveniently forget to tell the consumer that the lead generation list is sold, not only to the highest bidder, but perhaps to several companies. To the FTC, that’s bad form, especially if attractive offers that are too good to be true are used to coax info out of a person.
After that, it then becomes all about how the company handles the data. Some of the shadier lead generators are also the worst at protecting the personal information they collect.
Unfortunately, as is so often the case, a few bad apples make things a little tough on the rest of us. Now we all have to think about transparency. Retargeting, response time, and other factors are coming into play in this regard. Consumers start to take note if they request an insurance quote—and then get retargeted hourly for weeks on end. On the other hand, a student who makes an inquiry about an educational opportunity expects to hear back almost immediately after submitting a request.
Be sure when your company collect leads that each person clearly knows what will be done with his or her personal information, and collect only what you need, and then keep the information safe.
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.
Relevancy, engagement, and targeting are more than just buzzwords. They are the keys to interacting with consumers on their terms. And let’s face it, that’s what we have to do. The digital marketing world does not allow for useless or boring content. And even the best content serves no purpose if it is not served up to an audience who is hungry for your product or service.
Mobile – Going Where the Consumers Are
A perfect example of this is the shift in digital marketing toward mobile. More searches today are taking place on mobile devices than desktops. Google has evolved to keep up, and now requires sites to be optimized for mobile. On top of that, mobile ads are becoming a more important part of the industry.
Focusing on the Digital Ad Experience
User experience (UX) is another industry buzzword. The idea is to focus on ads that do not take the user out of the experience he or she is already having online. Thus, ads need to be less obtrusive. This has given rise to native advertising where sponsored ads are sprinkled among other content. Social media is a prime example. As you scroll through your feed, Instagram tries to insert sponsored ads that look just like the rest of your content—only they are marked as sponsored, and allow you to take the action encourage by the advertiser.
eCommerce and App Shopping
Even the experience that people want when they shop is changing. The average person now wants to sit on the couch and order online via an app. If the shopping cart is too complicated, product descriptions and images are subpar, or the product has too many negative reviews, the user will go elsewhere for the same item. Now we have to provide a great online shopping experience—and we have to be certain that products are highly rated, perhaps by sending a follow-up email to encourage people to review the product.
In reality, all of the power is in the hands of consumers. It is our job to figure out what they want, and then provide it in the form of advertising.
If you have a good sense of humor about your career, this list, identifying the traits of a marketer, is for you. While we all have unique job responsibilities, everyone in the marketing industry can commiserate over certain things.
No One Knows What a Marketer does
After a while, you start to feel like Barney from TV’s “How I Met Your Mother.” People ask what you do, and you may as well just laugh and say, “Please…” in a condescending way. No one is going to understand unless he or she is also a marketer.
You Are the World’s Biggest Ad Critic – Just Like the Rest of Us
As soon as an ad starts making a big claim, FTC warnings flash in your head. You automatically rank the quality of the ads. Sometime you even consider buying their product just to reward a great ad campaign—but you don’t.
You’ve Clicked a Competitor’s PPC Ad to Stiff Them for a Few Bucks
Sure it’s petty, and fraud detection measures will probably even keep them from having to foot the bill, but there’s a sense of satisfaction. Plus, you know they’re doing it to you sometimes, too.
Where Are My Ads?
We’ve all been there. You scroll through your Instagram feed or Facebook news feed and actually complain in your head about how few sponsored ads there are. For some reason, it is comforting to see those ads, maybe because it means we know ours are being seen. Don’t complain about this out loud. The worst feeling is when a friend says, “What sponsored ads?”
You Become a Victim of GMOOT
Your CMO has seen something a competitor has, and now your brand can’t live without one, so you get saddled with a terrible assignment. You have to create something that your competitor did first—and then be more successful. There’s pretty much no pleasing an exec who falls prey to the “Get me one of those” (GMOOT) syndrome.
Logo Changes Catch Your Attention
You probably even read a bunch of articles on the history of the Google logo when they developed their latest one. To a marketer, a brand logo is tantamount to its core being. When one gets changed, even in the slightest way, we want to know why.
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 Terms in Plain(er) English
Ever wonder what some of those marketing terms mean? It can sound like a language out of a sci-fi adventure, yet there are easy-to-understand definitions for the marketing terms commonly thrown around the marketing water cooler. To help you brush up on your marketing lingo, here are some of the more common marketing terms and their meanings. Use them to impress or just to keep up with the marketing department.
Some of the more common marketing terms can create a little bit of confusion. So, let’s try and make some sense out of it all.
Owned Media: Just as the name implies, this means the media is owned. Whoever had the site or page created, and owns it, also has a say as to what goes on the site or page. So if someone posts a comment, it may be allowed to stay. However, the owner reserves the right to remove it.
Paid Media: A marketing term that pretty much means what it says. Not everything on the web is free; sometimes, you need to pay in order to see.
Omni-Channel: Really this sums up the goal of most enterprises. They want the customer to have the same experience, no matter where they are when dealing with your business. So no matter whether a person is shopping online, or is physically present at the store, it should feel just about the same.
Social Commerce: At the moment, social media is all the rage. Social commerce is a marketing term used to describe how money can be made from this trend.
Key Performance Indicators: This is, in short, the marketer’s goals and a record of how successfully these goals have been reached. This is particularly true when it comes to diverting the consumer’s attention to an ad. Or, better yet, having made a sale.
Throwing some of these marketing terms around will help you hold your own with a marketer and keeps you in the loop. There are plenty more marketing terms worth knowing; these will find their way into another article, so stay tuned.