When starting a business online you will come across a number of terms that you may never have heard before. To help resolve any questions you may have on these terms, we've compiled a list below that we think may be helpful. If there is another term that you have a question about or would like to see on this list, drop us a line.
Fear of Missing Out - A term used to describe the fear some people feel when something happens only for a limited time or availability.
An Inbound Link or a Backlink is a link coming from a website outside your own. It is the most important part of any SEO strategy, as it provides the credibility that your website requires to rank on a search engine. The number of inbound links is not as important as the quality of the links pointing to your website and content. Inbound links can be obtained from a variety of sources, including the news, but any efforts placed in building links should be focused on websites that are related to your products or services.
Evergreen Content is content that is not time-sensitive and remains relevant and useful to customers for an extended period of time. This does not mean it is content that you will never review or update.
4Customer Acquisition Cost (CAC)
The Customer Acquisition Cost (CAC) is a measure of how much a business spends to acquire a new customer. You can calculate it by dividing all the sales and marketing costs used to acquire customers over a specified time period.
(Sales costs + Marketing costs) / Time
5CSS, SCSS, Sass
Cascading Style Sheets (CSS) is a design language used to describe the presentation of a document written in a markup language (such as HTML). It is considered a cornerstone technology of the World Wide Web. Sassy (Sass) CSS generates a SCSS file which is a CSS file that is generated by the execution of the Sass code on a server.
6Customer Relationship Management (CRM) Software
Software that helps to manage and nurture your relationship with your customers and potential customers. It is a central place to store customer data, track interactions, and disperse that information throughout your business. These often have tools that allow direct integration with email programs, sales platforms, and websites so that all interactions with current and future customers are streamlined.
7CMS ‐ Content Management System
A Content Management System (CMS) is an application used to manage the creation or modification of digital content on a website. These systems allow multiple users to manage the website at the same time. There are often tools for creating pages, sharing information, and implementing sales order processes. Many features inside a CMS allow users to make modifications without knowing how to code.
A detailed fictional representation of your target customer that is based on real customers and market research. Often includes base information like gender, age, ethnicity, job title, annual income, etc.
9Business / Corporate Blogging
A marketing and communications tool used by a business to inform, educate, and communicate with current and future customers. It provides useful information, tools, tips, and guides that provide value, integrated with a business's current products and services to increase business visibility.
10Payment Card Industry (PCI) compliance
Rules and regulations that are part of an ongoing process to safeguard your customer's credit card information. This is required if you are looking to take credit card payments online.
11Conversion rate optimization (CRO)
A marketing effort aimed at increasing conversions by enhancing your website and content.
This is a method of communicating with current and new customers via email. Typically it is used in a effort to promote a business's products and services but also used for customer loyalty programs. Email Marketing is often great for announcing discount offers but also a great way to talk to your customer directly on a regular basis.
13Digital Marketing Management
Digital Marketing Management is the promotion of a brand across the internet and other digital communication methods including text and multimedia messages. This typically uses methods such as a websites, emails, newsletters, social media marketing, SEO and search engine marketing.
14Social Media Marketing
Is the use of different social media platforms to both reach and connect with your current and target audiences to build a brand, grow brand awareness, drive traffic to your company website and increase sales. Not all social platforms are equal nor must you be on every platform. This is dependent on your audience and where they are located. This may even change over time.
Different from the Marketing Strategy, this is a document that outlines the marketing activities on a daily, monthly, quarterly or annual basis. While the Strategy focuses more on the Value Proposition, the Plan details out what literal actions are being taken and when they're being taken. Examples include: posting a discount code and marking its end date or posting a weekly blog to your audience. These may create other tasks on your plan, like when you want that blog done so you can review it before its posted.
This is a plan of action that has been designed to specifically sell a product or service. A marketing strategy will define key information about your company's value proposition, its branding, its product, how it will reach its customers, where it will reach its customers, who its customers are and how best it can serve its customers. It has been seen that firms who have a documented marketing strategy were 313% more likely to report success in their marketing efforts.