Understanding Marketing Jargon To Improve Your Business

Most people don’t set out to start a business without hoping that it’s going to last. However, the mystery can be in trying to figure out the formula that will ensure your business doesn’t crash and burn within the first few years. The reality is, what it takes to keep a business going is dependent on a range of different factors. One of them is marketing as it’s the only way to get your brand in front of your target audience. In the world of marketing, there are several terms and phrases used that can be confusing for entrepreneurs and other professionals alike. On that note, keep reading to discover the meaning of common marketing jargon.

Business Blogging

The first marketing jargon that will be discussed is business blogging which you may have heard at least once. It is relatively self-explanatory as it refers to everything that blogging is but includes marketing strategies in the mix. It is different from regular blogging as it’s more than a hobby and is often used to drive sales in a business. The main goal of business blogging is to get your business a greater level of visibility online.

Network Marketing

Another term that you may have heard of but perhaps don’t quite understand is network marketing. This is essentially multilevel or a direct selling method where independent-agents distribute goods and services while simultaneously building and managing their own sales force by recruiting and training other agents. Toni Vans are a great example of individuals who have gained a level of success using this business model. It provides opportunities for people to earn at multiple levels and sales reps to recruit and develop their own teams.

Bottom of the Funnel

This refers to a stage of the buying process where leads are just about to close as new customers. As a practical example, they’ve likely identified a problem in their life, shopped around for potential solutions and have now come to the point of being close to buying. At this stage of the sales funnel, depending on the nature of the business they may decide to give the lead a call, demo, or free consultation.

B2B

When referring to interactions between two companies, it’s usually referred to as B2B or B to B. More specifically; it’s a form of transaction that takes place between two businesses such as a wholesaler and retailer. The main point is that it refers to business conducted between two companies as opposed to a company and individual customer. On the other hand, references made regarding business done between a company and customer is referred to as B2C.

Bounce Rate

When a website bounce rate is mentioned, there is usually a reference made to the percentage of people who come on one of your pages and leave without navigating or clicking on any other page. This is important information for anyone with a website as it gives them an indication of how customers are interacting with their website and hints to what needs improving. High bounce rates usually lead to poor conversion rates as people aren’t staying on the site long enough.