There’s no denying that many businesses hate the expression “buzzword”; people hear the term and tend to associate it with meaningless jargon, the kind of spin that marketing gurus use on naïve customers. But the fact is, buzzwords exist for a reason – in the world of digital marketing, buzzwords become popular because they are effective strategies that can help businesses to grow their customer base.
With that in mind, we’ve compiled a list of 12 digital marketing buzzwords that you need to be familiar with; in a world that is moving constantly with digital trends, they could make or break your business.
1. Attribution: A proper understanding of attribution will help your business to make sure the marketing budget is being used for maximum effectiveness. Basically, attribution is determining which marketing channels are driving your business’ return on marketing investment (ROI). It will help you to see if you’re spending 50% of the advertising budget on a form of marketing that is only bringing in 4% of your ROI.
2. Marketing Automation: Countless businesses are wasting valuable time carrying out tasks that could be done automatically. For example, you may regularly mark quotes as ‘sent’ and then manually set a calendar alert reminding you to type up a follow-up email in 3 days’ time. With marketing automation, all you have to do is mark the quote as ‘sent’; in 3 days’ time, the program will send the email for you, personalised with all of the relevant client information.
3. Smart Content: Some businesses still haven’t realised there is a big difference between content and smart content. Customers want a personalised experience that is tailored to their needs, not just reams of irrelevant information. If you’re sending out an email, is it an impersonal and generic blast to everyone in your database? Or does it include the customer’s name, along with information that is relevant to what they’re interested in and where they are located?
4. Customer Journey: Many people fail to appreciate that the path to purchasing a product or service can be rather long and convoluted. Rarely will someone decide to buy an item from the first relevant business they come across online. Understanding this journey, and then customising your advertising strategies accordingly, can have a huge impact on your sale conversions.
5. Omnichannel: Customers will generally have multiple interactions with a business pre-purchase, such as browsing their website on a laptop, viewing their social media pages on a smartphone, navigating their product apps on a tablet, and visiting a physical store in person. Each of these interactions (which make up the omnichannel) should be complementary and convey the same message and tone.
6. Micro-Moments: Take a minute to think about how many times throughout the day you search for information online: a phone number, a location, a definition, an explanation. These are micro-moments; points throughout the day where you briefly stop what you’re doing to search for something. A business with a clear understanding of micro-moments will make finding the answers quick, easy and consistent, helping your customers in a myriad of small ways that build trust and confidence.
7. Disruptive Innovation: A brilliant marketing strategy successfully employed by companies like Netflix, disruptive innovation involves a thorough analysis of existing business models and the identification of areas that have been overlooked. By offering niche products or services at a low price to a specific demographic, companies can create a groundswell of popularity that takes their competitors by surprise. Over time, the product or service becomes mainstream, leaving the big competitors scrambling to catch up or risk being left behind (as in the case of Netflix vs Blockbuster). Click here for some great examples.
8. Geofencing: Geofencing is particularly important if you are a local business that does not offer products or services nationally or internationally. Rather than marketing your business to people that live far outside your service area, geofencing allows you to target specific locations with your digital marketing (a bit like circling a service area on a map).
9. Hyperlocal: In today’s online world, it is easy to get a list of every plumber, hairdresser, butcher or accountant within a 300 km radius. But, by and large, consumers like to shop locally. Hyperlocal marketing means that when someone in your area is searching for the products or services that you offer, then your company will show up as a local business.
10. Algorithm: What is an algorithm? In layman’s terms, it is a formula used by online companies to determine content. For example, Google uses algorithms to decide what order businesses and web pages should be listed in. Why is this important? Because if you understand the algorithms being used then you can tailor your online marketing, so it is more likely to be seen by the relevant people.
11. SEO: Understanding ‘Search Engine Optimisation’ goes hand-in-hand with appreciating Google algorithms. It involves using specific keywords, phrases and meta-tags so that your website will rank higher on Google searches performed by your target audience. It’s not just about achieving a high ranking in Google searches, but about ranking in relevant Google searches.
12. AI: Artificial intelligence is exactly what it sounds like – using algorithms and programs in place of human input. Playing a huge part in digital marketing, AI quickly and efficiently calculates who should be seeing your online ad listings in their newsfeed or search listings, based on their previous browsing patterns. It is another way of lining up your business with the people who are most likely to want your products or services. Check out RankBrain as a great example of AI.
The world of marketing has never been evolving faster than it is today. But with a clear understanding and the successful implementation of these buzzwords, your business can continue to grow and thrive.
