Sales & marketing terms you need to know

Getting to grips with your sales and marketing, particularly if you’re a new or growing business and don’t have the time to focus on it, can be challenging.

It can be made worse when you try to put some proper time and effort into devising a sales and marketing plan, only to get overwhelmed by the sheer number of things to do.

And it can be even harder if you hear sales and marketing words and phrases that you don’t understand or think you know what they mean but aren’t sure why you should be doing them.

So, if you’re struggling to know the difference between CTAs and CTRs, are unsure if you’re a B2B or B2C brand, or just want a simple explainer about what SEO is, read on.

Here, we present our rundown of essential sales and marketing terms you need to know…

Call to Action (CTA)

A call to action is an image, button or piece of text that prompts visitors to your website to take a specific action.

Most websites and ecommerce platforms feature CTAs throughout, from simple ‘Click Here’ or ‘Find Out More’ instructions to take users to another part of the website to ‘Buy Now’ or ‘Order Here’ CTAs designed to secure a sale.

If you do business online, strong CTAs are a vital part of the customer experience (see below) you offer your website users and play a significant role in converting leads into sales and building your marketing pipeline.

 

Sales Engine Optimisation (SEO)

SEO is the process of improving the content, quality and usability of a website to build trust and credibility with the search engines to help improve the site’s search rankings and attract more ‘organic’ traffic.

The more visibility your pages have in search results, the more likely they are to capture attention and prompt people searching for the information they contain to click.

SEO involves a combination of creating keyword-rich, relevant and engaging content, optimised images and technical work to make the page load quicker and function smoother. If the search engines’ algorithms recognise the page as credible, engaging and easy to use, it will feature higher in the rankings.

 

Key Performance Indicator (KPI)

Key Performance Indicators, or KPIs, are quantifiable measures of performance over time for specific objectives.

They provide targets for teams to aim for, milestones to assess progress and insights to help business leaders make better decisions.

Every business should have KPIs at every level, from big, strategic KPIs relating to finance, sales and growth, to individual team KPIs relating to each department’s performance.

Staff can also be set personal KPIs to ensure everyone within your business is working towards the same big strategic picture and helping to move the business forward.

 

Clickthrough Rate (CTR)

A clickthrough rate is the ratio of users who click on a specific link to the number of total users who view a webpage, email or advert.

It is usually used to measure the success of digital marketing activities, such as landing pages and social media or email campaigns.

CTRs measure the ratio of ‘clicks to impressions’ of an online ad or marketing email. For example, if you sent 100 people a marketing email and 20 of them clicked the ‘Find out more’ button to go to your website or landing page, the campaign would have a 20% success rate.

 

Customer Experience (CX)

Customer experience relates to the overall perception your customers have of their experience with your business or brand. It comes about as the result of every interaction a customer has with your business, from visiting your website and engaging with you on social media to speaking with your customer service team, purchasing in-store and receiving the product or service they bought from you. Everything you do impacts your customer experience and influences your customers’ perception of your business.

An exceptional customer experience results in happier customers and increased loyalty which, in turn, leads to positive reviews, recommendations and better word of mouth marketing.

 

Customer Relationship Management (CRM)

CRM stands for Customer Relationship Management. A CRM system helps your business manage its customer data. CRM systems are designed to support a host of crucial business processes, including sales, marketing and business development, and provide real-time, evidence-based insights on a range of vital issues to help you improve the performance of your business.

You can also link your CRM to your social media platforms and other business applications to automate processes and improve communication with your clients, prospects, and team.

 

Business to Business (B2B)

Business to business, or B2B, relates to the target audience for your products and services. If you deal primarily with a business audience, then your operations are classified as B2B. B2B activities are usually defined as businesses that:

 

  • Source materials for their production process from another business
  • Need the services of another to support its operations
  • Resells goods and services produced by other businesses

 

Simply put, if you sell your products and services mainly to other businesses, then you’re a B2B company.

 

Business to Consumer (B2C)

In direct contrast to B2B, business to consumer or B2C is where a business sells its products and services direct to consumers, bypassing any third-party retailers, wholesalers, or other intermediary companies. Some examples of a B2C offering include:

 

  • Retailers, either online, like Amazon, or on the High Street, like John Lewis, Starbucks or McDonald’s
  • Online subscription services such as Spotify or Netflix
  • Intermediary service providers, like eBay, Google or Airbnb

 

Let Koa Consulting help you get to grips with your sales and marketing

If you’re a small business, it can be hard to know where to start when it comes to sales and marketing. With so much to think about and so many different terms and phrases to get your head around, it’s easy to get overwhelmed.

That’s where Koa Consulting can help.

Our expert team has many years’ experience designing implementing successful sales and marketing strategies for businesses of all sizes. We can also review your customer journey experience to help ensure you’re offering great service and providing long-term value to your clients, with a clear strategic plan to help you maximise your relationships and get more from your customers.

For a free consultation to discuss how we can help you grow your business naturally, get in touch today.