Behavior-based marketing automation: A system that triggers emails and other communications based on user activity on and off your site. It enables marketers to nurture leads and send them information only when it is most relevant to their stage in the buying cycle.
Lead segmentation: The act of subdividing contacts into groups with similar characteristics or interests, who are likely to exhibit similar purchase behavior, in order to efficiently find the right audience for an upcoming marketing campaign.
Closed-loop marketing: The practice of closed-loop marketing is being able to execute, track and show how marketing efforts have impacted bottom-line business growth. An example would be tracking a website visitor as they become a lead to the very last touch point when they close as a customer.
Inbound methodology: This methodology takes into account both the goals of the buyer and the company and is a map for aligning those goals. The inbound methodology completes this by helping marketers know which kinds of content are right for buyers in each stage of the sales funnel.
Marketing automation: Refers to the software that exists with the goal of automating marketing actions. Many marketing departments use it to automate repetitive tasks such as emails, social media, and other website actions.
Marketing Qualified Lead (MQL): A lead that shows interest through interaction via an email signup or contact form. MQL’s usually need to be researched further to see if they are a real prospect and converted into a Sales Qualified Lead (SQL).
Sales funnel: A visual representation of the journey that buyers take from strangers to customers and evangelists of your company used to categorize contacts. The top of the funnel represents people who are farther away from buying (strangers, visitors, subscribers) and the bottom of the funnel represents people who are closer to buying (SQL‘s, Opportunities, Customers, Evangelists).
Return on Investment (ROI): A performance measure used to evaluate the efficiency and profitability of an investment, or to compare the efficiency and profitability of multiple investments. The formula for ROI is: (Gain from Investment minus Cost of Investment), all divided by (Cost of Investment).
Account-Based Marketing (ABM): A framework focused on targeting specific accounts or account segments, usually by purchase history, firmographics, product need, or strategic value. The objective of ABM is to add new accounts or increase revenue per existing account rather than focus on individual leads.
Advocate Marketing: The combination of customer service and marketing to have customers satisfied. A satisfied customer is rewarded for the advocacy they perform for the company.
B2B: Business-to-business; the exchange of products, services or information between businesses.
Churn Rate: A metric that measures how many customers you retain and at what value. To calculate churn rate, take the number of customers you lost during a certain time frame, and divide that by the total number of customers you had at the very beginning of that time frame.
Campaign: A way of organizing marketing efforts. Often B2B marketers will use some combination of marketing tools (webinars, ebooks, white papers, press releases, events, keywords, blogs, keywords, social media messages, and buyer personas) for one unified purpose. All the tools that are used for the one purpose are categorized as a campaign.
Cost per customer acquisition (CAC): The price you pay to acquire a new customer. Calculated by dividing all the costs spent on acquiring more customers by the number of customers acquired in the period the money was spent.
Prospect: A person or account who shows interest in what you are selling. In most cases, they fits your target market and have the means to buy.
Sales Cycle: The process that companies undergo when selling a product to a customer. It encompasses all activities associated with closing sale.
Sales Qualified Lead (SQL): A lead that has been determined to have the ability to purchase your company’s products or services. A sales qualified lead is then passed from the marketing team to the sales team to hopefully be closed into a customer.
Small and Medium Sized Businesses (SMBs): Also called Small and Medium Sized Enterprises (SME’s), and refers to businesses with numbers between 1 and 999 employees. In general terms, a small business has less than 100 employees, while a medium business has between 100 and 999.
BOFU: The Bottom-of-Funnel is the stage of the buying process leads reach when they’re just about to close as new customers. They’ve identified a problem, have shopped around for possible solutions, and are very close to buying.
Buyer persona: A semi-fictional representation of your ideal customer based on market research and real data about your existing customers.
Landing page: A landing page is a website page containing a form that is used for lead generation. This page revolves around a marketing offer, such as an ebook or a webinar, and serves to capture visitor information in exchange for the valuable offer.
Marketing funnel: A visualization of a company’s process of generating, qualifying, and closing leads into customers. Typically consists of 3 stages: TOFU, MOFU, and BOFU.
MOFU: The Middle-of-Funnel stage. Offers in this stage are potentially the most important in the funnel, as they distinguish “good fit” leads and begin to pull them in. Prospects have moved on to determining the best solution for their problem, so you can now focus on why your company’s products/services are their best choice.
TOFU: The Top-of-Funnel stage. Prospects in this beginning stage are typically trying to solve a problem, and thus want to be educated and acquire relevant information to determine the best solution.
Workflow: Another way to describe a lead nurturing campaign. It’s a set of triggers and events that move a lead through the nurturing process. A workflow can also serve other purposes, such as adjust contact properties on a lead record based on certain conditions, or adding a contact record to a certain list.
Always Be Closing (ABC): A phrase used to remind sales to always look for new customers, pitch products or services to those individuals, and then complete the sale. ‘Always Be Closing’, as a strategy, is about the salesperson being persistent but also knowing when to cut losses.
BANT: Budget, Authority, Need, and Time. A method for qualifying both likely and desirable sales prospects, who should have the proper resources for your product/ service.
Lead scoring: Ranking prospects on a scale (based on attributes, behaviors, etc.) that represents their perceived value as a lead. The scores are used to prioritize the company’s engagement with the most valuable leads.
Pipeline Management: A cross-project management tool that systematically tracks open sales opportunities as they move through your sales process.
Lead fit: How well a particular buyer matches your brand’s ideal prospect, or usual buyer.
Customer Relationship Management (CRM): A set of software programs that let companies keep track of everything they do with their existing and potential customers.
Smarketing: A fun phrase used to refer to the practice of aligning Sales and Marketing efforts.
A/B Testing: The process of comparing two variations of a single variable to determine which performs best in order to help improve marketing efforts. This is often done in email marketing (with variations in the subject line or copy), calls-to-action (variations in colors or verbiage), and landing pages (variations in content).
Analytics: The discovery and communication of meaningful patterns in data. In marketing, it’s looking at the data of one’s initiatives (website visitor reports, social, email, etc.), analyzing the trends, and developing actionable insights to make better informed decisions.
Call-to-Action: A text link, button, image, or some type of web link that encourages a website visitor to visit a landing page and become a lead.
Content Management System (CMS): A web application designed to make it easy for non-technical users to create, edit, and manage a website.
Conversion Path: A conversion path is a series of website-based events that facilitate lead capture.
Conversion Rate Optimization (CRO): The process of improving your site conversion using design techniques, key optimization principles, and testing. It involves creating an experience for your website visitors that will convert them into customers.
CTR: Click-through rate; a percentage of how many users click on a link included in a webpage or email, whichprovides a way of measuring the success of the campaigns.
Friction: Any element of your website that is confusing, distracting, or causes stress for visitors, causing them to leave your page.Mobile optimization: Designing and formatting your website so that it’s easy to read and navigate from a mobile device.