As a small business owner, marketing can be tough enough. Yet understanding common marketing terms and acronyms can be down right confusing. Here’s some questions you might be asking: So why do I need to know these marketing terms anyway? Can someone at least explain the common terms? When do I use them? What ones should I use for my small business?
The reason you need to know marketing terms as small business, is that as you work with a marketing expert or whether you do it yourself, you need to understand what they are talking about. This way, you don’t get caught in the myriad of marketing scams.
A Few Common Acronyms
SEO (search engine optimization) this is referring to the organic or unpaid search results on the web once settings are made on websites and typically submitted to Google Webmaster and Google My Business for ranking.
SEM (search engine marketing) is paid website traffic which happens when your business purchases ads through search engines like Google or Bing. It’s also known as paid searching. There are different types within this marketing tool. PPC (pay per click) or PPC ( pay per call) CPC ( cost per click)) and CPI ( cost per impression) All are performance based on a bidding system and you only pay for what is used. The most well know name is Google Adwords.
SSM ( social media marketing) This refers to marketing your products or services through your social media pages such as Facebook, LinkedIn, Twitter, YouTube, Instagram etc. Your social media strategy can be done in many ways; from simply making regular postings of words and media to paid advertising through these channels on a PPI (pay per impression) bases. You may see SMO ( social media optimization) that refers to the promotion of your website through social media channels.
EMA This is better known as email marketing or marketing automation. This type of marketing is still the most affordable and highly effective marketing tool. Email marketing starts with sign ups usually with a “carrot” to attract subscribers. This allows you regular sending of email campaigns to educate, inform and promote. Extending EMA to marketing automation allows trigger emails which are a series of emails sent over time, and include but are not limited to, birthday emails, abandoned shopping cart reminders, relevant or personalized customer emails based on website activity and so on.
Which and when do I use these?
When to use these online marketing tools depends on you business type and where you are in your online marketing journey. Having said that, it’s always a good idea to combine all online marketing channels for the best results.
If you are a new business or just built a new website, then you must make sure your business is found online by search engines like Google as a start. Using social media marketing for regular posting is free, but you may need a little push by using paid promotions to get known. Remember that likes and followers don’t bring in business, but they do provide a platform and audience to share your message.
Email marketing and using an attraction of a free offer, is highly affordable and effective marketing. If your business is online with a shopping cart for purchasing, then email marketing automation is a must to communication with your customers and encourage more sales. Start building your list of subscribers early in the game.
If you have the the budget, paying for online ads will give you the boost your website ranking needs rather than gradually getting found through Google searchers. Most small businesses don’t start here, but use these paid tools to boost existing sales.
The most important message is that you need a marketing plan in place to map out your strategy and set your marketing budget for your business type. Using an affordable and experienced marketing expert will provide better results with better return on investment.
What are your thoughts?