During February 2020 I made an attempt to simplify some of the key terms used in marketing, using the alphabet as a daily guide.
Here is a reminder of the terms F to J if you missed them
The F is for freebies, fans and fun.
Definitely not the other F word you were thinking about.
If marketing makes you think about the other F word, please talk to me and I can fix it.
Using freebies can be a useful tool for some businesses.
Free trial periods or samples can help potential customers experience the process themselves and overcome any fears
Fans of your business are priceless
They will often refer you to others as well as leave rave reviews
Fun means different things to different people
While not a marketing term, having fun in your business is for me crucial.
I definitely have lots of fun developing and designing marketing plans
G is for gamification and guarantee.
One of the best examples of gamification for me is Vitality Rewards – encouraging fitness by giving you rewards.
Loyalty programmes are also a form of gamification. Collecting points or stamps to get that freebie.
I am naturally very competitive so I enjoy the ones that compare you to others like the WWF Carbon footprint comparison.
A guarantee is a commitment to your customer that you will deliver on your promise. Often phrased as a money back guarantee.
H is for Halo effect.
What is the Halo Effect? The unconscious positive bias a consumer may feel towards a given product/proposition because of wider perceptions of the brand.
In psychology this can be seen when a well dressed, handsome salesman is assumed to also be smart and good at their job versus a salesman who is in torn jeans and sneakers.
In marketing this can be achieved by focusing your marketing spend on a single product or service.
To cut through the clutter in today’s overcommunicated society, place your marketing budget on your best horse.
Then let that product or service serve as a ‘halo effect’ for the rest of the line.
Some companies have perfected this single-product strategy into a awesome marketing weapon.
Gillette, for example, generally puts all of it’s marketing behind its latest razor brand. However that particular razor will only account for on average 20% of sales. The halo effect will lead to increased sales across all its lines.
If the halo effect is used properly, it can help a company save money on marketing by using previous momentum to reach a target audience.
I is for Inbound marketing
Inbound marketing refers to marketing activities that draw visitors in, rather than marketers having to go out to get prospects’ attention.
It’s all about earning the attention of customers, by producing interesting, helpful content.
It’s not a silver bullet, quick fix, or fast track to easy sales.
By aligning the content you publish with your customer’s interests, you naturally attract inbound traffic that you can then convert, close, and delight over time.
The key word here is time.
Customers are all at different stages of their buyer journey – awareness, consideration or decision.
The purpose of an inbound marketing strategy is to be the first name that comes to mind when they reach the decision stage. Because they have seen your amazing content.
J is for Jingle
A jingle is a short, catchy song used in a radio or television commercial.
Jingles are a form of sound branding. They create memorability.
A good advertising jingle has the power to spark nostalgic feelings and get stuck in your head for days.
Two of my favourites:
McDonald’s “I’m Lovin’ It”
Kit Kat® “Give Me a Break”
Marketing does not need to be complicated but it does need to be structured and planned. Understanding the target client for your product or service is the first step in all marketing success.
Contact erica@themarketingdetectiveagency.com for a chat about your marketing efforts or any terms you need help simplifying.