A-Z of B2B Marketing Terminology
You’ve seen a million and one blog posts on marketing terminology and business jargon, but here, we’re kicking it up a notch. Here is your guide to advanced B2B marketing terms.
This may be one of the biggest buzzwords in business and marketing right now, and it is expected to play a huge role in our daily professional lives. To many biz folks, AI is anything “intelligent” that software or hardware can do… but here’s the real truth: Artificial Intelligence is only Artificial Intelligence if a machine can make a decision and an action that a human would make. So it’s not just AI if you get an alert about something, it’s AI if you get an alert and the machine makes the intelligent decision to optimize.
Blockchain has a lot of tech marketers scratching their heads on how it will actually impact their business. Really, all blockchain is is a safer, smarter process of transmitting data. Think of it like a checks and balances of transferring information. Each block connects to another block (making a chain) and if the information in one block changes, it affects the entire chain and creates a log of the changes. This way, if data in manipulated, there is a clear and traceable record.
Chatbots or Conversational Marketing
Sending mail via the Pony Express is no longer efficient, nor is traditional outward/push communication like blanket prospecting emails. Customers and businesses now both have the power and the tools to communicate directly. Chatbots on your website and enabling and encouraging chat functions on Facebook messenger are the first steps in opening the door for two-way communications. The goal is to reduce friction and make it easier for prospects to interact with and gain information from your brand.
These are the tasks that need to get done…usually in order to move on to the next thing. While this term isn’t new, it is important to keep timeliness at front of mind. As you work with your internal and external teams, know that in order for projects to be completed on time (and within budget) everyone must be crossing these items off their list and communicating accordingly.
Content creation can be a huge weight on you and your marketing team. As an agency, we typically see this as being the biggest holdup in getting things done. If you’re on a one- or two-person marketing team, it can be challenging to constantly be cranking out content. This is why evergreen content should be your best friend. Choose a handful of topics and slate them into your content calendar regularly. Evergreen content can be repurposed periodically too! Saving you time and energy.
Unless you’ve been living in a cave void of any marketing updates, the flywheel is the new funnel. The way prospects make decisions has changed (thanks, smartphones and the Internet). This revised model accounts for these changes, and builds Word-of-Mouth and customer satisfaction into the process…which is how it should work anyway, right?
As of May 25, 2018, the European Union officially implemented the General Data Protection Regulation law requiring additional transparency for any business with communicating with those in Europe. If you work anywhere else in the world, you may think you’re off the hook…however, many businesses added the necessary features to their website simply to CYA. And it can’t hurt to be protected, right? This new regulation essentially requires businesses to indicate how they will use and store visitors data. It requires gaining permission to use and store data, and also gives people the right to request their data be deleted or provided. Not sure if your business is compliant? Here’s your checklist.
Not just reserved for the millenials and B2C businesses, hashtags… when used appropriately… can be and should be used in B2B communications. Use hashtags to reach networks you may not have a direct connection to yet. For example, let’s say you have a time tracking platform for mid-sized businesses, and you have a free resource you’re featuring in a blog post. When you go to post, consider using hashtags like #MotivationMonday or something industry specific. Even better, if you’re attending a conference of event, be sure to use the event hashtag on everything you post. Make sure you do your research though! This will amplify your reach and tap into potential net-new prospects. Check out these simple rules for using B2B hashtags.
Another old school term that needs to be brought up to the top of your pocket dictionary… Integrated Marketing basically means that a business is providing a seamless, strategic messaging experience throughout their buyer’s journey. From everything from your advertisements to your landing pages to your email communications should all be a part of the same overarching plan. Nothing says unorganized more than mismatched or thrown together materials or confusing copy.
Joint Branding Programs or Co-Branding
Teaming up with partners to create co-branded resources as part of a Joint Branding Program can be an effective way to build brand equity and bolster your authority. Leveraging a partnership demonstrates power behind your brand, especially if you are a small to midsize tech company.
Of course we are going to plug ourselves for a quick second! Kiwi Creative is the go-to creative marketing agency for B2B tech marketers who want to get shit done. We’re small, nimble, and we move like lightning. If you want to cross off the things on your marketing to-do list, you can set up a chat with us here.
Translation… this is the ratio of your Lifetime Value to your Customer Acquisition Cost. It’s an important metric because it says how many times over would the LTV pay for the cost of acquiring a new customer. Hopefully the LTV is greater than the CAC. As you are probably familiar, customer acquisition costs can range from pennies on PPC to hundreds or thousands of dollars on traditional mediums. If you are already looking at LTV and CAC separately, try dividing the LTV by the CAC.
Mobile Friendly (not just responsive)
It’s one thing to have your website optimized for mobile (where it adjusts when the width of the screen changes) and another to have it mobile friendly. A mobile friendly site is one that has a specific style sheet for content when served up on a mobile device. Can you believe that now, more than HALF of website traffic worldwide is mobile!? And user experience is paramount. Consider creating a mobile friendly website to improve your prospects experience.
If you haven’t already, consider putting together a Net Promoter Score Survey. This simple survey asks current customers how likely they are to recommend your services to a friend or colleague, on a scale of 0-10. Anyone who selects 6 or below is detracting from your brand, responses indicating 7-8 are neutral but not helping your brand, and 9-10 scores indicate positive promotion. The data gathered from this kind of survey is primarily for internal review, but can be used to identify weaknesses in your current operations. You can always (and you should) follow up with unsatisfied customers.
Closely related to your Integrated Marketing plan which concerns connected messaging, Omnichannel refers to the placement of your touchpoints and the necessity to have multiple opportunities for conversions. The traditional, linear transfer of prospects in the awareness to consideration to decision stage is long-gone. Today, prospects are continually being hit with messages, and as B2B marketers, we need to lessen the friction and facilitate decision-making.
Qualified Leads (vs. vanity metrics)
Marketers are always getting smarter, as they have to…the landscape is constantly changing! And with that, the metrics that are used to measure success continue to get more and more refined. Vanity metrics are often substituted when there is a lack of understanding of what’s working, and it’s usually called “directional”. But as our tools get smarter and AI provides more robust insights to the touchpoints of marketing campaigns, it is vital to get more specific in defining quality leads from “meh” leads. If you are just tracking traffic and clicks, dig deeper into your data for which of those leads are most valuable and worth pursuing.
Sales Enablement (aka Smarketing)
Did you know that 30% of tech marketers still don’t know what Sales Enablement is? Yet, 30% of tech marketers say their top marketing focus for 2019 is to improve the flow of leads from marketing to sales. We’re scratching our heads too. Sales Enablement is exactly that. Processes and tools that facilitate the transfer of leads from marketing to sales.
You don’t have to be an Instagram influencer to have a “tribe”. Your tribe is the modern-day word for your following. The people who drink your Kool-Aid and care about what you have to say. B2B marketers have more tools than ever for finding their tribe. Follow hashtags on LinkedIn, join a Facebook group in your niche and contribute to the thread, or attend local events to network with prospects and like-minded people.
User Generated Content
This is the secret to getting your following–your tribe–to co-create and engage with your brand. User Generated Content or UGC is when you build a campaign that directly invites customers to organically post about your business, products or services. This isn’t limited to product-talk though. Maybe you want to encourage customers to voice a cause while simultaneous mentioning your brand.
Marketers have been talking about video marketing for years, and 2019 will be the year you will be left in the dust (and lose market share) if you are not creating video content. Note: Video marketing is NOT rocket science and you don’t need a fancy studio to get started. Chances are you have a professional grade camera that shoots in 4k in your pocket. Use it, or hire somebody.
Many tech marketers are adding hosted webinars to their arsenal of lead gen content. It’s an easy way to share your company’s thought leadership and snag email addresses of potential prospects in the process. These can easily be accomplished by pre-recording a presentation and repurposing over time. Or, if you have an ultra-charismatic rockstar in the office, host regular, live webinars.
You know a sitemap is important for SEO, but should you use an XML sitemap or an HTML sitemap? “The simplest explanation is that XML is primarily for the search engines while HTML is written for the users” according to SEOblog. This means that in order to appeal to both the users and the spiders, you should have both.
It’s hard to avoid the “me-me-me” dialogue, but in business, sales and marketing communication, it’s the kiss of death. The You-Orientation puts the reader (cough cough, prospect) in the spotlight. We know you want to tell your audience you have the biggest, baddest, SaaSiest product out there, but they will tune you out if they are not put in the right mindset when reading your emails or seeing your ads. Even your CTAs should echo to the effect of “Download My Checklist” or “Reserve Your Seat Now”.
The generation that comprises your interns and entry-level positions. News flash, Millennials are now in middle-management positions and carry mortgages and have children. Generation Z’s are your newest co-workers. While they mirror some traits of Millennials like being digital natives and expecting a healthy work-life balance, Gen Zers are more competitive and prefer to work independently. Get to know these new youngsters.
Easy as 1, 2, 3
Are you up to date on your B2B marketing vocabulary? The tech marketing lingo is ever changing, so it’s invaluable to be in the know on the latest.