Marketing Terms Every Small Business Should Know
1. Brand Identity
The brand identity of a small business is the perception which they want customers to have about their company. A brand identity is developed using several components including logo, colours, fonts, tone etc.
2. Buyer Persona
Buyer personas are semi-fictional representations of your ideal customers. They include demographic, psychographic and behavioural information to help you segment your audience so you can tailor your marketing activities towards your them as different audiences have different interests and motivations. Buyer personas are usually created before developing a lead generation campaign. If you’re a small business or start-up, buyer personas are a must!
3. Content Marketing
Content marketing is a strategy which focuses on consistently creating and posting high-quality content which will attract, engage and convert a specific audience and drive profitable action. Many small businesses post regularly, but it’s important to ensure this content is consistent and highlights your brand identity.
4. Inbound Marketing
Inbound marketing is an approach focused on creating and distributing content to specific and targeted audiences to drive traffic to your website. As a small business, you might have heard this term and thought it sounded expensive or confusing – but don’t worry, an inbound marketing strategy can be easily implemented within a range of budgets!
5. Lead Generation (Lead Gen)
A lead is a person or company who has shown particular interest in your business. They may have filled out an enquiry form on your website, subscribed to your email list or downloaded one of your free eBooks. Generating leads is critical for small businesses to convert potential customers to closed deals.
You might hear the word “copy” floating around which is just another word for text-based content, usually for blog posts, websites, editorials etc. Copywriting is the act of creating this type of content and should always be consistent with your brand identity, and target your personas.
Remarketing is an approach which reconnects with previous visitors of your website. It allows you to position targeted ads to people who have visited your site as they browse online. Facebook Pixel is a free, effective tool for remarketing – you’d be surprised what can be achieved with a little bit of data!
8. Search Engine Optimisation (SEO)
SEO is the process of developing your website’s content to show up in browser searches. Whilst many small businesses do have a website, these are often not optimised to reach their customers. Search Engine Optimisation is a key part of your website strategy and should be discussed with your website designer as part of the overall project. If you’re not sure if your website is performing, a good place to start is Google Analytics.
9. Top of The Funnel (TOTF)
TOTF refers to prospective customers who are not yet familiar with your brand or business. Putting together a strategy to expand your reach and raise your brand awareness is essential. If you’re a small businesses looking to reach new customers, have a think about social media advertising, as part of your inbound marketing strategy.