Dictionary

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A/B Testing

A/B Testing

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A/B testing allows for comparing the performance of two versions of content and determining which one convinces visitors more. This process tests one version (A) against a variant (B) to assess which one is more effective based on your key metrics. Digital marketing professionals engaged in both B2B and B2C marketing have the following A/B testing options available: Website A/B testing (text, image, color palettes, "calls to action") which splits traffic between two versions, A and B. You monitor the actions of internet users to determine which version obtains the highest number of 1) conversions or 2) visitors who performed the action you expected from them. Email marketing A/B testing (subjects, images, calls to action) divides recipients into two segments to determine which version generates the best open rate. User behavior analysis allows seeing if the user is more interested in content chosen by editors or generated by an algorithm. Regardless of your objective, A/B testing enables you to offer the best possible customer experience (CX). Besides A/B tests, there are also A/B/N tests, where "N" stands for "unknown". An A/B/N test has more than two variants.

Aged Leads

Aged Leads

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Aged leads, broadly defined, are leads found online that are between one to three months old, extending to any lead that is older than "real-time." These leads were generated by a company in the past and continue to be sold, even if previously purchased by another agent or agency. In certain instances, aged leads might be as old as six months or more. The generation process for aged leads and real-time leads remains the same. The distinction lies in the fact that aged leads didn't convert for other agents initially. The potential buyer might have lost interest in the product, had an unfavorable interaction with another agent, or perhaps was just testing the waters without a serious intent to make a purchase. Regardless of the circumstance, these leads remain available, with the generating company offering them to other agents. It's worth noting that aged leads might have been exclusive initially when generated. However, now they are available for purchase by multiple agents and agencies, potentially leading to increased competition for a specific customer. This is under the assumption that the customer hasn't already engaged with another agent or retains interest in obtaining a policy.

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Call to Action (CTA)

Call to Action (CTA)

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This person then clicks on your call to action - an image, button, or hyperlink - which guides them to the next step.

CRM Addition

CRM Addition

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Once added to your CRM, the known contact can become a lead that can be engaged, scored, and segmented for different campaigns.

Cold Prospect

Cold Prospect

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A cold prospect (or suspect) is most often a potential customer met during a prospecting campaign conducted by the company. Previously, they had shown no interest in THE product, but upon encountering the offer, they acknowledge it and could be called upon to purchase the product at any time. In other words, the product's features interest them, even if the need is not urgent; they are in an attention phase.

Consumer Data

Consumer Data

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This includes demographic information, behavioral patterns, preferences, purchasing history, and interactions with brands. Analyzing consumer data helps in segmenting the audience and personalizing marketing efforts.

Campaign Performance Data

Campaign Performance Data

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Metrics and analytics related to the performance of marketing campaigns, such as engagement rates, click-through rates, conversion rates, and ROI, are essential for evaluating the success and optimizing future campaigns.

Customer Feedback and Satisfaction Data

Customer Feedback and Satisfaction Data

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This comprises reviews, surveys, and feedback collected from customers to gauge satisfaction and improve product/service offerings.

Compliance and Regulatory Data

Compliance and Regulatory Data

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Information regarding compliance with data protection laws and regulations, especially in digital marketing and data-driven campaigns.

Creative and Content Data

Creative and Content Data

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Analysis of how different creative elements and content resonate with the audience, including A/B testing results, content engagement metrics, and visual analytics.

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Data Collection

Data Collection

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To transform a lead from an anonymous person to a known contact, marketing professionals often use forms to collect personal information such as email addresses and names. Forms are usually hosted on landing pages, although they can technically be integrated anywhere on your website. Visitors on your landing page may need to fill out a form to access an offer or high-value content.

Digital Data

Digital Data

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Digital footprints like website analytics, social media interactions, and online advertising performance are critical for digital marketing strategies.

Data

Data

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In the realm of marketing, the term "data" encompasses a wide array of information that can be harnessed to understand market dynamics, consumer behavior, and the effectiveness of marketing strategies.

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Hot Prospect

Hot Prospect

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The hot prospect (a lead) that refers to a potential clientele. A lead most often represents a business contact. This should not be neglected in any case, as the lead represents the primary state of a customer. To this effect, all necessary means should be deployed to put the prospect at ease so that they make a choice that will suit you.

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Inbound Lead Generation

Inbound Lead Generation

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Inbound lead generation focuses on content marketing by concentrating on creating content and corresponding marketing campaigns capable of attracting anonymous site visitors and converting them into leads. This can include SEO strategies, content syndication programs, paid search, and paid/organic activities on social media to make your content visible to prospects.

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Lead Generation

Lead Generation

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Lead generation is the process of creating, retaining, tracking, and converting prospect interests. In the second stage of inbound marketing, the lead generation process takes place after attracting a group of anonymous visitors and when you are ready to convert them into leads, often referred to as Marketing Qualified Leads (MQL), so that your sales teams can take over. Although every marketing professional has their own processes and workflows, the process of digital lead generation shares some commonalities.

Landing Page

Landing Page

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The call to action redirects the person (or visitor) to a web resource or a landing page. Marketing professionals design their websites and landing pages to capture lead information. Depending on the lead automation platform you have, the information you collect can be used to create the lead in your CRM system, update a lead's score, trigger a series of retargeting actions, or integrate a contact into a specific marketing campaign.

Lead Scoring

Lead Scoring

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Lead scoring, one of the many lead management processes, is used to rank and prioritize leads based on their propensity to purchase.

Lead Nurturing

Lead Nurturing

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Lead nurturing is the process of developing and strengthening relationships with buyers/customers at each stage of the sales funnel. A successful lead nurturing program focuses its marketing and communication efforts on listening to the needs of known customers and contacts, then providing the necessary information and responses to build trust, increase brand visibility, and maintain the connection until they are ready to make a purchase. Since most newly generated leads do not immediately result in purchases, it is essential to maintain the relationship with a strategic lead scoring system. The more robust the lead scoring system, the better you can identify leads who are actively seeking to make a purchase.

Lead

Lead

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A prospect refers to a potential customer for a business in relation to an offer or a product. Therefore, the prospect is not yet a customer. The prospect has been identified or has shown interest to the business during the advertising or sales process. Upon discovering the prospect, that is, a person more or less interested in the offer, the business will need to undertake a sufficiently balanced sales follow-up based on their level of maturity in their decision-making process. The company has only one goal: to convert potential customers, the prospects, into actual customers for the business.

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Marketing Channels

Marketing Channels

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An anonymous person discovers your company through one of your marketing channels: your website, your blog, or your social networks.

Market Data

Market Data

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Information about market trends, competitor strategies, market share, and industry benchmarks falls under this category. It's crucial for understanding the market landscape and positioning the brand effectively.

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Outbound Lead Generation

Outbound Lead Generation

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Outbound lead generation is possible when the marketing and sales departments align to identify new leads to reach out to. Most advertisements (with the exception of targeted ads) fall under outbound lead generation, along with cold calling, email marketing, and strategic account marketing.

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Prospect Management

Prospect Management

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The set of processes you use to target and segment your contacts throughout their buying cycle and the workflows used to route them as new leads to the sales teams.

Predictive and Descriptive Analytics

Predictive and Descriptive Analytics

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Predictive analytics utilizes historical data to forecast future trends, while descriptive analytics provides insight into past performance.

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Real Time Leads

Real Time Leads

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In addition to purchasing aged leads, you have the option to acquire real-time leads. As suggested by the name, real-time leads are generated by companies on the spot, differing from aged leads which can range from several weeks to months old. Real-time leads are fresh, being only minutes to hours old. A real-time lead represents a potential customer who has recently provided their contact information for inquiries regarding a specific insurance product. This provides an opportunity to be among the initial agents to nurture this lead towards a successful sale. Essentially, real-time leads position you optimally to establish a relationship with the potential client and pitch your products. Contrastingly, aged leads generally come with a lower quality tag. By the time you reach out to them following their initial inquiry, a significant amount of time could have elapsed - possibly a few weeks to three to six months. This duration can lead to the prospect losing interest or securing a policy elsewhere. The timing and manner of acquisition of real-time leads usually result in a higher conversion rate compared to aged leads. They are more likely to engage when contacted since the products you are selling remain fresh in their minds. Therefore, they are more prepared and willing to explore their options and finalize a purchase, particularly if they find your offerings appealing.

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Sales Data

Sales Data

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Sales data like lead generation, conversion rates, and revenue metrics are intertwined with marketing efforts to understand the sales funnel and the effectiveness of marketing in driving sales.

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Technological Data

Technological Data

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Data related to the use of marketing technologies, tools, and platforms that help in automating and analyzing marketing processes.

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A written court order directing a person to take, or refrain from taking, a certain act.

Warm Prospect

Warm Prospect

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A warm prospect, on the other hand, is a potential customer who has expressed a need for a product. Unlike the cold prospect, the desire to purchase is much more urgent. For this reason, the warm prospect is a priority in terms of follow-up, as they are more likely to purchase the proposed product, but also may turn to the competition if time is wasted.

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