Lingo live product lead12/14/2023 ![]() Refers to software that helps you organize your marketing activity. Short for Customer Relationship Management. Percentage of people who take a desired action (usually on your website). Short for Content Management System and refers to a program (usually software) that manages all aspects of creating digital content. 35) CTRĬlick Through Rate tells you how many people are moving through your website toward purchasing your product or service. How often people visit your website and leave without clicking on anything. 33) BrandĪ product, identity, or image that generates awareness and separates your business from others. 32) Analyticsĭata from a variety of sources used to inform marketing efforts. Testing two versions (an A version and a B version) to see which one performs better. 29) Inbound Marketingĭigital (i.e., internet-based) marketing that includes podcasts, video, email broadcasts, social media, ebooks, and SEO. 28) Market PenetrationĪ measure of the extent of a product’s sales volume relative to the total sales volume of all competing products. The action or activity of gathering information about consumers’ needs and preferences so you can provide just the right product or service. The action or business of promoting and selling products or services. ![]() 25) Niche MarketĪ very specific segment of a larger market. 24) Core CompetencyĪ core competency is a defining capability or advantage that distinguishes you from your competitors.ĪDD_THIS_TEXT Sales & Marketing Business Terms 25) Unique Selling PropositionĪ specific factor that differentiates your product or service from your direct competitor (e.g., cost, quality, added use). This term refers to a website that changes based on the type of device (tablet, phone, laptop, desktop) used to view it. Short for business-to-government and describes transactions with government entities. Short for business-to-consumer and describes transactions with individual consumers. 19) B2Bī2B is short for business-to-business and describes a business transaction with another business. During the performance review, the manager provides feedback and helps the employee see how they can improve. 17) Performance ReviewĪ performance review is a process by which a manager evaluates each member of his or her team. 16) MetricsĪny quantifiable (countable) measurement your business uses to assess performance. KPIs are usually numbers that tell you how effective your business is in a specific area. KPI is an acronym that stands for Key Performance Indicators. SWOT is an acronym that refers to a form of analysis that examines your: The process by which you measure various aspects of your systems (e.g., speed, efficiency, cost, amount of product). Net refers to the amount or quantity AFTER deductions or expenses. Gross refers to the total amount or quantity BEFORE deductions or expenses. Variable costs are expenses that fluctuate based on your volume of business. Expenses such as utilities, rent, and employee salaries are considered fixed costs. 9) Fixed CostsĬosts you must pay whether your business is doing well or not. 8) CapitalĬapital often refers to money, but it can also be used to refer to everything your business owns and uses to function (e.g., equipment, vehicles, buildings, land, etc.). ![]() 7) Accounts ReceivableĪ record of the money that other people and businesses owe to you. 6) Accounts PayableĪ record of the money you owe to the people and businesses that helped you create your product or service. ![]() Profit from a product or service after all expenses have been covered. 4) DeliverableĪ product or service developed by a business. ![]() Provide an incentive (a motivation) for using a product or service. Return on investment (ROI) refers to all the benefits - monetary or otherwise - received from an investment. To help you get familiar with this specialized language, the management experts at Sling have created a list of the 70 business terms every manager needs to know. ![]()
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