I have been successfully surviving around in this fathomless, convoluted, and Darwinian corporate world for 1825 days (that’s 5 years). I used to wonder that what it takes to slide out as a polished diamond in such a competitive landscape where creative and genius people exist in profuse. Luckily, I found out one of the enemies that handicaps one’s growth in the corporate grounds. It’s not the lack of expertise or determination, however, it’s ignorance.
Ignorance to certain terms leaves one speechless in those specific business settings that would have otherwise come out as life-up boosters for one’s career. For instance, during my early years in a web development company when I had just stepped into the world of digital marketing, my senior once called me, demonstrated a declining sales graph of an eCommerce website, and said - “Everything on our website is going great except the majority of customers bounces off from the bottom of the funnel.”
And in my mind, I was like - “oh okay, but can someone tell me what does the thing ‘bottom of the funnel’ actually is?”
I could have quenched his query pretty smartly if I had any idea about the term ‘bottom of the funnel’. Nonetheless, thanks to my ignorance of mainstream corporate terms, I unsurprisingly stood there in silence. And let me tell you this - in the corporate world, silence is more savage than unawareness. It can quietly, smoothly, and swiftly propel you on the bad side regardless of the fact that your share of guilty in the party was smallest of all.
So, no matter on which step of your career you are standing right now, leave no stone unturned to profoundly conquer the ‘essential corporate marketing terms’ before stepping up. And to you best, we are here to help. After a big-scale research, we were flourishingly able to cull out 100 terms which we’ll lay out in several distinct guides, so you don’t have to digest more than you can at one given day. Here’s the list:
1. A/B Testing
There are many intricate definitions of A/B testing but let me walk you through the easiest first - “It’s a process to find which approach brings better results among two.” For a chef, it could be testing the two different sauces he prepared for his signature hamburger recipe. In eCommerce businesses, analyzing two call-to-actions (of different themes and colors) and in email marketing, weeding out the copy with better performing subject lines, infographics, and content are fine examples of A/B Testing. We must put A/B testing on the pinnacle of a successful app's goal.
I am again going easy for this one - Analytics is the process of finding data that makes sense for future business decisions. In other words, you look at a gigantic accumulation of data to seek out if certain sets of data are suggesting a pattern, displaying current choices & trends, reflecting buying & decision making ways of customers, and anything actionable that could help in making a strategy for the future and improving sales. A comprehensive marketing strategy always includes good analytics as a core part.
3. API (Application Programming Interface)
‘Uber has infused the Google Map’s API in its app to display drivers and passengers live navigation.’ Got some idea here? An API is a software program which once incorporated with another app, allows interchanging & extracting definite text or visual information. Some widely popular APIs are Google Maps, Pay Pal, and Google Maps Geocoding, IBM Watson, FullContact, DropBox, Facebook, and Twitter.
The ‘A’s of our extensive corporate marketing list is hereby finished. There’s just three of them so you can learn them in a matter of minutes. Though, I suggest you write them somewhere with enough space to add the remaining 97 Corporate Marketing Terms Everyone Should Know - Part 2. Stay tuned.