Three Business Marketing Terms You Need To Know
Do lead generation, content marketing, and conversion rate sound familiar but you are not quite clear on what they all mean?
They are all terms that many entrepreneurs don’t know in detail or even at all. However, they are terms that every business owner needs to not only understand but to put into practice within their marketing strategy to increase their brand awareness.
These three terms are shared below in the formula that they are used in a marketing strategy.
Lead Generation
When a company strategically produces activities that bring more exposure to a brand. This commonly includes blogging, social media marketing, paid advertising, PR campaigns, landing pages, and other forms of marketing.
This is often what entrepreneurs have top of mind when they are mapping out their marketing strategies in order to gain brand visibility.
Lead generation strategies can often offer quicker results for marketing campaigns when paid advertising is used.
Content Marketing
This is the process of creating inbound marketing content to attract potential customers and clients. Content marketing ties closely to lead generation. While the goal of lead generation is the heart of content marketing, it is content marketing that drives lead generation.
Content marketing includes creating blog posts, branded journalism, email marketing, webinars, workshops, digital downloads, and other tangible pieces of content that users see value in.
Another key difference between lead generation and content marketing is that lead generation often includes paid marketing strategies and content marketing is often provided to target audiences for free.
Conversion Rate
This is the next step in the marketing formula. Conversion rate is the percentage of users (such as email subscribers, readers on your website, and social media followers), who complete an action that leads to a deeper connection to your brand.
Those actions commonly include; opting in to an email newsletter, signing up for a free webinar, getting a free PDF download of a How-To Guide or infographic, or a free 15-minute discovery call.
The core goal is for those new business leads to become a part of a brand’s sales funnel.
When brands consistently reach out to those that are in their sales funnel with content marketing, then the potential for users to convert into paying customers increases.
A low conversion rate will ultimately equal poor sales performance.
For example, a high conversion rate for an email marketing newsletter is an 18% open rate and a 3% click-through rate (the rate that people click on outbound links found in an email).
It is always important to know your conversion rates in your marketing campaigns. That data serves as an important indicator of the effectiveness of your marketing efforts.
All in all, these three business marketing terms are worth applying to your business in order to strategically reach your target audience, build a relationship with them, and be positioned to make a sale.
Synture is committed to helping you scale your business, so we hope that this quick overview of lead generation, content marketing, and conversion rate was useful for you.
Let’s hear it from you! What are your thoughts and opinions on these business marketing terms?
By Darryl Sykes CEO of Synture.com
