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B2B Marketing Dictionary!
|A qualification methodology, or information that must be gathered or agreed to before passing a lead to sales. BANT is an age-old tradition that is coming back in vogue (big-time). Note to self: BANT is not something you achieve in lead generation (don’t put timeframe on forms) but in lead qualification.||Original entry|
|Buyer engagement||Your goal anytime a buyer comes into contact with you. To get their full attention and immerse them into a brand experience, make sure everything you do is valuable and differentiated. (@cjablonski)||Original entry|
|Campaign Sorcerer||Describes a marketer who can quickly articulate and illustrate campaign concepts with a unique and integrated skill set that includes design aesthetics, copywriting/storyboarding, program logistics, and schedule visualization. A Powerpoint/Keynote Magic User proficient in spell-casting with SnagIt and Photoshop. (@TLOTL)||Original entry|
|Cold calling||I really have no idea why I put this on here. It’s pretty simple: You pick up the phone and call someone who has no idea you are calling. In today’s day and age, this is best left to professionals — a.k.a., outsourced.||Original entry|
|Contacts||Just names. The contact movement has been brought upon us by breakthrough companies such as Jigsaw (editor’s note: Jigsaw is now Data.com, a division of Salesforce.com), demandbase and NetProspex. These are not leads, even if these companies market them as such. Contact purchasing is a critical component to push marketing.||Original entry|
|Content marketing||An Internet-spawned phenomenon embraced by B2B marketers. It has unleashed a torrent of information intended to build vendor thought leadership by way of educating the customer until sold on the brand. See @cjablonski.||Original entry|
|Conversion chain||I just made that up in the previous definition, so I figured I would make a definition. The conversion chain is your series of conversion points you track from the top (e.g., Google, white paper syndication) to close. That’s a cool term. If it catches on, you heard it here first.||Original entry|
|Conversion rate||The rate at which a prospect advances in your marketing process. I included this because everyone assumes conversion rate means landing page conversion. That is not true. Conversion rates happen across the life of a lead. Traffic to registration conversion, registration to lead conversion, lead to opportunity conversion, opportunity to sale conversion. Conversions happen all day in your process (I hope). Track them and watch them.||Original entry|
|Demand generation||All the activities designed to create demand. Not just lead generation, which is part of it. Everything — including things like PR, speaking engagements, advertising, discounts or special offers and so on and so on. BTW, this is an interesting point of conversation — check out some of the answers to this on Focus.com.||Original entry|
|Direct mail||The act of sending a marketing offer via the U.S. Postal Service, FedEx, and so on. This is a dying lead-generation tool. NOTE: there are marketers who believe direct mail still works despite the cost and low conversion rates. My suggestion is that, if you don’t do it now, don’t start.||Original entry|
|Funnel jockey||The demand-generation expert in every successful marketing department who understands his or her funnel well enough to hard-wire the entire revenue manufacturing process, from marketing spend, to lead gen, to pipeline creation and booked revenue. This person is one of the Excel users in the marketing department who is most likely to have a working command of functions like VLOOKUP, GETPIVOTDATA, SUMPRODUCT, and RAND. (@TLOTL)||Original entry|
|Landing page||A Web page with a call-to-action to download an offer, such as a webinar, a white paper, and so on. In order to download the offer, the user has to fill out a form. (@cjablonski)||Original entry|
|Lead generation||Activities designed to create leads.||Original entry|
|Lead nurturing||A process that uses content (offers, tools, white papers, etc.) and distribution tactics (email, phone, Web, etc.) to market to leads over time until they are measurably ready to engage. This one was hard. I got some terrific definitions from experts on Focus.com.||Original entry|
|Lead qualification||People (with headsets), automation (CRM and marketing automation – yes, marketing automation) and process dedicated to contacting leads and qualifying them before passing them to sales. If you actually generate leads, you should do this. (See every other post on the Funnelholic.com). People can build this process for you like @bridgegroupinc or Stu Silverman (SalesRamp), or you can outsource qualification (numerous folks, I can’t even mention). Look, this is “old school” stuff, but it works. I sell leads, and what we’ve seen from our data is that companies with lead-qualification (and lead-nurturing) processes convert better than anyone else and, ultimately, buy more leads.||Original entry|
|Lead scoring||Seriously, make it simple. the process of determining which leads are better than others. Don’t make it bigger .than that. Use data you have now to start – this isn’t hard, then use marketing automation to implement, optimize and refine. Scoring seems so daunting, but it really isn’t when you finally tear down what it really is. The humans in your “conversion chain” score all the time in their head. They call certain leads more than others because they know they will convert.||Original entry|
|Leads||A lead is a person who has opted in for an offer. As mentioned above, a contact is not a lead.||Original entry|
|Live seminars||These can fall victim to the same symptoms as trade shows. The time commitment to travel ratio is minimized and the focus (not trying to be something for everyone) is compelling.||Original entry|
|Lunch and learns||These are the same as live seminars but are shorter and with less content. Lunch and learns are small local, lunch events typically put on by vendors. They get 10 people, so the ROI is debatable.||Original entry|
|Market whisperer||The agency-side marketer who can, in 30 minutes or less, figure out the essence of a client’s marketing and sales challenges, with minimal to no briefing from said client, consulting only Twitter, Google, WordPress and Michael Porter’s Five Forces model. This marketer is more likely than his or her peers to get away with wearing ironic tee shirts or quirky, comment-worthy eyewear/accessories. (@TLOTL)||Original entry|
|Marketing automation||This is an emerging software category offered by a plethora of vendors intended to consolidate, systematize and improve your marketing efforts. For some it’s nothing more than an email tool on steroids; for others, it’s delivering on the promise. Check out @cjablonski for more.||Original entry|
|Marketing hipster or hipster marketing||The new bleeding-edge marketer. One of the first terms I’ve made up for this blog post but that I like a lot. If you’re doing some of the activities I’ve described below, you are a marketing hipster.||Original entry|
|Mass expertization||A rapidly growing population of people, typically with commercial or status-driven agendas, publishing original content drawn from their experience, for the consumption of peers and/or prospective business partners. See @TLOTL.||Original entry|
|Maven||Two years ago, I admit I had to look this one up. Here is the best technical definition: “A maven is a trusted expert in a particular field, who seeks to pass knowledge on to others. The word maven comes from the Hebrew, via Yiddish, and means one who understands, based on an accumulation of knowledge.” A number of factors have made the role of the maven uber-critical in your life:a. The role of third-party/thought leadership content in effective marketing practice. In other words, take a look around and you will find the best marketers incorporating the work of thought leaders and mavens instead of product sheets and data sheets.b. Social media: the maven has gone from obscurity (only writing books and speaking at seminars) to global popularity with social media (Twitter in particular) and blogging. When I am doing research in my field, I go to my favorite mavens such as @ardath421 or @brianjcarroll in marketing (there are more obviously, but I need to restrain myself)||Original entry|
|Maven marketing||I just made this phrase up too, and I’m hoping it sticks. Today’s marketer does two things with mavens:
a. Courts and/or works with mavens to create helpful buyer materials that don’t necessarily ever mention their product – that’s right. Mavens get more downloads than you and are TRUSTED. Today’s buyer trusts two people: their peers and their mavens. Those two groups far outweigh the vendor.:
b. Creates mavens from their organization. Here’s one for all those people with social media budgets. Start by creating an internal maven. Here’s an example from the marketing industry: Mike Volpe (@mvolpe), VP at Hubspot, has 15,872 people who follow his every move on Twitter. They read him, respect him and re-Tweet him. That’s hipster marketing.
|Memeager||Here’s the deal: if you’re going to be an Internet Big Timer, you’re gonna need a meme. Perhaps it will be a baby dancing to a pop song, or a teenage music sensation, or a terribly translated Japanese video game from the 80s. But you don’t have the first idea how to generate a meme, much less make it go “viral.” So you hire a “meme manager,” or memeager. This Internet Superstar Dee-jay can drive you on a magic bus of brand engagement from Auckland to Zanzibar.||John Goodmanson|
|Metrics||Numbers generated via reporting that tell you something about your current processes. Yes, it can be called reporting or just “numbers,” but remember you want to be a b2b marketing hipster, so use the word metrics. Here’s a tip: Choose three metrics to look at every day. Look at the rest once a week.||Original entry|
|Micro-marketed content||The opposite of mass-marketed content. An unmediated, free-flowing discussion among genuine experts in a niche category (e.g., this discussion on Focus.com) is often more relevant and helpful to buyers than a banner ad or an industry trade publication. (@TLOTL)||Original entry|
|MQL (Marketing qualified lead)||Prospects defined by your marketing and sales organization as someone ready to pass to sales. They’re instrumental in calculating lead gen metrics, such as marketing qualified lead rate (# of MQLs/# of total marketing contacts).||Original entry|
|Multi-channel, multi-touch||The mantra of any successful pipeline/revenue generation program. Email, Web and phone are all integrated and response-measured (scored) using marketing automation services. (@TLOTL)||Original entry|
|Offer||An offer can be defined as “something” someone has opted-in for. These can be discrete offers such as white papers, webinars and podcasts. They can also be an appointment with a sales person.||Original entry|
|Optimization||Overused marketer term but critical nonetheless. Every element of your demand-generation process has hidden pockets of opportunity to improve. Don’t think so? Hire a consultant or design thinker to review your content and your strategy and listen in disbelief. See @cjablonski.||Original entry|
|Pay-per-lead lead generation or performance-based lead generation||This is how marketers roll today. If you haven’t jumped on the PPL bandwagon, you should. You can get performance lead generation from media companies (such as the one I work at, Tippit) where you provide some sort of content such as a white paper in exchange for registration information. The media company will determine the number of leads they will deliver and a price. You can control your CPL metrics and organize around particular quantity numbers. This is good for marketers. You can also do this with appointment-setting vendors such as Green Leads, a firm led by one of the most active mavens on the market @damphoux.||Original entry|
|Personal branding||This concept is not new, and not unique to marketing. But every marketer needs to understand it and practice it. Interacting with the world through a well-defined “brand of you” gives you a unique perspective on how people engage those other brands that you are paid to promote. See @TLOTL.||Original entry|
|Pipeline erosion rate||Your sales team converts your leads into pipeline deals. They win some, they lose some. Some deals roll into next month/quarter. Some don’t. The erosion rate measures the lost pipeline value that must be replaced through incremental demand-gen efforts and budget. (@TLOTL)||Original entry|
|Product myopia||Outdated marketing thinking still practiced by many who engage with prospects and clients through the lens of their own solutions. (@cjablonski)||Original entry|
|Pull marketing||As opposed to push marketing, “getting people to walk into your store.” Pull means you are using SEO, paid search, etc. to attract people who are searching for something you offer. It also includes getting people to look at your products in other stores through online media and white paper syndication, for example. Because not all buyers are walking into your store, you need to make sure you are represented in other stores that attract your type of buyer.||Original entry|
|Push marketing||“Knocking on someone’s door.” In other words, using outbound marketing tactics such as email, phone and direct mail to market to contacts in order to create leads. Examples are outsourced appointment setting and email campaigns to a list.||Original entry|
|Remarkable content||You need to develop this every day, and you know it’s remarkable if people can apply it right away. You need to deliver on three characteristics: 1) value: create substantive, meaningful and high-quality content and 2) efficiency: package for simplicity and ease of consumption; 3) relevance: target buyers and address their specific challenges. (@cjablonski)||Original entry|
|Return on contribution||Anyone who takes the time and energy to create remarkable content needs to also invest time in managing return on contribution. This can mean several things: 1) crowd-sourcing the content to leverage the friends and followers of the contributors for added distribution; 2) syndicating your content through targeted media properties; 3) engaging in online conversations where your content can be delivered in a relevant context ; and 4) leveraging your content across multiple campaigns, including lead-nurturing programs. (@TLOTL)||Original entry|
|Rotting lead rate||The percentage of leads that go untouched by sales (no email, call or voicemail) with an agreed timeframe (e.g. 1 business day), after which they begin to “rot.” Keep in mind that the goal is not necessarily a 0% “rot-rate.” In some cases, it’s totally ok for sales to let leads “rot.” If sales has warmer leads to work, marketing can take back the leads that would otherwise rot and nurture them until they are ready. (@TLOTL)||Original entry|
|SAL (Sales accepted lead)||A lead that has met the basic tenets of qualification and that sales has agreed to engage. (@cjablonski)||Original entry|
|Sales 2.0||I grabbed a technical definition from InsideCRM.com: “Sales 2.0 brings together customer-focused methodologies and productivity-enhancing technologies that transform selling from an art to a science. Sales 2.0 relies on a repeatable, collaborative and customer-enabled process that runs through the sales and marketing organization, resulting in improved productivity, predictable ROI and superior performance.” What matters to you is that there are killer tools that make sales better. An example is Connect and Sell which is a new-age auto-dialer that guarantees sales connects. Why does that matter to a marketer?
a. It’s a great tool for your lead-qualification team.
b. The biggest lag on your conversion rates come from sales connecting with your leads. Offering them tools to be more effective is a win for you. Period.
|Social media marketing||The marketing trend du jour with vendor outposts proliferating across social networking sites as they join communities and conversations in the effort to build awareness, drive sales and get people to talk about them. See @cjablonski.||Original entry|
|SQL (Sales qualified lead)||A prospect confirmed by sales as a true revenue opportunity and entered into the pipeline. (@cjablonski)||Original entry|
|Targeted email/email blast||Email is not for spam anymore. As marketers have gotten more sophisticated, they have gotten much better at outbound email. We have seen a big jump in email blasts to our database. You can blast to a third-party database (check out Marketfish for an amazing new targeted email application).||Original entry|
|The revenue/sausage factory||A sometimes useful metaphor for helping the uninitiated understand how the marketing and sales team work together to drive the top line. The factory can include “upstream” suppliers like Google, direct mail programs or demand-gen agencies. And it can also encompass post-sales “revenue recognition” functions like professional services and account management. (@TLOTL)||Original entry|
|The three legged stool||In direct marketing, results are usually, ultimately, a function of the:
List (or audience)
Underperform in any one of these areas and the stool falls over. (@TLOTL)
|Thought leadership||In a world full of information and “me-too” solutions, you need to differentiate and boost your signal-to-noise ratio through the delivery of expertise and original knowledge that your audience cares about. Tap your mavens for this. See @cjablonski.||Original entry|
|Trade show||Ah, the trade show. Let’s define a tradeshow as a broad industry event (e.g., Interop for IT), with a variety of different talk tracks, trade show booths, etc. Trade shows aren’t dying, they are just never going to be the same again. In ancient times, there were lots of tradeshows with lots of people and lots of vendors. Those days are gone. The trade shows that work are
a. Raging parties: CES
b. Real education value: Sirius Decisions in marketing is a perfect example. They really focus on the content instead of pretending to help buyers, but peddling their own goods.
|Trapping the chicken in the courtyard||A semi-obscure “Rocky II” reference/metaphor describing the relentless and often frustrating pursuit of repeatable marketing and sales success. “I feel like a Kentucky Fried idiot.” — Rocky Balboa (@TLOTL)||Original entry|
|Tweeps||Twitter + Peeps = Tweeps. (@TLOTL)||Original entry|
|Webcast, Webinar or Web Seminar||A webcast is a presentation delivered over the Internet so that prospects can watch instead of read. Webcasts are typically an hour long and involve a PowerPoint presentation. Webcasts should not be confused with video. Yes, you can use video, but that is not your typical use-case for a webcast. Webcasts are great vehicles for education, lead nurturing, thought leadership and quantifiable lead generation.||Original entry|
|White paper syndication||Your marketing assets reside on your Web site, but you can get a lot more mileage out of them if you make them available from relevant sites across the internet. Vendors like Tippit can get your content into the right hands to help spread your message and build the top of your funnel. See @cjablonski.||Original entry|
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The original 53 entries in this dictionary were published as The Marketing Hipster Dictionary on the blog of Craig Rosenberg, aka The Funnelholic. TFG founder Tom Scearce contributed some of the entries, as did Chris Jablonski. Tom asked Craig for permission to use the original 53, and Craig graciously obliged.