15 May

SEO, B2B, SMM and More Digital Marketing Terms You Should Get to Know

With the digital world booming today, your understanding of online marketing strategies can essentially make or break your business ventures. Practically every form of commerce has a corresponding (if not central) online presence nowadays, but the reality is, not all business owners are also digital marketing gurus.

The good news is, you don’t have to be a marketing whiz to operate a successful online presence for your business. Understanding the basics of digital campaigns will help you navigate your way through the web; and it all begins with knowing the lingo.

Digital Marketing Terms

The first step to tackling digital marketing is to learn the terminology behind it. There are a lot of various anagrams and terms out there that can be quite confusing – but they don’t have to be. Once you familiarize yourself with the lingo, you’re well on your way to improving your business’s online presence.

“The better you familiarize yourself, the easier it is to understand and speak discerningly, whether it’s within internal departments or the agency building your website.” – Forbes.com.

Acronyms

There seem to be no shortage of acronyms when it comes to digital marketing terminology. Consider it the shorthand of the day, or the texting lingo of the business world. However, you look at it, acronyms are here to stay, so it’s best to get familiar with them – at least, the most widely used phrases.

Some of the acronyms should be fairly understandable once you learn what they represent. In fact, many of them are just abbreviations of common business terms you likely are already familiar with.

Most Common Acronyms

Here is a look at some of the most common acronyms used in digital marketing today, along with a brief description of their meaning:

  • B2B: Business to Business, or commercial operations
  • B2C: Business to Consumer, or traditional operations
  • SEO: Search Engine Optimization, or knowing how to drive customers to your site
  • SMM: Social Media Marketing, or utilizing Facebook, Twitter, and other social media platforms
  • WOM: Word of Mouth, or advertising via client praise

The Details

Essentially, the bulk of the terms are fairly self-explanatory. If you’re a business owner, chances are you are already familiar with terms like “word of mouth” and know whether your business is focused on B2B or B2C transactions.

However, it goes without saying that the more you know, the better off you are. Especially when it comes to familiarizing yourself with current trends and successful digital marketing tactics.

SEO knowledge, for example, is a highly sought-after commodity in terms of creating a booming virtual business. Why? Well, since the bulk of all internet traffic flows through search engines (such as Google) first, the businesses who rank in the top findings for each search are the ones with the greatest visitors. It doesn’t take a genius to understand that greater website traffic equates to a wider client base.

“Having your online business searched, found and ranked is not only about how you are marketing and messaging to online audiences but also how it is in observance of the latest rules and algorithms.” – Forbes.com.

The More You Know

There are multitudes of acronyms out there when it comes to digital marketing, but don’t let that dissuade you from getting your business out there digitally. These terms are critical parts of running a successful business venture of any kind today. The more you learn, the easier it will be to navigate your online presence.

1 April

Business Plan Basics: 5 Steps to Your Best Business Plan

When starting your own business, there’s one detail all successful business owners can attest to: create a solid business plan. While this may not be groundbreaking news, your business plan is a crucial step and needs to be taken seriously.

A solid business plan will help you with more than investment pitches (though that is a critical point for most). It will also help you outline everything you’ll need to be successful and will illuminate any potential problem areas.

Creating the detailed plan can be a tedious task but avoid being tempted to rush through it. This piece will be the backbone of all your future business’s endeavors; approach it with commitment.

With your future success riding on a solid business plan, prep work is imperative. To help make this happen, here are 5 steps to your best business plan:

1 – Create a Space

You might be ready to dive into writing, but the very first step should be to create a space. Before you begin your plan, you must make sure you’re prepared to work!

Whether it be a home office, a co-working office space, or an on-site building, you need to have a location that is specifically for working on your future business. Why? Not only does an office space give you a chance to work undistracted, it reaffirms your commitment to future endeavors. By designating a work space for yourself, you’ll be able to cut down on distractions, focus on your commitment to your future success, and get down to business.

2 – Do Your Research

Once you’ve created your working space, it’s time to begin researching. Since a bulk of your business plan will revolve around outlining your intentions, you need to be able to back up your words with action. Research similar businesses, speak with local business owners for tips, and use your research to formulate your intended actions.

3 – Do More Research

When it comes to a business plan, knowledge is key. The more you research, the higher your chances of success. It’s not enough to simply have a dream – you need to be able to make it a reality. You do this by fleshing out an outline of your path. You’ll need to know your market, competitive pricing, thoroughly define what you’re offering and how you’ll stand out from competition.

4 – Business Plan Outline

After you’ve begun your research, create a basic outline of your business plan. You shouldn’t begin writing it entirely, but create a skeleton outline of what to expect. For some, this can come in the form of a generic business plan template. An online search will help you locate one if you’re having trouble and want a basic template for reference. This outline will help you to organize your research and understand what’s needed before beginning your polished plan.

5 – Keep Focused

Lastly, while you want to make sure you have a fantastic business plan to present to potential investors or partners, do not let your determination be swayed by perfection. In other words, no matter how many times you review your plan, know that you’ll likely always find something to tweak, but don’t let that cause you to lose sight of your goals and miss your opportunities. It doesn’t have to be perfect – it just has to be detailed and concise. Stay focused.

“Don’t wait until you think your business plan is perfectly polished and cannot possibly go any further in depth. Otherwise, chances are you will have missed your window of opportunity…” Forbes.com.

Overall, the most important rule to remember when creating a successful business plan is to do thorough research and keep plugging away at it until it’s finished. It all begins with your preparation, so get yourself prepared for success!