Marketing is an important part for the startup entrepreneur as more work has to be done to secure new clients than to maintain the existing clients as there is often few. And while some may be getting into the whole marketing thing, some get into it blindly without the understanding of the  of even basic terms. You might be outsourcing your marketing function, but knowledge of these frequently used terms can come in hand.

 1. Market Targeting

Targeting as the word implies refers to how you aim to reach a certain group of people with the hope of turning them into customers. It is done when you come up with a business with a certain market or group who are likely to consume what you sell, and package and channel your marketing efforts  towards these people. Market targeting can be broken down in to parts. This happens as some people can be targeted through age, while some it is location and some religious beliefs and at times; a combination of all these is used.

 2. ROI

If there is a word that you will hear often, it is going to be this one. In Actual fact, you should be the one saying this word often. So, what is ROI? ROI is an abbreviation for Return On Investment. It explains how each marketing investment should bring about a return and analyses the degree of return. This comes in very handy when choosing your marketing instruments. Marketing is not a one shoe fits all practice. While one marketing instrument might be effective for another business, it might not be effective for yours. This requires that you pay attention to the ROI that the different marketing instruments bring so as to choose the best ROI instruments.

3. B2B

B2B means business-to-business and explains the situation where a business sells to other businesses. This is essential to understand as the marketing for a business to business is different from a business to consumer kind of business. For example, Business to business corporations often opt for email marketing instead of TV ads.

 4. B2C

Business-to-consumers: It is a setup where a business sells its products to the general population instead of another business. Of course, the marketing for this type of business setup is different. Making use of social media can prove to be effective to reach the potential consumers.

 5. Conversion

Conversion refers to how many people reached by the marketing effort actually took an action to buy what was being sold. An understanding of conversions helps in identifying how effective the marketing efforts are. If the efforts are effective then the people should be motivated to take an action.

 6. Impressions

Impression refers to how many people were reached by the people by the marketing efforts or simply an ad. Digital marketing instruments provide a great way to be able to measure these. For example, If you were to start a Facebook ad, it provides a number of the number of people it has reached and how many people actually clicked on the ad.

 7. Analytics

Analytics speak of the numbers. It is the data that each ad campaign provides. Just like impressions, many digital marketing instruments provide a clear picture of analytics. Analytics help you to identify whether or not your marketing efforts are working. Analytics just like any data, need interpretation in order to make sense, although tricky, it is possible.