Marketing speaks aka marketing jargon is usually perceived as tricks up a marketers sleeve. Having worked in a corporate and now with a marketing agency, life has kind of been a full circle in a short span of time. And throwing jargon in meetings has changed its hidden motive from “testing ones skills” to “proving ones”.
But given the peace loving person that i am, there can be a truce offering. What if everyone just knew what these tense but often self explanatory words/phrases meant. So here are some marketing magic words that you might use (*with caution) while discussing the life changing marketing strategies with your team, marketing experts, third party or your pet dog!
1. Advertising Clutter
Hey remember that beauty soap ad?! which has like milk, shea butter and aloe vera in it?…the one which has a beautiful model in a bathtub with foam all over her??…ohh come on, how about the jingle that’s always at back of your head!
I bet we all are thinking about different soaps that match the description above. And that my friend is an example of advertising clutter or Marketing clutter. While this phenomenon is inclined towards being a negative marketing effect but that’s not entirely true. Creative content, targeted messaging and multi-channel communication is key to creating some space for your brand in the clutter.
2. Double-Loop Marketing
Marketing for a product or service starts with a strategic approach towards achieving the goals you set out for your business. Here the term approach is important because it is a step wise planner that aligns various components of the campaign to measurable KPI. Double-Loop marketing is an effective approach wherein the marketing efforts are two fold: Market Share & Wallet Share
In the first loop companies try and provide as much information and advise to the potential customers about their solution/innovation. You do not want to just talk about your product but present a bigger picture of how your product/ service will make their life perfect. This loop is vital in creating a recall for your brand thereby creating a mind share in consumers cluttered mind. In line with the example of soaps, we have to give it to Dove for their consistent messaging of “moisturizing soap” and that’s what lingers in or mind when we think of this soap. The second loop is where you say show me the money! because businesses run on money you have to successfully sell you brand and grab a wallet share of your consumers.
There you go…I hope you’ve added these marketing lingo to your pocket book and ready to bedazzle the next marketing presentation. Come back because there’s going to be more of marketing speak in the coming days.
I am no marketing guru, I learn and spread the word. So please leave your comments in the form of suggestions, feedback, explanations and make this a marketing classroom.