For most business owners and marketers, the year 2020 was a year filled with surprises. The impact of the COVID-19 pandemic has affected consumer behaviors, forcing retail brands and other businesses to modify their marketing campaigns. But as we enter 2021, entrepreneurs and marketers need to stay relevant to drive more customers and increase sales.
In the past years, the digital marketing industry has gone through a series of changes. Although the pandemic has affected marketers in different ways, the online world has remained positive as it becomes an essential venue for businesses to maintain their sales pipeline and grow their customers.
But as digital marketing continues to evolve, more business owners find it difficult to navigate the industry as marketers introduce new buzzwords and approaches you have never heard before. If you want to create a successful marketing campaign, learning the most important marketing buzzwords will help you plan your marketing strategies this year. To learn more about digital marketing, here are some of the latest marketing buzzwords you’ll be seeing more this 2021.
Customer Experience (CX)
During the COVID-19 pandemic, insurance companies saw a staggering rate of customer inquiries about health insurance programs. As a result, insurance businesses and agents began to take marketing campaigns seriously to maximize the growth of insurance applications. One of their techniques is to create professionally designed insurance websites that take into account customer experience or the CX.
CX is equivalent to user experience (UX), but the term focuses on the customer’s overall perception of their experience with a brand or business. It also refers to the customer’s interaction with a business, starting from navigating the business website, talking to customer support, making online orders, and receiving the service or product from the business.
Everything a business does affects a customer’s experience and perception, as well as their decision whether to avail of the product/service again. That is why a compelling customer experience is key to a successful marketing campaign.
One of the important goals for any business is to turn its current customers into loyal clients. To ensure your existing customers will remain loyal to your brand, you need to understand how the customer journey works.
A customer journey is often referred to as the user experience map, a visual representation of the overall process customers go through as they interact with a brand or business. Instead of reading a small segment of their experience or transaction, the customer journey considers the entire experience of the consumer.
Understanding the customer journey will help businesses get a better sense of a customer’s mindset and how they can improve their brand. Marketers often create a visual presentation of the customer journey to understand a customer’s motivations and pain points.
Marketers use this tool to gather and track potential leads to the business. Understanding a customer’s buying journey help navigate the marketing funnel. The process starts by breaking down a consumer’s journey from the “awareness stage”, when a customer learns about the business. This is followed by the “purchase stage”, when the customer is ready to avail of the service or product.
Marketing funnels often include follow-ups to increase customer retention. Learning how to use this tool can make a great impact on your marketing strategies and consumer communication.
Conversion rate optimization (CRO)
CRO marketing is the process of increasing visitor percentage on a website, where visitors perform a specific action that will turn them into successful leads. This includes signing up for a webinar, subscribing to the email list, or answering an information form.
Optimization matters for every website as it expands the marketing efforts of a business. The core purpose of CRO is to enhance the number of website visitors who successfully convert as customers. But to get better CRO results, the business should on their website to bring in more visitors and keep them there.
Although this term is not entirely a new marketing catchphrase, the effects of COVID-19 made this approach become an important part of the retail industry. As consumers become more dependent on online retail, businesses found ways to make their shopping experience unified and seamless.
An omnichannel retail business is not just about managing an e-commerce platform and an on-site business, it is about unifying the brand and content for both traditional and digital advertising campaigns. This way, customers have access to information wherever they want. As the retail community evolves, more retailers will adopt the omnichannel approach to improve the shopping experience of their customers.
Now you are aware of the latest marketing buzzwords, it is time to implement these tools and approaches to your marketing strategies. If you find it tough to apply these approaches, you can always turn to digital marketing firms to use these terms effectively for your marketing campaign.