Words (terms) that every freelancer should know.
Marketing is necessary for any freelancer or small business owner. It helps attract new customers, increase brand awareness, and drive sales, both service-based and product-based. However, to effectively market your freelance business, it's important to have a solid understanding of common marketing terms and concepts.
Take a look below for some key terms that every small business should know.
Target audience:
Your target audience is the group of people that you want to reach the most with your marketing efforts. This could be based on demographics (age, gender, income, etc.), interests, or other characteristics. Knowing your target audience helps you create and write your marketing messages and tactics more easily and get your message to the right people.
Branding:
Branding refers to the overall image and reputation of your business. It includes elements like your logo, colour scheme, font choices, and tone of voice. Strong branding helps customers recognise and remember your business and can differentiate you from competitors.
Marketing mix:
The marketing mix is a framework that outlines the elements of a marketing campaign. It includes the four "Ps"—product, price, place, and promotion. The marketing mix helps businesses consider all aspects of their marketing strategy and how they can be adjusted to meet the needs of their target audience (see above).
Customer segmentation:
Customer segmentation is the process of dividing customers into groups based on shared characteristics or behaviours. This helps businesses create targeted marketing campaigns that are more likely to resonate with specific customer groups.
Marketing funnel:
The marketing funnel is a visual representation of the journey that a customer takes, from awareness of a product or service to make a purchase. It typically includes stages like awareness, consideration, and decision. Understanding the marketing funnel can help businesses create successful marketing campaigns that guide customers through the different stages of the buying process.
Conversion rate:
The conversion rate is the percentage of visitors to your website or marketing campaign who take the desired action (like purchasing or signing up for a newsletter). Improving your conversion rate can help drive more sales and revenue for your business.
Search engine optimisation (SEO):
SEO is the practice of optimising your website and online content to rank higher in search engine results pages (SERPs), like Google. A higher ranking in SERPs can lead to more visibility and traffic for your business. Knowing the right keywords is an important part of your SEO.
Hopefully, this small roundup of marketing terms will help you understand a bit more as a freelancer and small business owner. Marketing is a tough topic, but it's important to help your company's visibility.
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