BUSINESS BALDERDASH – JARGON & BUZZWORDS EXPLAINED

I remember sitting in my first meeting at my last job. There I was newbie, enthusiastic, wet behind the ears and eager to hear what happened at these meetings. BOOM within 2 minutes I had heard the alphabet and a dozen acronyms were thrown across the table. Things were being talked about in what seemed like a foreign language WTF! (assuming you know that one).

Luckily I am the type of person that asks questions. Apart from being naturally nosey, my parents always told me if I didn’t understand something ASK! So I did and I learned.

People use words and phrases that they know. There is industry specific jargon and buzzwords and then there is general balderdash bumph. People don’t always (I say always because some people are just twats) use them to intimidate or confuse. It’s usually out of habit and the assumption that everyone knows what they’re talking about.

It can be quite daunting when you’re starting out a new venture to be hit with things that don’t really make sense to you. I’ve worked with several folks that have been working in their industry for a long time and are very good at what they do. They are now starting out online and all of a sudden their confidence is shot! They don’t know where to start, type it in to Google and are quickly overwhelmed with the information in front of them.

As I’ve previously covered Marketing, Strategy, Plan & Campaign, I thought I would help with demystifying another 14 Business Buzzwords & Phrases that can leave you feeling a bit like WTF!

In Alphabetical Order

B2B / B2C 

I know it sounds like a robotic duo from a movie but it is shorthand for Business to Business and Business to Consumer. Business to Business is where a product / service is being marketed towards other businesses. Business to Consumer is where it’s being marketed toward the final customer (end user). Some products / services are both B2B and B2C.

Ultimately it boils down to the way you would market your product. B2B benefits the business growth, profit, customer relationship. B2C benefits the customer personally.

We also actually have C2C, yep, consumer to consumer. With online market places and social media, individuals are selling to other individuals without being a “business” (I could go off on another tangent there; maybe another time).

BLOG

As you are here, reading this, I could assume you know what a blog is, but I won’t. Briefly it is a form of online communication. It is where you can share your experiences, knowledge, information, points of view, pictures, videos, articles etc. for other people to read, comment and share.

BRAND 

I love branding, and to be honest it deserves a whole section all to itself. For the purposes of this article I’m going to squash it all down. A lot of people think that a brand is all about the logo – WRONG. It’s what makes you different from other businesses; it’s how people recognise you, the feeling of the business. A logo is only a part of it, and even then, it’s not an essential part. Business name, tagline, marketing message, communication, colours, fonts, language, packaging, presentation, consumer expectation versus experience, your experience, skills and knowledge, are all in some way your brand.

CATEGORIES & TAGS 

Categories and Tags are a way of grouping your blog posts / “articles” together. This should make it easier and tidier to manage but also easier for people to find things that would interest them.

Someone once explained it to me in a way that stuck – Categories are like chapters in a book, the Tags are like the index.

CHANNELS 

Communication Channels, Distribution Channels, Marketing Channels. The way you get the goods / services / information from you, the producer, to the client / customer / consumer.

COPY 

The text content you use in your publications, website, online presence, adverts etc.

CTA 

Call To Action is the prompt you use to encourage your audience to take action. A CTA might be something like buy now, read more, contact me, comment below, download, sign up.

DOMAIN 

When people refer to domain, without going in to too much detail and the whole technical side of things, they are generally referring to the domain name. This is basically the front end, user friendly, unique website address.

HOSTING 

We’re talking website hosting here. Your website is made up of databases and files. A website hosting service will keep your files on a server (storage facility). A good hosting service will do their absolute best to make sure your files are secure, but you still have to take responsibility in ensuring you have strong passwords and carry out regular back-ups (unless you are paying your host to back up for you).

IDEAL CLIENT / IDEAL CUSTOMER / TARGET MARKET 

Yeh I know, you are targeting anyone that will buy your goods and /or services, I get that. This is an area that has created so much frustration for so many people, including myself.

These terms are used to encourage you to target your marketing. You will never be able to talk to everyone, you will never fit everyone, so there is really no point trying, you will waste your time, energy and money.

Who is most likely to benefit from what you are offering? Talk to them. It doesn’t mean you are limiting who you will sell to. It doesn’t mean someone outside that image you have created, won’t look or be interested. It just means you have someone in mind when you are creating your goods and marketing them, increasing your chances of getting the results you’re looking for.

KPI 

Key Performance Indicators are a set of identifiable, measurable values that help you see how your business is performing in relation to your goals / targets. Examples might include financial targets, customer numbers, engagement on your website, social media numbers.

MEME (sounds like Dream) 

I’m not overly keen on this word but I use it a lot. It seems to have morphed in to a generic term for the image content you see on social media. Ideally a meme is visual, catchy, something that is created with the intention of being shared. Something that people see, connect with (find it funny, true, informative, makes them think of someone or an experience) and makes them want to share it amongst their contacts.

SEO 

Search Engine Optimisation is a process / discipline of increasing a websites visibility and ranking (always aiming for page 1) on search engines. This should result in increased visitors to your site.

USP 

A unique selling proposition / unique selling point is something that differentiates your product / service from others. Why should someone choose your business over your competitors?

 

I hope this has helped clear some of the head-fog. If you are still feeling a bit lost, don’t be worried about asking, we all have to start somewhere!

I would love to hear your thoughts. If you’ve got other examples please feel free to add them in the comments.

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