MARKETING BINGO, Eyes Down for a Full House
We’ve all been in those meetings when the urge to bust out the Jargon Bingo Card is too great to ignore, so, in this series of short blogs we are going to look at the popular terms that will help you to win, eyes down, look in.
Let’s start by ticking off the four key marketing approaches: conversational marketing; account-based marketing; contextual marketing and word of mouth marketing. They are marketing jargon bingo 101 for good reason.
Conversational marketing has become one of the fastest ways to move your customers through your marketing and sales funnels. It’s based on real-time conversations which create an authentic experience. You’ll likely recognise the rise of the most common conversation starter– the chatbot, but many companies use platforms like Facebook or Twitter to engage directly with their audiences.
This leads us nicely on to Word-of-Mouth Marketing (WOM). This relies on the advocacy of a satisfied customer. They are often used in case studies, and many are encouraged to write reviews. It’s widely considered to be the most effective form of promotion, and we agree. We use this approach with our monthly industrial editors’ briefings. After all, there is no better endorsement than a happy customer.
Turning to existing customer relationships, Account-Based Marketing (ABM), is the term given to activities and tactics that engage with existing, known targets, these could be existing clients or those with whom your organisation has an existing relationship with, or those identified based on your ideal customer profile. The concept here is that you will be able to send tailored messages to highly targeted individuals.
Targeting individuals based on a variety of habits is called Contextual Marketing. Using this approach, the company builds a target list based on behaviours and conditions, making the content relevant to the individual receiving it, which in itself is a science. Delivering contextual information to the right people at the right time is based on psychographics of the buyer’s persona. Armed with this information you’ll know how and when to speak to them and of course, what to say!
So, whether you know your ideal customers or not, there is an approach waiting for you to implement and get that all important bingo score card complete!