Advertising
is an essential component of business building. You cannot build a
thriving company if you do not advertise your product or service. The
more you know about advertising and marketing, the greater your
chances are of increased conversions and sales. If you want to know
how to become a better marketer, understanding advertising terms is
crucial. Make sure you know the following five “A”
advertising terms, and you will increase your marketing outreach ROI.
AIDA (Attention/Interest/Desire/Action)
AIDA is a copywriting marketing term every business owner should understand. AIDA stands for attention, interest, desire, action and explains the process businesses must go through to generate sales. Often used to explain the steps of successful copywriting, AIDA can also be applied to other marketing endeavors too. You need to first get a sales prospect’s attention, pique their interest, evoke a desire, and then get them to complete an action. Actions can be anything from signing up for your email newsletter to purchasing your advertised product.
A/B Test
Whether you are selling online or in a brick-and-mortar shop, A/B testing is crucial for successful marketing. Testing everything from your pricing to your call-to-action phrases can have a profound impact on the success of your marketing. Don’t assume that just because your current iteration is working, it is your best choice. Do comparison tests on all aspects of your marketing and customer outreach to ensure you are achieving optimal results.
Abandonment Rate
Abandonment rate is another “A” marketing term all entrepreneurs should be familiar with. You can suffer from a high shopping-cart abandonment rate as an online entrepreneur, but you can also endure high abandonment rates at a physical business too. Every time a browsing customer doesn’t convert into a buying customer, you are experiencing business abandonment. Any adjustments you can make to reduce your AR will increase the profitability of your company.
Added Value
Developing an added-value strategy is imperative if you want to build a thriving business. When you make a consistent effort to add extra value to every customer interaction, you build brand loyalty while increasing sales. Added value can be anything from free shipping promotions for an e-commerce business to gift wrapping at a brick-and-mortar business. Adopt an attitude of always exceeding customer expectations and your company is sure to flourish.
Above the Fold
Above the fold refers to content that initially greets a customer when they visit your website or app. Newspaper readers will be familiar with this term, as it refers to reading the top half of a newspaper before flipping it over to read the bottom half. In today’s busy marketing world, above the fold can mean anything from the front side of a direct-mail flyer to accessing website/app content without scrolling. Your most important messaging must be front and center (or above the fold) to ensure your outreach efforts have the greatest chance of success.
Improving your advertising knowledge is a critical part of becoming a better entrepreneur. The more you know about marketing, the better prepared you are to increase sales for your company. Focus on learning marketing terms that can help you generate business revenues, and you will build a successful business that survives over the long haul.
