A-Z of Marketing Part 2

alphabet part 2

J is for Judgement. How will an organization’s success be judged in such a competitive market? Is it by how many new customers they acquire? How may followers they get on social media? This is where KPI’s come into place.

K is for Key Performance Indicators. Key Performance Indicator (KPI) is a business metric used to evaluate factors that are crucial to the success of an organization.

L is for Learning. In an industry where there is always constant change, learning is key. Whether it is mastering how to use a new tool, learning how different departments work in unison to satisfy the customers need, learning ads value. It’s a lifelong commitment and is mutually beneficial to all those involved.

M is for Message. This has to clear and concise. When communicating to a desired audience, it essential that the vocabulary is one that they understand so the message doesn’t become lost in translation.

N is for Noticing. This means looking out for trends, statistics, patterns and how they can be incorporated in an organization’s strategy.

O is for Optimisation. Maximising ways and using different techniques for your brand’s voice to be heard is paramount to success and for customers old, new and potential to know more about your business.

P is for Persistence. In an industry where innovation is key to get ahead in a competitive market, things do not always go to plan. However, in order to be successful and keep customers satisfied, persistence is key.

Q is for Quality in work. Take pride in the work you produce and don’t just rush to put anything out. Quality will always override quantity.

R is for Rate – Churn Rate. The rate in which customers stop using a service/ product provided by an organisation is essential. Its acts as catalyst for businesses to pay close attention to retaining and acquiring customers. Measuring the churn rates helps increase revenue.

Part 3 to come soon. In the meantime, click here to read part 1

Until next time….

 

Emmanuel #EKsMarketingViews

Note: Statistics in the links were accurate at time of publications.

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One thought on “A-Z of Marketing Part 2

  1. Pingback: Useful marketing and social media acronyms and abbreviations to know | https://eksmarketingviews.wordpress.com

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