A guide to experiential marketing acronyms to help keep you up to date in meetings when people throw acronyms like hands. SKU this, USP that.
One of the curious things that happens in marketing is many people end up working in that part of businesses because they can sell. Not because they necessarily have an MBA. A person may have studied zoology but if you care about selling more then, marketing is a broad church. But, if you don’t know all the jargon then this list may help keep you up to date in meetings when people throw acronyms like hands. SKU this, USP that.
Experiential marketing NZ is getting customers to experience the brand/product. This can be very abstract or as simple as getting customers to taste your food. The wisest way to experience a new biscuit is to get customers to eat the biscuit.
Brand Experience NZ. See above, experiencing the brand. Eating the client’s biscuit, using the washing powder, etc. Or it can be as creative as Red Bull leveraging cool from DJs by founding the Red Bull DJ Academy.
Shopper Marketing NZ the study of the thinking of shoppers and how to encourage purchase.
Event Management in NZ People who manage events. From concept to debrief. Marketing, selling tickets, ensuring customers enjoy the event, health and safety, logistics, etc. Tough job. Much can go wrong.
Awareness. Making sure the market place knows about your product. We’re all aware of Lamborghini but almost no one can afford one.
Talent/BA/Taster/Brand Ambassador/Demonstrator/Contractor the person who sells the client’s product.
Sponsorship. Companies paying to be associated with events.
Lovemarks or Love brands. Brands that have fanatics. These fanatics will convert other consumers. According to the book “Lovemarks”, the brand has to tell a story, be enabled to be sensed, and allow an emotional relationship with the brand.
Target To whom exactly are you trying to sell? Don’t try and sell sausages to committed vegans. By knowing your wide target demographic and the demographic bulls eye you can wisely tailor your marketing.
SKU Stock keeping unit. Or just unit. One can of coke. Two cans of coke etc.
USP unique selling point. Why buy coke over Pepsi? No reason as they are both fizzy, sugar drinks but with different marketing and flavours
CLV Customer life value. I spend too much money on chocolate. Whoever first convinced me to try chocolate has created a customer lifetime value of millions of dollars from me.
ROI Return on investment. If the client spends 100K how many units will they sell?
XM Experiential marketing. See above.
UX User experience. What is it like for customers to use this product? If it’s not easy or fun or rewarding to use then people will stop or your competitors will steal your customers. Remember Kodak? No, neither do we.
ATL, BTL, TTL. Above the line, below the line, through the line. Above the line means marketing for a wide audience like TV or a website. Below the line is much more targeted like tasting/sales events or discount coupons or exactly targeted adverts on Facebook. Through the line is both.
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