Glossary - Make For Business

Glossary

This is a glossary of some of the key terms you will hear when marketing your creative business. Is there something you would like to see us add to this list? If so, just contact us and we’ll add it!

Glossary

All | E K V T R W H D S O P G F L C
There are currently 23 names in this directory
Can Spam
Something that anyone who sends emails needs to be aware of. This is anti spam legislation and it is important that marketers follow these guidelines. In practice, it's good business sense. Don't add people to your mailing list without their consent and don't bombard them with overly salesy newsletters. https://www.ftc.gov/tips-advice/business-center/guidance/can-spam-act-compliance-guide-business
Domain Name
Your domain name is your website URL. It is worth securing your URL even if you don't intend to use it straight away. Do your homework to ensure it hasn't already been registered by a similar brand. Popular extensions are .com, .co. country specific domains, for example .co.uk and recently there are some different extensions available, for example, .gift.
eCommerce
Selling products online. An ecommerce store is a store which handles all aspects of the transaction, from order through to payment processing.
Elevator Pitch
An elevator pitch is what you say when someone asks what you do. It's so named because it's supposed to take the time it takes to ride an elevator. In reality it's a short statement which is designed to intrigue and entice the listener. It is not a sales pitch. Your desired result is for the listener to want to learn more, for example to ask for your business card or website address.
Email List
A list of names of people who have signed up to receive your emails.
Engagement
When people react with you, they are engaging. Engagement is key to marketing, as engaged followers or customers become loyal followers or customers. Engagement is when people react to a social media post, respond to your emails etc.
FOMO
Fear of missing out - a marketing technique that helps to focus people on buying now, because if they don't it won't be available later. FOMO uses either scarcity or time to focus people on buying now.
GA - Google Analytics
A set of metrics and analytic program which looks at statistics on Etsy and our own stores and websites.
Hosting
All websites are 'hosted'. This is like a rent you pay for your website to be hosted online. This is something you will pay if you have your own website.
Keyword
A keyword, or keyword phrase, is a word or set of words which are used when searching for something. We use keywords in Google to search, we use keywords in Amazon to search for things - and we use keywords on Etsy to search for products. Therefore we must ensure the keywords we use in our listings best describes how a shopper would search for our items.
Lead Magnet
Something great that you offer people in return for their email address. This is typically a free download.
Opt In
This is where people 'opt in' to your newsletter. An opt in box is the box that they complete. This is sometimes a pop up box or can even a 'welcome mat' which covers the full screen.
OTO
One time offer - a offer that's so good, it's available just once. This is part of the FOMO (fear of missing out) technique, encouraging people to buy NOW because if they don't, this offer will never be repeated.
Overheads
Overheads are the costs you incur in running your business which aren't time or materials / supply based. They will include things like telephone/internet, software licenses, energy bills, office stationery. These are costs you would not incur if you were not running your business.
Promoted Listing (Etsy)
This is a term used by Etsy to describe their CPC (Cost Per Click) advertising program. Sellers can 'bid' for a promoted place. This is similar in concept to Google Adwords advertising, but focussed 100% on Etsy.
ROI - return on investment
A term used to describe the positive (hopefully) effect of money or time invested. For example, if you spend 3 hours working on social media and got 12 new followers, the new followers were your return for the time you invested. Moneywise, if you spent $5 on Facebook advertising and received $100 worth of orders, that is the return on your financial investment.
Search Engine
A search engine is something like Google, which searches for you. Other places have search engines, including Amazon and Etsy. When you type a search term into a search bar, a search engine is the thing that finds the results.
SEO - Search Engine Optimization
SEO or search engine optimization is what we do to prepare a web page, product listing etc to it is best placed to be found by a search engine.
Tagline
A handful of words that describe your brand and say what it means for your customer.
Target Market
The people you have identified as being the group of people most likely to purchase your products. This is one of the essential building blocks of growing a successful business.
View/Pageview
A view or pageview in analytics such as Etsy stats or Google Analytics refers to how many times a page has been viewed.
Wholesale
A business-to-business relationship between the person making the products and the retailer who is buying them to then resell to consumers
Word of Mouth - WOM
Word of mouth is a traditional form of referral when someone loves your products and tells family and friends. It also has a modern day alternative when people are rewarded for telling people on social media etc about your products.