It feels like new marketing words are emerging every day in the marketing community. In the last few years, buzzwords like growth privacy and mobile-first have determined the marketing world. Keeping track of many terms is not always easy.
However, this is important in order to be able to compare the expectations and requirements of the terms. If you want to have a say – as a marketer, online marketing agency, or B2B company – you need to know the terms and their meanings. This is the only way to stay up to date and continue to participate successfully in the market.
Not all buzzwords turn into long-term trends. However, fashionable words are often the birth of new technical terms that are gradually determining themselves in the industry and giving an entirely new discipline a permanent name such as “Programmatic Advertising”.
But whether it’s a long-term development or a short-term trend – buzzwords are making headlines for a reason and therefore require the necessary information about them as well.
That’s why we have listed and explained the 7 most important marketing words of 2020.
Growth hacking is a new marketing approach used to increase a company’s growth through certain tactics (“hacks”). Growth hacking can also be understood as an interface between data, user experience, product, and advertising measures. However, growth hacking is more than a strategy, rather it is a completely new approach to thinking about marketing.
The approach puts rapid growth at the center of all corporate activities. This means that every tool and every technique used in a company is geared towards increasing growth. Through agile experimentation and analytical thinking, an attempt is made to guide users to increase conversions or sales.
In addition to increasing growth, the focus is also on minimizing costs. For this, the approach primarily uses cheap marketing channels such as social media.
Oftentimes, Growth hacking does not use traditional marketing but rather turns the product into a marketing tool. Initially, growth hacking was therefore mainly used in the starter scene with limited financial resources.
2. Design Sprint
A design sprint is a multi-day process with the goal of developing innovative products and creative services in the shortest possible time. Design sprints help companies meet the constant demand for innovation. The design sprint mostly replaces product processes that take weeks with its agile approach.
The best-known format was created by Google Ventures to go through a complete development cycle, develop prototypes and test them in just a week. Prototypes are also tested directly on the customer in the Design Sprint to find out if a product is really worthwhile or what needs replacement.
The focus is on developing a visual concept for user guidance. The result of each Design Sprint Week is an interactive prototype that is tested by real users and provides clear information for the future.
3. The Growth Sprint
In this case, Growth Hacking meets Design Sprint and creates a trendy Growth Sprint word. Similar to the Design Sprint, it is a process that takes several days and increased growth is the top priority.
The goal of a growth sprint is to quickly and efficiently solve major marketing challenges and validate new strategies or improve existing campaigns.
A sprint of growth adds focus and momentum to marketing measures. With the Growth Sprint, you can stay behind by planning months of complex and expensive campaigns and concentrate on the basics. Ultimately, the goal is to get a checked, functional and tested campaign with real customer feedback.
For more information on Growth Sprints to increase your growth, please see our blog post: Growth Sprint.
4. Design thinking
Design Thinking is a form of corporate strategy that aims to enable the company to work creatively, innovatively, and close to the customer at the same time.
The strategy can also be used as a method. Methodically, Design Thinking can serve to encourage creative ideas that are user-oriented and meet their needs. For this, customer feedback is received during the design thinking process.
The result of the design thinking process is often innovation. Innovation doesn’t always have to be one that radically changes the world. It may also be a matter of minor changes involving, for example, optimization of internal processes.
At the same time, Design Thinking uses a variety of methods to make the user’s perspective visible to their wants, needs, and goals, to the innovation team and therefore to the company.
5. Agile Marketing
Agile marketing can be seen as the answer to the fast-moving digital world. The new marketing approach ensures that marketing campaigns are executed in an agile manner and customers’ needs are met rapidly.
Additionally, data and analytics play an important role in today’s marketing world. Agile Marketing knows this development and finds possibilities and solutions for every marketing challenge in real-time. With quick tests and evaluations, many campaigns can be run simultaneously and flexibly adapted to customer needs.
At the same time, agile marketing encourages a focus on clear marketing goals that need to be achieved. By using agile marketing, companies can respond to the challenges of the digital age in a better and more sustainable way.
6. Customer Centricity
Customer focus is a concept that focuses on the customer, not the product. However, customer orientation is more than just a concept, it also affects the corporate culture and all strategic dimensions of the company.
The value chain starts with the customer. Customer expectations, needs, and desires form the starting point of all marketing measures. In addition to customer service surveys and insights, social media data is a valuable resource for getting essential information about customers.
The concept responds to the ever-declining loyalty of consumers to be attached to a product. The change in the customer-brand relationship means that the customer experience becomes more and more important and becomes a valuable asset for brands.
With this approach, companies can also display personalized ads that provide customers with truly relevant products and services. This increases trust and loyalty to your own brand and thus leads to more leads and conversions.
Mobile-first is a new approach where the presentation of websites and the entire design on mobile devices is the top priority. According to the principle: mobile-first, then desktop.
Mobile is primarily reacting to current development where websites are less accessible from mobile devices such as smartphones and desktops. Consumers first contact a company or product on mobile devices, such as mobile ads or social media.
Additionally, the approach puts the good usability and short loading times of a website at the focus of their decisions. Both are important factors in making a good mobile customer journey and keeping bounce rates low. This, in the long run out of the desktop and even more conversions and more customers, provides a candidate.