Conversational Marketing is built for Sales teams and designed to grow pipeline. Automated chatbots can capture email addresses (leads) and book sales meetings. If you have a team of sales reps using Live Chat and Voice Call functionality, your sales team can do discovery calls or product demonstrations on the fly, and create pipeline right from a website conversation. In this article, we'll get you familiar with regularly used Conversational Marketing terms.
ABM (Account Based Marketing)
- ABM is a strategic approach to marketing based on account awareness in which an organization considers and communicates with individual prospects or customer accounts as markets of one. Account-based marketing is typically employed in enterprise-level sales organizations.
Account
- An account is an organization, company, or consumer that you want to track—for example, a customer, partner, or competitor.
Annual Recurring Revenue (ARR)
- Annual Recurring Revenue, or ARR, is a subscription economy metric that shows the money that comes in every year for the life of a subscription (or contract). More specifically, ARR is the value of the recurring revenue of a business’s term subscriptions normalized for a single calendar year.
- For example, if your subscriber purchases a two-year subscription for $12,000, the ARR would be $6,000 for each year. ARR is predictable revenue that can be counted on every year.
Campaign
- A marketing initiative, such as an advertisement, direct mail, or conference, that you conduct in order to generate prospects and build brand awareness.
Campaign Member
- Any Lead or Contact associated with a Campaign.
Contact
- Contacts are the individuals associated with your accounts.
Conversations
- A conversation is defined as a back-and-forth interaction between a visitor and either a human rep on your team or the Qualified chatbot.
Drop Off
- The act of a visitor leaving your Experience or website before continuing on to the next step in the Experience.
Experiences
- An Experience is the Qualified message and flow that you've created to show up on a particular page, for a particular visitor set, or triggered by a button or form on your website.
Impression
- An Impression is defined as every time a visitor is served an Experience on a page.
Lead
- A lead is a sales prospect who has expressed interest in your product or company.
- Leads are comprised of an Account and one or more Contacts.
Marketing Qualified Lead (MQL)
- A contact that is considered to sufficiently meet the company’s “Ideal Customer Profile” and passes on to the Sales team. MQLs are created and passed in an automated fashion, like after a prospect has responded to a targeted email campaign.
Opportunity
- Opportunities track your sales and pending deals.
- They are comprised of an Account and one or more Contacts.
- An Opportunity is created from a Lead.
Paid Placement Campaign
- Paid placements are used by marketers in a wide variety of industries to place products and services on websites that are known to generate qualified traffic.
- For example, insurance brokers would pay to be listed in directories that small and medium-sized companies use to browse for company health insurance.
Pounce
- The act of a sales representative proactively engaging with a visitor before they hit the Route step in the Experience.
Sales Accepted Lead (SAL)
- A sales accepted lead (SAL) is a marketing qualified lead (MQL) that has been reviewed and passed to the sales team for approval.
- A popular process used by marketers to qualify a SAL is the BANT method. This stands for Budget, Authority, Need, and Timeframe.
Sales Qualified Lead (SQL)
- A prospective customer that has been researched and vetted — first by an organization’s marketing department and then by its sales team – and is deemed ready for the next stage in the sales process.
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