One of the biggest problems facing an entrepreneur as they attempt to understand the value of PR and marketing to their business is understanding what the most used terms mean. It’s confusing, even for seasoned professionals, so understanding what people working in the industry say – and what they mean – can be a challenge. There’s a great deal of misunderstanding within the industry – people using the same words but meaning completely different things. So, we’ve compiled a PR and marketing glossary for entrepreneurs.
Marketing: contains four Ps. Product, Price, Place and Promotion. This is known as The Marketing Mix. Some new models for service-based models – which include 4Cs or 7Ps – have been developed, but regardless of whether you have a produced product or service the 4Ps will serve you well as the basis for any marketing programme.
Promotion: PR, advertising, social media, in-store materials, mailers, e-mailers, flyers, word-of-mouth, event, content/collateral… essentially everything that is not price, place or product. Promotion is often confused with marketing and PR – the term marketing is added to all of the words above – but, in reality, 99% of the time it’s promotion not marketing.
Let’s take a look at some definition for each these individual types activities.
Public Relations [or PR]: the practice of managing the flow of information between an individual or an organization and its publics. A public is any defined audience.
Advertising: is a form of promotion – often paid – that communicates a company message to encourage or persuade an audience [a public] to continue or take some new action. It can also be used to persuade an audience to maintain or hold an opinion about a company.
Social Media: promotion that uses conversation rather than traditional advertising, content, in-store or public relations techniques [although often uses these tools in order to start or maintain a conversation and persuade]. This has been made easier with the growth of the ubiquitous high speed internet.
Social Network: a network of like-minded individuals. Can be like-minded by profession, ethos or interest. The term has become synonymous with online community sites like Facebook, LinkedIn, FourSquare, MySpace and Pinterest.
e-mail ‘marketing’: promotion using email as the communications channel.
Content ‘marketing’: promotion that works by the provision of content to a defined audience via electronic or physical delivery channels in order to promote a product, service or organization. This includes in-store, flyers, point of sale, website and multimedia content…
Word Of Mouth: where third-parties [often customers] tell others about your business, product or service. This can be using electronic, paper-based, or face-to-face methods.
Read More Marketing MythBusters:
#3 | Content Is NOT King