Each year there are new words that either grow in popularity or are created by marketers or business gurus. There seems to be dozens that pop up here are there with various meanings. Here are a few recent ones words that every business owner should know:
- MVA – A minimum viable audience is a concept that relates to a minimum viable product. A MVA is the smallest amount of potential customers that you should have before launching a product or business. It is commonly used in conjunction with Kickstarter. A MVA validates your business and limits risk when you launch your business because you already have people interested in your product or service.
- Evergreen – Evergreen content or evergreen marketing refers to timeless content that does not lose meaning in a few months or years. It holds value, because you won’t need to continuously develop content which can be costly. On the flip side your content may become boring or stale to some customers. A mix of evergreen and non-evergreen content is preferred, but will differ between businesses and markets.
- Growth Hacking – A new concept for startups that utilizes metrics and analysis to creatively grow your business and retain customers. Is can be part of your marketing system or campaign. Growth hacking is important for startups who need to grow rapidly, efficiently, and have scalable growth. This term is relatively new and commonly misused. A growth hacker is similar to a marketer, but has more of a focus on growth of the startup.
- Mobile Apocalypse – The mobile apocalypse refers to a recent update from Google that penalizes websites that are not mobile friendly. The algorithm will not rank these websites well and has small ripple effects to your online presence as a whole. Although this term seems to be a huge issue it only effects those websites that are not mobile responsive. Simply talk to your web developer or designer to see if you are.
- S-commerce – Facebook has recently changed its format and allows for more sales friendly posts. S-commerce is the social e-commerce hybrid. Social media sales will become more common place in the near future and many small businesses are now utilizes this for expanding their online sales.