If you’re reading this, you probably already checked out my first post about questions you need to be able to answer in your next marketing interview.
Hopefully, you’re feeling confident about those questions, and eagerly awaiting the next part the interview you get to master. Well my friend, here it is… all the terms you need to understand, and all the work examples you have to be able to discuss, to get through it like a pro.
Keep reading – you’re getting closer and closer to nailing that interview!
Terms You Have to Know
When interviewing for most mid-level marketing jobs, you can usually get away with having fundamental and intermediate marketing experience. But you can’t escape needing to understand marketing vocabulary. Here are the different groups of terms you should understand and be able to speak about:
- ABM vs. demand gen – Marketo defines Account-Based Marketing (ABM) as “an alternative B2B strategy that concentrates sales and marketing resources on a clearly defined set of target accounts within a market,” I like how LeadMD defines it: It's just good marketing. [read more here] Demand gen is using a variety of marketing initiatives to drive overall interest in your company.
- Nurturing – This is how you treat each lead, and how you interact with them throughout the buyer journey.
- Inbound marketing – Inbound tactics are what draw leads to your company, like blog posts and webinars. It's everything you put out there in real estate to bring people in.
- Outbound marketing – Outbound tactics are efforts your company takes to bring your products or services to prospects, like cold-calling or email marketing.
- Buyer personas – These are comprehensive descriptions of your most ideal customers, usually including demographics or even psychographics so you know how to market to this audience.
- MQL, SQL, AQL, SAL, MAL, Graveyard, etc. Marketing and sales departments qualify leads differently at different companies, so a Marketing Qualified Lead (MQL) is a lead that marketing believes is ready to be moved to the next stage of the funnel while a Sales Qualified Lead is a lead that sales believe is ready to move forward. Automation Qualified Leads (AQL) are those leads that are ready to be put into the marketing automation platform. A Marketing Accepted Lead (MAL) is one that marketing has qualified based on certain scoring processes, and leads that are considered to be in the “graveyard” are those that have been dormant for at least a year.
- Analytics & reporting encompass the collection, analysis and use of data. You also should be aware of many of the tools that support analytics and reporting, like Marketo, Salesforce.com, Google Analytics and more (note: you don't need to be an expert on these things yet, but you do need to be aware of them).
- Email performance: A bounce rate refers to your website visitors who only looked at one page of your site before leaving the site; an open rate refers to the percentage of individuals you emailed who actually opened your email; a click-through rate is the number of people who clicked on links within the emails you send.
FINANCIAL & BUSINESS TERMS
- Churn rate – The percentage of customers per year that stop using a company’s services or the percentage of employees per year that leave the company.
- CAC – The Customer Acquisition Cost refers to how much it costs a business to acquire one new customer.
- LTV – Life Time Value of a customer is the amount of revenue a customer brings your company throughout their entire ‘lifetime’ of engaging with your brand.
- MRR – Monthly Recurring Revenue is the average amount of revenue you get per month (especially pertinent for subscription-based busineeses).
- Onboarding – This is the process that customers or employees go through when they initially come on board with your company.
- ROI – This is the Return on Investment for any given initiative or tool. In other words, it tells you how much you earned versus much you spent.
- Budget & cost allocation – As it sounds, each business typically has a financial framework (budget) by which it operates and the cost allocation is how much of that budget each department gets.
MARKETING TECHNOLOGY AND OPERATIONS TERMS
- CAN-SPAM – This is a law that sets rules for commercial emailing, with which companies must comply.
- API – An Application Programming Interface encompasses the tools and resources in an operating system, which help developers create software applications.
- Marketing automation – This refers to the software systems that enable companies to automate email marketing and other marketing sequences.
- CRM – Customer Relationship Management systems help companies organize information about their customers and stay on top of their buying journey.
If any of these are unfamiliar, brush up on the full scope of what their meanings and how they might relate to the job for which you’re applying. There are plenty of glossary resources online you can check out to help you with this. And if, by chance, you’re still asked about a term you don’t know while in an interview, don’t fake it. Only speak about the concepts you can speak about intelligently, and be honest if you’re unsure about something.
Projects You Should Mock or Aim to Talk About
Some companies ask for samples of campaigns you’ve done, or other examples of your work at your current or previous jobs. If you have these, make sure they’re easily viewable and accessible during the interview. And if you don’t, make sure you can talk about specific projects you’ve worked on, including:
- Successful & unsuccessful campaigns
- Nurture strategy
- Email campaigns
- Social campaigns
- Reporting & metrics
Once you have a familiarity with the terms mentioned above and work samples and/or examples in mind of projects you’ve worked on, you’re well on your way to acing your next marketing interview.
Preparation is key to earning your dream role, as is honesty and a willingness to learn. As a philosopher once noted: Luck is when preparation and opportunity meet. Be prepared, so you can succeed when opportunity knocks! Wishing you all the best.