New Lingo You Should Know
Business vocabulary keeps growing. Here's a primer on the latest terminology.
One thing you can always count on: Each new year will add a new set of business phrases to your vocabulary. Here are some new ones you need to know:
Google slap:
When your search engine ranking takes an unexpected nose dive. Often, this is a result of a search engine changing its ranking methodology.
Why you need to know it:
You need to monitor your ranks and when changes happen, work on new search engine optimization efforts to get back your rank.
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Cockroach Theory:
Like a single scurrying cockroach signifying more in the walls, bad financial news means there's more where that came from--think banking crisis.
Why you need to know it:
If you see signs of financial deterioration in your community or business, don't ignore them. They may be bigger than you think.
Cautious pause:
The new frugality trait of stopping to consider every purchase instead of simply buying on impulse.
Why you need to know it:
A May article in The New York Times called the cautious pause "the scariest thing for retail going forward." You need to be aware of those critical few seconds when customers are weighing the purchase and be sure you're overcoming objections with your merchandising and customer service.