Learning the language that is being used in your position or field is important. Rather than either A.) acting like you know what everyone’s talking about until you finally figure it out on your own (probably not a good idea) or B.) ask a billion-and-one questions about every acronym or “fancy” word your coworkers are using… we have set up some digital marketing definitions for you:
CPA: Cost Per Acquisition
The measure of the cost of acquiring a customer who takes any action on your website. It is your return on marketing investment.
A form of advertisement buying. It describes the price you pay for every click on your content or advertisement. This can go hand-in-hand with PPC (pay-per-click).
CRM: Customer Relationship Management
This describes software used to manage relationships with customers. There are ways to construct marketing automation platforms such as email automations, easily find client contact data, and much more. Here at Running Robots we use Zoho One.
ERP: Enterprise Resource Planning
The ability to gather and organize business data through an integrated software suite. ERP contains applications that automate business functions.
CMS: Content Management System
An application used to manage web content. This system allows multiple contributors to create, edit, and publish content all stored in a database. At Running Robots, we use WordPress to compile our documents and content.
The CPA is a form of advertising and can be found by dividing the cost to the advertiser with the number of actions received on the ad. This advertising is considered less risk for advertisers than other advertising techniques because you only pay when you get a lead or a sale.
You can calculate your CPL by dividing your marketing spend by the total number of new leads. The CPL provides important data for your marketing investment calculation and tells you the price paid for acquiring new leads.
CRO: Conversion Rate Optimization
The CRO is the process of increasing the percentage of website visitors that convert to your site. It allows you to lower your customer acquisition costs by getting more value from the visitors and users you already have.
An advertising material intended to grab a viewer, reader, or listener’s attention and encourage them to perform a specific task. This task could be to buy something or click somewhere on your website.
CTR: Clickthrough Rate
The CTR is the percentage of people visiting a web page who access a link to an advertisement and reveals general trends.
DM: Direct Mail, or Direct Message (Instagram, Twitter, Facebook)
A private way of sending messages directly to another person or group of people through social media platforms.
QR Code: Quick Response Barcode
A machine-readable code consisting of black and white squares. QR codes are generally used for storing URLs or information that your phone can access quickly and easily through its camera.
RSS: Rich Site Summary
A format for delivering regularly changing web content. Rich Site Summaries allow you to easily stay informed by retrieving the latest content.
A way of software delivery and licensing in which software is acquired online through a subscription, rather than bought and installed on individual computers.
SLA: Service Level Agreement
A contract between a service provider and its customers that defines the standards for the services being done and states the agreement between the respectful parties.
SMM: Social Media Marketing
SMM is especially important in our present day because of how widespread social media is. When done correctly, social media marketing can tell consumers that your brand is active and focused on digital communication with clients. SMM is also important because it can increase customer loyalty.
SEM: Search Engine Marketing
A digital marketing strategy used to increase the viewing potential of a website in search engine results pages.
KPI: Key Performance Indicator
To know how your company or specific project is performing. There are different ways to measure your success and progress such as by revenue, conversions, etc. KPI’s should be tracked and monitored to see what your company is doing well, and what your company could do better at.
The price you pay for every click on your advertisement or content. Using a PPC model is a way to determine your CPC (cost-per-click).
SEO: Search Engine Optimization
This is an unpaid marketing tactic! A way to make your website, content, or pages easily found and seen by viewers. This includes keyword research, titles, descriptions, internal and external links, etc.
TOFU, MOFU, BOFU: Top of Funnel, Middle of Funnel, Bottom of Funnel
This is the process that a potential client goes through to, in the end, get to the final step of making a purchase or wanting your service. Top of Funnel indicates the information that a potential client finds about your website. Middle of Funnel means that a potential client has a greater intent or chance of purchase and may give you their information to become closer. The last process, the bottom of the funnel, is when a potential client is now ready to buy or contact you with the desire to receive your service.
We feel it is important to understand the role you are in and the words that are important to your field. In addition, these words can help you even if you are not in a content/digital marketing role, but you are working to grow your digital presence.