Dissecting Marketing Jargon
Have you ever overheard a conversation, and even though the people were speaking your native language, you didn’t understand a thing? It brings to mind Marisa Tomei’s line in My Cousin Vinny, “It’s an industry term.”
Are you feeling overwhelmed by all the marketing jargon out there? It takes effort to stay on top of industry terms and buzzwords from CPC to CMS. This article will review some of the more commonly used terms, breaking down what they mean and how they shape today's digital landscape. We'll also provide valuable insights into why each is important for business owners and marketers looking to get ahead in their field. So grab a cup of coffee or your favorite snack – let's take a deeper dive into the world of marketing!
What does SERP stand for, and how is it used?
Have you ever heard of SERP? No, it's not a new type of energy drink or the name of a trendy clothing line. SERP stands for 'search engine results page. It's the page you see after typing a search query on Google or any other search engine. In essence, ranking high on a SERP is the ultimate goal for anyone looking to optimize their online presence. The higher up on the SERP a website appears, the more likely it is to get a click, and in turn, the more successful it will be. That's why businesses and websites put so much effort into Search Engine Optimization (SEO) techniques to improve their ranking on the SERP. The next time you search on Google, you’ll know the websites on the first page have mastered the art of optimizing their website on the SERP.
CRM vs. CMS
When it comes to managing your customer interactions and data, two commonly used acronyms are CRM and CMS. At first glance, they may seem interchangeable, but they serve different purposes. A CRM, or Customer Relationship Management system, is focused on managing and analyzing customer interactions and data throughout the customer journey. On the other hand, a CMS, or Content Management System, is focused on organizing and publishing website content. While both systems are important, understanding the differences will help you decide which suits your business needs. So, before you invest in one or the other, take the time to research and analyze which system will help you better serve your customers and ultimately grow your business.
KPI acronyms: CPC, CTR, CPM, CPA
If you delve into digital marketing, you'll likely encounter some confusing acronyms. KPI, CPC, CTR—what do they all mean, and how do they help measure the success of your marketing campaigns? Well, fear not, my fellow marketer. I'm here to break it down for you. KPI stands for Key Performance Indicator and is one measure of campaign success. KPIs give you a better understanding of how effective your efforts are.
Here are some common KPIs
- CPC—Cost Per Click, the amount you'll pay each time someone clicks on your ad
- CTR—Click Through Rate measures the percentage of people who click on your ad after seeing it.
- CPM—Cost Per Mille (Mille is a fancy Latin term for thousand) is what you pay per thousand impressions (or views) of your ad.
- CPA—Cost Per Action/Acquisition tracks the cost of each conversion, whether that's a sale, a form submission, or another pre-determined action.
Keep these acronyms in mind as you navigate the world of digital marketing, and soon you'll be speaking fluent KPI.
CTAs and where to use them
Another commonly used acronym in marketing is CTA. Calls to Action are an essential component of any marketing strategy. These powerful little buttons or links make all the difference in converting tire kickers into paying customers. But where is the best place to use them? The answer is anywhere your audience might be! From your website's homepage to your social media profiles, make sure your CTAs are visible and easy to find. But don't stop there—consider including them in your email signatures or even on your printed marketing materials. The goal is to encourage your audience to take the next step in their journey. So go ahead and get creative with your CTAs. With the right placement and wording, they will take your marketing efforts to the next level.
Feel confident in the digital marketing space
All in all, the world of acronyms for marketing can be daunting for the uninitiated. Hopefully, this introduction to common acronyms will help you on your way to digital success. SERPs, CRM systems, KPIs, and CTA’s are essential tools smart marketers understand and use in successful campaigns. Taking the time to understand these concepts will help you determine which strategies or tactics will enable your business to stand out from the competition and make a lasting impact on potential audiences. Good luck!