Important Marketing Acronyms + Terms

General Marketing Acronyms + Terms

• Customer Journey: the process a customer goes through from learn about your product to making a purchase
  • stages: awareness -> consideration -> purchase -> retention
• Buyer Persona: a detailed description of your ideal customer
• B2B: Business to Business
  • marketing between 2 companies
• B2C: Business to Consumer
  • Marketing directly to customers
• KPI: Key Performance Indicator
  • metrics used to measure the success of a campaign (i.e. website visits, sales, engagement, follower growth)

Digital Marketing Acronyms + Terms

• Content Marketing: creating valuable content (blogs, videos) to attract and engage audience
• SEO: Search Engine Optimization
  • strategy to improve a websites visibility in search engines
• SEM: Search Engine Marketing
  • paid strategies to increase search visibility (i.e. google ads)
• CTR: Click Through Rate
  • % of people who click on your link after seeing it
  • Formula: clicks / impressions x 100
• CPC: Cost Per Click
  • the cost you pay for each click in a paid ad campaign
• PPC: Pay Per Click
  • advertising model when you pay only when someone clicks on your ad
• CPA: Cost Per Acquisition
  • cost of acquiring a new customer through an ad or campaign
• ROI: Return on Investment
  • measures profitability
  • Formula: net profit/cost of investment X 100
• ROAS: Return on Ad Spend
  • how much revenue you earn for every dollar spent on ads

Social Media Acronyms + Terms

• Engagement Rate: the % of people who interact with your social content
• Impressions: the number of times your content it displayed to users, regardless of if they interact with it
• UGC: User Generated Content
  • content created by customers or followers
• SMM: Social Media Marketing
  • using platforms like IG, TikTok and FB to promote brand
• DM: Direct Message
  • private communication between users on social platforms
• CTA: Call to Action
  • encourages users to take a specific action (i.e. shop now)

Email Marketing Acronyms + Terms

• Open Rate: % of recipients who open your email
• Drip Campaign: a series of automated emails sent based on user behavior or time
  • (i.e. sending a welcome email series to new subscribers)
    
• Segmentation: dividing your email list into smaller groups based on interests or behaviors
• Bounce Rate: the % of emails that could not be delivered
• CRM: Customer Relationship Management
  • tools to manage customer interactions (i.e. Salesforce, HubSpot)
• CTR: Click Through Rate
  • % of recipients who click on a link in your email
• CTO: Click to Open Rate
  • % of recipients who open the email and click on link
• ESP: Email Service Provider
  • platforms for email marketing (i.e. Mailchimp, Klaviyo)
• CMS: Content Management System
  • platforms to create and manage digital content (i.e. Wordpress, Shopify)

Analytics Acronyms + Terms

• Bounce Rate: the % of visitors who leave your site after viewing only 1 page
• Funnel: the steps a customer takes from learning about your product to purchasing it
• GA: Google Analytics
  • a free tool to track web traffic, user behavior and conversions
• LTV: Lifetime Value
  • the total revenue you can expect from a customer over their relationship with your brand
• CAC: Customer Acquisition Cost
  • the cost to acquire 1 customer
  • formula: total marketing costs/number of new customers
• AOV: Average Order Value
  • average amount spent per order
  • formula: total revenue/number of orders

E-Commerce Acronyms + Terms

• Conversion Rate: the % of users who complete a desired action, such as purchasing
• Cart Abandonment Rate: % of users who add product to their cart, but don't complete the purchase
• Upselling: encouraging customers to buy a higher priced product or add ons
• Cross Selling: promoting related products to customers
• SKU: Stock Keeping Unit
  • unique identifier for inventory management
• POS: Point of Sale
  • system for processing in store or online transactions
• CLV: Customer Lifetime Value
  • emphasizes long term customer profitability

A/B Test

• Method of comparing 2 versions of marketing assets to see which one performs better
• How it Works
  • create two variants: version A (original) and version B (modified version with 1 key change)
  • split the audience: divide audience into 2 groups randomly and evenly
  • run the test simultaneously: ensure the test runs at the same time to avoid external factors (i.e. time of day)
  • Measure performance: track a specific KPI
• Examples of Elements to Test
  • E-Blast: subject line, sender name, CTA text or placement, email layout
  • Website: headline, button colors or placement, product images, page layout
  • Ads: visuals, ad copy, target audience segmentation, ad placement (stories vs feed)
  • Social: caption style (short vs detailed), image types (lifestyle vs product focused), hashtag usage