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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

 

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