Acronyms are confusing, and the world of digital marketing is chockful of them. If you’re wondering how to start marketing yourself and your business, you’re likely doing a lot of research. Finding the right marketing firm isn’t easy, and understanding what we all offer can’t be easy either. You can’t go anywhere without seeing two or three different digital marketing acronyms on a web page or post.
We want to do law firms and small business owners a favor and create a one-stop spot for all the digital marketing acronyms that you need to know. We’ll break down what they stand for, their definitions, and how important they are. All of them are important, but some are more important than others.
Types of Digital Marketing Acronyms
To keep this list from getting out of control, let’s break them down into three categories: “Marketing and Product Types,” “Metrics,” and “Programs, Techniques, and Technology.”
Marketing and Product Types
These acronyms are the different types of ways you can market to your audience. Their differences are based on the medium they reach their audience through, or who their intended audience is.
- Business-to-Business (B2B): This means a business is marketing/selling its products or services to another business.
- Business-to-Consumer (B2C): This means a business is marketing/selling its products or services directly to consumers.
- Pay-per-Click Ads (PPC): Many online platforms like search engines (Google, Bing), social media platforms (Facebook, Twitter), and more let you post ads on their platforms, and then only charge based on how many people click on your ads.
- Social Media Marketing (SMM): If you post ads on social media platforms like Facebook, Twitter, or Linkedin, or use social posts on social media platforms to get your brand out there, this is social media marketing.
- Software-as-a-Service (SaaS): If you sell access to a piece of copyrighted software, your business model is SaaS.
- Word-of-Mouth (WOM): If you focus a portion of your marketing efforts on getting people to spread the word about your service or product, it is called WOM.
Metrics
To figure out what marketing efforts are working, there are metrics you can record and use. These metrics inform how successful your marketing efforts are and/or if they are worth more or less than they cost.
- Bounce Rate (BR): If you send a marketing message, the bounce rate is how many people were unable to receive your message. If it’s about your website or landing page, the bounce rate is how many people came to your website and didn’t click on anything or navigate the site.
- Cost-per-Action (CPA): When you use paid advertising on sites like Google, YouTube, or another online search engine or on a social media site, you can track its success and quantify the cost by paying based on a special event. Actions are when people click on your ads and complete a specific activity, such as a purchase, questionnaire, or something other than a contact form. If this is how you chose to quantify your ad price, you’ll pay for each of these actions.
- Cost-per-Click (CPC): Similar to CPA, this is when you use paid advertising, but you track its success and quantify the cost by paying per click. Clicks are when people click on your ad and are taken to your website.
- Cost-per-Lead (CPL): Similar to CPA and CPL, this is when you use paid advertising, but you track its success and quantify the cost by paying per lead. Leads are when someone clicks on your ad, goes to a landing page, and completes the contact form.
- Conversation Rate (CR): This metric takes the number of people who completed an action, or became lead, and divides them by the number of people who could have but didn’t. For example, if you use CPA, it could be the number of people who clicked on the ad but didn’t make a purchase. You can find a conversation rate if you use CPC, but it can be more difficult to find and properly utilize. If an action doesn’t require someone to give you some piece of information, then you are not converting people who likely do not have a conversion rate.
- Clickthrough Rate (CTR): This is the rate at which people see your paid ads, email blasts, text message marketing, or any other type of marketing material, and then click on the link in them. This doesn’t have to be through paid ads, but it is a metric that is commonly used in them.
- Customer Acquisition Cost (CAC): The CAC is the total cost it took to turn your new customer into a recurring customer.
- Key Performance Indicator (KPI): This term can refer to several different metrics. You decide which is worth the most to you based on what has helped you evaluate your ad spend and success the best. Then you use them to judge how well your marketing is doing. One of the most common metrics to use as a KPI is a CAC.
- Page View (PV): When someone visits a page on your website, this is a page view. It is considered a new page view even if it’s the same person going from page to page. It is also a page view when someone visits a blog post.
- Unique Visitor (UV): This is how many different visitors visit your website. If someone goes from one page to another, this is two page views, but one unique visitor.
Programs, Techniques, and Technology
Marketing software programmers, firms, and teams use many of the same or similar tools and techniques. There are umbrella terms for some of them, and some are ubiquitous.
- Application Programming Interface (API): This term refers to the series of rules that governs a computer software program. Not all software programs will give users access to manipulate and change the API, but some do so they get greater functionality out of it.
- Call-to-Action (CTA): This is a technique that’s used to call a potential lead or customer into action. It prompts a unique visitor to take the final step in the current sales funnel, whether that be to become a lead or make a purchase.
- Content Management System (CMS): This is a type of web application that makes it easier for less experienced tech users to create, edit, and manage their websites. This way someone doesn’t have to be a technological expert or hire one to create their own website.
- Customer Relationship Management (CRM): These software programs allow you to track nearly all actions and events on your website. You can track exactly what each unique visitor is doing. Some examples of actions you can track include emails, phone calls, deals, and more.
- Domain Name Server (DNS): This is a server that translates web addresses into IP addresses. If you have a website, you have one, but CMS programs can handle the background machinations of a DNS.
- Google Analytics (GA): This is one of the most popular CRM software programs available.
- Search Engine Optimization (SEO): This is the process of optimizing a website to appeal to the algorithms of search engines like Google, Bing, and more.
- User Interface (UI): Interfaces allow users to control a software application or hardware device intuitively.
Contact ENX2 Legal Marketing To Handle The Marketing Speak
There are so many digital marketing acronyms to learn and remember. But maybe you don’t have the time to learn everything about digital marketing, let alone the acronyms. What can you do when you need to focus on running your business?
You can call ENX2 Legal Marketing. When you have the marketing experts already on the case, you don’t have to worry about all the digital marketing acronyms and what they mean. You can focus on running your business and turning a profit. If you need help with your marketing, contact ENX2 Legal Marketing today. We’re happy and ready to help you.