So many abbreviations!
It can actually be quite overwhelming, I know when I was introduced to marketing, I’d just smile and nod when someone dropped abbreviations into casual conversation. So, to remove some of your confusion, I’ve made a list of a few marketing-related abbreviations.
CTR – Clickthrough Rate
Usually expressed as a percentage, clickthrough rate refers to the number of clicks on an advert divided by the number of ad impressions. CTR only measures the number of people who accessed the website through that specific ad, it does not include the people who accessed the site another way as a result of seeing the ad.
CTA – Call to Action
A message to a customer that persuades them to perform a certain action immediately e.g., ‘Buy Now!’ or ‘Book Today!’. Call to action is used to improve response rate instead of the customer moving on and getting distracted by other things.
CXM – Customer Experience Management
Managing the customer experience and customer engagement across digital and non-digital touchpoints including web, mobile and social digital platforms, in-store and by call-centres.
KPI – Key Performance Indicator
Key measures that allow the organisation to assess whether they are achieving their objectives. Depending on the objective, this can include measures such as sales, bounce rate, unique website visitors, repeat business.
ROI – Return on Investment
A measure used to rate the value received from a particular business activity compared to the initial costs.
ROAS – Return on Ad Spend
A metric that measures the amount of revenue your business earns for each dollar it spends on advertising. Realistically, ROAS is equivalent to ROI.
B2C – Business to Consumer
A business that sells goods or services directly to the end-user, avoiding third parties or middlemen.
B2B – Business to Business
A business that sells goods or services to another business. The receiving business usually then supplies goods or services to the end-user utilising the purchases from the original business.
PPC – Pay per Click
A form of advertising displayed when keywords are entered into a search engine. The business pays a fee each time the ad link is clicked.
SEO – Search Engine Optimisation
Increasing the ranking position of a business or its products in search engine listings. This can be done through keywords or content quality.
SMO – Social Media Optimisation
Creating effective content on social media sites to attract visitors and engage audiences to interact with content.
You’ll get used to it!
We appreciate that it can be overwhelming for people just getting familiarised with marketing terminology to learn all of the acronyms. However, with time, you’ll know what each of these mean.
We genuinely get put off when we see other agencies using acronyms heavily, which is why the Identity Agency doesn’t use them. I for one feel that marketing would be a better sector if we did away with them completely – maybe I should start a petition?
So, to summarise:
- Non-marketers, feel comfortable telling an agency you don’t understand an acronym
- Agencies, please stop using acronyms – they’re confusing your clients
Book a free one-to-one appointment with an Identity Agency consultant by getting in touch. Just let us know a time, and a member from the team will be in touch with you very soon!