Digital marketing is becoming saturated with lots of different acronyms. However, what do they all mean? Follow our easy acronym glossary to help guide you think the sea of capital letters and shortened words.
KPIs are critical to any marketing strategy. The term stands for Key Performance Indicators. This essentially means that these are the benchmarks and metrics that you will measure the success of your campaign against. These should be influenced by your goals and objectives in order to align your marketing. Typical metrics may include website traffic, social media fans, lead-generation sign-ups, and many more.
PPC stands for Pay Per Click. It is a form of digital advertising. Digital advertisers, through programmatic advertising, bid for digital advertising space. They are charged for every ‘goal’ i.e. click. This style of advertising is being used across many different platforms including Facebook, Google, and Bing.
CPC vs CPM
CPC and CPM are the most common forms of pricing models used on PPC advertising platforms. CPC sets the goal as a ‘click’. CPC is determined by the bidding systems where different variants are considered such as a maximum bid. Alternatively, the monetary value of the advert can be placed on impressions as opposed to clicks. This is known as CPM. Although not based on unique views, CPM pricing models use the 1000 impressions as the goal.
The CTR is the click-through rate. This acronym can be applied throughout many places within the digital marketing platform, be it email marketing, social media marketing or PPC advertising. The CTR allows marketers to evaluate the popularity of a particular link. The CTR specifically is displayed as a percentage of the total views of the campaign.
In marketing, CTA is essentially an audience influencer. This acronym stands for ‘call-to-action’. This should be focused on what action you want your audience to take e.g. Follow us, or Click Here.
Determining your ROI is brand critical to ensure you’re receiving good value for money. It means ‘return on investment’. Your ROI is a percentage calculation that measures the efficiency of the investment into your marketing. This is figured by dividing the cost of investment by the profit generation and then multiplying by 100 to reach a percentage.
If you want to do well on search engines, SEO is a requirement. Standing for Search Engine OPtimisation, it impacts the visibility of your website through organic reach.
SERPs mean a search engine ranking position that is obviously affected by the success of your SEO. SERPs are the ranking results of a search engine when a particularly keyword is inputted that is relevant to your website.
The SOV is a calculation based on the percentage your advert is seen against your competitors’ advertisement. It represents the term Share of Voice.
UX has become increasingly more important in the changes to digital marketing and the purchasing journey of the consumer. This acronym means User Experience. The focus of UX is to ensure that your website is user-friendly and is advantageous to your visitor’s online journey.