Acronyms: They’re everywhere these days, making it even more difficult to keep up with a never-ending list of terms and information.
For those who aren’t as familiar with the marketing industry firsthand, understanding and remembering these acronyms can feel like a drag. But don’t fret, that’s why we’re here!
Have you heard these common terms?
A good marketing partner provides information. A great marketing partner works with you to understand the concepts behind the information. That’s what this quick read is all about.
Keep scrolling for today’s top marketing industry acronyms you and your team need to know and a high-level explanation about what each one means for your business.
- B2B – Business-to-Business
Any company that sells to or sources for another company, in which commercial transactions take place, is considered a B2B business. Think manufacturers, logistics, marketing, etc.
- B2C – Business-to-Consumer
Any company that sells directly to the mass market (individual consumers or consumer groups) is considered a B2C company. Think restaurants, retail stores, hotels, etc.
- ABM – Account-Based Marketing
Account-based marketing is a highly-targeted, process-driven approach to engaging with and landing key accounts. It utilizes a multi-step process with personalized touchpoints to target and close key B2B accounts (yes, this is only suited for B2B companies).
Put simply, ABX (Account-Based Experience) is an extension of ABM. It focuses on the complete customer experience and ways to grow each account. You can learn more about both strategies here!
- SERPs – Search Engine Page Results
Search Engine Page Results are “the pages that a search engine displays to a user after they conduct a search.”1 Typically, the first few are paid ads, followed by organic results.
- SEO – Search Engine Optimization
SEO is a measurable process that helps improve visibility for your business in search engines. Continuous SEO improvement and performance monitoring tools like Google Analytics, Google Search Console, or third-party position tracking software can help brands maximize their organic search value.
- SEM – Search Engine Marketing
SEM uses paid advertising to ensure a business’s products or services appear on search engine results pages. This marketing tactic is especially great for garnering attention from potential customers who are actively searching the web for a product or service in your industry.
- UX – User Experience
In the web world, good UX equates to an easy, enjoyable experience for online users. This term is used in web development, design, and web-based applications. UX could also refer to the complete experience a buyer has with a product, service, or brand.
- CRM – Customer Relationship Management
Customer Relationship Management is just what it sounds like: the process of managing and strengthening your relationship with customers. A CRM tool, on the other hand, is software that stores your sales information. It’s essentially a one-stop shop for sales teams managing multiple moving parts during the prospecting phase.
- PPC – Pay-Per-Click
PPC (pay-per-click) is a commonly used method of digital marketing for gaining clicks on online advertisements in which you pay per each individual click on an ad. CPC (cost-per-click) is a metric under this umbrella that’s used to measure how much each individual click costs your business.
- CTR – Click-Through Rate
A click-through rate (aka “click rate”) is a term commonly used in web-based and email marketing. It refers to the ratio between the number of people who viewed an ad and the number of people who clicked on the ad or corresponding link. CTR can be a great metric for determining the success of a specific ad or campaign.
- ROI – Return on Investment
ROI is a term on many business owners’ minds. This metric refers to the ratio between your net income and your total investment. When analyzing the effectiveness of a marketing campaign, ROI is the remaining profit after factoring in costs and expenses.
- DNS – Domain Name System
All devices with access to the internet have an IP address (unique identification number). The internet’s Domain Name System is essentially a way of storing and managing these IP addresses. Once a user types a domain name into their web browser, DNS servers will then help determine where they are taken.
- WOM – Word of Mouth
Word-of-mouth occurs when one person communicates information to another. In business, it is recognized as one of the most cost-effective forms of marketing. But contrary to popular belief, generating positive word-of-mouth isn’t exactly free. It’s the result of multiple touchpoints, messages, and experiences that make up your entire brand image and reputation.
- CTA – Call to Action
Call to actions are exactly what they sound like: short, actionable statements—often clickable buttons or links—that motivate your viewer to make the next move. The best CTAs are simple, but enticing. They don’t necessarily need to be unique or memorable, but they do need to be compelling and clear. A good CTA leaves no room for ambiguity and highlights the benefits the visitor has to gain from clicking.
Bonus! Here’s a few general business acronyms that might come in handy when communicating with your marketing agency or partner…
- SWOT – Strengths, Weaknesses, Opportunities, Threats (common in market research)
- SOW – Statement of Work
- YTD – Year-to-Date
- OOO – Out of Office
- EOD – End of Day (or EOW for End of Week)
- WFH – Working from Home
Want to learn more?
These days, there seems to be a revolving door of information to be learned in the marketing and advertising world. We’re here to help our clients keep up with trends and information by serving as an extension of their internal team with an open line of communication.
Ready to take your team to the next level with a marketing partner that truly cares about your results? Let’s chat to see how we can help you thrive with need-to-know insights like these!
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