It’s fair to assume that if you are working with marketers, you read a decent amount of industry articles (or at least, you try to!). Maybe you browse Forbes a few times a week, or maybe you’re so information hungry you consume dozens of blog posts daily. Not to mention, you’re probably sitting in meetings and exchanging emails with people in the marketing field. And if you’re talking to them, you’ve probably already noticed that they use quite a lot of acronyms!
You might feel the need to get an “English to Marketing” dictionary so you can translate their jargon into a language you can understand. Or maybe you’ve considered hiring a translator to follow you around the office.
And these pesky acronyms aren’t going anywhere anytime soon. What’s more, they’re multiplying! And it’s important that you stay informed. You don’t want to be furiously Googling definitions throughout an important business meeting.
But do not fear, we’re here to ease you into learning the language of marketers. The next time you have to talk business with a marketing professional, you’ll be able to slide their lingo into the conversation like an expert.
So without further ado, here are 10 common marketing acronyms to add to your vocabulary:
CAC: Customer Acquisition Cost
The cost involved in getting a customer to purchase your product or service.
CPL: Cost Per Lead
The cost of acquiring a lead, but not necessarily secure a purchase. This is an important metric when determining your CAC.
CPA: Cost Per Action
The cost involved in getting a customer to perform a desired action. This could be as simple as a click or a view, or it can be a purchase. It all depends on what your KPIs (see, more acronyms!) are.
KPI: Key Performance
A measurement which indicates how a business defines its success, can be defined as page views, purchases, etc.
CR: Conversion Rate
The ratio of people who performed your desired action after reaching your landing page vs those who did not.
CPM: Cost Per Thousand Impressions
(Because M is the Roman Numeral for 1,000, get it?)
This refers to the cost per 1,000 times your ad is displayed on a page (each display is called an “impression”).
This is typically used when companies are trying to raise awareness for their brand, and less used when trying to increase engagement or generate leads.
CTR: Click Through Rate
The ratio of people who click on your ad after it was displayed to them.
CTA: Call To Action
An instruction for your audience to perform, such as asking those who view your ad to share it on social media, inviting them to visit your website, subscribe to a newsletter, etc.
ROI: Return On Investment
The profits or benefits you reap from what you invested in your marketing ventures.
SEO: Search Engine Optimization
Increasing and optimizing the traffic to your website by ensuring it shows up at the top of search engine results, loads faster, and performs better than all the other websites.
This is also referred to as “Organic traffic” and is a major factor in digital marketing.
Now you can confidently speak the marketing language with your newfound knowledge! Don’t be afraid to refer back to this guide if you need a little refresher. But we’re confident you will be fluent in no time at all!TALK TO US