No matter which industry you’re in, or what kind of service you offer — every business should have some basic knowledge when it comes to the most frequently used marketing terms. Due to the introduction of new platforms and strategic approaches to marketing, keeping up with the jargon can be complicated.
Chances are that you’ve already heard of the most common digital marketing terms — like PPC (pay per click) and SEO (search engine optimization). However, there are still a wide range of strange and unusual marketing terms out there that go unrecognized by all but the highly-experienced few. Following are just a few explanations to help non-marketers understand some of the latest marketing jargon.
1. ROI & CRO
The abbreviation “ROI” stands for Return on Investment, and it is one of the things marketers care most about when coming up with an online strategy. ROI determines the amount of profit that your campaign makes above your initial investment. In other words, if you invest $100 in a campaign and receive $50 back, your ROI will be at 50%. CRO, on the other hand, stands for “Conversion Rate Optimization“. CRO helps marketers to determine the efficiency of their calls-to-action and marketing campaigns, and determines what percentage of visitors are taking a desired action, or “converting” on a web page.
“Above the Fold” can apply to both content production and web-design. The “above-the-fold” segment of a website or webpage is the portion that is visible to viewers when the browser page first loads. Any part of the page that requires the user to scroll, on the other hand, is “below-the-fold”. This term is a holdover from print advertising, as above the fold used to refer to the top half of the front page of a newspaper.
In web-design, experts can adjust the way a screen displays on various platforms to ensure that the most important information always comes up above-the-fold. This often means using responsive design techniques and mobile optimized design. For content production, it means that the copy located at the top of the page should be compelling enough to convince the reader to continue further down the page.
Algorithms are a significant part of what goes into a successful search engine optimization strategy today Algorithms, in simple terms, are formulas made up of variables that appeal to search engines — determining where exactly your page will appear on search engine results pages. By employing analytical methods, marketers can enhance and improve their marketing strategy based on the results they obtain by studying search engine algorithms and patterns.
Algorithms are constantly updated by search engines, and it’s helpful for marketers and businesses alike to be aware of the latest changes to ensure that content remains optimized, and see improvement in results.
4. UX (User Experience)
UX, or user experience refers to the impression a user gets from a website — for instance, whether the page is pleasant and easy to use, whether they can navigate information easily, and how that information appears on screen.
Currently, only 55% of companies test and optimize their user experience. Making sure that your service, product, and website all deliver the best user experience possible could make a significant difference to the value attributed to your brand.
5. Personalization and Retargeting
It’s likely that you already know the meaning of the term “personalization”, but it’s particularly important to understand this word in relation to online marketing. Personalization in marketing refers to the steps businesses take in developing content and information tailored to a target audience. This concept can also extend even further — into the idea of re-targeting advertisement strategies.
Retargeting campaigns allow companies to deliver tailor-made advertisements to customers that have already shown interest in their website, brand, or product. By using a special code called “cookies”, retargeting campaigns follow users across the internet, serving as a frequent reminder of the items or pages they have recently viewed.
6. KPI (Key Performance Indicator)
A key performance indicator, or KPI, tracks the factors most essential to the success of an organization. These specific metrics allow companies to see the progress that they have made towards particular marketing goals. Each company has different KPIs, and they differ according to organization, ambition, and desired outcome. One of the most common examples of KPIs that online marketers use business is CAC (cost of customer acquisition).
With CAC, it is possible to determine a ratio between the cost of drawing a customer towards your business, brand, or product in the first place, and the lifetime value (LTV) of that customer in relation to profits for your company. Another similar management strategy that is gaining traction in the corporate world is the Objectives and Key Results (OKR) framework. With this in mind, it can be tempting to ask “should your business use OKR or KPI?”. Ultimately, the choice is yours to make, and will depend on a multitude of factors, so be sure to do as much research as possible before you commit to a decision.
Just like any area of expertise, digital marketing has its own collection of terms and buzzwords that – to the laymen – sound like a completely different language. If you want to stay ahead of the competition and keep up with the latest updates however, you need to find a way to stay on top of the game, and translate these terms for your own benefit.
Have you been confused by any of the terms used above? Leave a comment below if we’ve missed any of the most confusing jargon out there for you.
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