Every industry has its abbreviations, slang terms, or acronyms that are standard for that specific niche group of people. There are a few areas that have more acronyms than marketing. In fact, sometimes talking to a long-term marketer can feel like you’re talking to someone in a foreign language. Fortunately, by learning just a few of these acronyms you will be on your way to full understanding.
BR – “Bounce Rate”
The percentage of visitors to a website who leave the site after looking at only a single page.
CPL – “Cost Per Lead”
Used especially frequently in online advertising. This is basically the online version of lead generation: how much it costs for a single potential customer.
CTA – “Call to Action”
A call to action refers to any piece of advertising that is asking or demanding that a visitor, viewer, or reader to take a specific action. “Buy Now,” “Click Here,” or “Call Today” are three examples of very common CTAs. Usually found at the end of a marketing pitch.
CRO – “Conversion Rate Optimisation”
Used mainly in Internet Marketing, this refers to the actions and systems put into place for increasing the number of visitors to a website who then become customers.
CTR – “Click Through Rate”
This is the mathematical percentage showing the % of users who take a specific action vs. the total number of visitors. If 5 out of 100 visitors to a website click on a “Buy Now” button, the CTR is 5%, for example.
GA – “Google Analytics”
Google’s set of free online tools to let you track keywords, traffic, and other parts of your website.
KPI – “Key Performance Indicator”
This is a picked out measurable that is used to analyze & evaluate the success or failure of a particular goal, campaign, or objective.
MQL – “Marketing Qualified Lead”
This is a lead from a potential customer who has actually already in some way, shape, or form has indicated some form of interest in your brand, product, or service. Think of this as an online version of a “qualified lead.”
NPS – “Net Promoter Score”
This is a total score acquired from multiple measured factors to come up with a general number representation of how strong a company’s relationship with their customers is. This is going to be very different and personalised from one company to another since many companies may have radically different things to measure as well as different measures of what constitutes success.
PPC – “Pay Per Click”
Sometimes referred to as CPC (“Cost Per Click”) this is a very common advertising model on the Internet where the company only pays when an online visitor actually clicks on an ad. The most famous version of this is Google AdWords, however many search engines, social media websites, and even individual websites use this model, as well.
ROI – “Return On Investment”
One of the most important marketing acronyms out there, and one that is very widely used across different industries, ROI refers to return on investment. Technically speaking this is the ratio between net profit and cost of your investment. More generally speaking, this means the positive profits and return you get from your advertising. Higher ROI is always better than low ROI. Recently, we’ve seen suggestions that video marketing is an up and coming method for a great ROI. If you’ve not yet seen how this can work, have a look at some of the video advertising produced by Fat Free Media!
Example: If you make $150 for every $100 spent on Facebook ads, your ROI is 50% for Facebook ads. If you make only $50 on Google ads for every $100 spent, the ROI for Google ads is -50%. Obviously this makes Facebook ads the far better ROI option in this example.
SERP – “Search Engine Results Page”
The page that pops up from Google, Yahoo! or other search engines after you type in a search. Usually only refers to the natural or organic results, not the ads that also come up.
SMM – “Social Media Marketing”
Just as defined – advertising done solely on social media websites.
SQL – “Sales Qualified Lead”
A potential customer or client that has been both researched and vetted, making them a very encouraging lead to eventually become a customer.
UX – “User Experience”
The overall feelings of a person, good or bad, after interacting with a website.
YOY – “Year On Year”
Comparing numbers of one year to the one previous to it.