9 Acronyms Every Marketer Needs To Know
Like it or not, the Digital Marketing Company runs on a system of jargon, acronym, shorthand terms! And, you’ll need to command a deep knowledge of these acronyms to avail the best benefits of digital platforms. If you are familiar with these terms, it becomes quite simple and easier to dominate the conversation. But if you don’t, it can cost your business results and often lead to pitfalls like embarrassing lack of comprehension when your client is talking about something or you may found yourself in a fumbling tone.
So, make sure you haven’t missed these important acronyms. To help you master the digital advertising world, Enqodle has compiled a list of the most-used acronyms that come across regularly. Just go through it!
KPI: Key Performance Indicator(s)
The first step of any digital advertising company is to determine the goals & the success metrics of your plan to measure. You can rightly say that KPI is the key metrics you plan to measure. It’s your KPI which indicates how much you have planned, and how much you gained with your strategies. They are the best indicators for your business growth.
CPM: Cost Per Thousand Impressions
It is an alternative to the PPC method of paying for advertisements. It is a pricing model where you pay a given amount per 1,000 ad impressions or every time your ad is displayed 1,000 times. With this, advertisers pay when their ads is shown, not clicked. To increase brand awareness, it is surely an effective method for digital marketers.
CPC: Cost Per Click
It’s your cost for each click, your posted ad receives. Always keep in mind that click is not unique to the person taking action. If any person clicks your ads for 3 times, you will be charged for 3 clicks. Total cost is determined when Clicks is multiplied with CPC.
PPC: Pay Per Click
This works same as CPC, but another acronym is being used interchangeably. Of all the digital marketing terms, it is the most general terms. It is mostly used to describe ads on digital platforms like Google, and Facebook, but doesn’t clearly define what type of ad.
CTR: Click Through Rate
The ratio between how many times your ad was clicked to how many times it was displayed is defined as CTR. It is represented in percentage, each ad type (display, search, social) will all have different CTRs. Your overall strategy will give you an idea if a high CTR is a metric by which to define your ads.
CTA: Call to Action
Your call to action is your “request”. It guides users to take the next step after seeing your ads. For instance, “Book Now”, “learn more”, “Call now” etc.
ROAS: Return on Ad Spend
A metric is calculated by dividing the revenue generates from an ad campaign by the cost of that campaign.
ROI: Return on Investment
It is a success metric which determines how profitable a campaign or tactic is. It is commonly calculated as gain from the investment(sales) minus the cost to the investment divided by the investment cost. For a Lead Generation Company, it is imperative to estimate ROI to check out whether you are on the right path or you need some improvement.
CPL: Cost Per lead
CPL model means that you are paying for only those leads that are delivered to you through the ad campaigns. For example, a user fills out a form, subscribe to your blog, or provide an email address to receive more information. The CPL cost model is very competitive and it does not guarantee to deliver in full.
These are some of the most used and popular acronyms that you must know for a clear understanding of the digital marketing world. Other than these, there are many acronyms and terms you must familiar with to achieve the best results. As we all know, new acronyms regularly pop up, so continually work to learn these emerging marketing terms that can help you in promotional efforts. In a nutshell, we can only say to STAY AHEAD among all, don’t forget to learn essential ACRONYMS. You can also hire Enqodle who is counted as the best digital marketing company in Dwarka. We make sure that our clients get full information about digital platforms so that they can only achieve success and business growth!
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