Marketing Buzzword Translator
Marketing Buzzwords are a fact of life. They normally come in acronym format when somebody is trying to justify their existence and could be one of the following: ROI, ROAS, KPI, CAC, MER.
A
A/B Testing:
Running two versions of something to see which performs better. If somebody suggests doing one, they either don’t agree with you, or don’t like you.
Attribution
The method of deciding which ad, channel or activity gets the credit. Clue. Social team always think it’s them,
C
CAC (Customer Acquisition Cost)
Marketing spend divided how many customers it create.
Click-Through Rate (CTR)
The percentage of people who saw your ad and clicked on it.
Conversion:
A miracle event, somebody you’ve marketed to does the very thing you wanted them to do.
Conversion Rate (CVR)
The percentage of the above.
CPA (Cost Per Acquisition / Action)
What you pay for each conversion.
CPC (Cost Per Click)
What you pay each time someone clicks on your ad. Otherwise known as extortion.
CPL (Cost Per Lead)
How much it costs to get somebody to fill out a contact from on your website or meta/linkedin form. Marketing spend/no of people.
CPM (Cost Per Mille)
The cost per 1,000 impressions in your ads. If it’s cheap, you can use this in an argument.
CRO (Conversion Rate Optimisation)
Making small changes to something to see if it has the desired outcome. Should be combined with A/B testing and KPI’s if you’re doing it properly, but more often than not will be a test in isolation with not enough data to know if it worked or not. Not for people who’s websites are designed by committee.
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F
Funnel:
The stages a prospect moves through: Awareness → Consideration → Conversion → Retention.
Funnel:
The stages a prospect moves through: Awareness → Consideration → Conversion → Retention. Except it’s not a funnel, because 95% of world don’t care about what you’re marketing. Even the ones you’re marketing at.
I
Impressions
The number of times your ad is shown on a given platform. Or who many times your webpage is shown in search console.
J
K
KPI (Key Performance Indicator)
A measurable goal you track to judge success, normally an acronym. Ignored by your boss until they have a meeting.
L
Landing Page:
The page someone “lands” on after clicking a link you’ve provided on a given platform.
LTV (Lifetime Value)
The total revenue a customer generates over its lifetime. An average of customer spend/time.
M
Machine Learning:
The parts of your marketing efforts that have fuck all to do with you, like letting the algorythm learn, Google ads, Meta Ads Learning periods for example.
MER (marketing efficiency ratio)
How much revenue you make as company divided my how much you spend on marketing. A tactic you use to justify your marketing spend when everyone else is messing up.
Move the needle
Make a difference. Never say this. It’s for linked in people.
P
Pixel:
A piece of code that tracks actvity so you can report back something is definitely not working
R
Remarketing / Retargeting:
Showing ads to people who didn’t do what you wanted them to do the first time.
ROAS (Return on Ad Spend)
Revenue generated from ads (for every pound I spend, I got 5 back) doesn’t factor in how crap your design or sales team are. default back to MER where possible.
S
Segmentation
Breaking your audience up into smaller groups by characteristics or something they have done. Something people want you to do for small audiences all the time thinking it will make a difference.
SOP (Standard Operating Procedure)
The Way you do things
T
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U
UTM Parameters
Tags added to URLs so you can track campaign performance. Occasionally you’ll be asked for one of these by somebody who thinks they know what they’re doing. They’ll use it to sound cool.