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Basic Marketing Acronyms

Here's a quick list of acronyms you might hear us use from time to time. Hold on, it's long, and it's only a touch on all the acronyms around.

ARR: Annual recurring revenue. Revenue realized on an annual basis (at time of purchase), mainly for subscription-based billing

BOFU: Bottom of the funnel. Stage in a funnel where content / ads focus on conversions

CMS: Content Management System. Software application used to create and modify content. WordPress is one well-known example

CPA: Cost per acquisition. A metric to understand how much you spent on acquiring a new sale from a digital campaign (typically)

CPC:  Cost per click. Total Cost / Total Clicks

CRM: Customer relationship management. Software that tracks interactions with and interests of with current and potential customers e.g. Hubspot.

CTR: Click through rate. Total Clicks / Total Impressions (when people click on your ad to go to your website or perform an action)

CX: Customer experience. How companies go to market across channels to engage with customers.

DM: [Old School] Direct Mail. Marketing channel where tangible items are sent via postal service

DM: [new School]: Direct Message. Private message sent on a social media platform, such as Instagram

FB: Facebook

GA: Google Analytics

GDPR: General Data Protection Regulation. Privacy compliance legislation for the European Union. You need this if you are marketing to folks in the EU.

GMB: Google my business. System on Google for local businesses to claim and manage their Google Maps listing

IG: Instagram

KPI: Key performance indicator. Standards by which you measure success. Can vary.

LI: LinkedIn

LMS: Learning management system. A software application that manages educational courses

LTV: Lifetime value. Dollar value of a customer over the span of all their purchases (with you).

MOFU: Middle of the funnel. Stage in a funnel where content / ads focus on building greater engagement

MRR: Monthly recurring revenue. Revenue gained on a monthly basis, mainly for subscription-based billing

MVP: Minimum viable product

NPL: New product launch

PPC: Pay per click. Term referencing paid digital advertising industry, including Google and social advertising

PR: Public Relations. A company’s engagement with media and the public as a whole

ROAS: Return on ad spend. Revenue impact of advertising budget specifically

ROI: Return on investment. Ratio between the net profit and the original cost of investment

RT: Retweet. Sharing someone's tweet on Twitter.

SaaS: Software as a service. Software purchased on a subscription model and hosted centrally

SEM: Search engine marketing. Process of encouraging people to visit your website through paid digital advertising

SEO: Search engine optimisation. Process of making a website more relevant a user’s wants, which in turn helps your rank in Google

SLA: Service level agreement. In a lead management context, rules of engagement between sales and marketing for lead processing.

SMM: Social Media Marketing.

SMM Tool: Tool to plan and organise social media posts such as Later

TOFU: Top of the funnel. Stage where content / ads focus on initial engagement with target audience

UI: User Interface Design. The design of any front-end digital property or software (think website).

UGC: User generated content. Content generated by users on a program / app, for example an uploaded image on Instagram

UX: User Experience. How a person experiences and reacts to a brand, produce or service.

WOM: Word of Mouth.

WIIFM: What's in it for me (the customer)

 

And that's really only the start!

 

 

Category: Uncategorized

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