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