That Everyone in the Industry Must Know
Though digital marketing is all about advertising, words make up a big part of those ads, and letters make up those words. In fact, there are lots of letters involved in the industry that act as abbreviations and are used by many people who work in the field. We’ll go over ten of the most important abbreviations you should know and in what context to use them.
PPC = Pay per Click
PPC is a type of Internet marketing in which advertisers pay a fee each time one of their ads is clicked. It’s basically a way of buying visits to your site rather than having to wait to earn them organically. One of the most popular forms of PPC search engine advertising. Advertisers bid on ad placement in a search engine’s sponsored links when someone searches on a keyword that is related to their business offering, thus hopefully bringing your site to the top of the page. Every time your ad gets clicked and a visitor goes to your website, you have to pay a small fee to the search engine. If PPC is working correctly, the fee should be quite small since the visit itself is worth more than what you pay for it. An effective PPC keyword list should be relevant, up-to-date, and expansive.
CPC = Cost per Click
CPC refers to the actual price you pay for each click in your PPC (Pay per Click) marketing campaigns. A click represents interaction of some sort with the post. The two most important factors involved with determining your CPC are the audience you want to appeal to, and how much you’re paying. CPC determines the financial success of your paid search campaigns, so it’s important to know its figure. The average CPC cost varies, but it’s typically around $2.00. A low cost CPC is key to running a successful PPC and campaign.
CPA = Cost per Acquisition
CPA is a marketing metric that measures the aggregate cost to acquire one paying customer on a campaign or channel level. It’s used to measure the revenue impact of the entire campaign, so it’s necessary to know its figure. The calculation for it is Total Campaign Cost divided by the number of conversions. CPA can be used in PPC marketing campaigns as well as others. CPA is a vital component to your business’s success, so knowing how to calculate and apply it is important.
SEO = Search Engine Optimization
SEO is the practice of increasing both the quality and quantity of website traffic, as well as exposure to your brand, through non-paid, or organic, search engine results. The success behind SEO is based on how well you know your audience. You must be able to anticipate what they will be searching for, what they want, how they will word their search. If you don’t have these answers, return to the drawing board before going any further. It’s important because while paid advertising, social media, and other online platforms can generate traffic to websites, the majority of online traffic is driven by search engines. So by working on creating a larger presence on search engines such as Google, it brings arguably better, more organic results, reaching to a larger audience.
SEM = Search Engine Marketing
SEM is the opposite of SEO, though they both fall under the same umbrella. When it comes to SEM, rather than earning organic traffic, you have to buy traffic through paid search listings instead. It should be focused on keyword marketing or PPC advertising. This technology enables advertisers to bid on specific keywords or phrases and ensures ads appear with the results of search engines.
B2B = Business to Business
B2B marketing refers to the techniques and best practices used by companies with products and services sold to other businesses. In other words, it’s all about businesses understanding other businesses’ needs. That being said, their marketing strategies are typically crafted to leave an impact on potential business customers to show them how your product will enhance their business. Building a successful B2B marketing strategy takes thoughtfulness, planning, and patience.
B2C = Business to Consumer
B2C refers to the tactics and strategies in which a company promotes its products and services to individual people: creating, advertising, and selling products for customers to use in their everyday lives. So while B2B is all about selling services to other businesses, B2C is all about the details behind the process. B2C is generally quicker and more impulsive than B2B. Successful B2C campaigns typically trigger emotional reactions or responses, while B2B campaigns focus on offering immediate and lasting value.
CPL = Cost per Lead
CPL is an online advertising pricing model where the advertiser pays for a sign-up from a consumer interested in the advertiser’s offer, meaning that you are compensated for any clicks or interactions you receive. In order to receive the full compensation, however, the consumer must take further action, such as signing up for a newsletter. People also refer to it commonly as lead generation.
PR = Page Rank
PR is an algorithm used by Google to rank web pages in their search engine results. It’s a way to measure out the most important pages to the least important ones. According to Google, “PageRank works by counting the number and quality of links to a page to determine a rough estimate of how important the website is. The underlying assumption is that more important websites are likely to receive more links from other websites.” Though there are other algorithms used by Google, PR is the first one and was named after Larry Page, one of the co founders of Google.
AI = Artificial Intelligence
AI is the intelligence that derives from machines as opposed to things found in nature. As machines become more advanced, they are used for a number of different things, and that includes digital marketing. AI will help us get more information from businesses and find out what people need, and they will be able to do it for us so we won’t have to. While this industry increases, so does AI, and both will soon work hand in hand.