With more acronyms than a sporting association, the world of marketing and tech can be confusing for even the most seasoned of digi-nerds. We too find ourselves getting lost in the ad-speak, and occasionally need to take a step back and start talking in real language again. For those of us that haven’t had to endure a bone-dry digital marketing unit at uni or an overpriced online social media course, we’ve compiled a list of the most used terms in the marketing world at the moment.
A is for API
Short for Application Programming Interface, an API is a piece of coding which acts as a liaison between two different websites. It essentially allows you to sync two difference platforms (e.g. websites) so that they talk to each other and display the same information. On a LENZO side, it allows you to link your own e-commerce store so that stock levels and prices are maintained. Notable Mentions: : Audience, AdWords and Algorithm, A/B Testing
B is for B2B
Business to Business and its inverse, Business to Consumer, are two terms that describe who you market your products/services to. If your product is relevant mainly to other businesses, you are a B2B business. If your products are mainly relevant to individuals, aka consumers, you are a B2C business. Some products are both B2B and B2C, e.g. bank loans, cars, flights, and cleaners. Notable Mentions: Backlink
C is for Conversion
Conversion is what happens when a customer converts. To be less obscure, this is when a customer completes a certain event tied to a business goal. For most businesses, this is a purchase, although it can also be an email signup, an enquiry, a subscription, or registration. The Conversion Rate is the percentage of total customers (this could be web visitors, store visitors, etc.) who convert.
Notable Mentions: CMS, Clickthrough, Call to action, Content and CRM
D is for Dynamic Retargeting
Ever been looking at a gorgeous dress on The Iconic then realised it was - sad tear - too expensive, and then left the site, only to view an advertisement for THAT EXACT TOP on Facebook? This is a form of Dynamic Retargeting. When you visit a website, it leaves a cookie (a technical one - not a real one) on your computer and tracks where you go after this. Google and Facebook can utilise this data to show you an ad for a product you’ve looked at but not bought. Whilst it’s mildly creepy for us, it’s actually not taking more information than it has since the start of the internet. It’s also a super helpful tool for marketers to close sales when customers take a long time to decide, or forget.
E is for EDM
Also known as Electronic Direct Mail, this is the newsletter you sign up for (or find yourself signed up for) from a business. Whilst most of us ignore the majority of these emails, it’s an incredibly helpful tool for businesses who want to directly communicate with their customers. There’s an art to a great EDM, one that people will actually open, read, and click through. It ties in with having good content, and making sure every communication point with a potential or existing customer is relevant, interesting, and useful.
Notable Mentions: Engagement, E-Com
F is for FMCG
AKA Fast Moving Consumer Goods. This is 'stuff.' Necessary or unnecessary (TBH I think my daily kombuchas are v. necessary), it’s the things we churn through. Covering Fashion, Beauty, Food and Drink, Cleaning Products etc. Basically anything you can get at Woolies. It’s not an investment, and what differentiates it from the luxury or considered-purchase-sphere us events professionals often work in, is the brand loyalties people develop, the time they spend making a decision to buy, and the frequency with which they purchase the products . Notable Mentions: Followers, Facebook, Favicon
G is for GA
AKA Google Analytics, AKA the god of the Internet, also Google AdWords. Google Analytics is the number one way for measuring your website’s performance. It allows you to see how any people are visiting your website, and more importantly, analyse the things that make them stay, leave, or make a purchase. This is tied to Google AdWords. Having GA set up allows you to do even fancier things with your advertising, as well as measure how much traffic is paid, and how much is organic. Notable Mentions: GIF, Gated Content, Geo Targeting, Goals, Guerilla Marketing
H is for Hashtag
You’d have to be living under a geothermic rock to not know what this is. However not many people understand how they actually work or how to utilise them. Hashtags act as big category markers – it’s social media’s way of grouping together relevant content. Whilst specific and obscure hashtags can help you gather images or posts from an event, in order to make your content more widely seen you’ll need to use general hashtags and categories. No hashtag is too #basic. Notable Mentions: HTML
I is for Impressions
Otherwise known as page views, this is the total number of times something has been viewed in a given period. Sounds simple enough? However, it includes repeat viewers – an important point to consider when analysing a page or post’s popularity. Unique impressions, unique page views, or reach is a better way to measure the number of people who have viewed a piece of content. Notable Mentions: Influencer, Inbound leads, Integrated marketing
Keep an eye out for Parts 2 and 3 where we'll delve into juicy topics such as LinkedIn, PPC and SEO