20 Marketing Acronyms Every Marketer Should Know
Technology is rapidly changing the ways that business is done. As a marketer, it is critical to stay up-to-date on new processes and technologies in your industry to understand your market as well as gain a possible advantage over your competition.
Here are 20 marketing acronyms related to processes and technologies that every marketer should know:
- CPL (Cost Per Lead) – An online business model used in performance advertising where a publisher is paid based on the number of leads generated.
- CR (Conversion Rate) – A percentage measurement of a specific action taken by a customer, which positively affects your business.
- CTR (Click-Through Rate) – A percentage measurement of the number of actions taken by visitors after interacting with your content. For instance, if your ad is served to 1000 people, but only 100 of them click on it, then your CTR will be 10%.
- CPC (Cost Per Click) – The amount that you pay each time someone clicks on your ad.
- ROI (Return on Investment) – The profit resulting from the costs incurred for a marketing campaign.
- CRO (Conversion Rate Optimization). The process of tweaking your website to improve the chances of users completing the desired action.
- SaaS (Software as a Service) – A software distribution model where a third-party offers other businesses the functionality of specific applications over the internet.
- API (Application Programming Interface) – A code that enables communication between two or more programs.
- CAC (Customer Acquisition Cost) – The cost a business incurs to convince a customer to buy its product or service.
- CLV or CLTV (Customer Lifetime Value) – A prediction of the total profit that will result from the future relationship with a customer.
- CX (Customer Experience) – A customer’s perception of a business after interacting with it in some way, e.g., after using its products.
- SWOT (Strengths, Weaknesses, Opportunities, and Threats) – A framework used to analyze the competitiveness of a firm by gauging both internal and external factors.
- UI (User Interface) – This is any visual element on technology hardware or software that a user can interact with.
- MRR (Monthly Recurring Revenue) – A reliable amount of income that a company can anticipate to receive every month from all its customers.
- B2B (Business to Business) – A business model where a company sells its products to other businesses rather than retail customers.
- B2C (Business to Consumer) – A business model where a company sells its products directly to the customer rather than to other businesses.
- CRM (Customer Relationship Management) – The software used to analyze and oversee customer interactions with a business and uncover ways to improve the customer experience and a company’s profits.
- CTA (Call-to-Action) – This is a message that encourages a reader to make a move by doing a requested action. The message may be in the form of text, a button, a popup, etc.
- KPIs (Key Performance Indicators) – These are measures used to gauge the success of a particular marketing strategy. The KPIs are milestones that are determined before the start of a campaign.
- SEO (Search Engine Optimization) – These are tactics used to improve the visibility of your website on search engine results pages.
There we go, the top 20 marketing acronyms you should know. Which ones did we miss?