We’ve discussed 10 of the marketing terms you should know, however there is a completely separate list of acronyms that is just as important (and just as confusing) if you’ve never been exposed to them. Acronyms are short, fun, and easy to remember, so they’re worth knowing and keeping in the back of your mind. Here are 10 marketing acronyms to add to your dictionary!
1. B2B
This acronym stands for “business to business.” It’s pretty much exactly what it sounds like: B2B companies are those whose target market for their products or services is other businesses. Examples of this could be marketing agencies looking for companies to represent (hint hint), paper companies selling to office supply stores, or any other business working with other companies.
2. B2C
In contrast to B2B, B2C stands for “business to consumer.” This refers to companies who want to get their products or services to individual consumers. For example, a restaurant is a B2C business because their product (food) goes directly to their clients.
3. CTR
CTR is the “clickthrough rate,” and this acronym is typically in reference to a website. The clickthrough rate demonstrates the amount of people who arrive on your website and then visit other pages within your site, as well as take any requested or advertised action. An example would be if someone came to your landing page, clicked the “contact” tab, and proceeded to join your email list. Thus, the amount of people who took the same or similar actions would make up the clickthrough rate.
4. CRO
CRO stands for “conversion rate optimization.” This is a very interesting concept, and it has a lot to do with web design. Essentially, the idea of CRO is to make your website enticing enough that it turns your viewers into customers. There’s a lot of focus on where the eye is drawn on your website and how to use the natural pattern of eyesight to draw in customers. In fact, it’s a pretty broad topic, and it even expands past websites.
5. KPI
KPIs are sort of like mile signs on the interstate – they show you how far you’ve gotten towards your goal. These “key performance indicators” show how a business’s content is doing as compared to industry standards; common forms of measurement include website views, blog traffic, and social media engagement.
6. PPC
PPC stands for “pay per click,” and it’s an acronym associated with digital ads and social media marketing. Any time someone clicks on your ad on Facebook or Instagram, that costs your business a certain amount of money. Therefore, this can be a super effective way to advertise if done correctly.
7. QR
You’ve probably heard of QR codes – you know, those little squares made of weird patterns that you scan with your phone? QR stands for “quick response,” and anyone who’s used one of these codes knows why. Each black-and-white square is encoded with a website, text, or other information and is a great way to advertise a business’s website, event, or product!
8. ROI
ROI stands for “return on investment,” and this term entails some math along with it. Essentially, this is a measurement of how efficiently you’re investing your money. ROI is tremendously important for businesses. Investopedia has a wonderful article to help ROI feel accessible to you!
9. SEO
SEO is a huge buzzword in marketing because it stands for “search engine optimization.” Basically, this is a measurement of how many keywords your blog or website contains, and how those keywords will allow your content to perform as compared to others. It also makes your content easier to search for, so it’s a great thing to be aware of as you market your business online.
10. UX
The acronym for “user experience” may be a little more difficult to guess. However, it’s one of the simplest ones of all. It essentially is a blanket term for a client’s history with a brand, from their first viewing, to the relationship with the business, to the end result of using their product or service.
While this isn’t a comprehensive list of acronyms in marketing, these are ones you will definitely hear and potentially even use in your day-to-day operations. Still feeling lost in all the letters? Don’t worry – reach out to us here at Blackwood Creative. We’re the experts in navigating online marketing, social media, and yes, even weird acronyms.
