Whether it’s the latest celebrity couple, the coolest new car, or the winning sports team, we’re often more captivated by mainstream topics and trends than we might like to admit. When it comes to promoting your business, you may notice that trending strategies, phrases, and content are dynamic and often challenging to keep up with.
The good news is that you don’t need a marketing degree to get to the core of what your customers want. By understanding just a few key marketing ‘buzzwords,’ you can develop a foundation to rely on, even as trends evolve. This week’s blog will coach you on key acronyms that will help you navigate the world of marketing with confidence and clarity.
Digital Marketing Acronyms to Elevate Your Strategy
SEO (Search Engine Optimization) is the process of enhancing your website to increase its visibility on search engines. As your visibility improves, your site will receive more visits, ultimately resulting in more sales. Maintain your website’s SEO by regularly updating content, using relevant keywords, and offering relevant visuals. Begin your SEO journey today by diving into a free SEO report from BPM.
CRM (Customer Relationship Management) involves all techniques a company uses when interacting and maintaining correspondence with their customers. These processes are understood and followed by all members of an organization. In today’s digital age, many companies are using software to help streamline the processes and keep track of important data. If you think CRM software might benefit you, check out HubSpot, Pipedrive or Salesforce.
UX (User Experience) considers all components of a user’s journey through your digital content. By making the experience seamless, your customers will be at ease throughout the interaction. Conduct a test by putting a colleague in the shoes of your ideal customer. Walk them through the desired course of action to identify any obstacles, so you can address issues before your customers encounter them.
Essential Acronyms for Understanding and Improving Your Marketing Performance
CPC (Cost Per Click) is a pricing model that sets the cost you pay for each click on a digital advertisement. While conversion rates can be higher with this approach due to precise targeting of specific keywords and demographics, the primary advantage of CPC advertising is cost control. You only pay when someone clicks on your ad, making it budget-friendly. By setting a maximum cost per click, you can manage expenses and maintain a sustainable budget.
ROI (Return on Investment) measures the profitability of an investment by dividing the profit generated by the cost of the investment. In marketing, ROI helps evaluate the effectiveness of different tactics and campaigns. By comparing ROI across campaigns, you can determine which strategies are most successful and which ones need adjustments for improved performance.
CTR (Click-Through Rate) is the percentage of people who click on a link, such as an advertisement, link in an email, or search engine result, compared to the total number of people who view the link. It indicates how compelling your content or offer is in driving interest and engagement. A high CTR suggests that your content resonates well with your audience, making it a crucial metric in assessing and optimizing your marketing and SEO strategies. By analyzing CTR, you can identify what attracts your audience’s attention and refine your approach accordingly.
The best place to start is understanding the basics. Building this foundation will set you up for continued success and increased customer retention. Continue to grow your marketing glossary by keeping up with BPM’s social media and Baer Necessities blog, where we are continuously sharing the trends and latest ‘buzz.’
Contact us today for a free consultation and let us help make your brand the latest buzz in your industry.
