Do you understand the IM TLAs?

Hi Brian here, and here we go again. Do you find the marketing jargon confusing? All those Three Letter (and more) Acronyms. Finding it hard to keep up? Well, having a look at some of the more common ones below. Are you taking action this year? Let me know how you are doing, what are your stumbling points.

Whats been happening?

Some more behind the scenes web updates have been done. The newsletter will start up again early in February.

The masterclass, the training membership is coming along well, the first three subjects are nearly ready for the launch. Need to get the follow up subjects further advanced before the launch. More details will be included in the newsletter.

Have you signed up for the newsletter?

Twins update, the inevitable cold has caught up with them. Coughing and snuffles all round. One has been affected more so, with a brief stay in hospital.

All is now well though.

Here are some common acronyms

Let us take a look at some of the common marketing acronyms, or TLAs. This is not by any means an exhaustive list, just some of them I came across when starting out. I shall give you the abreviation, then what it stands for and finaly a brief explanation. Keep this for future reference.

AOV Average Order Value

Average of the total order value for the whole year (typically), divided by the total number of orders over the same period.

B2B Business to Business

A business selling goods or services to another business.

B2C Business to Customer

A business that sells goods and services directly to a customer.

BOFU Bottom of Funnel

Refers to people in your sales funnel. Those at the bottom of the funnel have interacted with you and most likely to buy from you.

BR Bounce Rate

A calculation based on the people that interact with your website. The percentage of people that leave your website after viewing a single page.

CMS Content Management System

The platform that serves up digital content to your website or social media profile.

CPA Cost per Acquisition

The cost of acquiring a buying customer through a campaign or channel (as opposed to a lead). What you pay the agency for each paying customer found.

CPC Cost per Click

A costing used for paid media, based on each individual click in the advertising campaign.

CPL Cost per Lead

Cost of acquiring a new lead via a specific campaign or channel. A potential customer, email sign up.

Squirrel in the snow

CPM Cost per Thousand

The cost of 1000 advert impressions for a particular campaign.

CR Conversion Rate

The ratio of number of people who convert (buy) compared to those look (choose not to buy), as a percentage.

CRM Customer Relationship Management

Management of the customer relationship, from the initial queries through sales and any complaints. 

CTA Call to Action

What you want a reader to do after reading/watching your advertisement or article.

CTR Click Through Rate

The percentage a people when presented with a CTA actually click on the link.

GDPR General Data Protection Regulation

Regulation enacted on 25 May 2018 by the European Union to protect data and privacy.

GDN Google Display Network

Websites that can display your adverts, an extended option when using Google Advertising.

MOFU Middle of Funnel

Refers to people in your sales funnel. Those in the middle of the funnel, know you but are not yet ready to buy.

PPC Pay per Click

A form of paid advertising where a fee is paid every time an advert is clicked

SEM Search Engine Marketing

Typically refers to marketing activities involving the use of search engines (paid or organic).

SEO Search Engine Optimisation

A proactive, structured approach used to improve a company’s position in a search engine’s organic results listings for the key words you target. The aim to increase awareness and drive visits to a site from new prospects and existing customers.

SERP Search Engine Results Page

The page displayed after doing a search.

TOFU Top of Funnel

This refers to people in your sales funnel. Those in the top of the funnel are aware of your brand, but do not know you yet. They are still learning and not ready to buy.

Well, I think that is enough for now.

Acronyms, not a very interesting subject in itself I must admit. But, it is very necessary for your understanding once you start reading into the subject.

All the best

Brian

PS Leave a comment below….