10 Marketing Abbreviations Every Pro Should Know!
Everyone knows Australians are notorious for shortening words, but when it comes to learning the language of marketing? That’s a whole other world! Don’t be left scratching your head over what ‘PPC’ or ‘CTA’ mean – ensure you’re a marketing lingo pro!
10 common marketing abbreviations and acronyms
1. CPA – Cost per action
CPA refers to ‘cost per action,’ and is an internet model used by advertisers to discover which ‘actions’ are generating the smallest or largest portion of their spend. Specified actions can vary, and may refer to a ‘click,’ a sale, or submitting a form.
2. CPC: Cost-per-Click
Similar to CPA, but more specified, is CPC – ‘cost per click’. This allows advertisers to choose a certain amount of money that they are willing to pay each time a customer clicks on their ad. CPC is used in conjunction with PPC (pay per click) campaigns.
3. CR: Conversion Rate
Put simply, CR refers to the percentage of people who have performed a certain action on a webpage – or ‘been converted’. An example of a conversion could include filling out a form, clicking a link to subscribe, or downloading software (among many options).
4. CPL: Cost-per-Lead
Referring to an online advertising payment model, CPL is a term that centres around the amount of money it costs for your organisation or business to generate ‘qualified leads.’ It also refers to the amount of revenue received by the publisher who has created that lead.
5. CTR: Clickthrough Rate
The click through rate refers to the percentage of people who are ‘clicking through’ from one step of your marketing campaign to the next; measuring the number of advertising clicks per number of impressions.
6. PPC: Pay-per-Click
To get more customers, a business will often pay a marketing solutions company / publisher a certain amount of money for each ‘click’ that their ad gets. In the advertising world, ‘Pay Per Click’ is often an essential way of ensuring that your advertising comes up when a customer searches a certain keyword; and makes sure that you get that top spot on the homepage of Google.
7. CTA: Call-to-Action
When a customer comes to your website, you want them to have a clear idea of what they are there for. Having a ‘call to action’ is essential, and could be anything from an ‘add to shopping cart’ icon, to a download link or ‘subscribe today’ button. Essentially, it’s a button or a text/web link that encourages them to do something.
8. NPS: Net Promoter Score
The Net Promoter score is a survey based customer satisfaction metric, that measures on a scale of 0 – 10, how likely a person is to recommend your company to another. In order to calculate your NPS, you simply subtract the percentage of customers who don’t recommend your business from the percentage who do.
9. UX: User Experience
UX refers to the overall experience that a customer has with your business. From their initial discovery of your company/product, to their experience with your website, the purchase process and their post-purchase experience, it’s vital that your customer experiences the best customer service possible. To deliver this, we need to make sure we always keep the ‘UX’ in mind.
10. YoY: Year-over-Year
YOY – a marketing term referring to the financial changes that have occurred in respect to the previous year.