GLOSSARY OF MARKETING TERMS
GLOSSARY OF MARKETING TERMS
The marketing industry is full of terms and acronyms that can feel like an entirely different language. We want to help decode all that jargon! So, here’s a glossary of marketing terms:
Using cookies have become integral to most companies online marketing strategies. There are two types of cookies. First and third-party cookies. Cookies work by creating a bread crumb (or cookie crumb) trail of your activity through a web page. First party cookies only have access to your activity on their website. Third party cookies are not tied to one website and instead track peoples trail through the internet. Marketers use both to figure out their audience and retarget them.
CRO (Conversation Rate Optimization)
CRO is made up of two parts, the CR and the O, conversion rate and optimization. Conversion rate can be defined as the percentage of people who visit a web page and complete the desired action. For example, when a visitor clicks the call-to-action button to download an eBook, your conversion rate increased. Optimization is exactly what it sounds like, continually making something as effective as possible, in this case, its’ your funnel. So how can you optimize a conversion rate?
CTA (Call To Action)
CTA stands for call to action, and it’s the part of a webpage, advertisement, or piece of content that encourages the audience to do something. The CTA is what helps a business convert a visitor, or reader into a lead. Which ultimately is the goal of any marketing campaign: guiding your audience so they eventually make a purchase.
Call to actions can take a variety of forms as they fill many roles. They all however, prompt action. Here are some common examples: Sign up. Subscribe. Try for free. Get started. Learn more. Join us.
CTV (Connected TV)
Connected TV advertising refers to ads that are delivered to internet-connected TVs – for instance, via Hulu or Roku. CTV is increasing in popularity for marketers! Consumers are embracing these platforms so more and more ad inventory is becoming available. In fact, CTV advertising spend is expected to grow from $6.94 billion in 2019 to $8.88 billion this year, a 28% increase.
The specifies depend on what you need your funnel to accomplish. Some of the processes used are A/B testing, improving user on-page experiences, usability tests, and optimizing existing content.
Data deduplication, or deduping for short, is the process of eliminating redundant copies of data. Marketers usually use the term to refer to keeping out redundancies from mailing lists. Most of us have gotten duplicate mailers or multiples of an email, which is annoying. Not sending duplicates therefore is important to keep up your brand health and not waste money. So next time you go send something out, make sure it’s deduped!
Digital Audio Advertising
What is Digital Audio Advertising? It’s all the ads you get that are just sound. For example, any podcast, Spotify or Pandora ad is Digital Audio. It’s expected that Digital Audio Ads from just podcasts will surpass a BILLION dollars in 2021 and that the average American will spend nearly 90 minutes a day listening to streamed music or podcasts by 2022.
Digital audio ads are a great way to connect with consumers through a channel that they enjoy. And it is very cost effective, because the ad only plays if they are listening to music or a podcast.
Digital Out-Of-Home (DOOH)
Digital Out-Of-Home (DOOH) encompasses a lot. All outdoor or large scale digital displays are DOOH. They are not just used for advertisements but also news, weathers reports, traffic information etc. Digital advertisements can found just about anywhere now, elevators, gyms, airports, public transport, office buildings etc.
According to MediaPost, DOOH is likely to become a more than $26 billion industry by 2023. Why? DOOH allows marketers to tailor their advertising to location, time of day, weather and traffic conditions, and more, making its reach and engagement highly effective.
Double Email Opt-In
Double opt-in is also sometimes called confirmed opt-in. The second, or double, opt-in is often in the form of a confirmation link sent either to their email or in a subscription activation page. After they confirm their email, then they are added to your mailing list. Double opt-in is great for making sure that your email ends up in your target address’s box. And since the user took the time and effort to do the extra opt-in, you know that they are truly interested in whatever they are opting-in to!
Dynamic content is website content you adjust based on what you know about the visitor.
For example, if someone visits a website and looks a few things, the next time they return, the website can offer content that matches their interests. If they bought something or gave their name, the website may say, “Welcome back, [Your Name].” Many companies use dynamic content to make their customer experience smoother. If you know what a customer has already seen, you can eliminate redundancies and give them exactly what they need.
First Party Data
First party data is data that your company has collected directly from your audience which is made up of customers, site visitors, and social media followers. “First party” refers to the party that collected the data firsthand to use for re-targeting. First party data is the best to use, because it’s collected from the people you have the most to learn from. That makes the data as reliable as possible. You can also attain first party data from your CRM, surveys and subscription-based emails or products.
Geofencing is creating virtual fence around a location. You can draw out this “fence” around any area that you think has potential customers. For example, you can geofence your brick and mortar store. You could also put a geofence around your direct competitor’s locations.
What happens after someone enters your fence? You can target that device with an ad, relevant deal, or offer. This can increase returning customers and brand awareness. Campaigns that incorporate geofencing often show much higher click through rates and engagements.
Google Analytics has a massive list of capabilities and can be overwhelming to use. But simply put, it tracks website data. Using tracking code, analytics collects information about the way the website was used. Such as, time of visit, pages viewed, the time spent on each page, what browser and OS are being used, referring site details, and network location and IP address. And has a ton of options for customization to give you the exact data you are looking for.
Guaranteed Email Open Opt-In
Guaranteed Open are when you pay for the number of “emails opened” instead of paying for the number of “emails sent.” Guaranteed Open emails are sent in segments until the purchased number of opened emails is reached. Using guaranteed open is a very effective way to make sure your email reaches your desired audience. They are also great for driving traffic to your website!
Identifier for Advertiser
Identifiers for advertisers (IDFA) is a device ID that allows advertisers to gather data about users within in apps. It basically works as a cookie for non-browser apps. This identifier gives advertisers aggregated data about who is installing, using or interacting with ads in their apps. While IDFA is exclusively for iOS devices, Google has their own versions. AndroidAdvertising ID (AAID) or Google Advertising ID (GAID). Apple announced that devices with iOS 14 will be able to opt out of their IDFA in the beginning of 2021. Google hasn’t announcing anything about their device IDs, but they did follow Apple in phasing out 3rd party cookies. So, it’s possible that the entire system of advertising device IDs could change.
Landing page a term that gets used a lot, but often people use it incorrectly. It can be easy to assume that any page a visitor lands on would be a landing page buts it’s actually a lot more specific than that. One person illustrated it this way: You could use a baseball glove to retrieve a hot dish from the oven, but that doesn’t make your baseball glove an oven mitt. So just because someone lands somewhere doesn’t mean that it is a post-click landing page.
What makes a landing page special? A landing page is a dedicated stand-alone webpage, created to convince the visitor to accomplish a single action. What is the advantage of separating your landing pages out to specify a single action? Research has shown that companies using 40 or more single action post-click landing pages generate 120% more leads than those using less than 5!
Mobile Location Data
Mobile location Data is geographical information gathered from a mobile device. It is the data about where a device is in the real world. Since it is assumed that a device and its movements is actually a person, mobile device data can provide powerful insights into audience behaviors.
Mobile location data is usually provided to advertisers as a lat/long that is associated with a device and a timestamp. Combining that information with real world “places of interest,” such as a store or building, gives advertisers information about who is in those geographic areas.
Mobile location data has many benefits. It is powerful tool to create personalized advertising. For example, an ad may say, “Did you enjoy your coffee today?” It can help advertisers learn how a consumer moves through the physical world, which helps advertisers develop predictive advertising. Mobile location data can also help advertisers learn where place of interest visitors live and work by calculating where the device rests during the day verses the evening. That data can be incorporated into marketing strategies.
Multichannel marketing is any campaign or marketing strategy that incorporates more than one channel to connect with the consumer. Many Multichannel campaigns use email, social media, direct mail, and contextual ads. and connects them together seamlessly, like gears in an engine. The goal is to make it easy for your customer to engage with your band and not have to put in any effort to buy from you.
Native ads are a type of ad that is designed to look like the platform it appears on. It feels less like an ad and more like a part of a continued conversation or journey. It is usually content that is relevant the what the consumer is already doing. Native ads aren’t interruptive or disruptive which makes them easy for the consumer to engage with. Native ads come in many forms, such as sponsored social content, a radio announcer or podcast host talking favorably about a product, or an article highlighting a product or company showing up in your news feed. Native ads are such a part of our lives now, it can be hard to even notice them.
Omnichannel marketing uses email, social media, direct mail, and contextual ads and connects them together seamlessly, like gears in an engine. The goal is taking out any kinks or glitches, so that your customer doesn’t have to put in any effort to buy from you.
The focus of Omnichannel marketing is strengthening the relationship between consumer and brand. Using Omnichannel marketing can increase your customer retention and therefore your revenue.
OTT (Over The Top)
OTT (over-the-top) advertising is advertising delivered directly to TV viewers over the internet through streaming video services or devices, such as smart or connected TVs (CTV).
The term “over-the-top” is used because it bypasses traditional TV providers that control media distribution, giving advertisers the ability to reach their audiences directly. Since, OTT reaches audiences directly, advertisers are able to target audiences more precisely with programmatic channels. Precise targeting eliminates waste and increases relevance to the consumer which pushes engagement.
Highlighting just how quickly OTT is taking over, ad spend is estimated to $2 billion this year!
Pay-per-click is one way to pay for a digital ad. the amount of money spent to get a digital advertisement clicked. The advertisers pay a a search engine, social media site, or website owner a certain amount of money every time their ad is clicked. Therefore, PPC is a good way to assess the cost effectiveness and profitability of your paid advertising campaigns. You can pay for pat-per-click in two different ways. 1) You can pay a Flat rate that was agreed upon by the advertiser and publisher. 2) Bid-based. With this option advertisers compete for each ad space by assigning a max spend amount. If the price of the ad spot goes above the assigned sped amount, the ad will stop appearing in the spot.
ROI (Return on Investment)
ROI stands for Return on Investment. It is a formula to calculate the cost of a purchase verses the returns. It can be used for anything in any industry but in marketing, it is used to figure out which avenues or initiatives are working best and therefore the most cost effective. For example, native ads might be more expensive for your campaign, but they are driving more conversions than display ads. That would be a better ROI and can help you know where to spend your budget. Therefore, calculating the ROI by element or by entire campaign can drastically contribute to revenue growth!
SAAS (Software as a Service)
SaaS stands for “Software as a Service” and is sometimes known as “cloud-based software.” In the past few years, the Saas industry has exploded and has become the default type of software for most business technology. SaaS is differentiated from other cloud-based technology because it’s focus in entirely on products for business.
Saas is entirely web based there’s no set up or installation and the software is maintained by the vendors. This allows business owners to focus on using the tools instead of learning complicated systems or maintaining hardware.
SEO (Search Engine Optimization)
SEO stands for search engine optimization. Search engines look at look at many site elements like structure and design, visitor behavior, content, and other external factors to decide how highly ranked your site should be in the results pages. SEO has become the catch all term for all things you can do to make your site look more appealing to search engines. What are some things you can do?
You can add title tags, page excerpts, descriptions, keywords, image tags, internal links, and inbound links to name just a few. (Blogs are great ways to incorporate these elements on a larger scale. Which is one reason blogs are so popular!)
Single Email Opt-In
Single opt-in is when an email address is added to your mailing list without needing the address owner to confirm or acknowledge they’ve been opted in. This is great for simplifying the process: for you and the people you are emailing. Less points of contact before a campaign also lower failure rates and raise engagement rates!
Static Display Ads are probably what you think when you think of online ads. Static Display Ads (or Banners) are the ads that are a solid image of various sizes in designated areas of a webpage or app.
Static Ads are very effective for generating general brand awareness, retargeting, drawing attention to a specific sale, targeting location based traffic, and much more
SWOT stands for Strengths, Weaknesses, Opportunities and Threats. Businesses can use a SWOT analysis to help evaluate its internal and external environment. How? Strengths and weaknesses are internal factors while opportunities and threats are external. During a SWOT analysis you can add a numerical value to each of the factors you’ve identifies to help quantify or differentiate the level of threat or strength. This can help you to see problems that need fixed or what to be prepared for. Also, looking over your AWOT analysis can help you decide where to best use your recourses because it will be easy to see what is working and what is not.
Pixels are little snippets of code added to a website to create an invisible 1×1 pixel graphic. The pixel captures information about your site’s visitors. Information such as when they visited your website, what type of device and the browser they used, what pages they looked at and how long they stayed on each page. Unlike cookies, pixels do not rely on browsers and instead send the information they’ve collected directly to servers. They cannot be disabled in the same way as cookies and can follow visitors across devices.
Have a question about a marketing term or want more information? Get in touch!