These days, marketing jargon looks more like alphabet soup. SEO, CRO, UGC, TMP (we made that last one up). So many acronyms, so little time! To help you decipher these letters, we’re breaking down eight common pieces of marketing jargon to help you make sense of these important acronyms for your business.
CRM or customer relationship management refers to a virtual system designed to help businesses better manage their relationships with clients. In keeping contact details up to date, tracking customer interactions, and managing client accounts, CRM is an important tool that will continue to help growing businesses keep tabs on their consumer base, support sales management, and analysis of customer data.
CRO or conversion rate optimization is the process of modifying and optimizing your website in order to increase the percentage of web traffic taking a desired action—such as purchasing a product or signing up for a mailing list. CRO can include the location and placement of a CTA (oops, sorry—another acronym. We meant call-to-action.), the influence of a creative, or even the clarity, layout, and writing style of the copy on the page. Think of CRO as a lens to magnify your brand’s influence on web traffic.
KPI or a key performance indicator is a measurable value that is used to determine the success of a company, the activities it engages in, and its long-term or short-term objectives. For example, your KPI plan may include wanting 1,000 new purchases on your e-commerce website by a specific date. KPI metrics can help you effectively measure the success of achieving a goal as you go.
SERP or a search engine results page is the page a search engine serves after a search query is submitted. So when you hop over to Google and search for the lyrics to your new favorite song or to look up the recipe for Rachael’s Thanksgiving trifle from Friends, the page you see is a SERP. Ready for more marketing jargon?
UGC or user-generated content is any form of content, such as photos, videos, reviews, etc., that have been posted online by users. Utilizing UGC in social media marketing has proven to be influential. How often do you make a purchase on Amazon without first reading the reviews? Using positive UGC to promote your brand can help create trust where there was none among potential customers.
PPC or pay-per-click is a model of online marketing in which advertisers pay a publisher whenever an ad is clicked. In the simplest terms, it’s an attempt to buy visits to your website rather than relying on organic web traffic.
UX or user experience focuses on the experience of a user and how they interact with a product, system, or service. UX measures a person’s perception of efficiency, ease of use, and utility and is typically referenced for websites, mobile apps, or software programs. That said, UX can be observed in non-digital products as well.
CX or customer experience casts a wider net and focuses on the experiences and perceptions of customers on all aspects of a company or brand. From an organization’s advertising to its customer service, pricing, delivery, and more, CX attempts to measure a customer’s feelings about not just a product but all aspects of a brand.
You made it! That wasn’t so bad. But this is only a start. There’s still ROI, CTA, CTR, CPC, and so many more. Once you get familiarized with the basics, they will start rolling off your tongue like you’re a natural.
