Abbreviations 101

Are you confused by marketing acronyms like API, SEO, and WOM? This guide explains the most common abbreviations in the industry.

A marketing document is sometimes a bit like alphabet soup. The letters are recognizable, but the jumble is so great that it’s hard to make out any meaning. Here we break down some of the most common marketing acronyms and buzzwords to take the guesswork out of what CTA, CRM, and WOM mean.

API:

An application programming interface (API) is essentially a digital intermediary. It allows applications to communicate seamlessly. In short, an API makes your Facebook share button work and allows your website visitors to instantly post content for friends on their Facebook page.

CPA:

Cost per action (CPA) is an important budgeting concept that shows the amount of investment required for certain milestones: a click on your website, subscribing to a newsletter, or purchasing a product. This number can be used to compare which marketing strategies are the most cost-effective.

CTA:

The call to action (CTA) is like the homework you give your audience. These are the sales instructions at the end of your marketing message that tell the customer, “Buy now!” or “Sign up now!”. Our partners are experts in designing CTAs that get clicks.

CTR:

Speaking of clicks, your click-through rate (CTR) is one of the metrics your partner uses to measure the success of an ad campaign. It’s basically the percentage of how many people viewed something and then clicked a link. By using tagging, dynamic content, eye-catching email templates, A/B testing and writing compelling CTAs, a partner can improve your CTR.

CRM:

Good customer relationship management (CRM) helps you retain existing customers, increase their spend, and convert prospects into new customers. As an all-in-one marketing platform, CRM technology is built into Mailchimp. So you can keep an eye on demographic information, interactions, purchases and much more. Properly configuring and setting up your audiences is essential to getting the most out of Mailchimp. A partner can guide you through this process and ensure that you use the full potential of the data collected.

KPI:

When it comes to marketing, it’s important to keep track of what’s working and why. Establishing some relevant metrics ( Key Performance Indicators, KPIs) like open, click, bounce, and conversion rates that you can use to track and measure success is key to achieving your goals.

ROI:

For a small business, every bit of budget counts. That’s why you need to make sure your spending pays off. Return on Investments (ROI) is a calculation of the monetary value of an investment compared to its cost, defined as the ratio of the net profit to the total cost of the investment. ROI is an extremely useful tool for evaluating previous business decisions (e.g. hiring a partner) and as a basis for future decisions.

SEO:

Search Engine Optimization (SEO) helps search engines like Google, Yahoo, or Bing find you better online. There are various techniques for this, e.g. the use of frequently searched terms in your web texts, so-called keywords. Regardless, a solid SEO strategy can significantly impact the number of clicks on your website and therefore the number of potential customers you reach online.

SOW:

A Statement of Work (SOW) is like a roadmap for a project. It sets out the schedule, budget, deliverables, and expectations for both you and the freelancers or agencies you work with. The content of SOWs varies from project to project, but should be detailed enough for all stakeholders to understand the scope, cost, and stakeholders of a job.

UX:

User experience (UX) describes how a customer interacts with your brand. A smooth user experience – a functional app interface, an intuitive website – gives a positive impression of what you do and ultimately makes it easier for people to access your products and services.

WOM:

Word of mouth (WOM) is when people talk about your business online and in real life. This is a good sign that interest in your products and services is growing and people are telling their friends and family about them.

  • devaluation What does Devaluation stand for? - The act and consequence of devaluing is defined as devaluation. This concept refers to the action of reducing the value of a monetary system or another element or matter. For…
  • distillation What does Distillation stand for? - Originating from the Latin word destillatio, distillation is the process and result of distillation. This verb refers to filtering or causing a liquid to drip, or to achieve the separation…
  • WEAR What does WEAR stand for? - Wear is the act and consequence of wearing out or wearing out. This verb refers to consuming or deteriorating something little by little due to its use or due to…
  • Decline What does Decline stand for? - The first thing we are going to do is to know the etymological origin of the term descent. In this case, we can state that it derives from Latin, exactly…
  • Natural Law What does Natural Law stand for? - From the Latin directum, the term right can be translated as that “that is in accordance with the law” and allows the development of postulates of justice that constitute the…
  • Density What does Density stand for? - Density, from the Latin densÄ­tas, is the proper characteristic of dense. This adjective, in turn, refers to something that has a large amount of mass compared to its volume; that…
  • Deliberation What does Deliberation stand for? - The concept of deliberation, which comes from the Latin deliberatio, refers to the act and the result of deliberating: analyzing the benefits and disadvantages of a decision before specifying it…
  • CREOLE What does Creole stand for? - From the Portuguese crioulo, criollo is a term that emerged in colonial times to name people born in the Americas who descended exclusively from Spanish parents or of Spanish origin.…
  • CULMINATE What does Culminate stand for? - Culminar is a verb that derives from the Latin term culminare, which can be translated as “elevate” or “raise”. In the most literal sense, therefore, the act of culminating consists…
  • CURRENT ACCOUNT What does Checking Account stand for? - The current account is a contract between a bank and a client that establishes that the entity will fulfill the payment orders of the person according to the amount of…