Online marketing buzzwords you need to insert in your everyday vocabulary
SEO, ROI, CTA, CVR, PPC, GDPR… This online marketing glossary teaches you to speak fluent “online biz”.
SEO, ROI, CTA, CVR, PPC, GDPR… Are we talking about rocket science, new data protection laws or digital marketing? The latter, of course! This online marketing glossary teaches you to speak fluent “online biz”.
When eavesdropping on two online marketers chatting with each other, an outsider can sometimes end up asking whether they even speak the same language. The digital lingo buzzes with unrecognisable acronyms.
But this is a teachable skill! Surveyeah’s content marketing experts put together this glossary that’ll make you sound like a pro today.
Freebie
A.k.a. “Lead magnet” or “free offer”
A freebie is a free product or service that gives your audience an appetizer of the work that you do. It’s usually used to encourage people to sign up for your newsletter so that you can then engage with them and later, encourage them to try your paid offers as well.
Read more: How to create your first digital product
Lead
A.k.a. “prospect*
A lead is the person who downloads your freebie and this way expresses interest in your work. They can become paying clients, if you play your cards right.
Nurturing
Once you have caught your lead’s attention, it’s time to nurture that relationship before taking out your big marketing guns. This can happen for example through a series of emails or through social media. The aim is to add free value first and then slide in some marketing.
Funnel
A funnel is the series of activities you take your leads through in order to convert them into paying customers. In the beginning of the funnel you typically have a larger crowd of leads, and at each step, there are fewer and fewer of them left. That’s normal, and it also means that at the end of the funnel you can include operations that require more of your time, such as 1:1 calls or free consultations.
Read more:Create a perfect nurture funnel for your newsletter subscribers
Engagement rate
In italian “tasso d’interazione”.
When you nurture your leads well, your engagement improves. Engagement rate tells you how active your audience really is and how close they feel to you. The higher your engagement, the better your results.
Engagement rate is calculated based on the number of followers and on the reactions it generates. If you have 1000 social media or newsletter followers of which 50 like, comment or share your content, your engagement rate is 5 %.
Read More:Improving engagement boosts your online revenue
Call-to-Action
A.k.a. “CTA”
Engagement can also be enhanced via powerful Call-to-Actions. Insert one in all the content you’ve created in order to invite people to take action. It can be a “Buy now” button on your website, “Schedule a call” link on your newsletter or a simple social media caption that asks people to share their own experiences. Just always have one!
Conversion rate
A.k.a. “CVR”
If you choose your CTA wisely, you’ll probably see your conversion rate peak. Conversion rate tells how many of your initial prospects did end up buying your product. If 100 people sign up for your freebie, 20 of them book a call with you and 5 end up buying, your conversion rate is 5 %.
ROI
High conversion leads to high ROI. ROI is an acronym that is composed of the words “return on investment” and it helps you evaluate how much money you get for your effort and ad expenses. ROI is rather easy to calculate: if you spend 100 dollars for ads which lead to 500 dollars worth of sales, your return on investment is 400 %.
Now it’s time to get to practice and start dropping those CTA’s, ROI’s and CVR’s like nobody’s business! When you’re ready for a follow-up course, you can broaden your vocabulary with these free resources:
75 Must-Know Digital Marketing Terms and Definitions