As a business owner, it’s crucial to stay up-to-date on the latest digital marketing trends. But, to do that, you need to know what all of the terminologies mean.
We’ve put together a list of some of the most common digital marketing terms. So whether you’re creating your first marketing plan or just looking to brush up on your skills, read on for definitions of some of the most important digital marketing terms!
- Creating a marketing plan: A marketing plan is a document that outlines your marketing strategy. It should include your objectives, budget, target audience, and channels.
- Social media: Social media are platforms where users can share content and interact with each other. The most popular social media platforms are Facebook, Twitter, and Instagram.
- SEO: SEO stands for search engine optimization. It’s the process of optimizing your website to rank higher in search engine results pages. You can do this by using keywords and phrases, creating quality content, and building links.
- Metrics and insights: Metrics are the data points that you track to measure your performance. Insights are the interpretation of that data and how it can be used to improve your marketing strategy.
- A/B testing: A/B testing is a method of experimentation where you compare two versions of a campaign (Version A and Version B) to see which performs better. The most common metric to track is conversion rate, but you can also track other metrics like click-through rate and bounce rate.
- 1st, 2nd, and 3rd party data:
- First-party data is the data you collect yourself through your website or app.
- Second-party data is the data you collect from another source with their permission.
- Third-party data is the data that you purchase from a third-party provider. This type of data is often less reliable than first- or second-party data.
- Ad Exchange: An ad exchange is a marketplace where advertisers can buy and sell advertising space. Ad exchanges typically use real-time bidding, which means that the price of an ad is determined by how much the advertiser is willing to pay for it.
- Algorithm: An algorithm is a set of instructions followed to complete a task. In marketing, algorithms automate tasks like creating targeted ad campaigns or sending email drip campaigns.
- Attribution: Attribution is the process of assigning credit for conversions or other desired outcomes to the touchpoints that led up to it. There are several attribution models, but the most common is last-click attribution, which gives credit to the last ad or email clicked before the conversion.
- CTR: CTR stands for click-through rate. It’s a metric that measures how often people who see your ad click on it. A high CTR means that your ad is relevant and effective. A low CTR means that your ad needs to be improved.
- CPC: CPC stands for cost per click. It’s a metric that measures how much you pay for each click on your ad. A high CPC means that your ad is not very effective. A low CPC means that your ad is more effective.
Digital marketing is constantly changing, so staying up-to-date on the latest trends is essential. By understanding these standard digital marketing terms, you’ll be able to create more effective campaigns and get better results for your business.
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