Admit it! As the only digital marketer at your company it’s not easy to stay up-to-date on the latest trends in the industry and news on your competitors. But most importantly it’s impossible to keep up on all the digital marketing jargon and endless acronyms. As a team of one, here is a list of digital marketing terms that will allow you to talk-the-talk and sound like a professional digital marketer.
1. Algorithms: Algorithms are like recipes: They’re formulas that include a bunch of different variables that search engines use when they crawl your website to determine how your page should rank in search results. While Google has recently changed their search ranking algorithms, marketers still need to be aware of the important changes so they can continue to optimize content and drive new visitors.
2. SaaS: “SaaS” means “software as a service.” So, if you’re using any software that’s hosted by another company and they store your information in the cloud, you’re using a SaaS product.
3. KPI: Key performance indicators (or KPIs) are metrics that you look at to track the progress towards your marketing goals. Some examples of marketing KPIs are CAC (cost of customer acquisition) or the ratio between the lifetime customer value to the cost it takes to acquire a customer (LTV:CAC).
4. API: An “application programming interface,” or API, is kind of a like a phone for applications to have conversations. An API literally “calls” one application and gets information to bring to you to use in your software. And while all this sounds techy, it’s important for marketers to understand what APIs can do to factor them into their marketing strategies.
5. CPM: The “cost per impression,” or CPM, is a term used in online advertising and marketing related to web traffic. Specifically, it is the cost to offer potential customers one opportunity to see the advertisement either on search, Google AdWords, Facebook, or Twitter for an advertising campaign.