Have you ever felt overwhelmed reading a marketing article, because it is full of new words and abbreviations?? Worry not: in this article we break it down for you so that it will be easy for you to catch up with Marketing in the 21st Century.
- Metric – Measurable value used to demonstrate the effectiveness of a campaign across any channel.
- Conversion – This is when someone on your website fulfils the desired goal – fills in a form, checkout, or adds something to the cart.
- Cost Per Acquisition -This is a metric used to measure the cost of a customer taking an action that leads to a conversion.
- Cost per 1,000 Impressions (CPM) – the amount charged for every 1,000 times your advert is displayed, whether it has been clicked on or not.
- Cost Per Click – The price an advertiser is supposed to pay for every click made on the advert itself.
- Click-Through Rate (CTR) – This is the number of clicks your advert receives divided by the number of times your advert is shown (impressions).
- Engagement Rate – This is a metric that shows the interaction between the content and the audience – Likes, Shares and Comments.
These are the basic digital marketing terms to get you started. Keep checking, as we will post Part 2 of the digital marketing glossary shortly.