Business has a language of its own, and knowing the difference between terms like SMM and SEO is vital if you want to succeed with marketing.
Here are 7 marketing acronyms you need to know in 2020:
Search Engine Optimisation is vital for any business with an online presence. If you have a website, you've almost certainly seen the term SEO before.
SEO means updating your website to make it more enticing to search engines, so your business ranks higher in search results. Without it, potential customers will struggle to find your business online.
The main aspect of SEO is keywords - you can use them to show search engines like Google that your website answers the questions people are searching for.
A Content Management System is a tool that helps you manage digital content.
This could be a website manager like Wordpress, or a social media scheduling tool like Hootsuite. CMS helps you figure out what to publish, when and where. It saves you a significant amount of time on marketing!
Your business's Single-Minded Proposition is a sentence that encapsulates your brand.
It might be as simple as Nike's Just do it.
Simply, the SMP tells everyone what you sell and what your values are, in whichever way you choose to word it. SMPs are also used for individual ads or marketing campaigns, and can often serve as headlines.
Pay Per Click marketing is the term for targeted Google ads that are paid by the click, i.e. how many people actually interact with your ad.
PPC could be considered the opposite of SEO. SEO gets organic 'real' clicks, PPC gets clicks because you've paid for it. Many businesses will do both.
Social Media Marketing covers any social media you use for your business, from posting on Pinterest to launching full Facebook Campaigns!
Your business might also create promotions and ads on social media. SMM can be paid or organic, but either way is important for any business to succeed in, if you want to connect with your customers online.
Public Relations is the side of communications that deals with the relationship between a business and its consumers.
Although there's a lot of overlap, it's important not to get confused between PR, press, marketing and advertising. They're all different!
Return on Investment is a term relevant across all aspects of business. A good marketer will be able to show you how the money you spend on marketing is earned back through sales.
To be successful in marketing, you need to budget appropriately. At the end of every marketing campaign, you need to measure if it was worthwhile, and see where you went right or wrong.
Which terms would you add to this list?
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