It takes one to know one!
There aren’t many elements that can change how others view you, but when we’re talking about the professional world, one who can speak the language can easily fit in, prevent himself from paying too much for nothing and earn the respect of other members of that exclusive community.
This logic applies to digital marketing as well – If you want to understand reports, know what to ask for and what results to demand, and of course – Test those who tell you that they are worthy of being your digital marketing agency.
For those reasons, we have composed a detailed list of popular terms used in the digital marketing scene along with explanations – And we’re sure that you’ve already faced at least some of them, and now you can enjoy them to their fullest, and use them for yourself!
The CP Family
Those 2 initials stand for “Cost Per,” and we can see multiple variations you can use.
CPA: Cost per action, the cost per any action that you have previously defined (Like, Comment, Purchase, Add to Cart) Etc. It can refer to one, but you can use it for different instances you want to measure.
CPC: Cost per click. The cost of a click on your ad. Notice: There are two types of clicks.
- All – Every click on the ad, including “Read More,” the photo, the page name, etc.
- Link – Every click on a link to a website (This is usually the metric you want to see)
CPL: Cost per lead (Someone who left his contact info for a potential product or service sale).
CPM: Cost per mile. This one is about reaching 1,000 unique users (People) or impressions (Times the ad was shown). The lower the CPM, the more users you got to view your ad on the dollar.
CPI: Cost per installation. Similar to CPL, in a version for app campaigns.
CTR: A good measure for your creative’s success is the Click Through Rate (AKA CTR). It represents how many clicks were achieved, divided by the number of impressions.
The higher the CTR, the higher the ad ranks in terms of creating interest. This term has multiple branches, such as CTR (All), CTR (Link Clicks), Unique CTR, etc.
Remarketing
The art of contacting users who interacted with your digital assets (A website, landing page, business page, video, etc.)
Please note that this one is considered an audience (The people you target) and not a type of campaign. To be honest, this mistake also happens with veteran PPC players.
Tracking Code
How can you create the remarketing audience in the first place? This is where the tracking codes come in handy. This is the general term of a series of HTML codes that you can get from any social network that offers paid campaigns – Installing it will automatically mark those who visited your digital assets and use them to your comfort and advantage later.
Please note 3 essential guidelines:
- You can’t extract the data – If someone visited your website, the tracking code wouldn’t give you any information besides his actions. It means no name, email, phone, or any other important piece of data
- Each tracking code saves information for the relevant platform. You can’t use data that Facebook Pixel got for Google and vice versa.
- Internal platforms (Business page, Amazon Shop, and similar) don’t require to install any code (Of the social network they belong to)
Conversion Events
How can you tell what people did at your website? This one is easy thanks to conversion events, another HTML code addition you can implement in your website considering different events (Such as clicks, button presses, page load, and more).
A good website has to be appropriately set up with those events to understand which campaign works and which doesn’t.
This is the start of your New Digital Services Provider Quest
Now you have increased your knowledge regarding those terms by tenfold – And this is a wonderful opportunity to see where you stand. At Synapse, we have vast experience and expertise that waits to be tested by you, along with all the patience you need to understand more syntax down the road.