Of all the lucrative courses that provide job opportunities and placements, digital marketing holds a very secure place. It is a fast-growing industry that is going to be a game changer in the future for the marketing industry. Nowadays with all-around advancement seen in all spheres of life people are attracted to this sector as it offers many perks and as it is equally interesting to understand. Of the many digital marketing institutes in India and Delhi Awesome, Pvt ltd holds a coveted place as it offers updated training and learning facilities along with placement assistance in an affordable budget range making it the best digital marketing course institute in Noida.
There are many terminologies in digital marketing and ideally, a digital marketer should be able to know the whats and whys of these terms.
The top 15 digital marketing terminologies you should know are:-
- Conversion rate— Conversion rate is the percentage of potential customers who take a ‘certain action’. The ‘certain action’ can be opening an email or signing up for a demo or buying something. Most of the efforts in marketing focus on trying to make the customer take the next step which is making a purchase. So the conversion rate is a very important marketing metric in the sales funnel. So as a marketer it’s very important to be able to contextualize conversion rate data. The average conversion rates can differ depending on the marketing channel and industry. It has been found by research that the average website conversion rate for the financial and professional services industry is 10% and for the retail and eCommerce industry is 3%.
2. Push marketing—It is the marketing done to send a specific targeted message to a set of potential or existing customers. Examples of push marketing are targeted email campaigns, television and radio ads, etc.
3. Pull marketing—It is also called Inbound marketing. It is the marketing efforts that are designed to attract sales prospects to your website, brand, products, and services. Examples of pull marketing are SEO(Search Engine Optimization) and social media marketing.
4. Customer acquisition—It refers to all the sales and marketing activities that go into pitching or getting customers. Digital marketing is more about customer acquisition and retention.
5. Customer acquisition cost(CAC)—It tells about the average cost of getting a customer.
The formula to calculate CAC is as follows-
CAC=Sales and marketing expenses Total number of customers
CAC value is important because if brought together with Customer lifetime value(CLV) it tells you a lot about the potential profit value of your business model.
6. Customer lifetime value(CLV)—It tells about the amount of revenue a customer can generate for a business. There are many ways to calculate CLV the simplest of them being-
Average purchase amount x frequency of purchases x customer lifespan=CLV
There are some rules to analyze a business model by using CAC and CLV which are:
1. If CLV is divided by CAC and it is higher than 1 each of the customers is costing you money.
2. If CLV is divided by CAC and is less than one every customer is bringing money in. 3.If you have a CAC which is about a quarter to a third of your CLV is good for the profitability of a firm. If your CAC costs are lower than that then you are under-investing in customer acquisition.
7. Search Engine Optimisation(SEO)—It is one of the most common marketing terms used in the world of digital marketing. It is the process of increasing the percentage and quality of traffic to a website from unpaid web search results. It is an unpaid search as SEO does not include paid search.
8. Search Engine Marketing(SEM)—It is the process of increasing the amount and quality of traffic to a website by the use of SEO and paid advertisements. Or we can say that—
SEO+Paid search results=SEM.
9. Search Engine Results Page(SERP)—It is the page of results a user can see if they type a term in a search engine while browsing the net. In general, if your SERP ranks higher for a specific search term, a user will click more on the result.
10. Impression—It is an example of a piece of online content that is shown online. Very often the term is used in the pain online ads world. For example, the clickthrough rate(CTR) is calculated by using clicks and impressions.
11. Clickthrough Rate(CTR)-–It is the percentage of clicks got by a campaign that is relative to the number of impressions. Higher CTR means that the campaign is becoming successful with the viewers.
The formula for CTR is—
Clicks on a campaign x100 = CTR Total campaign impressions
For eg, if a given ad campaign has 5 clicks and 500 impressions then CTR is—1% (5 x 100 =1)
12. Cost Per Mille(CPM)—It is one of the very few marketing languages which uses Latin. ‘Mille’ is Latin for thousand and CPM means cost per thousand impressions. CPM is more often used for setting up the cost of a given paid ad campaign.
13. Cost per Click(CPC)—Cost per click refers to the cost of each click done in a campaign that is paid. In a CPC model one pays on clicks as opposed to impressions. CPC is quite famous on pay-per-click platforms like Google ads.
14. Customer Relationship Management(CRM)—It is the process of building, maintaining, and improving the relationship of an organization with its customers. For digital marketers, CRM software is a very important part of CRM because the right kind of software will help in escalating contact management, customer segmentation, marketing effort automation, and sales analytics.
15. Content Management System(CMS)—It is a type of software that is made to simplify the process of making a website and publishing content. The CMS software can help to streamline everything from content to SEO to user management.
Read also: Guide About Digital Marketing Services
Edwesome Pvt ltd is providing updated and the best digital marketing course in Noida with the help of certified online trainers, cooperative and supportive environment, an advanced course curriculum, live case studies which are all within a normal budgetary range and which are a great learning experience on the whole. So if you are looking for the agency providing the best digital marketing course in Delhi NCR then Edwesome Pvt Ltd cannot be sidelined. They are there to make education awesome and help students in learning better to make India better every time, all the time.