In the digital marketing industry today, many terminologies are flying around, and it can be difficult keeping up with them. In addition to the many advancements and changes in this industry, beginners can find it challenging to keep up with important digital marketing terms. Not knowing these terms could make it challenging to keep up with conversations about marketing, even with a digital marketing agency.
If you’ve been looking for a method of improving your digital marketing vocabulary, you’ve come to the right place. We’ve collected all the essential digital marketing terms you need to know and what they mean in this article. So keep reading to learn what they mean and their role in your marketing strategy.
9 Digital Marketing Terms You Should Know
Digital marketing terminologies are categorized into different domains. There are general, operations-related, and technical terms in this industry that you need to get acquainted with. Below is a list of the top 9 digital marketing terms and what they mean to get you started.
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Content Strategy
The planning and implementation of digital content as a successful marketing strategy includes creating and distributing content for digital marketing campaigns like articles, videos, blog posts, e-books, webinars, and social media posts.
Content is the base of all marketing strategies, and its success also includes testing to determine its performance. Therefore, content strategy is a crucial component of all content marketing campaigns.
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Search Engine Optimization
Search engine optimization is a standard marketing term most digital marketers come across. It is a marketing strategy used to promote a website. It involves increasing the quality of organic traffic through unpaid web search results.
The traffic must be unpaid because SEO excludes paid searches. Therefore, you must follow specific rules and guidelines to improve your website’s quality significantly. All search engines utilize several factors to determine the content worth displaying, and that’s where these rules emanate from.
To rank significantly higher on search engines, you have to optimize your website through optimization for speed, proper site structure, and the proper utilization of keywords in your content.
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Conversion Rate
This digital marketing term refers to the percentage of users that completed the desired action on your website. The conversion rate is calculated by dividing the overall size of the audience by the number of converted users. An example of converting users are those who clicked on your ad or users who opened an email.
Most law firms use the conversion rate percentage to improve their firm’s growth. According to Marketing Sherpa, the average website conversion rate for the financial or professional service industry is 10%.
All marketing strategies are data-driven, one of the factors used in determining the success of any campaign. Luckily, you can track conversions through Google Analytics.
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Clickthrough Rate (CTR)
This is another essential digital marketing term that pops up when determining the performance of a campaign. For example, a digital marketing agency might use the clickthrough rate to determine the percentage of clicks a campaign receives in contrast to the number of impressions. The higher your clickthrough rate, the more your campaign resonates with your audience.
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Bounce Rate
Bounce rate refers to the ratio of users who bounced after visiting your website. A bounce is a visit to your website that doesn’t involve the user taking any other action, like visiting a second page. So, for example, if a user visits a single page and then leaves, that’s a bounce.
A low bounce rate is always better than a high bounce rate. However, context matters when determining how this digital marketing term works. For example, press releases, product pages, and contact pages usually have different bounce rates because users visit these pages for various reasons.
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Cost Per Acquisition (CPA)
This pricing model applies when sales, leads, and conversions are generated. It is a financial metric measuring the cost of acquiring one paying customer. For example, a digital marketing agency might use this to determine how much your firm is willing to drive new client growth or pay for leads.
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A/B Testing
Most people don’t know this, but it is essential in digital marketing. A/B testing is also known as split testing and is the process of testing two versions of digital content with a target audience.
It is important to split test when running any kind of advertisement. By running 2-3 similar ads simultaneously, you can determine your audience preferences through the conversion rate.
It is commonly used in testing social ads, email subject lines, landing page copy, e-newsletters, etc. A/B testing helps you determine which version is more likely to deliver results. In addition, it will help you target your audience by focusing on the ad they liked most.
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Affiliate Marketing
This strategy has grown in popularity in the digital marketing industry. This digital marketing strategy targets affiliates who bring new clients or visitors to your firm. Affiliate marketing is done through promotions like the content on an affiliate website or an ad.
The affiliate gets a commission depending on the number of clients generated by the affiliate website. Although affiliate marketing is more common on lifestyle or personal sites that recommend products for viewers, the legal industry is beginning to take advantage of it.
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Lead Generation/Lead Nurturing/Lead Magnet
These are three marketing terms that go together. Lead generation refers to how your firm gets the attention of potential clients or how it generates a lead. On the other hand, a lead magnet is a tool that would help your firm attract potential clients; this could be a giveaway, a free guide, or any other incentive offered to your target audience in exchange for their emails.
Once a potential lead becomes a full lead, it’s important to nurture them to become clients. Most firms nurture their leads by sending emails, calling them to follow up, or targeting them on social media.
EverConvert, a Digital Marketing Agency in Greenville, SC, Can Help You!
Many terminologies can seem confusing when you’re just exploring the digital marketing industry. However, now that you know their meaning and how they apply to your firm, you’re ready to take the next step to foster your growth. If all these talks of digital marketing terminologies have gotten you excited about your very own digital marketing campaign, EverConvert can help.
We’ve been helping clients take their businesses to new levels with digital marketing, and we can do the same for you. Our digital marketing team comprises experts in the field who can ignite growth in your firm with data-driven digital marketing strategies.
Reach out to our full-service digital marketing agency today to get started.
