20 Essential SOCIAL MEDIA ACRONYMS for 2019
As our attention span seems to become ever smaller and content needs to be short and sweet, the number of acronyms in common use online has skyrocketed, both for leisure and across virtually all fields of employment – and particularly in digital marketing.
Our diverse team based at the Penceo Content Lab in Geneva, Switzerland, has brought together the 20 most essential Social Media terms to help your business get ahead of the rest, and to make 2019 your year for growth and success!
This article presents you with the definitions you might have been searching for – or may not have even realised you should be learning. It’s 2019, and acronyms are everywhere, so if you weren’t aware of their importance yet we suggest you believe us when we say get to learning!
There has always been plenty of jargon involved in business, and it comes as no surprise that there is terminology to learn when entering into the basics of marketing. In today’s world of digital marketing, where social media is king in terms of audience engagement, and where changing trends require businesses to react and adapt quickly, acronyms have taken up a vital role in social media marketing. The key terms are presented below in sections 1 and 2, and in section 3 we will focus on the technical terms involved in Social Media Marketing.
Remember: The more you can communicate to and with your users, the more they will begin to view your brand as a community - and to a community, they’ll stay loyal.
1. Key acronyms for Businesses
This section focuses on some key acronyms used in the digital business, which everyone working in the field should be aware of to communicate effectively on the topic of any web-related business. Here at Penceo, we use these terms all the time, and this list comes from our collective experience. If you know them already, go you! If they’re new to you, let us know if you’d like to see more content around any of these topics and we’ll do our best to produce relevant content for you at our Geneva content lab.
B2B / b2b / BtoB
A B2B, or business-to-business, transaction is an exchange of products, services or information between businesses rather than between a business and their consumers. This could, for example, be a food manufacturer purchasing a bulk ingredient for their production process from a wholesaler, or a digital marketing company employing an accountancy firm to streamline their financial administration work. The term B2B e-commerce specifically refers to business-to-business electronic commerce, meaning transactions between businesses online. The e-commerce aspect involves all the ways in which businesses use the internet to complete transactions and manage their working relationships with one another.
B2C / b2c / BtoC
A B2C, or business-to-consumer, transaction is an exchange of products, services or information between a business and their consumers using tools such as advertising, campaigns, promotions and events. It differs vastly from B2B marketing, which is conducted by employees from the businesses involved who negotiate and come to an agreement on an exchange of services. Instead, it targets individuals in an informal way with the aim of encouraging them to make use of the offered product, become loyal customers of the brand instead of their competitors, and / or make a rapid or even impulsive decision to purchase the product. B2C e-commerce, like its B2B counterpart, refers to businesses making use of the internet for the purpose of a transaction between themselves and their clients.
A CMS, or Content Management System, is designed to manage the creation, modification and publishing of digital content and generally allows for multiple users to collaborate directly on projects. Format management, web-based publishing and indexing are common CMS features. The term WCMS, or Web Content Management System, refers specifically to management systems designed for managing the content for web pages, such as graphics, videos, program codes for applications and any embedded content. Most of the commonly used CMSs are also a WCMS. Using a CMS, such as WordPress, no coding knowledge is required for the creation of a functional website.
User-Generated Content (UGC) is any material produced by consumers or end-users of a website or platform, including videos, photos, tweets, infographics, stories, blogs, discussion forum posts, audio files, etc. It can also be referred to as CGM, or Consumer-Generated Media. Facebook, Twitter and Instagram operate mostly on user-generated content, and websites such as discussion forums or product review pages also rely heavily on UGC.
Athlete Generated Content (AGC) is any material produced by athletes on websites or social media platforms, including videos, photos, tweets, infographics, stories, blogs, discussion forum posts, audio files, etc. AGC can garner sponsorship, increase visibility of a sport and provides athletes a way of interacting closely with their fans.
2. The essentials for Marketing
Digital marketing for social media is an ever-evolving art, and there’s no room for letting anything slide. Acronyms are now unavoidable and knowing them will kick your marketing up a notch. We at Penceo are experts at digital marketing, and we’re here to fast-track your marketing and grow your skills. Do you have a suggestion for a topic you want to see appear in a Penceo blog article? Contact us at email@example.com and ask away, and we will do our best to produce relevant content that both engages and educates.
The terms listed below are directly marketing related, and it should be noted that if you don’t yet use any metrics to gauge your engagement with your fanbase, now would be the time to start!
CPC / PPC
The concept of CPC, or Cost per Click, is an internet advertising model used to drive traffic towards the advertised websites. Also known as PPC, or Pay per Click, it involves the advertiser paying a set amount to the publisher for every click generated by the advertisement, which is generally placed in a dedicated section and designated as a Sponsored Link for transparency to the consumers. It is commonly used by e.g. search engines, such as Google, and social networks including Facebook and Twitter. As it provides direct information on the effectiveness of the advertisement in the form of the number of clicks, it can measure attention and interest and allows for easy comparison of advertisement campaigns.
The concept of CPM, or Cost per Mille, is a marketing term which refers to the price of 1,000 impressions of an advertisement. Mille is Latin for ‘thousand(s)’. It is commonly used to direct traffic to websites, and its success can be measured by its click-through-rate (the percentage of people who saw the ad and clicked on it), although the flaw in this measurement is that an ad viewed but not clicked on can still have an impact on a consumer. For campaigns with a focus on heightening brand awareness, CPM is most useful as it is the exposure which matters more than the actual clicks.
Cost per Action is a marketing term which refers to the payment of a commission which is paid when a user takes a specified action, e.g. filling out a survey or form, signing up for a trial or creating an account, or purchasing a product. Unlike similar agreements like Cost per Mille (CPM) and Cost per Click (CPC), payment is only made with actual follow-through, and not merely for clicks or views.
The Click-Through-Rate (CTR) is the ratio of users who click on a link to the number of total users who view the page, email or advertisement featuring the link. CTR can be used to measure the rate of success of an online advertising campaign hosted on a website or social media, or the effectiveness of an email campaign. It is calculated as a percentage as follows:
(Number of Clicks / Number of Impressions) x 100 = CTR
Key Performance Indicator (KPI) is a metric used to measure success in achieving a set goal. In terms of social media this would include e.g. the measurement of engagement such as likes, comments or clicks. KPIs can be used at multiple levels across the business to measure success, with high-level KPIs focusing on e.g. the success of the business overall and low-level KPIs may focus on e.g. the marketing department only.
Return on Investment (ROI) is a term for a performance metric used to measure the efficiency of an investment, or to compare the efficiency of multiple investments. It attempts to measure the amount of return on a specific investment relative to the cost of the investment. The calculation for ROI produces a percentage or ratio which can easily be compared, and is calculated as follows:
(Current Value of Investment – Cost of Investment) / Cost of Investment = ROI
CR stands for Conversion Rate. If the goal of an advertisement campaign is to generate revenue, conversion is the key metric to consider. It is a term used to describe a customer taking a specific action which is profitable and positive for your business, such as purchasing a product, creating a paid account, etc. In online advertising the term Conversion Rate is the ratio of conversion generated by an advertisement to the number of clicks generated by that same ad, and it is calculated as a percentage as follows:
(Number of Conversions / Number of Clicks) x 100 = CR
The Unique Visitor (UV) count refers to the number of individuals who have viewed pages of a website during a given period, e.g. a week, a month, a year. Regardless of how often a single individual visits a page, they are counted as a single UV. It can also be referred to as a Unique User (UU).
Page views (PV) are a measure for visitor volume on a website and refers to the amount of times a page is viewed or clicked. However, it does not take into account whether the visits are from unique visitors (UV), instead counting every single clickthrough to a page independently.
3. Technical terms to know
The technical side of digital marketing isn’t everyone’s thing, but by learning the essentials presented in this list you’ll find yourself able to make sense of the technical aspects of web and social media marketing, and immerse yourself in analysing web traffic without any worries.
UX stands for User Experience design and refers to the process of improving usability and increasing customer satisfaction and customer loyalty through a focus on streamlining the interactions between a consumer and a product. The concept can be applied to virtually any field, from architecture to computing, but in terms of the online and digital platform users it specifically means designing a webpage or application for ease of use, with the customer’s needs in mind and solving any possible issues by ensuring a smooth experience for the customer.
The User Interface (UI) includes every part of the direct process of human-computer interaction, such as the person’s interactions with the computer itself, with the menus presented in the software, with the online portals through which they log into their accounts, and the content they navigate and interact with once online. The purpose of any UI is to be user-friendly and to allow a person smooth and effective operation, or input, of the machine to reach the intended result, or output, with minimal unnecessary steps or undesired effects.
Search Engine Optimisation (SEO) is the process of increasing both the quality and the quantity of website traffic and therefore increasing the visibility of a webpage to the users of a web-based search engine (such as Google) through organic (non-paid) search engine results. Long story short, it is the adaption of both the site content and the site architecture to make it the most appealing to search engine algorithms. This is achieved through the use of surface-level factors such as key words, content length, copy quality, niche-specific content and otherwise playing into the algorithms of the search engines to rank as high as possible in the list of search results, but other factors such as website speed and the quality of your code also play a role.
Search Engine Results Pages (SERPs) are the pages search engines display in response to a user keyword search query. The main component of a SERP is the list of organic ranked results returned by the search engine, although it also features advertisements and paid content. The search engine’s algorithm produces the ranked listing of the websites shown, and websites can improve their standing through the use of Search Engine Optimisation (SEO).
Search Engine Marketing (SEM) is any internet marketing that involves the promotion of websites by improving their visibility in Search Engine Results Pages (SERPs). It includes the process of Search Engine Optimisation (SEO), but goes beyond this to further increase visibility in search engines through e.g. purchasing advertisement space and paid rankings, Pay Per Click (PPC) advertising, etc.
Google Analytics (GA) is a Google product which allows businesses to gain an insight into how people use their webpages or applications in order to improve the user experience. It tracks and reports on website traffic, including e.g. session duration, the number of pages viewed per session and where visitors came from to end up on the webpage. It is the most widely-used web analytics service.
Understanding the needs of your audience and knowing how to analyse your online performance are equally important to fan loyalty - success will always result from a combination of the technical and the human-driven!
Well done, you’ve made it to the end of our list! Thank you for sticking around, and we hope that our content has enlightened you on the most important acronyms that are currently being used on social media platforms. Is there anything you’ve wondered about social media marketing? Are there things you want to see an infographic on? Send us an email at firstname.lastname@example.org and let us know, and maybe we’ll be posting an article to answer your questions!
We are a dedicated social media communications agency with a diverse team of graphic designers, digital marketing specialists, content generators and more, and you can trust us to bring the most relevant information to your screens. We’re based in Geneva, Switzerland, but we work with sports federations and other clients on an international scale, so don’t hesitate to contact us no matter where in the world you are.