At NetElixir, we think that digital marketing success can and should be accessible to every business. Learning the jargon associated with digital marketing can help make creating a smart campaign to target your customers a little easier. In this post, we’ll define some of the most common terms in digital marketing and provide links to relevant NetElixir resources.
Artificial Intelligence
A set of tools, including machine learning, algorithms, and data modeling, which can be used by marketers to analyze customer data and optimize content with the goal of improving key metrics such as campaign performance and customer conversion.
AOV (average order value)
A measure of how much a shopper generally spends when they purchase from a site.
B2B (business-to-business)
Commerce transactions which occur when one business sells a product to or performs a service for another business.
BOPIS (Buy Online Pick-Up In-Store)
A purchasing method and retail strategy in which a customer makes their purchase via an e-commerce site or app and retrieves their purchase at a nearby store, reducing shipping costs and returns.
Bounce Rate
The percentage of visitors to an e-commerce site who arrive and then leave the site without clicking through to other pages.
Click-through rate
The ratio of the number of clicks on to the number of impressions of a particular ad.
Conversion Rate
The ratio of the number of visitors to an e-commerce site who made a purchase to the number of total visitors.
CPC (cost per click)
The amount paid for each consumer click on an ad in a PPC (pay-for-click) marketing campaign.
Cyber 5
The shopping period between Thanksgiving and Cyber Monday.
Cyber 6
The recent phenomenon of the Thanksgiving shopping period extending through Giving Tuesday.
FACES
NetElixir’s annual customer insights report that introduces you to your industry’s high-value customers. This report charts the customer journeys of high-value customers across key retail industries to understand how their online shopping behavior changes throughout the year.
First-party data (1P data)
Customer information collected directly by and owned by a business.
HVC (high-value customer)
A customer who spends more than average customers, makes large purchases from the brand frequently, and is important to the business’s bottom-line. We find that a high-value customer is likely to spend three to five times more with a brand than average customers.
Latency
The amount of time between when a customer visits a site for the first time and when they make a purchase.
LTV (lifetime value) and CLV (customer lifetime value)
A metric that indicates how much money a customer spends with a brand throughout their lifetime.
LXRInsights
NetElixir’s proprietary customer intelligence platform, which segments customers into high-value, mid-value, and low-value customers. The platform tracks a customer’s paths to purchase from first point of attribution to final purchase to help businesses understand the nuances of each customer segment.
LXRGuide
NetElixir’s paid search management solution for small and midsize businesses, which uses 25+ optimization algorithms built on the experience of over 7 million hours of successful, hands-on paid search campaign management to help marketers grow their businesses.
LXRMarketplace
NetElixir’s hub of free web-based applications to help small businesses and freelancers improve their online marketing management and campaign performances and learn more about the functions of their e-commerce sites.
Machine learning
The use of systems and algorithms that can automate improvement to performance metrics by analyzing data and adjusting accordingly.
Omnichannel
A business strategy that involves seamless transition for customers between a variety of points of contact, including e-commerce sites, dedicated mobile apps, advertisements, and various social media platforms.
PPC (pay-per-click)
A type of advertising in which a business pays for each click made on an ad.
ROAS (return on ad spend)
The ratio of revenue earned as a result of advertising to the amount of money spent on advertising.
SEO (search engine optimization)
The improvement of the content of an e-commerce site and its associated marketing channels in order to increase the number and quality of site visitors.
SERP (search engine results page)
A website viewed after entering a search term into Google, Yahoo, Bing, or other search engines, on which certain sites are ranked via algorithms that determine how relevant the sites are to the search term.
Third-party cookies
A piece of data added to a customer’s browser by a domain other than the one they are visiting that can be retrieved later. Third-party cookies are the standard method of collecting, distributing, and using customer data which is facing major changes as blocking cookies become the norm.
YoY (year-over-year)
The comparison of data from a point in time in a particular year to data from that same point in time in the previous year.
