Digital marketing has revolutionized the way the business industry operates. It has done so by ignoring the benefits of traditional methods and taking advantage of the endless benefits that the internet brings. More specifically, it has reversed the way the business industry works in a way that no one expected. In many ways, given how this field has been in such a short amount of time, it’s safe to assume that there will never be another industry tactic as effective as it. Even better, it was designed so that the average everyday business owner can understand the platforms and take advantage of them. With all of that being said, it may come as a surprise to see how many people can’t even get a grip of the simplest digital terms that are needed to get the fullest effect. Without knowing so much as a simple definition, it’s difficult to get the most out of digital strategies such as paid advertisement and search engine optimization which can get technical in some areas. In extreme cases, not knowing some of these terms can do more harm to a campaign than good. While knowing these terms can’t guarantee success for your campaign, at the very least, it will give you a heads up on the competition. With this in mind, let’s go over seven basic digital terms you need to know.
#1: Return On Investment(ROI)
One of the most important digital terms to understand is Return On Investment. Otherwise known as ROI, knowing this term will allow you to structure the rest of your campaign with efficiency. More importantly, it holds more weight than people realize. Apart from a campaign, this is a golden business term every business owner needs to know to be successful. It’s a simple term that allows you to simplify your business. Overall, the business lesson this term teaches you is to earn more money than you invest.
#2: Return On Ad Spend(ROAS)
Not to be confused with Return On Investment, Return On Ad Spend is a separate term that has to do more with online strategies than business as opposed to the other way around. Also known as ROAS, this term is similar to ROI in that it deals with figuring out a way to see a higher return on the amount you invest. The only difference is that ROAS has to do with the amount of money that is invested in ads. More than anything, this term provides a more detailed analysis that the broader ROI term does.
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#3: A/B Split Testing
On the technical side of a campaign, it’s hard to find a term that is more important than A/B Split Testing. This term teaches you what is arguably the most important rule in the field, test everything. However, it is usually associated with testing different ad copy as a way to find the best performing one.
#4: Remarketing
Another important technical term you need to know is Remarketing. Quite self-explanatory, this term deals with the strategy of sending new ads to potential clients who might have been lost within your sales funnel.
#5: Quality Score
Quality score is a determining performance factor of your ads and other similar contributors. However, it is one of the most controversial terms in the entire field. It’s controversial in that no one knows exactly what it takes to receive a higher score. All there is to go buy are the guidance tips that Google gives.
#6: Bounce Rate
Given how important a website is to implement any digital strategy, a term you will need to know is Bounce Rate. This term shows how long a website visitor stays on a page before they leave. It’s an important metric term in that it shows you what web pages can be optimized to perform better.
#7: Call To Action
Perhaps the most important digital term to know is a Call To Action. This term is important in that it entails virtually every part of the field. From website content, website pages, and ad copy, this term will remind you to always keep the client in mind.
