Here is our quick guide to some of the most commonly used business, marketing and digital acronyms. A jargon-busting list gives you the inside track on knowing your SM from your CR and your RT from your PV! We hope you find it a useful reference point.
Attention/Awareness, Interest, Desire, Action
The four stages customers go through while deliberating purchase of a good or service.
Application Programming Interface
A set of routines and rules for building software applications.
Application Service Provider
A company that provides computer based services over a secure network.
Business to Business
Companies that sell to other businesses.
Business to Consumer
Companies that sell directly to consumers.
Business to government
Companies that sell to governments.
Budget, Authority, Need, Timeline
The conditions that need to be considered by sales reps to determine whether their prospects can buy what they sell.
Bounce Rate
Website Bounce Rate
The amount of people as a percentage who look at your website but then leave straight away without looking any further.
Email Bounce Rate
The number of emails that were unable to be sent, usually due to out of date mailing lists.
Consumer to business
When consumers give something of value to a business that the business then consumes, e.g. focus groups.
Customer Acquisition Cost
The total cost of sales and marketing combined when acquiring your customer.
Controlling the Assault of Non-Solicited Pornography and Marketing
A regulation to control the amount and type of commercial marketing that people receive, normally via email.
Chief Accounting Officer
Chief Accounting Officers are responsible for overseeing all accounting functions.
Capital Expenditure
Money invested by a company into land or equipment, in order to better their productivity.
Canadian Anti-Spam Legislation
A regulation to control the amount and type of commercial marketing that people receive, normally via email, relates specifically to a Canadian law passed in 2013.
Chief Executive Officer
The most senior ranking officer in a company tasked with managerial decisions, often reports directly to the board of directors.
Chief Financial Officer
A senior executive with responsibility for the management of financial affairs within the company, often reports to the CEO (Chief Financial Officer) and board of directors.
Chief Information Officer
The senior executive in charge of information technology and strategy or implementation within a company.
Customer Lifetime Value
A prediction of a customers value to the business over the whole future of the relationship with that customer.
Chief Marketing Officer
The executive who oversees all marketing obligations within an organisation.
Content Management System
A web application to make it easier for individual users to create and maintain a website without specialist knowledge.
Cost of Customer Acquisition
The total cost of sales and marketing combined.
Cost of goods sold
The value of all the goods sold in a given period of time.
Chief Operating Officer
The Senior executive tasked with managing the day-to-day running of the business, overseeing business operations.
Content Optimization System
An improved version of the Content Management System tailored to individual customers.
Cost-per-Action
An internet advertising model that allows the company to see all the actions a visitor to a site may have taken (e.g. a click, form submit, purchase, etc.) and determine whether it leads to a sale.
Cost-per-Click
An internet advertising model that allows the company to see all the clicks a visitor to a site may have done and determine whether it leads to a sale.
Conversion Rate
The number of people who completed a certain action on a webpage (such as submitting a form), as a percentage.
Customer Relationship Management
Software that allows companies to keep track of all they do with their customers and clients.
Conversion Rate Optimization
The process of improving your website conversion rate by tailoring your site better towards your target audience to increase sales.
Chief Security Officer
A senior executive in charge of the security of the company's business systems.
Cascading Style Sheets
A language that deals with the appearance and presentation of a webpage.
Call-to-Action
A web link on your site that encourages a visitor to take action and click it.
Chief Technology Officer
An executive responsible for managing the technological requirements of a company.
Click through Rate
The percentage of visitors to your website that click through to another stage of the website.
Customer Experience
How a customer feels about a business, from the reputation of the brand to the service upon direct interaction with the business.
Direct Mail
Marketing directly aimed at an individual or organisation via email.
Direct Message (twitter)
A message on twitter to contact a follower and possible customer directly.
Domain Name Server
A server that translates a web address into one or more IP addresses.
Effective interest rate
The interest rate on a loan after it has been adjusted for the rate of inflation.
End of Day
At the end of the business day.
End of message
Signposts the end of a message, usually email.
End of Week
At the end of the business week.
Estimated Time of Arrival
The time at which something (e.g. a colleague en route to a meeting) is expected to arrive at a certain location.
Estimated Time of Delivery
The time at which something (e.g. a delivery van) is expected to leave for delivery.
Financial Minister
A government position which oversees a proportion of the governments finances.
Google Analytics
A service Google provides that offers statistics about your websites, visitors and sales.
Gross Domestic Product
A measure of a country's development by looking at the goods and services produced in that country.
Gross Profits
The amount of money made by a company after costs have been taken into account.
Hyper-Text Mark-up Language
A language that deals with the content and data of a webpage.
Internet Protocol Address
A number given to each component in a computer network that uses Internet Protocol to communicate.
Initial Public Offering
When shares are available to be purchased by the general public for the first time.
Internet Service Provider
A company providing internet services, e.g. Google Chrome.
Just In Time
When something is completed without much margin for error.
Key Performance Indicator
A measurement used by companies to show a certain project or activity's success.
Last In, First Out
The most recently produced items are recorded as sold first, can also refer to the last person hired in an office who will be the first to be let go in tough times.
Lifetime value
A prediction of a customers value to the business over the whole future of the relationship with that customer.
Ratio of Life Time Value to Customer Acquisition Cost
The ratio between the life time value of a customer and their acquisition cost.
Market Identifier Code
A four alpha character code to identify different trading markets.
Month over Month
Changes in the levels of certain aspects of a business with respects to the previous month.
Monthly Recurring Revenue
For a subscription based business, this it the amount of revenue they receive each month.
Month to Date
A time period starting at the beginning of the current month and ending at that point in time.
Non-Disclosure Agreement
A legal contract between two organisations or individuals which show the confidential material they share together but don't want disclosed to a third party.
Net Promoter Score
A measure for consumers on a scale of 1-10 on how much they would recommend the goods or service they have consumed.
Not Safe For Work
A slang word used to warn internet users that what they are about to click on is not suitable for the work environment.
Not To Exceed
A level of carbon emission that companies are not allowed to go over by law.
Opportunity Cost
Due to finite resources, choices have to be made within a business and the opportunity cost is the value of the option that was not chosen over another.
Out of Office
Simply means that you aren't in the office to take calls or emails.
Profit After Tax
The total revenue for a business after taking into account costs and taxes.
Project Manager
A person allocated a specific project to oversee and manage.
Point of Sale
The time and place where a consumer purchases goods or services from your company.
Pay-per-Click
An internet advertising model where a company can pay a website to display an advert and they must pay each time the ad is clicked.
Public Relations
Public Relations is about trying to get your target audience to notice your company and initiate a connection with the consumers directly.
Paid Time Off
A certain number of days a year that you are allowed to take off from work while still receiving payment. You can use these days at anytime throughout the year.
Page View
A single image of a webpage on the internet.
Quality Control
The process of checking that all goods and services produced are of a certain standard.
Quarter over Quarter
Changes in the levels of certain aspects of a business with respects to the previous quarter.
Quick Response Barcode
Barcodes that can be scanned using a smartphone.
Quarter to Date
A time period starting at the beginning of the current quarter and ending at that point in time.
Return On Investment
A measurement used to indicate the performance of a company by recording how much profit is generated from their investments.
Return on Sales
The amount of profit a company receives which came from sales.
Rich Site Summary
A web feed that continually posts updated information or posts.
Retweet
When you re-post something another twitter user has posted.
Software-as-a-Service
Software operated by another company that store your personal information in the cloud, e.g. Pinterest.
Search Engine Optimization
Methods of getting your website to rank higher in search results, allowing more people to see your website and increase the number of potential customers.
Service Level Agreement
An agreement within a company between marketing and sales about what each expects from the other.
Social Media
Social media platforms are websites on which you can have a profile and post links, photos, videos, and text that you want your clients to see.
Small to Medium Business
A business with between 10 and 500 employees.
Social Media Marketing
Businesses can use their social media platforms to market specifically to their consumers or potential consumers.
Small Office/Home Office
Refers to a business that has 10 or less employees.
Strengths, Weaknesses, Opportunities, Threats
A SWOT analysis allows the company to weigh up and pinpoint all strengths and weaknesses it has so that it can tailor business plans to enhance strengths and reduce weaknesses.
To Be Completed
Assigned to a task that must be undertaken within a certain timeframe.
User Interface
An interface that gives the user control of the hardware or software.
Uniform Resource Locator
Also know as a web address, it is what customers can type into the address bar to find your website.
Unique Visitor
A visitor to your site that returns more than once over a certain timeframe.
User Experience
How a customer feels about a business, from the reputation of the brand to the service upon direct interaction with the business.
Word of Mouth
How information passes from person to person, via oral or online communication.
Year over Year
Changes in the levels of certain aspects of a business with respect to the previous year.
Year to Date
A time period starting at the beginning of the current year and ending at that point in time.
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