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Glossary of Market-y Terms

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Ever see a word, phrase, acronym, or abbreviation in the DM Engage Facebook group and say to yourself, “Gee, I wonder what the heck that means?”

Never fear, the DM Engage Glossary of Market-y terms is here! These terms cover what’s frequently used inside the Facebook group so you can learn the lingo. Trust us—you’ll catch on quick.


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40/10/10 – Optimal conversion rates in relation to Lead Magnet, Tripwire, and Core Offer, respectively. This is the goal that DigitalMarketer shoots for and generally recommends as a good goal, but conversion rates will vary significantly based on product and industry. Test and see what’s good for you!

A

AC – An acronym for ActiveCampaign, a popular email marketing automation tool.

ACV – See “Average Customer Value”

Average Customer Value – A formula that tells you how much your customer is worth.

Average Visitor Value – A formula that tells you how much you can pay per click.

AVV – See “Average Visitor Value”

B

BFBC – An abbreviation for Black Friday Bootcamp. A yearly webinar that DigitalMarketer hosts every Black Friday (the day after Thanksgiving in the United States). All proceeds go to charity.

BOFU – An acronym for Bottom of Funnel. Relates to content and offers at the “Conversion” stage of the marketing funnel.

C

C&C – An abbreviation for the Content & Commerce Summit. (Retired)

Cert(s) – Certifications offered by DigitalMarketer.

CF – An abbreviation for ClickFunnels. A popular landing page and funnel-building software.

Click Through Rate – A way to measure the ratio of clicks to the number of people who saw an ad, email, or landing page. It is calculated by number of clicks / number of impressions X 100.

CO – See “Core Offer”

Cold traffic – People in your target audience who have never heard of your business.

Conversion Rate Optimization – The process for increasing the number of people who take a specific action on your site.

Core Offer – Your flagship offer in a sales funnel.

Cost Per Click – The amount you pay a publisher (like a website, social media platform, etc) each time one of your ads is clicked. See also: “PPC”

Cost Per Lead – An advertising pricing model where the advertiser is charged for each lead generated from the ad.

Call To Action – An instruction given to your audience so that they take an immediate, measurable action.

CPC – See “Cost Per Click”

CPL – See “Cost Per Lead”

CRM – An abbreviation for Customer Relation Management, usually in reference to a CRM software that is designed to help businesses automate and synchronize sales, marketing, customer service, and technical support.

CRO – See “Conversion Rate Optimization”

CTA – See “Call To Action”

CTR – See “Click Through Rate”

CVO – See “Customer Value Optimization”

D

DM  An abbreviation of DigitalMarketer.

DM fam  An abbreviation of DigitalMarketer family. Often used by members of the Digital Marketer Engage Facebook group to describe community members.

DM HQ  A DigitalMarketer membership program that offers courses and certifications in the 8 core areas of digital marketing. It is designed for small and enterprise-level businesses to certify employees, and check up on their progress.

DM Lab  DigitalMarketer Lab. A membership program that includes a library of execution plans (step-by-step marketing tactics), live webinars with DigitalMarketer staff and industry experts, and access to an online community.

DME  DigitalMarketer Engage. A private facebook group for members of DigitalMarketer Lab (hint: it’s the group this glossary is posted in).

DMers  An abbreviation of digital marketers. Often used by members of the DigitalMarketer Engage Facebook group to describe community members.

DML – See “DM Lab”

E

Execution Plan – A term for the step-by-step marketing tactic guides located inside of DigitalMarketer Lab.

EP – See “Execution Plan”

F

FB – A common abbreviation for Facebook. Also see “Funnel Blueprint”

Funnel Blueprint – A DigitalMarketer course on how to build an effective sales funnel, including downloadable templates to implement directly in your own business. It comes with landing page copy chunks, sales letter copy templates, upsell copy templates & scripts and our best landing page templates.

G

GA – An abbreviation for Google Analytics. Software offered by Google that tracks and reports website traffic.

GDPR: The General Data Protection Regulation (GDPR)  a data protection regulation and privacy law for all individuals within the EU. GDPR enables citizens and residents to have more control over their personal data, and regulates the rules for international businesses by unifying the regulation within the EU.

GTM – An abbreviation for Google Tag Manager. A system offered by Google that manages tags used to track and report on website pixels.

H

hot traffic – Refers to audiences that have already purchased something from you.

HQ – See “DM HQ”

I

J

K

KPI – An abbreviation for Key Performance Indicator. A metric used to track the success of an business or marketing initiative.

L

Lab – See “DM Lab”

lead – A potential customer. Typically one who has expressed an interest by giving contact information, such as an email address.

Lead Magnet – An irresistible bribe offering a specific chunk of value to a prospect in exchange for their contact information. The goal of the Lead Magnet is to maximize the number of targeted leads you are getting for an offer. It’s the first step in the Customer Value Optimization process.

LM – See “Lead Magnet”

M

Machine – The Machine is a DigitalMarketer course that outlines our entire email strategy along with providing 36 done-for-you, ‘copy & paste’ turnkey email campaigns. (Retired)

MOFU – An acronym for Middle of Funnel. Relates to content and offers at the “Evaluation” stage of the marketing funnel.

N

Net Promoter Score (NPS) – a tool that can be used to gauge your customers’ experiences and loyalty to your brand, a metric that can be used to measure the likelihood that your customer’s would recommend you.

O

Office Hours – A weekly webinar for members of DigitalMarketer Lab with DM staff and industry experts. We speak on a different topic each week and answer your questions live! Office Hours is scheduled every Thursday at 2pm CST.

OH – See “Office Hours”

OP or OP2 – OptimizePress or OptimizePress2. A WordPress plugin that easily creates landing pages, sales pages, membership portals, and product launch funnels.

OTO – An abbreviation of One Time Offer. A scarcity offer that is only made once to a specific audience. Similar to a flash sale.

P

pixel – Little snippets of code advertisers place on their web pages that allow them to follow you around the web with relevant ads. See also: “Remarketing”

PLF – A system created and promoted by Jeff Walker that provides step-by-step training in launching a product.

PM – An acronym for Private Message, a direct, one-on-one message on a social media instant messaging feature. Also see: “Profit Maximizer”

PPC – An abbreviation for Pay Per Click. Refers to the advertising model where advertisers pay a publisher every time one of their ads is clicked. See Also: “CPC”

Profit Maximizer – An immediate upsell offered after the Core Offer that serves to increase the average transaction value per customer.

Q

R

Relevance score – A metric on Facebook ads that tells the advertiser how audiences are reacting to the ad. It is based on positive and negative feedback from the specific audience to which the ad is targeted.

remarketing – A marketing strategy that places advertisements in front of an audience based on previous online actions. See also, “pixel”

retargeting – See “Remarketing”

ROI – An abbreviation for “Return on Investment.” A metric used to compare the benefit of an investment to the cost of production.

S

SOP – An abbreviation for Standard Operating Procedure. A documented method for a routine task. DigitalMarketer’s execution plans are our SOPs for various marketing tactics.

splinter – The process of breaking off bits and pieces of your core product and selling them a la carte.

split test – A method of testing two variants to locate areas of improvement. Often used to improve landing page performance. Also referred to as an A/B Test.

T

T&C – An abbreviation for the Traffic & Conversion Summit.

TCS – See “T&C”

TOFU – An acronym for Top of Funnel. Relates to content and offers at the “Awareness” stage of the marketing funnel.

Tripwire – An irresistible, super low-ticket offer (usually between $1 and $20) that is designed to convert prospects into buyers.

TW – See “Tripwire”

U

V

Video Sales Letter (VSL) – A promotional video that gives same information provided in a traditional sales letter.

W

warm traffic – Audience who has displayed interest in your offer but have not made a purchase.

What’s Working Now – A monthly webinar for DigitalMarketer Lab members. Hosted by DigitalMarketing staff, the live webinar discusses the latest in digital marketing strategies. (Retired, replaced by Office Hours)

WP – An abbreviation for WordPress. A popular content management system. Available for free at wordpress.org or used for website hosting at wordpress.com.

WWN – See “What’s Working Now”

X

Y

Z

 

Questions? Comments? Suggestions?
This list is by no means exhaustive, but if you feel there’s something important missing, please send an email to community@digitalmarketer.com to let our team know!

The post Glossary of Market-y Terms appeared first on DigitalMarketer.

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