Top Ten Phrases To Know In Marketing- ready for images and the joeh treatment, Joe

SAN ANGELO, TX -  Marketing is a complex and confusing topic for even the most savvy of business owners.  And it has only gotten more confusing since digital advertising has grown exponentially over the last decade.  While professionals in the industry wave acronyms like CTR in the face of business owners trying to wade the difficult waters of marketing their product and getting their slice of the 96% of Americans with internet access who have made online purchases,  it can be confusing and dangerous to budgets especially for small businesses.  This article will help you translate the language of the marketing world.

1. CTR: Click Through Rate is defined as the percentage of times your advertisement was seen and clicked on by the viewer.  CTR is calculated by (number of advertisement views/number of times the viewer clicks the advertisement.)
2. CPC: Cost Per Click is the average cost per link click. CPC is calculated by (total amount spent on that advertisement/how many times the viewer has clicked on the link.) 
3. CPA: Cost Per Acquisition is defined as how much money is spent to acquire a new prospect or lead. CPA is calculated by (total amount spent on all marketing/number of new leads.)
4. CPM: Cost Per Thousand (the Roman numeral for 1,000 is M,) is defined as the amount is costs an advertiser to purchase 1,000 impressions.  The bulk of marketing is creating brand awareness so this is usually one of the most important metrics in purchasing advertising. CPM is calculated by (cost for 1,000 impressions *units of 1,000 impressions purchased.)
5. CTA: Call to Action is defined as an element of a digital advertisement pushing for a specific behavior of the viewer such as , Buy Now or Call Now buttons in a graphic advertisement.
6. ROAS: Return On Ad Spend is defined as the profit from an advertisement versus the money spent on the ad. ROAS is calculated by (profit made/ money spent on advertisement.)
7. ROI: Return On Investment is defined as the total money spent on marketing compared to how much is spent on marketing.  ROI is calculated by (total earned/money spent on marketing.)
8. Display Ad: Once (and some still do,) referred to as Banner Ads, these are images, video and audio displayed on websites.
9. Google Analytics: This is a platform on the Google digital network that allows websites to see how many, who, when, where and learn the why of the visits to their website.  Most non-digital marketing products cannot give a definitive number of views with data and metrics to back up any idea of impressions, however in digital advertising businesses can find out exactly how many unique potential clients have seen their display ad.
10. Impression: An impression is an ad being viewed.  Every marketing product has projected impressions, however digital products give advertisers the ability to know how many times their ad was viewed as well as who and if they were a new or repeat viewer.  This allows companies the ability to control costs as well better understand the purchasing habits of their prospective clients, or the appropriateness of the media and advertising content for their desired goal be it brand awareness, subscribers or purchasers.

Knowing the language spoken by marketers is just the first step in spending a company's advertising budget wisely. Ensuring that you purchase the widest viewed advertising products and fill them with engaging content are the next steps to taking a struggling company out of the red or continue traction for a soaring company no matter the product.