There’s a lot of jargon in the digital marketing world. Here’s key phrases every dealer needs to know now to cut through the gobbledy-gook and get down to business.
glossary
Attribution Model | Bounce Rate | Click | Conversion | CPA | CPC | CPL | CTR | CVR | Geofencing | Goals | Google Display Ads/Google Display Network | Impression | Landing Page | Programmatic Display | Repeat Rate | Website Visit | VDP View
Attribution Model
An attribution model is the rule, or set of rules, that determines how credit for sales and conversions is assigned to touchpoints in conversion paths.
Bounce Rate
The percentage of visitors to a particular website who navigate away from the site after viewing only one page.
Click
Ad Clicks, or simply Clicks, is a marketing metric that counts the number of times users have clicked on a digital advertisement to reach an online property.
Conversion
A conversion occurs when a visitor to your website completes a desired goal, such as filling out a form or making a purchase. What constitutes a conversion may differ greatly between providers, platforms and campaigns.
CPA
CPA in marketing stands for cost per acquisition or action and is a type of conversion rate marketing. Cost per acquisition refers to the fee a company will pay for an advertisement that results in a sale.
CPC
Cost-per-click (CPC) bidding means that you pay for each click on your ads. For CPC bidding campaigns, you set a maximum cost-per-click bid - or simply "max. CPC" - that's the highest amount that you're willing to pay for a click on your ad (unless you're setting bid adjustments, or using Enhanced CPC).
CPL
Cost-Per-Lead, or CPL, is a digital marketing pricing model whereby the advertiser pays a pre-established price for each lead generated.
CTR
Click-Through Rate is the number of clicks your ads receive divided by the number of times your ad is shown.
CVR
Click-Through Rate is the number of clicks your ads receive divided by the number of times your ad is shown.
Geofencing
Geofence marketing is a form of location-based marketing where a geographic boundary is placed around a point of interest. When a mobile device enters this area, the geofence can trigger several different events, including the delivery of specific ads.
Goals
In Google Ads, using a goal eases your decision-making when you create a campaign in Google Ads by guiding you to the specific features designed to help your campaign succeed. When you create a campaign, you can select a goal. The goal you select should align with the main thing you want to get from your campaign, for example, Sales or Website traffic. After selecting a goal, you'll see relevant, recommended features and settings to help you attain the results that matter most to your business.
Google Display Ads/Google Display Network
Display campaigns serve visually engaging ads on the Google Display Network. The Display Network helps you reach people as they browse millions of websites, apps, and Google-owned properties (such as YouTube and Gmail).
Impression
An impression is a metric used to quantify the number of digital views or engagements of a piece of content, usually an advertisement, digital post, or a web page. Impressions are also referred to as an "ad view."
Landing Page
A landing page is a standalone web page that a person "lands" on after clicking through from an email, ad, or other digital location.
Programmatic Display
Uses automation and data to deliver relevant ads and efficient results across millions of websites and apps across the web.
Repeat Rate
Your repeat rate is the average number of conversions you receive based on interactions that lead to at least one conversion. It's effectively the number of conversions you would have recorded using the “every conversion” setting divided by the number you would record using the “one conversion” setting.
Website Visit
A visit to your website, including all consecutive page views, that ends when the user has been inactive on the page for 30 minutes or navigates away from the site.
VDP View
Vehicle Detail Page View or Vehicle Display Page View. Some providers claim this is the equivalent of a shopper coming to browse a specific vehicle on your lot.
So, What's Next?
Understanding the lingo is just the tip of the iceberg when it comes to navigating the ever-changing world of digital marketing.
To learn more about how to leverage digital to do more for your business, DOWNLOAD our Ultimate Guide To Digital Marketing For Dealerships.
