I always say the distance between where you are to where you want to go is the words that you use words are very very powerful. Words shape our world. Words shape our beliefs so whenever you want to learn something new. If you want to have a new career I believe there are certain words that we need to be aware of. Just like when you’re learning a new language you need to first learn vocabulary. New words of that language.
Similarly, If you are starting digital marketing you need to learn several words. Here are 7 words that you should know when it comes to your digital marketing.
7 Digital Marketing Terms You Need To Know In 2022
CBO stands for Campaign Budget Optimization this was rolled out on
Facebook in place of ad set budget optimization. It moved the budget
from a campaign from the ad set level to the campaign level. When this happens and you use CBO inside of your ad campaigns Facebook in this instance or the other ad channels that might be leveraging CBO divides your budget between the ad sets that you have within that campaign and
eventually. It is a pretty effective and winning strategy. Their new CBO
campaign budget optimization allows you to kind of be a little more hands-off in that regard.
#2 Dynamic Ads
Dynamic ads have been around for a while however in and likely there is much more usage of this term in comparison to previous years. Dynamic ads have been pushed a lot more frequently across all these different ad channels because they’re that much more effective in most instances in comparison to standalone static ads.
The essence of a dynamic ad is just adding more than one variable for whatever the creative assets are as example you can add up to 10 images or 5 videos you can add up to five different pieces of body copy or you can add up to five different headlines. You know dynamic ads are very effective in the sense that Facebook or Google AdWords or whatever ad channel you might be using.
Take all those creative assets and they test them out with one another just based on the number of variables that you contribute enabling you to easily find the number of total variations that you’re going to have that these ad platforms are going to test on your behalf. This helps you as an advertiser because the same way that campaign budget optimization eventually biases towards the winner it’s the same thing with dynamic ads.
#3 Content Marketing
Content Marketing is a term used for marketing content. The simplest way to go about content marketing is to boost the post potentially even just towards your existing audience, especially on Facebook and Instagram.
Nowadays you might be reaching five to ten percent of the total people that follow your page just by spending five dollars to get in front of everybody who follows you is an effective way of content marketing. You can also spend money on content to get it in front of people who don’t know you yet a lot of people do that in an attempt to build followers or a a multitude of other reasons.
#4 Top of Funnel
Top of the funnel refers to the marketing activities carried out to create awareness about a brand or product. It is part of the theoretical customer journey also called a “purchase journey.” TOFU helps marketers spread awareness, educate prospects, and create a buzz about a product, service or brand.
#5 UTM Parameters
UTM parameters are just short pieces of code that you can add to link for example, the links you share in your social posts. They include information about the link’s placement and purpose, making it easier to track clicks and traffic from a specific social media post or campaign.
#6 Data Enrichment and Cleaning
Data Enrichment and cleansing is the process of ensuring the data you have is correct and of high quality. Data enriching is the process of enhancing that data in different ways to make it more useful.
Updated data and information always help in increasing the conversion rate. That’s why it is important to do data enrichment and cleaning.
#7 Single Source of Truth
The concept of Single Source of Truth is essential for all analytics and measurement as it is necessary to have consensus on what data is used for decision making. A single source of truth is where you determine what the core business metrics that you can measure your activity against are.
It’s especially important to have a single source of truth as all digital platforms measure metrics differently so you need to have a unifying set of metrics to measure different channel performance against.