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Marketing For Small Businesses - When it comes to small business Internet marketing, there are so many skills to master to implement this strategy successfully, from original content creation that boosts Search Engine Optimization (SEO) to effectively managing your brand’s various social media channels.
Another challenge to business owners with limited experience in the social media world is to understand all of the industry acronyms that are constantly thrown around.
We recently shared a post about some of the most common social media marketing acronyms, and we hope that this was helpful in decoding some of the important conversations that happen between a brand’s management and marketing teams.
What Is a Marketing Business
To expand on our original post, we wanted to take a deeper look and define some additional social media acronyms that business owners are likely to come across:
1. Social, Local, Mobile (SoLoMo)
We will continue to hear this popular industry buzzword throughout 2013 with the continued growth and momentum behind social media, local media, and mobile media.
2. Social Media Optimization (SMO)
This concept is very similar to SEO in that it refers to maximizing a brand’s social media strategy across a variety of platforms. Sometimes this acronym and SEO are used as one in the same.
3. Conversation Rate (CVR)
This acronym is used to measure small business Internet marketing efforts to determine the percentage of online visitors that actually become customers.
4. Mimeme (Meme)
This term refers to something that has gone viral on the web.
5. Click Through Rate (CTR)
Another tool to measure social media marketing efforts, CTR is used to determine the number of clicks out of a total number of views of a certain link.
6. Social Media (SM)
This one is self-explanatory, but it may not always be immediately clear of what the acronym stands for if someone throws “SM” around in conversation.
As a business owner, taking the time to make yourself aware of these common social media acronyms can be instrumental in making sure that you execute your small business Internet marketing strategy effectively.
It can also help to prevent any miscommunication between management and marketing. Are there any additional social media acronyms that you would like to have clarified?