Marketing Dictionary – C

Common Marketing Measurement Terminology

Campaign

An advertising or marketing campaign is a set of coordinated, specific activities that are based on a common theme and are designed to promote a product, service or business through different advertising media.

Churn Rate

The percentage of customers a company has lost over a specific time period.

Click Through Rate (CTR)

A ratio that measures how often people who see an ad will click on it. CTR is determined by dividing the number of clicks an ad receives by the number of times it is shown. This formula is often used to measure the success of an ad compared to others.

Closed-loop

Closed-loop measurement leverages your customer data to provide insight into what your customer does offline, pre and post-exposure to media. Understanding how your customers react offline, before and after seeing your ad, allows you to “close the loop” and holistically analyse your offline and online measurement. This will allow marketers to more effectively identify consumer behaviours and trends, improve targeting to activate media buys, while eliminating advertising waste.

Conversion Rate

The percentage of a specific audience who take the desired marketing action. Digital conversion rates are determined by dividing the total number of clicks by the number of conversions.

Cookies

Snippets of information stored on a user’s computer by a website, to recall user preferences for future visits.

Cookie-less Advertising

Heightened emphasis on user data privacy and security has triggered the complete disappearance of third-party cookies by internet browsers like Chrome, Safari and Firefox by 2022. In a cookie-less world, marketers will lose the ability to learn about their consumers’ online behaviours via detailed data from third-party vendors, presenting a significant change to the way brands perform targeted advertising and personalisation in marketing.

Cost Per Click (CPC)

The cost or cost equivalent and advertiser pays for each consumer click-through.

Cost Per Impression (CPI)

The cost or cost-equivalent an advertiser pays for each digital impression.

Cost Per Point (CPP)

A ratio based on how much it costs to buy one rating point, or one percent of the population in an area being evaluated. It’s a measure of advertising efficiency that helps when comparing the effectiveness of advertising.

Cost Per Thousand (CPM)

A ratio based on the marketing cost of reaching a thousand people. Divide the cost of the campaign by the total number of impressions, responses or reach, then multiply the total by 1,000

Cross Channel Marketing

Cross Channel Marketing is an effective way for brands to create a seamless and consistent experience for their customers as they navigate a multitude of connected channels. Through cross channel marketing, brands benefit from greater visibility and they are able to leverage the data collected through the customer journey to determine how to improve on those touch-points across the channels involved in this journey. With a cross-channel marketing strategy in place, customers can easily transition from channel to channel, ensuring a consistent and personalized communication with a brand.

Customer Retention Rate

The percentage of customers a company has retained over a given time period.

Customer Experience Management (CX)

A process and technology-driven practice of tracking, overseeing and organising every interaction between the customer and the company during the customer journey, with a primary goal to increase customer satisfaction and loyalty.

Customer Journey

The multiple online and offline touch-points that determine how a consumer comes into contact with a brand, seeks more information and makes a purchase decision. Successful brands focus on developing a seamless journey from awareness to engagement to purchase that ensures that touch-points interconnect and enhance the experience. Also known as Path to Purchase (P2P).

Customer Relationship Management (CRM)

A technology for automating and managing interactions with customers and potential customers. The goal is to improve customer connections, streamline and automate sales, marketing, customer service and support.

Customer Retention

Keeping current customers actively connected with your brand by purchasing. On average, it costs brands five times more to acquire a new customer than to retain an existing one.

Cyber Monday

Cyber Monday refers to the Monday after Thanksgiving in the U.S., which is marked by special holiday promotions by online retailers, originally in response to the success of Black Friday. The term was coined by Ellen Davis of the National Retail Federation and Scott Silverman, debuting Nov. 28, 2005, in a Shop.org press release entitled, “‘Cyber Monday’ Quickly Becoming One of the Biggest Online Shopping Days of the Year.” In 2006, CNN Money noted that in-store shortages of popular toys and gaming consoles were making online Cyber Monday shopping more attractive to holiday shoppers.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *