Have you ever been reading a business article or marketing trade publication and come across an abbreviation or acronym and asked yourself, “what the heck does that mean?”
It happened to me the other day. I was reading a marketing trade and came across the acronym FMCG. Flummoxed, I decided to put together a cheat sheet of definitions of the most commonly used acronyms and abbreviations in marketing. (With some commentary thrown in).
B2B- Business-to-Business– Companies that sell their products or services specifically to other businesses.
B2C- Business-to-Consumer– Companies that sell their products or services specifically to an individual consumer.
CorCom- Corporate Communications– Generally, an in-house term for the department that handles Corporate Communications.
CRM- Customer Relationship Manager– this is a fancy term for your company’s database of clients and prospects. Tools like Salesforce.com and MS Dynamics are CRM systems. CRM systems are awesome because they allow your sales team to record every interaction they have with a client or prospect including Opportunities. Us analytical marketing folks love CRM’s because they allow us to track marketing expenditures related to campaigns, events, and client acquisition and retention projects. By allowing us to assign dollar amounts to campaigns and for the sales team to determine activity rates among clients and prospects we can track all sorts of metrics like campaign effectiveness and ROI.
CPG- Consumer Packaged Goods– these are goods that are a) packaged and b) generally used every day by a consumer.
FMCG- Fast Moving Consumer Goods– another way to say CPG company. Seen more often in British publications.
IMC- Integrated Marketing Communications– My favorite marketing discipline! IMC is the concept of using one cohesive message across multiple marketing mediums. This includes branding, advertising, public relations, social media, SEO, promotions, and events. Here at STCG we create strategic and tactical plans that work within the framework of IMC. One voice. One message. Multiple mediums!
MarCom- Marketing Communications- Encompasses all of the marketing disciplines that deal with how your business communicates to your target market including branding, advertising, public relations, digital marketing, print, radio, direct mail and personal selling.
MarTech- Marketing Technology- This relatively new term encompasses technology related to marketing.
PPC-Pay-Per-Click- When running a paid search campaign, you are charged whenever someone clicks on your ad.
PR- Public Relations-This includes external activities related to publicly promoting your business. The most identifiable use is through press releases that are eventually disseminated across the wire.
SEM- Search Engine Marketing- A type of internet marketing that increases your website or landing page’s visibility in search engine page results. This form of internet marketing is usually paid.
SEO- Search Engine Optimization- The visibility of your website and landing pages for search engines to rank. Also known as organic SEO and unpaid search.
SERP- Search Engine Results Page –Where your website comes up on the page when someone searches for it on a search engine.
SMM- Social Media Marketing- Marketing done on social media platforms like LinkedIn, Facebook, Twitter, Snapchap, Pinterest, and Google +.
I hope this helps to illuminate some of the marketing acronyms’ and abbreviations that are floating around.
Have you come across one that we missed? Got a question? Let us know we’d love to hear from you!
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