Today we thought we’d take a beat from all the uncertainty going on in the world and share some straightforward marketing facts—with a fun little spin. Unless you’re in the field, marketing jargon can sound like a foreign language. We love our acronyms and abbreviations, that’s for sure. From ABM to ICPs and CTAs, it’s a lot, especially for those who are just getting started. That’s why we’ve compiled this glossary of acronyms we think every B2B marketer should know. If we’ve missed any important ones, please let us know in the comment section below!
But before we get to the definitions, we thought we’d let the Triblio Tribe kids take a first stab at the question, “What does ABM stand for?” Here’s a little video with a lot of laughter to kick off your Friday. Enjoy!
Keep reading for the list of marketing definitions we promised you.
ABM (Account-Based Marketing): a B2B strategy that orchestrates marketing campaigns to drive pipeline and revenue, alongside sales, within a group of target accounts, as opposed to a traditional, leads-based strategy. Get the basics in our Essential Guide to ABM.
B2B (Business-to-Business): a term that refers to commercial transactions between businesses, rather than between businesses and individual consumers.
B2C (Business-to-Consumer): a term that refers to direct transactions between businesses and consumers who are the end-users of its products and services.
BOFU (Bottom of the Funnel): the third section of the sales and marketing funnel, below TOFU and MOFU, that maps to the “purchase” stage of the buyer journey. The goal is to turn the prospects that are in your pipeline into customers.
CMS (Content Management System): a web application designed to make it easy for non-technical users to create, edit, and manage a website. Common CMSs include WordPress and Drupal.
CPC (Cost-per-click): the price you pay for every click in a paid advertisement. Often used interchangeably with PPC (pay-per-click), CPC refers to the metric whereas PPC refers to the overall online marketing model.
CRO (Conversion Rate Optimization): a systematic process of driving more results from existing website traffic. The goal is to test and alter different design and campaign elements to increase the percentage of traffic that completes a specific, desired action, such as watching a video, contacting sales, or completing a purchase.
CRM (Customer Relationship Management): companies use CRM technology to store, manage, and analyze interactions with customers and prospects throughout the customer lifecycle. Common CRMs include Salesforce, Microsoft Dynamics, and HubSpot CRM.
CTR (Click-Through Rate): the ratio of clicks on a certain link over the total number of views of that link. Common use cases include measuring digital advertising (clicks / impressions) and email marketing (clicks / email opens).
DNS (Domain Name System): DNS servers convert domain names to IP addresses, serving as the internet’s phonebook. If “CNAME” followed by a string of numbers seems familiar to you, at some point you probably needed to update your DNS records in order to add subdomains.
DMP (Data Management Platform): technology used to gather, store, and analyze audience data from multiple sources. For example, digital ad buyers and publishers will gather and store data such as demographics, cookie IDs, etc, to help businesses segment and target certain audiences.
DSP (Demand-Side Platform): a system that allows buyers of digital ads to manage multiple ad exchange and data exchange accounts through one interface.
ICP (Ideal Customer Profile): a description of the ideal buyer persona for your product or service. In B2B, common characteristics used in the ICP include geography, firmographics, job seniority, etc. Scroll to the end of this guide for an ICP worksheet.
KPI (Key Performance Indicator): a quantifiable measure used to track progress towards set goals and evaluate the success of an organization, team, or employee. Common KPIs in B2B marketing include organic website traffic, form conversions, and new opportunities created.
L2A (Lead to Account): often refers to technology for lead-to-account matching, mapping, routing, attribution, etc., which automates the process of cleaning prospect data and connecting leads to the right accounts. In B2B marketing, results of L2A technology include more granular segmentation, accurate targeting, and efficient campaigns.
MAP (Marketing Automation Platform): technology that helps marketers automate repetitive tasks on multiple channels, such as email and social, based on preset rules. MAPs also help marketers gather, store, and manage prospect information.
MOFU (Middle of Funnel): the second section of the sales and marketing funnel, in between TOFU and BOFU, that maps to the “consideration” stage of the buyer journey. The goal is to increase purchase consideration in prospects and add them to the sales pipeline.
MQA (Marketing Qualified Account): a target account that marketing deems ready to talk to sales based on the level of engagement from all the stakeholders within that account, not just an individual lead. Learn more about the role of account scoring and MQAs in measuring ABM success this blog post.
MQL (Marketing Qualified Lead): a lead that the marketing department determines is in the buying cycle and deems more likely to become a customer than other leads based on the lead’s level of engagement.
NPS (Net Promoter Score): a customer satisfaction metric that measures, on a scale of 0-10, the degree to which people would recommend your company to others.
PPC (Pay-Per-Click): an online advertising model where the advertiser pays a fee each time someone clicks on their ad. Popularly used to drive traffic to websites via search engines and social media platforms
SLA (Service Level Agreement): a contract that establishes a set of deliverables that one party has agreed to provide another. B2B marketers can have SLAs with partner organizations, such as agencies, media partners, and analysts, as well as internal groups such as the sales team with regard to account qualifications.
SMB (Small and Medium-Sized Businesses): describes small businesses (100 or fewer employees) and medium-sized businesses (100 to 999 employees), as opposed to large and enterprise businesses, often used by B2B marketers to segment and target.
SAL (Sales Accepted Lead): a MQL that the sales team approves of. Many companies have a large MQL to SAL drop off. If that happens to be the case for you, check out this blog post about solving your MQL problem.
TOFU (Top of Funnel): the first section of the sales and marketing funnel, above MOFU and BOFU, that maps to the “awareness” stage of the buyer journey. The goal is to get more people within your target market to know about your product or service.