The more you know the language of marketing, the more confident you’ll feel navigating it.
Here’s the next set of must-know terms.
Terms to Know:
- CAC (Customer Acquisition Cost):
The cost of acquiring a new customer is calculated by dividing total marketing expenses by the number of new customers.
- LTV (Lifetime Value):
The total revenue a business can expect from a single customer over their lifetime. Pairing CAC and LTV helps assess marketing efficiency.
- Organic Reach:
The number of people who see your content without paid promotion. Focusing on shareable content can boost organic reach.
- Paid Media:
Any marketing you pay for, such as ads on Google, Facebook, or other platforms. It's key to balance this with organic strategies.
- Influencer Marketing:
Leveraging individuals with a large following to promote your products. Authentic partnerships yield the best results.
Keep expanding your vocabulary—knowledge is power, especially in marketing!