Glossary of acronyms
We know, we know…we’ve used a load of acronyms that you might not know. And the whole point of this whole thing is to come up with a shared language we should be using to talk about our industry, but how can you do that if you don’t know what we’re talking about!
So, here’s a list of the acronyms and their definitions for quick reference.
AI: Artificial Intelligence. The simulation of human intelligence in machines which means they can perform tasks that only humans can usually do, such as learning, problem-solving and pattern recognition.
API: Application Programming Interface. This allows different systems to communicate and exchange data with each other. For example, many social listening platforms are able to access and display Meta’s data thanks to APIs
CLV: Customer Lifetime Value. A prediction of the possible net profit that might come from the entire future relationship with a customer. You can use this to prioritise which customers to focus your attention on.
CRM: Customer Relationship Management. A way for you to manage your relationships and communication with your customers and potential customers. The aim is to improve customer satisfaction, retention and loyalty.
CSAT: Customer Satisfaction. A was to measure how satisfied customers are with your products, servicew or interaction. This is usually done through customer surveys.
CX: Customer Experience. The overall perception a customer has of your brand based on their experiences with you across all touchpoints and channels.
KOL: Key Opinion Leader. Someone who can influence public opinion on a particular topic or industry.
KPI: Key Performance Indicator. A way to measure value by showing how well you’re achieving your key business objectives.
ML: Machine Learning. A type of AI where computer systems automatically learn and improve from experience without being explicitly programmed. This is done by using algorithms to identify patterns in data and make predictions or decisions.
NLP: Natural Language Processing. A type of AI that deals with interaction between computers and human language. This is what enables machines to understand, interpret and generate human-like text or speech.
NPS: Net Promoter Score. A way of measuring customer loyalty and how likely they are to recommend your brand or one of your products or services. This is usually done through customer surveys.
ROI: Return on Investment. A way to measure how effective an investment was, based on how much money was made as a result.
SEM: Search Engine Marketing. A type of digital marketing that helps you promote your brand’s website by making sure it appears higher on search engines’ results pages. This is usually done through paid advertising.
SEO: Search Engine Optimisation. A way of optimising the content on a web page to make sure it appears higher on search engines’ results pages.
SERP: Search Engine Results Page. The page that shows a list of websites that relate to someone’s search query. It usually shows a mix of organic and paid search results.
SoV: Share of Voice. A metric used to measure how visible your brand or products (or a relevant topic) are in media coverage or online conversations, compared to your competitors. It's usually talked about as a percentage of total mentions or conversations.
UGC: User-Generated Content. Any form of content - videos, images, reviews etc - that’s created and published by everyday, unpaid users, rather than by a brand or its employees.
User Experience. The overall experience someone has when using your product, system or service.
