Learn a New Language. Internet Marketing!
When I started playing poker a few years back, I found myself bewildered at the terminology used by players. Terms like All-In and trips were confusing enough, but when it came to live straddles, split pots and crying calls, I was lost.
Now you’re probably think “why is this guy going on about poker in an article about internet marketing?” Well, the same applies to internet marketing too. Like poker, and most things really, internet marketing has it’s own language, hundreds of terms and abbreviations to describe common practices or systems in internet marketing. In this article, I’m going to explain some of the more common ones.
IM – Short for Internet Marketing.
Joint Ventures – A joint venture, or JV for short, is the coming together of two marketers to promote a product or service. For example, Marketer A has a product he wishes to sell, and Marketer B has a mailing list that she thinks may be interested in A’s product. They could conduct a joint venture, where B tells her mailing list about A’s product, and sales made from that mailing list are split between the two marketers, usually on a 50-50 basis.
Mailing List – Often referred to as a subscriber list or an opt-in list, this is a group of people who have given a marketer permission to email them with their newsletter/ezine, or perhaps just with special offers and gifts. Subscribers usually opt-in through a web form, then confirm their subscription at their email address. Once users have opted in, the list owner will be able to e-mail them, and it wouldn’t be considered spam as they have agreed to be emailed. Users can choose to opt-out of the mailing list at any time, many marketers have an opt-out link at the bottom of their emails.
EBook – An eBook is an electronic book, written by someone and sold online, or perhaps given away. They can be written on a range of things, from How to Breed Fish all the way to How to Make Money Online. Ebooks have become so popular amongst marketers because they are relatively simple to create. They can be written as a text file word and converted to pdf, or even written as a program, or exe file. Also, because Ebooks are digital, there is no delivery cost and there is an unlimited supply.
Niche Marketing – Niche marketing refers to marketing within a specific niche, or topic. They will identify a niche that are profitable, and target the group of customers related to that niche. Niche marketing includes the building of niche sites, small sites dedicated to a niche which has been chosen, often because it can be profitable through PPC advertising on the page, such as Google Adsense.
Affiliate Marketing – Affiliate marketing is the marketing of products through an affiliate system, such as Clickbank, Commission Junction or Clickbooth. It is a way to get others to market your product for you, directing people to your sales page, by offering them a commission on each sale that they make, usually around 50-60%, but sometimes even more.
SEO – SEO stands for Search Engine Optimization, and it is used to drive more traffic to a site by making it search engine friendly.
PPC – Pay per click, or PPC, advertising is a form of internet advertising where the advertiser pays a certain cost for each click of their advert. The largest example of a pay per click site is Google adwords, which produce the advertisements running along the right hand side of every Google search.
CPA/PPA – Cost per action (CPA) or Pay per Action (PPA) is another form of online marketing, similar to PPC. However, instead of paying per click, the advertiser pays a preset fee every time a certain action occurs. This action can vary from program to program, from the customer clicking the submit now button on a web form, to the sale being completed.