Interstitial? Conversion pixel? Bounce rate? When it comes to media planning and buying, the best marketing plan can get lost in translation.
So what do all these words really mean? Here are 16 media terms every marketer should know:
- Added value refers to the value that is added to a product or service. This may come in the form of extra campaign, brand and spot mentions on the radio, etc. Added value is negotiated by media buyers when planning the radio or TV buy.
- Bounce rate measures the percentage of people that leave your website. The higher the bounce rate, the faster they are leaving. This means that visitors are not looking elsewhere on your site for content. The goal is to maintain a consistent low bounce rate. Our agency benchmark is 45%. This figure is dependent on the website and the content.
- Clickthrough rate (CTR) is the percentage of people that clicked on your web advertisements that lead to your site.
- Conversion rate refers to the percentage of people who have completed a trackable action. Like following, filling out a form or subscription, downloads, etc.
- Cost per thousand (CPM) is the cost you pay for 1,000 impressions on your advertisement.
- Engagement rate refers to any interaction within an ad unit. This can include more than just visiting a website. It includes clicks, comments, likes or shares. Engagement rate has become a standard measurement for social media success.
- Google analytics is a free tool created by Google that measures and tracks your website’s performance. Google Analytics will track the average time spent on site, bounce rate, page views and percentage of new visits. You can track where your site visitors are coming from, for example: which social platforms they are coming from. Google Analytics will also track your Landing Pages and how often they are shared.
- Gross rating point (GRP) is a measurement of audience size. This measures the exposure to one or more commercials or programs. One GRP = 1% of TV households.
- Impressions account for the amount of times an advertisement was viewed. This may include multiple views per person.
- Interstitial is an advertisement that appears between two content pages. It is often more attention grabbing than a banner ad as it is designed to move automatically across the page.
- Make good refers to the commercial time given when an advertisement did not obtain the exposure it was agreed upon and paid for.
- Opt-in occurs when a user agrees to receive your brand’s marketing campaigns. This could be via email or text campaigns. They are opting in to your branding communications.
- Pay per click (PPC) refers to paid advertising that you pay for every click on your online ad.
- Programmatic buying describes the bidding, buying, analyzing and optimizing of online display advertising, through automated software. In short, it’s on demand media buying.
- Reach refers to the amount of people that were exposed to the advertisement.