This wacky media world we live in is full of buzz words and poorly articulated phrases. This little glossary is meant to help with that.
A Cold Start - A cold start means no brand, no traffic, no content, no revenue – no credibility. Everything that needs to be done needs to be created without any momentum.
Bots (or spiders) – Web services like Google, Bing, and a range of other search engine and marketing programs use bots to crawl the web following links and looking at content. This is one of the reasons why links are so important, it literally enables Google to discover new content and based on the link sources and destination determine relevance and popularity. Older web traffic statistics may include bots in their traffic reports, this is a mistake and should not be included – Google Analytics for instance is a ‘conservative’ analytics tool and excludes bots.
Business Basics – Business Basics refers to a page (or more) in print that highlights digital including your website, email list and any social profiles. It is used as a platform to let readers know that if they like what they read in print, then there is a lot more good stuff online. Examples of things to highlight on this page include your Facebook page, events calendar, directory, social promotions and many more.
Call-to-Action – People are busy and messages are surrounded by noise, success with a marketing message includes a clear call-to-action that informs the reader what action they should take. If they’re engaged with your message they’ll take that action and you’ll make more money.
Click Through Rate (CTR) – Click Through Rate is a measurement of an ads effectiveness. If an ad is shown 10 times and 1 person clicks on it the ad is said to have a 10% CTR. In reality, a slew of research shows that the CTR average across the internet is under .1% – that’s less than 1 click per 1000 ads shown. The ability to deliver a good ad (well crafted and the appropriate ad size and location on a web page) in association with appropriate targeting – targeting local people with local ads in our case – has allowed Locable ads to generate between 500-1000% the CTR as the internet average with the best performing ads garnering many times that.
Content Marketing is an umbrella term encompassing all marketing formats that involve the creation and sharing of content in order to attract, acquire and engage clearly defined and understood current and potential consumer bases with the objective of driving profitable customer action.
Digital Editions – publishers use this phrase in a variety of ways but generally a digital edition of a magazine is available via some sort of flipbook technology built in Flash. Yep, the same flash that Apple does not support with their iPhone or iPad. On occasion publishers will refer to a PDF version of their magazine as a digital edition but this isn’t really accurate and PDF versions are bad because they’re huge files and generally must be fully downloaded by the user before they can be read.
Economies of Scale – A competitive advantage due to size enables a business to offer their products or services at a lower price and generally at a higher quality than competitors. It’s one reason why we’ve formed Locable as a Network – to introduce scale to local publishers. More on Economies of Scale.
Economies of Scope – When you have the ability to deliver value to customers in complementary ways, you enjoy Economies of Scope. We see this all around from “Would you like fries with that?” to all inclusive vacations ad agencies that can handle all of their clients marketing needs. While local publishers traditionally lack scale they have incredible opportunity to deliver value to local businesses due to their scope.
EdgeRank – Facebook created EdgeRank in 2011 to address the overwhelming amount of information people get from their friends and the pages they’ve Liked on Facebook. In a nutshell, it attempts to determine how relevant the post is to you and then based on that level of relevance it may or may not appear on your Newsfeed (the stream of posts that most people use on Facebook). The net result is that only a fraction of activity is visible to any one person and only a fraction of one’s activities (whether a person or business) are visible to the people that their friends with or are Liked by. Thus the importance of relevance and engagement is elevated and spammy quantity over quality posts are hindered. Learn how EdgeRank works.
Impressions – Ad Impressions refer to the number of times an ad is presented and thus seen by a visitor (a human not a bot). If a given web page has 3 ads on it and that page is visited 5 times then you can simply multiply 5 by 3 to get 15 ad impressions.
Juice – SEO juice is the credit Google, Bing and others attribute to your content. If someone links to you that link is a ‘vote’ for your content and increases your SEO juice.
Local Voices – Local Voices are individuals in your community that are passionate about local issues, topics or interests. They may or may not already blog but want to be part or lead a conversation online with other enthusiasts.
Media Mindset – this is a term we’ve adopted because we find publishers think about their publication, the paper doohickey that they create and distribute. A Media Mindset is one that what you do in print, online, with social media and even at events are all related and work together to deliver a consistently compelling cross media community engaging experience.
Monetization – the process by which you generate revenue from a given activity… generally used when referring to websites or other digital activities. For instance, you can Monetize a website via ad sales, sponsorships, advertorials, contests etc.
Page Views – the number of page views a website or Facebook page gets tells you how many unique pages (that is unique URLs) are loaded in a given period of time. Note that Page Views and “hits” are only loosely correlated and a Page View statistic should only refer to human visitors while hits incorporates a range of statistics including visits from bots (see above) which are not valuable from a traffic analysis perspective.
Print-to-Web – When combining The Locable Approach with the Media Mindset we’re able to take print readers and convert them into web visitors – no small feat. We convert print advertisers and deliver more value through the integration of web packages. And we take a print brand and create a media brand from it. Thus, Print-to-Web is a set of practices, technology and resources employed to build community online around established local media properties.
Purchase Funnel – Not every message is useful for each person. There are many variations but a purchase funnel includes 4 main parts (actually, any decision we ever make includes these 4 steps some are just very rapid): 1. Awareness; 2. Interest; 3. Desire; 4. Action… know what you want your audience to do and how you want to impact them to get the most out of each and every message.
Pureplays - *Borrell Associates classifies a pureplay digital media company as one that is not tied by management to a traditional media company. Examples would be ReachLocal, Yodle, Google, Atlanta.com, MyrtleBeach.com, Patch, etc.
Search Engine Optimization (SEO) – SEO is the process of maximizing the ability for people to find your website when conducting a web search. SEO is about content quality and relevance more than ‘technology’ though a website needs to have a solid technical foundation to ensure the other SEO efforts are fruitful. SEO is a process, it’s ongoing, and it’s something you cannot afford to do poorly.
Search Engine Marketing (SEM) – like SEO, SEM is about driving ROI through search engines but it’s specifically a paid placement approach that enables a business to select which search phrases they’d like their ad to appear next to. Cost is determined on a Cost-per-click basis that is the advertiser pays for each click the ad receives.
Seed – the size of the initial audience reached by a piece of content. This initial size affects that contents viral properties as in “going viral.”
Solution selling is a sales methodology. Rather than just promoting an existing product, the salesperson focuses on the customer’s pain(s) and addresses the issue with his or her offerings (product and services). The resolution of the pain is what constitutes a true “solution”. – Credit Wikipedia.
The Locable Approach – we don’t approach the “local” problem the same way as everyone else. We love building community, we say “Main Street for the 21st century”, by working with local publishers. The Locable Approach combines the values, readers and relationships of our affiliates with a specific web-based content strategy and approach to serving local businesses that allow us to build community online and help businesses join the conversation all while helping publishers become more profitable.
Value Multiplier is a phrase the describes taking one action yet receiving multiple benefits from that effort. Within Locable, it’s a signal how important it is for lean organizations like local publishers to get more than one benefit out of a given activity and, most notably, how digital efforts need to fit within existing print efforts. This can apply to content, promotion, ad sales, or any other aspect of your business where redundancy equals waste – wasted time, wasted opportunity, lost revenue, or simple inefficiency – the equivalent of a husband and wife each driving their own car on their way to romantic getaway… Value Multiplier’s are the business equivalent of car-pooling and they let you get in the Express Lane.
Viral Coefficient represents how shared a piece of content. Content with a viral coefficient great than 1, as in on average for each person that sees a piece of content they then share it and more than 1 new person sees that content. It literally snow balls. If less than 1, then each person who sees content shares it with fewer than 1 additional person and it eventually burns out (most common).
Website Visitor (or “visitor” for short) – Generally website visitors are measured on a monthly bases, though any time frame can be used, and this measures the number of unique individuals that visit a website, Facebook page etc over that time frame. Note that visitors are meant to indicate the number of unique people that visit a site though the multi-device world we live in makes this an estimate i.e. you might visit a website from your laptop, work computer, mobile phone and tablet – technically that may be recorded as 4 visitors even though practically you’re one person.