Demystifying the jargon
As an industry, digital is prone to dazzling technical jargon and endless evolution. Just as we grasp a new digital trend, another one crops up.
Yet if we take away the smokescreen of complex terms, we find that digital is essentially about connecting and learning about our audiences, customers and our businesses. Our IAB SA team has translated the key digital terms to English. This is not only a great cheat sheet for the upcoming IAB Digital Summit, but a cheat sheet to navigating to year ahead in digital.
· CLF – Closed loop feedback empowers companies and employees to have an ongoing conversation with customers. This usually means identifying key customer touch points and asking for feedback.
· CLV – Customer lifetime value. How much someone spends with you, from their first purchase, to now.
· Content Marketing – This is information that has editorial integrity and does not punt a product. When you hear this, think about issues and topics on your audience’s mind, not product features!
· CPA – Cost per acquisition. How much it costs in total to get a customer to commit. It is calculated by dividing the marketing cost, but the number of customers.
· CPI – Cost per install. How much it costs to get your customer to install your app. This data is relevant when in-app subscription is live.
· Data management platform (DMP) – A centralised platform used by agencies, marketers and publishers to manage and fuse data. A variety of sources can be merged in the platform to generate audience segments for improved targeting
· Demand-side platform (DSP) – Enables advertisers and agencies to automate the purchase of display, video, mobile and search ads. It assesses the attributes of ad impressions and can assign a bid based on those attributes.
· Earned media – This means mentions and exposure of your brand/product/business/company/opinion in the (not only digital) media space, by others. It is not necessarily something you publish or post, and certainly not space that you buy!
· First-party data – First-party data is information collected by digital publishers about their visitors’ behaviour. First-party data often includes CRM, subscription/survey and social media data. This type of data is often seen as more valuable as it typically has higher degrees of accuracy.
· Optimise our media spend – Make sure your business isn’t wasting money.
· Creating engaging content – Create stuff that doesn’t bore the people you’re speaking to.
· Illustrate value through digital – Show your clients or shareholders how digital makes money.
· OTT or Over-The-Top – In broadcasting, over-the-top content (OTT) refers to delivery of audio, video, and other media over the internet without the involvement of a multiple-system operator in its control or distribution.
· Independent self-regulation – This is the process whereby an organisation monitors its own adherence to legal, ethical, or safety standards, rather than have an outside, independent agency such as a third party entity monitor and enforce those standards.
· UX – User experience. Not to be confused with just having pretty pictures, or UD (user design), UI (user interface) or IA (information architecture), but certainly dependent on each of these!
For more concrete insights on the key digital terms and trends for 2016, click here for the full glossary of terms.
About IAB South Africa
The Interactive Advertising Bureau (IAB) South Africa is an independent, voluntary, non-profit association focused on growing and sustaining a vibrant and profitable digital industry in South Africa. The IAB South Africa represents the digital industry across all sectors including the media, the marketing community, government and the public, and also acts as the channel through which international bodies can enter the South African digital market. The IAB South Africa currently represents over 200 members including online publishers, creative, media and digital agencies, brands and educators between them accounting for more than 36 million local unique browsers and almost 1 billion page impressions. The IAB South Africa strives to provide members with a platform through which they can engage, interact and address digital issues of common interest, thereby stimulating learning and commerce within the South African digital space. To find out more about the IAB South Africa, visit its website (www.iabsa.net), like us on Facebook https://www.facebook.com/iab.southafrica and follow @iab_sa on Twitter.
Major Partner: Diamond Partner
IAB Digital Summit in association with BBC.com
Category Partners: Platinum Partners:
Gumtree, News24, SABC Digital, Telkom, Unilever
Effective Measure, Public Ideas, Standard Bank
Additional Partners and Official Suppliers
360 Degrees, AlwaysOn, The Clay Collab, Endcode, Hello Yes, iDidTht.com, Metropolitan Republic, Native VML, Net Media Planet
Official Media Partners
Bizcommunity, eNCA, Memeburn, Ornico