Acronyms & Terms

Acronyms & Terms in Social Media Networking

There are a variety of acronyms and new terms one should know related to the web and SMM {Social Media Marketing}

SMM

{Social Media Marketing}

There are a variety of acronyms one should know in the SMM {Social Media Marketing} field

ROI.. hugely important -  underutilized..

Olivier Blanchard Basics Of Social Media ROI

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Read more: Marketing Profs

B2B

  • Business to Business commerce. This term usually is used in connection with any business that provides products/services/information to any other business rather than to a specific customer.  The Social Media utilized is less one on one personal recommendation as per Facebook and more professional interaction as per Linkedin.

B2C

Business conducted between companies and individual consumers, rather than between two companies. A retailer like Home Depot/Wal-Mart/The Bay are examples of  B2C companies.

P2P

People to people we believe this is true of all business.

Likeonomics (n.)

The study of how affinities and passions affect the production, distribution, and consumption of goods and services.  Read more

API

Application programming interfaces

RM

{Relationship Marketing}

Yes, it’s important, “Who you know.” But now, with our attention-based culture we could say what’s even more important is, “Who knows you.” Mari Smith

From Wikipedia-First defined as a form of marketing developed from direct response marketing campaigns which emphasizes customer retention and satisfaction, rather than a dominant focus on sales transactions.

As a practice, Relationship Marketing differs from other forms of marketing in that it recognizes the long term value of customer relationships and extends communication beyond intrusive advertising and sales promotional messages.

With the growth of the internet and mobile platforms, Relationship Marketing has continued to evolve and move forward as technology opens more collaborative and social communication channels. This includes tools for managing relationships with customers that goes beyond simple demographic and customer service data. Relationship Marketing extends to include Inbound Marketing efforts, (a combination of search optimization and Strategic Content), PR, Social Media and Application Development. Relationship Marketing is a broadly recognized, widely-implemented strategy for managing and nurturing a company’s interactions with clients and sales prospects. It also involves using technology to organize, synchronize business processes, (principally sales and marketing activities), and most importantly, automate those marketing and communication activities on concrete marketing sequences that could run in autopilot, (also known as marketing sequences). The overall goals are to find, attract and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service. [1] Once simply a label for a category of software tools, today, it generally denotes a company-wide business strategy embracing all client-facing departments and even beyond. When an implementation is effective, people, processes, and technology work in synergy to increase profitability, and reduce operational costs.

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