Cost Per Acquisition (CPA)

In digital marketing, a benchmark is a specific metric that you compare results to. A benchmark can relate to impressions, clicks, open rate, sales, or many other metrics. An established threshold is then used to determine success or failure of a particular campaign or piece of content. Benchmarks for an email campaign, for example, might be 20% open rate, 2% click through rate, and 0.5% sales rate on a product that the email is highlighting. 

The success or failure of the campaign would be measured against these numbers. Ideally, you’re developing benchmarks based on past campaign results in order to create personalized benchmarks for your business that allow you to compare across marketing channels.

In marketing, a lead is a prospective customer. Not all leads are equally promising, and not all engagement types are the same that signify a potential lead. Any engagement with your company or website, though, indicates a potential lead.

A Minimum Viable Product (MVP) is a term most often used in product development in business. It refers to the least a particular product needs to do in order to be usable by its intended user.

The purpose of the MVP is to create a usable product and get feedback on it immediately, before additional features are added. This can reduce development time by identifying flaws in a product early in the development process.

This can also relate to web-based applications, which often have non-core features that are not needed for the product to work well for a majority of its users.