Performance marketing glossary: jargon, translated

Agency reports are full of words that sound precise and are not. This performance marketing glossary translates them. Every entry gives a one-sentence definition, a blunt "But really…" line and one question to ask your agency. If a term can mean two things, the entry says which one we mean.
Glossary · 154 terms

154 terms, zero fluff. Press Enter to jump to the list.

How is the index laid out?

The index runs from A to Z, with a letter rail to narrow it. Each row shows the term and its one-line definition. Open the row for the "But really…" translation and a link to the full entry: example, easily confused terms, related terms and FAQ.

Three controls narrow the list:

  • Search matches term names and definition text.
  • Topic filters group terms by the question they belong to, such as measurement, finance or paid media.
  • The letter rail shows only the terms that start with one letter. It works alongside search and filters.

If nothing matches, the list says so. A missing term is a gap on our side.

Topic

Letter

Showing 154 of 154

A

  • But really: Asking the audience instead of arguing in a meeting. It tells you which version won, not whether the ads made money.

    Full entry
  • But really: The "you forgot something" email. Some of those people were coming back anyway, so measure it against a holdout.

    Full entry
  • But really: Google's scorecard for each auction. Money is one input. Relevance is another.

    Full entry
  • But really: Ads keep working a little after they stop running. A model that ignores this credits the wrong week.

    Full entry
  • But really: Meta's autopilot for sales. Fewer levers to pull, and you still need to check it isn't mostly reselling to people who'd buy anyway.

    Full entry
  • But really: A chatbot in a new jacket with "agent" on the label.

    Full entry
  • But really: Google answering the question on its own page, sometimes using yours. Fewer clicks can follow.

    Full entry
  • But really: Never switched off, so never tested off. Worth asking what happens when it is.

    Full entry
  • But really: The part of Meta's system that decides which ads even get considered. Any "Andromeda strategy" is an interpretation unless it cites Meta's own documentation.

    Full entry
  • But really: What a typical order is worth before costs. A bigger basket full of discounted, returned items is not a better basket.

    Full entry
  • But really: Apple opens your email for the reader. Your open rate went up. Nobody read more.

    Full entry
  • But really: A way of splitting credit. It tells you who was in the room, not who closed the deal.

    Full entry
  • But really: How long an ad is allowed to claim a sale after the fact. Each tool can set its own clock.

    Full entry

B

  • But really: Another site pointing at yours. Ask where the link comes from, not just how many there are.

    Full entry
  • But really: What would have happened anyway. A lift claim is only as good as this number.

    Full entry
  • But really: How much control you hand to the algorithm. It will chase whatever target you give it, including a bad one.

    Full entry
  • But really: MER's cousin, with agency fees and production costs left out of the bill. It looks a little better for exactly that reason.

    Full entry
  • But really: Visits where nothing happened. Sometimes that is a problem. Sometimes the page answered the question.

    Full entry
  • But really: Proof that people noticed you. Whether they then bought is a separate question.

    Full entry
  • But really: People looking for you versus people looking for what you sell. Only one of them needed convincing.

    Full entry
  • But really: The ROAS at which the ads pay for themselves and nothing more. Below it, you are paying to sell.

    Full entry

C

  • But really: CPA's grown-up sibling. It counts customers, not clicks, and includes the costs people like to leave out.

    Full entry
  • But really: Paying twice for the same customer.

    Full entry
  • But really: People who put something in the basket and left. Some come back without being chased.

    Full entry
  • But really: How long your money sits in boxes before it comes back as cash. Fast growth can make the wait longer.

    Full entry
  • But really: The customers who stopped buying. In ecommerce, "stopped" is a definition you choose, not a cancellation email.

    Full entry
  • But really: A measure of curiosity. Clicks are not customers.

    Full entry
  • But really: What the products you sold cost you. Not the ads, not the office, just the stuff.

    Full entry
  • But really: A way to stop averaging good and bad customers into one comfortable number.

    Full entry
  • But really: A messenger between your cookie banner and Google's tags. It does not replace the banner and does not make consent optional.

    Full entry
  • But really: It is what is left from a sale before you pay for the ads. That is the real ceiling on what ads can cost.

    Full entry
  • But really: The thing you wanted to happen, as counted by whoever is counting. Three tools, three counts, one order.

    Full entry
  • But really: A proper experiment, run by the company selling you the ads. Useful. Also worth reading twice.

    Full entry
  • But really: The share of visits or clicks that turned into the thing you wanted. Change the denominator and the number changes too.

    Full entry
  • But really: A second pipe for your sales data, because the browser can drop the first. Two pipes mean you need deduplication.

    Full entry
  • But really: Three numbers for how a page feels to real people. Worth fixing for buyers. Not a ranking cheat code.

    Full entry
  • But really: What one conversion cost you, according to a platform that also decides what counts as a conversion.

    Full entry
  • But really: What one click costs. The click is not the sale, so a cheap click can still be an expensive customer.

    Full entry
  • But really: The price of being shown a thousand times. Cheap attention is still attention you have to turn into sales.

    Full entry
  • But really: People are bored of your ad. The auction notices before your monthly report does.

    Full entry
  • But really: Making the shop work better for the people already in it. A button colour change without a hypothesis is guessing.

    Full entry
  • But really: Your own people, uploaded or tracked, so you can show them ads or exclude them. Your data, Meta's matching.

    Full entry
  • But really: Everything that happened before and after someone bought. Most of it never shows up in a tracking report.

    Full entry
  • But really: Sorting customers into groups you will actually treat differently. If nothing changes per group, it is a slide, not a segment.

    Full entry

D

  • But really: A smarter way to split credit, trained on Google's view of the path. Still splitting credit, not measuring cause.

    Full entry
  • But really: Google's social-style ads on its own surfaces. Judge them on incremental results, not on last click.

    Full entry
  • But really: How much you knocked off. Every point comes straight out of margin, before the ads are paid.

    Full entry
  • But really: A note to Gmail saying "if it doesn't really come from us, bin it". The "none" setting only watches. It doesn't protect.

    Full entry
  • But really: You sell to the customer yourself. You also pay for everything the retailer used to do.

    Full entry

E

  • But really: Google's shorthand for "would you trust this page?". You can't install it. You can show who wrote the page and why they know.

    Full entry
  • But really: Emails that send themselves when a customer does something. Some recover sales. Some take credit for sales that were coming anyway.

    Full entry
  • But really: Whether anyone gets to see your email at all. Your email tool can't promise that. Mailbox providers decide.

    Full entry
  • But really: Stop emailing people who stopped reading. Your inbox placement for everyone else depends on it.

    Full entry
  • But really: The share of visits where something happened. "Something" can be eleven seconds of reading.

    Full entry
  • But really: Matching sales to ad clicks using hashed customer details. Hashed data is still customer data, so consent still applies.

    Full entry
  • But really: Making sure one sale counted by two pipes stays one sale.

    Full entry
  • But really: A score for how well Meta can recognise who bought. It says nothing about whether the purchase was counted once.

    Full entry

F

  • But really: A cookie set by the shop you are actually in. Being first-party does not make it consent-free.

    Full entry
  • But really: Data you collected yourself. Owning it does not mean you can use it however you like.

    Full entry
  • But really: How many times the same person saw the ad, on average. Averages hide the people who saw it twenty times.

    Full entry
  • But really: Often means "please also spend on awareness". Fine, if someone can show what awareness is doing.

    Full entry
  • But really: A tidy diagram of a messy process. Real customers wander in and out in any order.

    Full entry

G

  • But really: Google says it's still SEO. Most of what works is the unglamorous part: being worth citing.

    Full entry
  • But really: A holdout for when you cannot track individuals. Whole regions go quiet on purpose.

    Full entry
  • But really: Recording who would have seen your ad, without paying to show them a charity ad instead.

    Full entry
  • But really: What's left after paying for the product. Ads haven't been paid yet, and shipping, fees and returns may not have been either.

    Full entry

H

  • But really: Real sometimes. Also the most popular explanation for a campaign that can't show direct results.

    Full entry
  • But really: Switch the ads off for some people and see what happens. The most honest question in marketing.

    Full entry
  • But really: Someone with the authority to say no before the AI acts. Not someone who reads the summary afterwards.

    Full entry

I

  • But really: How much of the auction you turned up for. Chasing the last slice is an expensive hobby.

    Full entry
  • But really: How many times the ad was shown. Not how many people saw it, and not whether anyone looked.

    Full entry
  • But really: "We couldn't tell" is not "it didn't work". Find out which before you bin the idea or rerun the test.

    Full entry
  • But really: Did the ads cause the sale, or did they just stand next to it and take the credit?

    Full entry
  • But really: The correction between what the platform claims and what a test measured. It belongs to one account, one channel and one attribution setting.

    Full entry
  • But really: Safari's house rules for tracking. A server-side setup doesn't automatically get around them.

    Full entry
  • But really: ROAS once the ads are no longer allowed to claim sales that were coming anyway.

    Full entry

K

  • But really: GA4's old word for conversion. Same idea, different counter, different total.

    Full entry
  • But really: The words people type, and the words you bet on. They are rarely the same list.

    Full entry
  • But really: How loosely Google may read your keyword. Looser means more searches, and more you did not mean.

    Full entry

L

  • But really: Where the ad sends people. If it doesn't answer the ad's promise, you paid for the click and lost the visit.

    Full entry
  • But really: The person who scores the goal gets all the credit. The rest of the team gets a mention in nobody's report.

    Full entry
  • But really: A real phase and a handy excuse. Worth asking which one you are hearing.

    Full entry
  • But really: How much better the exposed group did than the group that was left alone.

    Full entry
  • But really: A file Google Search says it doesn't read. Harmless. Not a strategy.

    Full entry
  • But really: Find more people like the ones who already buy. The copy is only as good as the original list.

    Full entry
  • But really: Points for buying again. Your best customers join first, so the members' numbers tend to look great.

    Full entry
  • But really: A forecast. Useful, until someone needs a bigger budget and it starts getting generous.

    Full entry

M

  • But really: Not "how did the budget do?" but "what will the next euro do?" Budgets should follow this one.

    Full entry
  • But really: Maths on your history to estimate what each channel did. Good for the big picture. Less good for this Tuesday's budget.

    Full entry
  • But really: The dull, honest number. Nobody gets credit, so nobody can fiddle it. It also cannot tell you which channel is doing the work.

    Full entry
  • But really: Meta's own estimate of what Meta caused. A better question, asked by the same referee.

    Full entry
  • But really: The smallest effect your test can see. If the real effect is smaller, the test will just shrug.

    Full entry
  • But really: A standard plug between an AI assistant and your data. A plug gives access. It does not check the sums.

    Full entry
  • But really: Credit shared more fairly among everyone in the room. It still doesn't ask who would have bought anyway.

    Full entry

N

  • But really: CAC with the returning customers taken out, so selling again to existing fans stops looking like growth.

    Full entry
  • But really: A list of searches you refuse to pay for. Nobody writes it once. It needs regular attention.

    Full entry

O

  • But really: Make leaving easy, or the inbox will make it easy for them by calling you spam.

    Full entry

P

  • But really: How long you are out of pocket. Finance cares about this more than any ratio on the slide.

    Full entry
  • But really: Stopping the test when it looks like you have won. Do it often enough and you will "win" tests where nothing happened.

    Full entry
  • But really: One campaign, every Google surface, and the machine holds the wheel. You still pick the destination.

    Full entry
  • But really: ROAS that has been told about costs.

    Full entry
  • But really: The plan to replace third-party cookies that changed course on the way. Check its current status before planning around it.

    Full entry
  • But really: Your catalogue, in the format the ad platform reads. If the feed is wrong, the ads are wrong.

    Full entry
  • But really: Text hidden in the data that tries to give the AI orders. Treat everything an AI tool reads as untrusted.

    Full entry

Q

  • But really: A diagnostic light on the dashboard. Useful for finding problems. Not a result to report.

    Full entry

R

  • But really: How many different people saw the ad. An estimate, not a headcount.

    Full entry
  • But really: You pick the conversations. Reddit finds the people who were recently active in them.

    Full entry
  • But really: Reddit hears about your sales from your server, not just from the browser. Send the same sale both ways without a shared ID and Reddit counts it twice.

    Full entry
  • But really: Your catalogue, turned into Reddit ads by Reddit. Only as good as the catalogue and the purchase events behind it.

    Full entry
  • But really: Reddit's autopilot. Useful when your tracking is good. When it isn't, it learns from the wrong sales.

    Full entry
  • But really: Reddit's tag on your site. It tells Reddit who bought after an ad. It does not tell Reddit, or you, whether the ad caused it.

    Full entry
  • But really: How many customers came back. The period you choose decides whether the number looks good.

    Full entry
  • But really: "You are probably running low." Time it from when your customers actually reorder, not from what the label says.

    Full entry
  • But really: Ads for people who already know you. Some would have bought anyway. That part is not the ad's work.

    Full entry
  • But really: Whether customers come back. Acquisition is easier to brag about. Retention is harder to fake.

    Full entry
  • But really: ROAS after the parcels come back. A platform counts the sale when it happens, not when it is returned.

    Full entry
  • But really: How much of what you sold came back. Ads take the credit on day one. Returns arrive weeks later.

    Full entry
  • But really: The agency is paid from your revenue. Which revenue, counted where and from what baseline, decides whether that is fair.

    Full entry
  • But really: Who bought lately, who buys often, who spends a lot. It describes behaviour. It does not predict who will be happy.

    Full entry
  • But really: Revenue per euro of ads, as the ad platform tells it. The platform also marks its own homework.

    Full entry
  • But really: ROI asks whether you made money. ROAS asks how much revenue showed up. Finance hears the first when you say the second.

    Full entry

S

  • But really: How much evidence you collected. Small tests produce confident-sounding noise.

    Full entry
  • But really: Spend more and hope the return holds. Returns tend to fall as spend grows, so ask where it stops.

    Full entry
  • But really: Why someone searched, not just what they typed. "Running shoes" can mean "teach me" or "take my card".

    Full entry
  • But really: Making your pages easy for search engines to understand and worth clicking. Slow, and nobody owns the results page.

    Full entry
  • But really: The page you get after searching. More things competing for the click than a plain list of links.

    Full entry
  • But really: Moving your measurement in-house. It can recover some lost data. It does not replace consent or fix a bad strategy.

    Full entry
  • But really: One visit, roughly. One person can have many, and the counting rules are not the same in every tool.

    Full entry
  • But really: Product ads built from your feed, not from keywords. The feed is your ad copy now.

    Full entry
  • But really: Google sets the bid for every auction. It optimises what you feed it, so feed it the right numbers.

    Full entry
  • But really: Bought from you? You may be able to email them about similar things. Signed up but never bought? Different rules, and it depends on the country.

    Full entry
  • But really: How many people pressed "spam". It is a small number with a big effect on where your next campaign lands.

    Full entry
  • But really: Boosting a real TikTok post instead of making an ad that looks like one. The creator has to say yes first.

    Full entry
  • But really: Ads don't respect borders. People commute, and so does your targeting.

    Full entry
  • But really: A reason to believe the result is not a fluke. Not a reason to believe it matters.

    Full entry
  • But really: Labels that tell machines what is on the page. They help with rich results. They are not a secret AI switch.

    Full entry
  • But really: Sometimes real. More often the word that turns up when each channel's numbers don't add up.

    Full entry
  • But really: A made-up control region built from real ones. It's only as good as how well it tracked you before the test.

    Full entry

T

  • But really: A snippet that sends data somewhere when something happens. No trigger, no data.

    Full entry
  • But really: You name a price per conversion and Google tries to buy at that average. It will not tell you whether the conversion was a new customer.

    Full entry
  • But really: You tell Google the ROAS you want, and it bids to hit it on average. If the conversion values are wrong, it hits the wrong target very efficiently.

    Full entry
  • But really: A cookie from someone other than the site you are on. That is what lets one company recognise the same browser on many sites.

    Full entry
  • But really: If you paid for it, label it. TikTok can quietly stop showing it if you don't.

    Full entry
  • But really: GMV is gross sales, and the campaign also counts organic and affiliate orders. Good for the headline. Check the margin.

    Full entry
  • But really: TikTok's tag on your site. Without it TikTok optimises blind. With it, TikTok still marks its own homework.

    Full entry
  • But really: A shop inside the app. Different checkout, different rules, different numbers from your own site.

    Full entry
  • But really: Creators sell your products for a cut. The cut comes out of your margin, not TikTok's.

    Full entry
  • But really: TikTok's autopilot, with a dial. Turn it up when your conversion data is clean. Otherwise it optimises toward noise.

    Full entry
  • But really: A small informant on your site that helps the ad platform grade its own results.

    Full entry

U

  • But really: Ads that look like a customer made them. Often a creator did, for a fee. Fine, as long as nobody pretends otherwise.

    Full entry
  • But really: Name tags for traffic. Without a naming rule they turn into a mess very quickly.

    Full entry

V

  • But really: The ad was on screen some time before someone bought. That's a coincidence until a test says otherwise.

    Full entry

W

  • But really: The platform owns the pitch, the ball and the scoreboard.

    Full entry
  • But really: The "we miss you" emails. Define "gone" for your product first, or you will chase people who were about to buy anyway.

    Full entry

Which terms get confused most?

The index has a short section on pairs that people mix up. Three are worth knowing before you open a report.

  • ROAS and MER

    ROAS credits revenue to ads, according to the platform. MER, in our convention, is total revenue divided by total marketing spend. No credit is split between channels.

  • MER and blended ROAS

    Both names get used for the same ratio. In our convention they differ: blended ROAS divides by media spend only, MER by all marketing spend. Check the denominator.

  • CAC and CPA

    CAC is the cost of winning a customer. CPA is the cost of an action. What goes into the cost is where they drift apart, so check whether fees, creative and tools are in.

Where should you start?

Start with the term in front of you. If you have a whole report open, read agency jargon explained. It translates the words reports lean on.

FAQ

A rider in a red cape and bicorne hat on a rearing yellow plush horse, after David's Napoleon Crossing the Alps

Why does every entry have a "But really…" line?

Because a definition can be correct and still useless in a meeting. The line says what the term means for the money.

Why do some entries say "our convention"?

Some terms have more than one definition in use. Where we picked one, the entry says so and says why. You can disagree. You should know which one you are arguing with.

Where do I start if I only have one report?

Pick the one metric in the report you could not explain to your board. Search for it, read the entry and use the question at the bottom.

Let’s find what’s actually working.

Next step. Know the words? Now check a number. Try the Is your ROAS real? calculator.