Let’s Get Acquainted with the ABCs of Automotive Acronyms
When you are a newbie to making a career in automotive industry, of course, it would be mandatory for you to get acquainted with some automotive terms to make the job easy for you. We have listed many automotive terms and acronyms for you down below. Thank us later.
- Dealer Management System or DMS
This database makes sure that the dealership is running smooth like butter. This system interacts with the car dealer CRM, parts department, sales, accounting, inventory etc.
- Inventory Management System or IMS
A car dealership’s IMS and DMS tend to work parallel and hand in hand. The IMS is helpful in keeping the dealer apprised of what they need to order from their OEM or Original Equipment Manufacturer and what they require from the sales department to focus on.
- Original Equipment Manufacturer or OEM
This is the most important acronym among all. This is your brand—Toyota, Ford, GMC, Acura, you name it.
- Vehicle Description Page or VDP
This page entails the detailed breakdown of parts about a particular vehicle.
- Vehicle Search Results Page or VRP/SRP
This page lets a prospective customer to have a look at your existing inventory on the basis of the search results within your page.
The terms listed above are more of the basic ones. Now the terms listed below are most commonly used in the marketing department of the automotive industry. Read on.
- Cost per click or CPC
The eventual goal of any organization in their PPC is to have a low CPC for their ads, but sometimes some keywords are so important, that a higher cost has to be invested.
- Call to Action or CTA
Every digital ad needs a CTA. If you are trying to build an email list by asking for everyone’s email ID to download anything simple, CTA should always be a part of every digital ad you have.
- Click Through Rate or CTR
This is the traffic rate that clicks on a link from a digital ad to your website. It helps in knowing if your message and artwork are enticing enough to make the customers curious about more of what you’ve to offer.
- Key Performance Indicators or KPIs
They are ascertained via the Google Analytics link of your website. They will tell you where exactly the traffic is coming from. Once the indicators have been found, you can focus on the specific keywords, artworks, collaterals, or ads that are performing well.