For several years now, e-commerce has been experiencing rapid growth. Highlighted by the health crisis of 2020, companies have realized the need for a commercial presence on the Internet. Internet users have also become accustomed to shopping on the web.
Faced with these different developments, it is therefore important to know some key concepts to make you feel comfortable with terms related to online sales and digital.
In this article, we present the top 15 marketing definitions you need to know!
Top 15 marketing definitions
A / B testing
A / B testing, also known as split testing, is a process of random experimentation in which two or more versions of a variable (web page, page element, etc.) are presented to different segments of site visitors to determine which version has the greatest impact on business.
Acquisition marketing promotes products to new audiences and aims to acquire new customers. Therefore, it is a key element of marketing in e-commerce. The goal is to create targeting strategies for consumers who are researching or considering buying a product.
The customer persona is a portrait of the person who represents your target audience. This customer personality is fictional, but based on extensive research of your existing or desired audience.
In marketing, we talk about conversion when a visitor to your website becomes a potential customer from a visitor or, if he buys a product, he becomes a customer. Conversion occurs when one of the passive visitors turns into an active, interested visitor or customer.
Cross-selling or cross-selling refers to the marketing of additional products to existing customers, which is often practiced in the financial services sector, but this technique is also often found in e-commerce.
Customer life value
Customer lifetime value (CLV) is a method of measuring the average revenue that a customer has earned over the life of their relationship with the company. Comparing customer life expectancy with the cost of acquiring a client is a quick way to assess customer profitability and the company’s long-term growth potential.
Frequently Asked Questions
FAQ is an abbreviation of Frequently Asked Questions. Offer frequently asked questions to your customers in your online store to answer most of the questions they are likely to ask, your customer service will save valuable time.
Green marketing is increasingly in vogue. It is about relying on ecological and ecological values and using them as a point of sale. Ecological marketing or green marketing is based on the company’s brand image, which must respect the environment in order to share common values with customers.
Inbound marketing or inbound marketing combines techniques to help potential customers find your business. Early contact can turn into brand preference and lead to conversion. Inbound marketing uses, for example, content marketing, blogging, event management, search engine optimization (SEO), social networking, etc. While outbound marketing seeks customers, inbound marketing focuses on visibility, so potential customers come to you.
KPI stands for Key Performance Indicator. A key performance indicator is measurable value that shows how effectively a company is achieving its key business goals. Organizations use KPIs at many levels to assess their ability to achieve their goals.
In digital marketing, a landing page is a standalone website, created specifically for a marketing or advertising campaign. This is where a visitor comes after clicking on a link in an email or on ads from Google, Bing, YouTube, Facebook, Instagram, Twitter.
Persona is a fictional character that you create based on your research to present different types of users who might be interested in your service, product, website or brand. Creating a persona helps to understand the needs, behaviors, and goals of your customers or visitors. Using a persona makes the design and development process easier, thanks to anticipating the user experience in your target audience.
Retargeting is a very common form of digital marketing in which merchants serve ads to users who have visited their website or a particular website. This is an effective way to target people who have already shown interest in your business or brand. Thanks to re-targeting, you give yourself a second chance to turn your potential prospect into a customer, using advertisements or online marketing campaigns.
SEM or search engine marketing is the act of using paid strategies to increase search visibility. With SEM, brands pay for ads to appear as search results on search engine pages (SERPs). They target selected keywords so that when a user searches on those terms, they see a brand ad. The brand is charged only if the user clicks on the ad.
There are actually two interpretations of 4C marketing that correspond to two strategies. 4C refers primarily to Lauterborn’s 1990 definition: C for the consumer (his desires and needs), for cost, for convenience (or ease) of shopping and communication. The abbreviation 4 C is also used to denote the quality of communication in marketing: clarity, credibility, coherence and competitiveness (definition of Jobber in Fahi, 2009).
Marketing lexicon: an important resource
To cope with the development of the Internet and digital marketing, it is important to know the jargon associated with it.
At first glance, knowing different concepts may seem complicated, but once you discover them, you will master them all! And fortunately for you, some companies make it easier to access this knowledge. This is especially the case with the French e-commerce solution WiziShop.
Some time ago, he presented a complete section dedicated to the lexicon of online sales on his website.
Within this online dictionary you can find many definitions related to trade in general, logistics, online sales and entrepreneurship. The team also regularly adds terms to this professional lexicon to expand it and follow market trends.
To explore the definitions of e-commerce, discover WiziShop’s e-commerce vocabulary!