It is essential to understand the content in anEcommerce report in a meeting or sale call which consists of specific terms.
So, these are the 15 terms everyone in the reporting industry should know to wrap up and convey the message to the people in the conversation.
15 Ecommerce Report Terms Everyone in the Industry Should Know
It is broadcasting a spotlight of a product via media to approach consumers. The visual content can be in various forms such as words, images, sound and taste samples.
Patterns depict tracked data to analyze the market. To be more detailed, data can come from web traffic, survey, conversions, media access, and so on.
This is the activity of writing articles to deliver information to the community. These copies are published on private websites reflect the blog owner’s opinion and view about a social matter.
4. Bounce rate
The number of people visit your site and leave without taking any action on the page. Hence, web owners never want this rate to be high.
5. Buyer Persona
Representation of your ideal buyers based on market research or hypothesis. This date helps salespeople of your team have an idea of the expectation and determine where to put the lead quality.
6. Content Management System (CMS)
A program to manage feeding content includes editing, indexing, navigating, etc. In addition, it supports users to experience in a collaborative interface where all contents are united and well-maintained.
7. Conversion rate
Percentage of people who take action on the page like clicking links, filling forms, subscribing, signing for newsletters, buying from the online shop or browsing from page to page.
8. Customer Relationship Management (CRM)
Software that supports establishing marketing and sale strategies. It can store information like emails, contact, promotions, deals and more. The program helps rapport with customers for more benefits.
9. Cost per lead (CPL)
The cost that marketing pays to acquire leads. So this metric play a vital role in the financial plan. Further, it also affects the Customer Acquisition Cost (CAC).
10. Customer Acquisition Cost (CAC)
Expenses calculated for each customer. For more details, the metric determines a company’s profitability by looking at the money that spent and gained.
Moreover, you can divide the total costs spent to acquire customers by the number of customers obtained. For example, if you spent $100 on marketing for that year and acquired 100 customers. Then, the CAC is $1.
Specific profiles of people in your target market regarding gender, age, income, social class, and so on. Therefore, this is your focal points in building strategies for marketing.
12. Business-to-business (B2B)
B2B is a trade between a business and another one. For details, one company that markets and sells physical or digital products to another company is called B2B.
13. Business-to-consumer (B2C)
Business sold by a company to ordinary consumers. Apple is an example. They are able to deliver iPhones directly to buyers that come to the store without having to browse any level of distributors.
14. Click Through Rate (CTR)
The number of users that access to your website or marketing campaigns. The actually “clicks” you gain on the page or the campaign divides by the total number of action people take is the Click Through Rate.
15. A/B Testing
The test conducted to compare two versions of a web page to see which gives a higher conversion rate. The test can perform on email subject line or landing page.
Hope these brief definitions of 15 Ecommerce report terms in the industry has helped you to interpret a report more efficiently.
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