For several years now, e-commerce has experienced rapid growth. Accentuated since 2020 by the health crisis, businesses have understood the need to have a commercial presence on the Internet. Internet users too have become accustomed to making their purchases on the web.
Faced with these different developments, it is therefore important to know some key concepts to feel comfortable with the terms related to online sales and digital.
In this article, we present the top 15 marketing definitions you need to know!
The top 15 marketing definitions
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 the site visitors to determine which version has the most business impact.
Acquisition marketing promotes products to a new audience and aims to acquire new customers. It is therefore a key element of marketing in e-commerce. The goal is to create strategies to target consumers who are researching or considering purchasing a product.
A buyer persona is a portrait of a person who represents your target audience. This buyer persona is fictional but based on extensive research of your existing or desired audience.
In marketing, we talk about a conversion when a visitor to your website goes from being a visitor to being a prospect or, if he buys a product, to being a customer. A conversion occurs when someone goes from a passive visitor to an active, interested visitor or customer.
Cross-selling or cross-selling refers to the marketing of additional products to existing customers, often practiced in the financial services sector, but the technique is also commonly found in e-commerce.
Customer Lifetime Value
Customer Lifetime Value (CLV) is a method of measuring the average revenue generated by a customer over the lifetime of their relationship with a company. Comparing Customer Lifetime Value to the cost of acquiring a customer is a quick way to estimate a customer’s profitability and the company’s long-term growth potential.
FAQ stands for Frequently Asked Question. Offer an FAQ to your customers on 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 environmental and ecological values and using them as a selling point. Ecological marketing or green marketing is based on the brand image of the company, which must be respectful of the environment, in order to share common values with customers.
Inbound marketing or inbound marketing brings together the techniques of helping potential customers find your business. Early contact can turn into brand preference and lead to conversion. Inbound marketing uses for example content marketing, blogging, organizing events, search engine optimization (SEO), social media, etc. While outbound marketing seeks customers, inbound marketing focuses on visibility, so potential buyers come to you.
KPI stands for Key Performance Indicator. A key performance indicator is a measurable value that demonstrates 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 stand-alone webpage, created specifically for a marketing or advertising campaign. It is where a visitor lands after clicking on a link in an email, or on ads from Google, Bing, YouTube, Facebook, Instagram, Twitter.
A persona is a fictional character that you create based on your research to represent the different types of users who might be interested in your service, product, site, or brand. Creating a persona helps to understand the needs, behaviors and goals of your customers or visitors. Using a persona makes the design task and development processes easier, thanks to the anticipation of the user experience in your target group.
Retargeting is a very common form of digital marketing in which marketers serve advertisements to users who have visited their website, or a specific webpage. This is an effective way to target people who have already shown some interest in your business or brand. Thanks to retargeting, you give yourself a second chance to convert your prospect into a buyer, using advertisements or online marketing campaigns.
SEM, or Search Engine Marketing, is the act of using paid strategies to increase your visibility in searches. 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 for those terms, they see an ad from the brand. The brand is only charged if the user clicks on the ad.
There are actually two interpretations of 4C marketing, which correspond to two strategies. 4C refers first of all to the definition of Lauterborn, of 1990: C for consumer (his desires and his needs), for cost, for convenience (or ease) of purchase and communication. The abbreviation 4 C is also used to designate the qualities of communication in marketing: clarity, credibility, coherence and competitiveness (definition of Jobber in Fahi, in 2009).
The marketing lexicon: an essential resource
To cope with developments related to the Internet and digital marketing, it is important to know the jargon associated with it.
At first glance, knowing the different terms may seem complex, but as you discover them, you will master everything! And lucky for you, some companies make it easy to access this knowledge. This is particularly the case of the French e-commerce solution WiziShop.
Some time ago, it unveiled a complete section within its site dedicated to the lexicon of online sales.
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!