Business-to-Business-to-Business (B2B2B), a business model where businesses sell products or services to other businesses that then sell them to additional businesses. Crucial for understanding multi-tiered business relationships and strategies.
Business-to-Business (B2B), a business model where products or services are sold from one business to another. Crucial for understanding business markets and developing inter-business strategies.
The use of data and insights to understand and manage relationships with customers and prospects. Crucial for enhancing customer engagement and building stronger relationships.
Business-to-Business-to-Consumer (B2B2C), a business model where businesses sell products or services to other businesses that then sell them to consumers. Important for understanding complex value chains and partnership strategies.
Customer Relationship Management (CRM) is a strategy for managing an organization's relationships and interactions with current and potential customers. Essential for improving business relationships and driving sales growth.
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship. Crucial for informing customer acquisition strategies, retention efforts, and overall business planning by providing insights into long-term customer profitability.
The practice of being open and honest about operations, decisions, and business practices, fostering trust and accountability. Essential for building trust with users and stakeholders and ensuring ethical business practices.
The use of social media platforms to connect with prospects, build relationships, and ultimately drive sales. Important for leveraging social media to enhance sales strategies.
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.
A behavior in which an individual provides a benefit to another with the expectation that the favor will be returned in the future, fostering mutual cooperation and long-term relationships. Important for building trust, cooperation, and mutually beneficial relationships in various social and professional contexts.
The likelihood that a customer will continue to buy from a particular company or brand over time. Crucial for maintaining a stable customer base and ensuring long-term business success.
The process of developing relationships with prospects through targeted communications and marketing efforts. Crucial for guiding prospects through the sales funnel and increasing conversion rates.
Entity Relationship Diagram (ERD) is a visual representation of the relationships between entities in a database. Essential for designing and understanding the data structure and relationships within digital products.
The loss of customers over a specific period, also known as customer churn. Important for understanding and addressing customer retention issues.
Business-to-Government (B2G), a business model where products or services are sold to governments. Important for understanding and navigating public sector markets.
A metric that shows the revenue that a company can expect to receive annually from its customers for subscriptions or services. Essential for understanding business performance and growth potential.
A psychological principle where people are more likely to be influenced by those they like. Important for understanding social influences and improving user engagement and marketing strategies.
CSM (Customer Success Management) is a business methodology focused on ensuring customers achieve their desired outcomes while using a product or service. Crucial for driving customer retention and satisfaction.
A strategic planning technique that uses visual maps to align activities with business goals and user needs. Essential for ensuring that development efforts are aligned with strategic objectives.
The tendency of consumers to continuously purchase the same brand's products over time. Essential for driving repeat business and ensuring long-term brand success.
Situation-Complication-Resolution (SCR) is a communication and problem-solving framework used to structure information clearly and logically. Crucial for effectively conveying complex ideas and solutions in business and design contexts.
The percentage of customers who stop using a product or service during a specific time period. Essential for understanding customer retention and identifying areas for improvement.
A visual representation of the stages a sales opportunity goes through, helping to track progress and forecast revenue. Important for managing sales processes and predicting future sales.
A brand that is part of a larger brand family, often having its own distinct identity while being related to the parent brand. Important for diversifying a brand's market presence and reaching new customer segments.
A visual tool used to map out the components and features of a product, showing how they relate to each other and to the overall product vision. Useful for visualizing and planning product development, ensuring all elements are aligned with the product vision.
Know Your Customer (KYC) is a process used by businesses to verify the identity of their clients and assess potential risks of illegal intentions for the business relationship. Essential for preventing fraud, money laundering, and terrorist financing, particularly in financial services, while also ensuring compliance with regulatory requirements and building trust with customers.
A social norm of responding to a positive action with another positive action, fostering mutual benefit and cooperation. Important for designing user experiences and systems that encourage positive reciprocal interactions.
The rate at which customers stop using a product or service, often used as a metric to measure customer retention. Crucial for understanding customer behavior and improving retention strategies.
Customer Experience Management (CEM) is the process of managing and improving the interactions and experiences customers have with a brand across all touchpoints. This process is essential for building strong customer relationships and enhancing brand loyalty.
A market in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. Important for developing targeted digital products that cater to the unique requirements of specific industries or sectors.
The stages a customer goes through from awareness to purchase and post-purchase activities. Important for designing strategies that optimize customer acquisition, retention, and satisfaction.
Recency, Frequency, Monetary (RFM) analysis is a marketing technique used to evaluate and segment customers based on their purchasing behavior. Essential for targeting high-value customers and optimizing marketing strategies.
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
A potential customer who has shown interest in a product or service but has not yet made a purchase. Essential for identifying and targeting potential new customers.
Below the Line (BTL) refers to marketing activities targeting specific consumer groups through direct channels. Essential for personalized marketing and building deeper customer relationships.
A seamless and integrated customer experience across multiple channels, such as online, mobile, and in-store. Crucial for providing a consistent and cohesive user experience, enhancing customer satisfaction and loyalty in digital products.
A dark pattern where a free trial ends and the user is automatically charged without warning. Designers should avoid this practice and ensure users are clearly informed about charges to maintain ethical standards.
Often referred to as "marketing funnel", a model that represents the user journey from awareness to purchase used to analyze and optimize conversion of prospects to customers. Essential for understanding and improving the customer journey and conversion process.
The process of exceeding customer expectations to create a positive emotional reaction. Important for building customer loyalty and enhancing brand reputation.
A comprehensive view of a customer that includes data from all interactions and touchpoints across the customer journey. Crucial for delivering personalized experiences and improving customer satisfaction.
Customer Experience (CX) is the overall perception and feeling a customer has when interacting with a company, its products, or services. Crucial for ensuring positive interactions with a company, driving loyalty and satisfaction.
The value a brand adds to a product or service beyond the functional benefits, encompassing factors like brand awareness, perceived quality, and customer loyalty. Crucial for understanding the long-term value of a brand and its impact on business success.
The use of software to automate repetitive marketing tasks and workflows, improving efficiency and effectiveness. Essential for streamlining marketing processes and increasing productivity.
The process of tracking and managing potential customers from initial contact through to sale. Important for ensuring that leads are properly engaged and converted.
A squeeze page is a type of landing page designed to capture a visitor's email address or other contact information. Highly effective for building an email list by offering a valuable incentive in exchange for the user's details.
Software as a Service (SaaS) is a software distribution model where applications are hosted by a service provider and accessed over the Internet. Crucial for enabling scalable and cost-effective software solutions for users.
A pricing strategy where a core product is sold at a low price, but complementary products are sold at higher prices. Useful for designing pricing strategies that maximize revenue from complementary products.
The process of addressing and overcoming objections or concerns raised by prospects during the sales process. Important for closing sales and building customer trust.
A marketing strategy that leverages satisfied customers to promote products through word-of-mouth and personal endorsements. Important for product managers and marketers to enhance brand loyalty and customer engagement.
A dark pattern where the cancellation process is intentionally complicated to discourage users from canceling. Designers must avoid complicating cancellations and respect user decisions with a straightforward process.
A holistic approach to analysis that focuses on the way that a system's constituent parts interrelate and how systems work over time and within the context of larger systems. Essential for solving complex problems and designing systems that account for interdependencies and dynamics.
The process of systematically collecting, analyzing, and acting on feedback from users to improve products and services. Essential for ensuring that user insights are effectively integrated into the development process.
The ability to recognize, understand, and manage one's own emotions and the emotions of others. Essential for designing empathetic user experiences and effective team collaboration.
A research method that focuses on collecting and analyzing numerical data to identify patterns, relationships, and trends, often using surveys or experiments. Essential for making data-driven decisions and validating hypotheses with statistical evidence.
Customer Advisory Board (CAB) is a group of key customers who provide feedback and insights to a company to help guide its strategic decisions. This group is crucial for aligning products and services with customer needs and expectations.
The perception of a brand in the minds of consumers, shaped by interactions and experiences with the brand. Crucial for understanding consumer perceptions and guiding brand strategy.
Moment of Truth (MoT) refers to any instance where a customer interacts with a brand, product, or service in a way that leaves a significant impression. Crucial for identifying key touchpoints in the customer journey and optimizing them to enhance overall user experience and brand perception.
Middle of Funnel (MoFu) is the stage in the sales funnel where leads are being nurtured and evaluated before becoming sales-ready. Crucial for converting leads into prospects and moving them closer to purchase.
A visual tool for organizing information, typically starting with a central concept and branching out to related ideas and details. Essential for brainstorming, planning, and organizing complex information.
A marketing concept that describes brands that inspire loyalty beyond reason, creating an emotional connection with consumers. Crucial for building strong brand loyalty and emotional engagement.