CES
Customer Effort Score (CES) is a metric that measures how much effort customers have to put in to interact with a product or service. Crucial for identifying friction points and improving user experience in digital products.
77 topics found for:
“customer effort”
Warm Lead
A potential customer who has shown interest in a product or service and is more likely to become a customer. Crucial for prioritizing sales efforts and increasing conversion rates.
RFM
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.
Customer Life Cycle
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.
LTV
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.
NPS
Net Promoter Score (NPS) is a metric used to measure customer loyalty and satisfaction based on their likelihood to recommend a product or service to others. Crucial for gauging overall customer sentiment and predicting business growth through customer advocacy.
CAC
Customer Acquisition Cost (CAC) is the total cost associated with acquiring a new customer, including marketing and sales expenses. Essential for evaluating the efficiency and effectiveness of marketing strategies.
Advocacy Marketing
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.
KYC
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.
Multichannel Marketing
A marketing strategy that uses multiple channels to reach and engage customers, such as email, social media, and websites. Crucial for maximizing customer reach and engagement by leveraging diverse communication platforms in digital products.
Customer Delight
The process of exceeding customer expectations to create a positive emotional reaction. Important for building customer loyalty and enhancing brand reputation.
Customer Segmentation
The practice of dividing a customer base into distinct groups based on common characteristics. Crucial for targeting marketing efforts and personalizing customer interactions.
Working Backwards
A product development approach where teams start with the desired customer experience and work backwards to determine what needs to be built to achieve that outcome. Essential for ensuring that product development is aligned with customer needs and expectations.
Sales Funnel
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.
Lead Management
The process of tracking and managing potential customers from initial contact through to sale. Important for ensuring that leads are properly engaged and converted.
Buyer Persona
A semi-fictional representation of an ideal customer based on market research and real data about existing customers. Essential for targeting design and marketing efforts to meet the needs and preferences of specific user groups.
MQL
Marketing Qualified Lead (MQL) is a prospective customer who has shown interest in a company's product or service and meets specific criteria indicating a higher likelihood of becoming a customer. Essential for prioritizing leads and optimizing the efficiency of sales and marketing efforts by focusing resources on prospects most likely to convert.
Opportunity Scoring
A technique used to prioritize product features based on the potential impact on customer satisfaction and business goals. Essential for aligning product development efforts with user needs and business objectives.
Labor Illusion
A phenomenon where users perceive greater value in a service or product if they believe more effort was involved in its creation or delivery. Important for enhancing perceived value and user satisfaction.
Lead Qualification
The process of evaluating and categorizing potential customers based on their likelihood to purchase. Essential for prioritizing sales efforts and improving conversion rates.
Lead Nurturing
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.
Stream-Aligned Team
A team structure focused on delivering value streams, often organized around a specific business capability or customer need. Crucial for enhancing delivery efficiency and aligning with business goals.
Last Touch
The final interaction a customer has with a brand before making a purchase. Important for understanding which touchpoints drive conversions.
BTL
Below the Line (BTL) refers to marketing activities targeting specific consumer groups through direct channels. Essential for personalized marketing and building deeper customer relationships.
Brand Discovery
The process by which consumers become aware of and learn about a brand. Important for establishing initial brand awareness and attracting potential customers.
Market Segmentation
The process of dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics, needs, or behaviors. Important for tailoring marketing strategies and product offerings to specific customer groups.
Lead Scoring
The process of ranking leads based on their perceived value to the organization. Useful for prioritizing sales efforts and improving conversion rates.
Lead Generation
The process of attracting and converting strangers and prospects into someone who has indicated interest in your company's product or service. Essential for building a sales pipeline and driving business growth.
Product Team
A cross-functional team focused on solving customer problems and achieving business outcomes, with a strong emphasis on discovery, experimentation, and continuous improvement. Crucial for creating valuable and innovative products that meet user needs and drive business success through iterative development and close collaboration with stakeholders.
Lead Conversion
The process of turning a lead into a customer. Important for driving business growth and measuring marketing effectiveness.
Funnel Metrics
Measurements that track the effectiveness of each stage of the funnel, such as conversion rates and drop-off points. Crucial for identifying areas of improvement in the customer journey.
BoFu
Bottom of Funnel (BoFu) refers to the stage in the sales funnel where prospects are close to making a purchase decision. Important for tailoring marketing and sales efforts to convert leads into customers.
ToFu
Top of Funnel (ToFu) is the initial stage in the sales funnel where potential customers become aware of a product or service. Crucial for generating leads and building brand awareness.
Target Audience
A specific group of people identified as the intended recipient of an advertisement or message. Essential for tailoring marketing efforts and achieving effective communication.
MRD
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product. It serves as a crucial tool for aligning product development efforts with market demands and business goals, ensuring that the final product meets customer needs and achieves market success.
Brand Awareness
The extent to which consumers are familiar with a brand and can recognize it. Crucial for establishing a strong market presence and driving customer acquisition.
Retention Rate
The percentage of users who continue to use a product or service over a specified period, indicating user loyalty and engagement. Essential for assessing the effectiveness of user retention strategies and improving user experience.
Product Adoption Rate
The speed at which users start using a new product, typically measured as a percentage of the target market over a specific period. Essential for evaluating the success of a product launch and planning subsequent strategies.
Engagement Score
A metric used to rank leads based on their engagement with a brand, indicating their readiness to purchase. Crucial for prioritizing leads and improving sales efficiency.
NPD
New Product Development (NPD) is the complete process of bringing a new product to market, from idea generation to commercialization. Essential for companies to innovate, stay competitive, and meet evolving customer needs through a structured approach to creating and launching new offerings.
Product vs. Program
Products are individual items or services designed to meet specific customer needs, while programs are collections of related projects and products managed together to achieve broader strategic goals. Essential for understanding the different scopes and objectives involved, helping to manage and align efforts effectively within an organization.
Lead Conversion Rate
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
IKEA Effect
The tendency for people to value products more highly if they have put effort into assembling them. Important for understanding user satisfaction and product attachment.
Niche Market
A small, specialized market segment focused on a particular product or service, often characterized by a unique demand. Essential for targeting specific customer needs and achieving higher margins with less competition.
Choice-Supportive Bias
The tendency to attribute positive qualities to one's own choices and downplay the negatives, enhancing post-decision satisfaction. Useful for understanding user satisfaction and designing experiences that reinforce positive decision outcomes.
Brand Exposure
The extent to which a brand is seen or experienced by potential customers through various media channels. Crucial for increasing brand awareness and reaching new audiences.
MRR
Monthly Recurring Revenue (MRR) is a metric that quantifies the predictable revenue generated each month from customers. This metric is crucial for SaaS companies to track financial health and growth.
Marketing Automation
The use of software to automate repetitive marketing tasks and workflows, improving efficiency and effectiveness. Essential for streamlining marketing processes and increasing productivity.
SAM
Serviceable Addressable Market (SAM) is the portion of the Total Addressable Market that a company can target with its products and services. Essential for focusing marketing and sales efforts on reachable segments.
FDD
Feature Driven Development (FDD) is an agile methodology focused on designing and building features based on client-valued functionality. Essential for delivering client-valued features efficiently and effectively.
Continuous Improvement
An ongoing effort to improve products, services, or processes over time through incremental and breakthrough improvements. Crucial for fostering a culture of constant enhancement and adaptation.
Contextual Marketing
A marketing strategy that delivers targeted advertising and content based on the context of the user, such as their behavior or environment. Crucial for improving user engagement and relevance of marketing efforts in digital products.
MVP
Minimum Viable Product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. Essential for validating product ideas quickly and cost-effectively, allowing teams to learn about customer needs without fully developing the product.
ATL
Above the Line (ATL) refers to marketing activities carried out at a macro level to reach a large audience through mass media such as TV, radio, and print ads. Essential for building brand awareness and reaching a wide audience.
4 P’S Marketing Mix
The four key elements of marketing: Product, Price, Place, and Promotion, used to develop marketing strategies. Important for creating comprehensive marketing strategies that effectively promote digital products.
Social Proof
A psychological phenomenon where people follow the actions of others in an attempt to reflect correct behavior for a given situation. Essential for designing interfaces and experiences that leverage social influence to guide user behavior and increase trust and engagement.
KPI
Key Performance Indicators (KPIs) are quantifiable measures used to evaluate the success of an organization, employee, or project in meeting objectives for performance. Essential for tracking progress, making informed decisions, and aligning efforts with strategic goals across various business functions, including product design and development.
Go-to-Market (GTM)
A strategy or plan that outlines how a company will launch a product to market, including target audience, marketing tactics, and sales strategy. Essential for successfully launching products and capturing market share.
Good Defaults
Pre-selected options in a user interface that are chosen to benefit the majority of users. Essential for simplifying decision-making and improving user experience by reducing the need for customization.
Open Rate
The percentage of email recipients who open a given email. Important for measuring the effectiveness of email marketing campaigns.