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.
24 topics found for:
“customer segmentation”
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.
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.
Vertical Market
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.
Sub-Brand
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.
Demographic
Statistical data relating to a particular population and groups within it. Crucial for market research and understanding target audiences.
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.
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 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.
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.
UBP
Unique Buying Proposition (UBP) is a statement that highlights the unique benefits and value a product or service offers to customers. Crucial for differentiating a product in the market and attracting customers.
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.
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.
First Mover Advantage
The competitive advantage gained by the initial significant occupant of a market segment, which can lead to brand recognition and customer loyalty. Important for understanding the benefits and risks of being an early entrant in a new market.
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.
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.
Mid-Tier Value
A pricing strategy that offers a middle option with substantial value at a moderate price, often perceived as the best deal by users. Useful for driving sales by presenting a balanced choice that appears more attractive relative to higher and lower-priced options.
MoFu
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.
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.
Brand Positioning
The strategy of placing a brand in the market to occupy a distinct and valued place in the minds of the target audience. Crucial for differentiating a brand and achieving competitive advantage.
Brand Extension
The practice of using an established brand name to introduce new products or services. Essential for leveraging brand equity to expand product lines and enter new markets.
UCD
User-Centered Design (UCD) is an iterative design approach that focuses on understanding users' needs, preferences, and limitations throughout the design process. Crucial for creating products that are intuitive, efficient, and satisfying for the intended users.
MMF
Minimum Marketable Feature (MMF) is the smallest set of functionality that delivers significant value to users and can be marketed effectively. Crucial for prioritizing development efforts and releasing valuable product increments quickly, balancing user needs with business objectives.