The strategic promotion, placement, and persuasive presentation of digital products or services within an online platform to maximize sales, engagement, and user satisfaction. Important for optimizing the visibility, appeal, and persuasive impact of digital offerings, enhancing user experience, and driving conversions in online environments.
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 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.
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.
Business-to-Consumer (B2C), a business model where products or services are sold directly to individual consumers. Essential for understanding consumer markets and developing direct marketing strategies.
Conversion Rate Optimization (CRO) is the systematic process of increasing the percentage of website visitors who take a desired action, such as making a purchase or filling out a form. Crucial for improving user engagement and achieving business goals.
A strategic research process that involves evaluating competitors' products, services, and market positions to identify opportunities and threats. Essential for informing product strategy, differentiating offerings, and gaining a competitive advantage in the market.
The tendency for people to defer purchasing decisions to a later time, often leading to procrastination. Important for understanding consumer behavior and optimizing sales strategies.
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
A product or service produced by one company that other companies rebrand to make it appear as if they had made it. Crucial for understanding business strategies that allow for customization and brand differentiation.
Call to Action (CTA) is a prompt that encourages users to take a specific action, such as signing up for a newsletter or making a purchase. Crucial for guiding user behavior and increasing engagement or conversions on digital platforms.
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.
A recommendation system technique that makes predictions about user interests based on preferences from many users. Essential for personalizing user experiences and improving recommendation accuracy.
A system that suggests products, services, or content to users based on their preferences and behavior. Essential for personalizing user experiences and increasing engagement and conversion rates.
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.
A medium through which a product or service is delivered to a customer, including physical and digital channels. Crucial for understanding how products and services reach end users.
A marketing strategy where affiliates earn a commission for driving sales or traffic to a company's website. Crucial for product managers and marketers to expand reach and drive sales through partnerships.
A cognitive bias where people ascribe more value to things merely because they own them. Useful for understanding user attachment and designing persuasive experiences.
The process of turning potential customers into paying customers, often measured by the conversion rate. Essential for understanding and optimizing the customer journey.
Cost Per Action (CPA) is an online advertising pricing model where the advertiser pays for a specified action, such as a sale or registration. This model is crucial for optimizing ad spend and measuring marketing effectiveness.
The percentage of users who start but do not complete a desired action, such as completing a form or purchasing a product. Important for identifying issues in user flows and improving conversion rates.
The tendency for people to believe that others are telling the truth, leading to a general assumption of honesty in communication. Important for understanding communication dynamics and designing systems that account for this bias.
A dark pattern where availability is falsely limited to pressure users into making a purchase. Awareness of this deceptive practice is important to provide honest information about product availability.
A dark pattern where practices are used to make it hard for users to compare prices with other options. It's essential to avoid this tactic and promote fair competition by allowing users to make informed decisions.
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.
A strategic framework that designs user experiences to guide behavior and decisions towards desired outcomes. Crucial for creating effective and ethical influence in digital interfaces.
The process of tailoring a product or experience to meet the individual needs and preferences of users. Essential for enhancing user engagement and satisfaction by delivering relevant experiences.
The psychological discomfort experienced when parting with money, influenced by the payment method and context. Crucial for understanding spending behavior and designing payment systems that mitigate discomfort.
The tendency to overestimate the duration or intensity of the emotional impact of future events. Important for understanding user expectations and satisfaction.
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.
A decision-making rule where individuals choose the option with the highest perceived value based on the first good reason that comes to mind, ignoring other information. Crucial for understanding and designing for quick decision-making processes.
A reading pattern where users focus on individual elements or "spots" of interest on a page, rather than following a linear path. Crucial for designing engaging and attention-grabbing content layouts.