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Bundling is a marketing strategy that businesses use to sell products and services as a package deal. Bundling is used to increase the perceived value of the offer and to encourage customers to make multiple purchases. Bundling can be an effective way for businesses to optimise customer experience, improve customer loyalty and increase sales volume. Bundling can also help businesses streamline operations by promoting specific product combinations and reducing inventory costs. It is often used in combination with other marketing tactics such as upselling and cross-selling to increase revenue and customer retention.
Bounce rate is a metric that shows the percentage of visitors that leave a website after viewing one page without interacting with the website further and performing any action. A high bounce rate can indicate that visitors are not finding what they are looking for on the website or that the website’s content, design, or usability is not engaging enough to keep them on the website. A low bounce rate, on the other hand, can indicate that the website is engaging enough and providing a good user experience. Bounce rate is an essential metric for businesses to identify areas for improvement in website design, content, and user experience, and ultimately, increase engagement and conversions.
Bottom of the Funnel (BoFu) is the final stage of the sales funnel, potential customers are close to making a purchase decision. BoFu marketing tactics focus on converting leads into paying customers and include strategies such as retargeting ads, personalised email campaigns, product demos, free trials, and other promotional offers. BoFu marketing involves direct and targeted messaging that is tailored to a specific customer’s needs and interests. Businesses often use BoFu marketing tactics to close deals and retain customers, as well as upsell or cross-sell additional products or services. BoFu marketing plays a crucial role in increasing customer lifetime value and maximising revenue, making it essential for any comprehensive marketing strategy.
Black Friday is considered one of the biggest shopping events and the beginning of the holiday shopping season. It is characterised with big dicounts and promotions by retailers both online and physical stores. It falls on the following Friday after Thanksgiving in the USA. Although originated in the USA, the event has become increasingly popular worldwide, with businesses in various countries offering Black Friday deals to attract customers and boost sales.
Behavioural analytics is a data analysis approach that involves collecting and analysing data on how visitors interact with websites, mobile apps, or social platforms. Its aim is to analyse and understand people’s actions and behaviours and gain insight into their needs and preferences. Behavioural analytics can help businesses identify patterns in user behaviour and track customer journeys. That way, businesses can identify opportunities to improve user engagement, optimise the user experience, and increase conversions. Behavioural analytics can also help businesses measure the success of their current marketing strategies and make better, data-driven, business decisions in the future.
Business-to-customer is a business model where businesses sell goods or products to individual consumers. These sales can occur through online and offline channels, such as eCommerce websites, brick-and-mortar stores, and mobile apps. Businesses with this model aim to promote their products to a wide range of audience through online and offline channels with targeted ads. B2C businesses often prioritise creating a positive customer experience and building brand loyalty to encourage repeat purchases and increase customer lifetime value.
Business-to-business (B2B) is a business model where businesses sell goods or services to other businesses. These are used by another business to operate or produce goods and services for consumers. B2B transactions can occur between manufacturers and wholesalers, wholesalers and retailers, or between service providers and their clients. B2B marketing often involves targeting specific industries, providing tailored solutions to meet their specific needs, and building long-term relationships based on mutual benefit. B2B transactions often involve higher purchase volumes, longer sales cycles, and more complex decision-making processes than B2C transactions.