Dictionary Archive - Page 3 of 15

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Dropshipping is a form of retail where the store does not keep the products in stock or on display. In this fullfilment method, the seller purchases the products from a third party that directly ships them to customers. That way, the seller doesn’t have to worry about inventory , stock management and shipping process. However, while it allows businesses start selling products with minimal investment, it also minimises the seller’s control over the quality of the products and the shipping process.

Customer retention is the process of engaging with existing customers to maintain their loyalty and reduce the likelihood of churn. It involves building long-term relationships with customers by providing them with a positive experience through effective communication, good customer service, and personalised offerings.

The goal of customer retention is to increase customer lifetime value and generate repeat business. Companies use various strategies to retain customers, such as loyalty programs, special promotions, and personalised marketing campaigns. Effective customer retention can lead to improved brand awareness, increased revenue, and reduced marketing costs.

Personalisation is the process of tailoring a product, service, or communication to the specific needs, preferences, characteristics and behaviour of a customer. It involves using customer data, such as browsing history, purchase history, demographic information, and other behavioural data, to provide personalised product recommendations, targeted promotions, and other relevant content. Personalisation helps to improve customer engagement, loyalty, and overall satisfaction by creating a more relevant and enjoyable shopping experience.

Personalisation offers three key benefits. Firstly, it improves the customer experience by providing personalised product recommendations, promotions, and offers, helping customers navigate through numerous options and reducing decision fatigue. This enhances customer satisfaction and decreases the likelihood of customers leaving a website due to overwhelming choices.

Secondly, personalisation increases sales and conversion rates by enabling customers to easily find what they’re looking for, resulting in a higher likelihood of making a purchase. Personalised homepages tailored to individual browsing and purchasing history contribute to a lower bounce rate.

Lastly, personalisation enhances customer lifetime value by allowing marketers to adapt to changing customer needs at scale. It fosters customer engagement and encourages repeat purchases, leading customers from initial awareness to ongoing action. Overall, personalisation plays a crucial role in customer retention and revenue generation.

Multichannel ma rketing is a marketing strategy that uses multiple channels or platforms to communicate with customers or prospects.

The goal is to create a consistent brand experience across all channels and make it easy for customers to interact with the brand on their preferred platform. The channels used can include email, social media, direct mail, mobile apps, websites, and more. Multichannel marketing allows companies to reach a wider audience and increase their chances of converting prospects into customers.

Voice commerce refers to the use of voice commands and voice-enabled devices, such as smart speakers, to purchase products or services online.

With the increasing popularity of virtual assistants like Amazon’s Alexa, Google Assistant, and Apple’s Siri, voice commerce has become an emerging trend in Commerce. Consumers can now use their voice to search for products, place orders, and make payments, making the buying experience faster and more convenient. As voice commerce technology advances, it is likely to become an even more important aspect of eCommerce in the future.

User engagement refers how users are interacting with a product, service, or brand. It can be measured through various metrics, such as time spent on a website, number of page views, clicks, shares, comments, and more.

User engagement is an important aspect of digital marketing as it indicates how well a brand is able to attract and retain its audience. It is also a key factor in search engine optimisation (SEO) as search engines favor websites that have higher engagement rates. To improve user engagement, brands can offer personalised content, incentives, interactive features, and other tactics that encourage users to interact with their brand.

Transactional emails are automated messages triggered by user actions or behaviours, such as account creation, purchase confirmation, password resets, and order updates. These emails are a critical component of customer communication and engagement for any eCommerce business.

Transactional emails are typically designed to be informative and action-oriented, with the primary goal of providing the recipient with a relevant and useful update or information related to their interaction with the company. The content of these emails may include order details, shipping information, tracking numbers, or other important updates related to the user’s account or purchase.