Dictionary Archive - Page 8 of 15

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EBITDA is short for Earnings Before Interest, Taxes, Depreciation, and Amortisation. It is a common financial metric in eCommerce used to evaluate a company’s financial performance.

EBITDA measures a company’s operating profitability, as it reflects the earnings before certain expenses like interest, taxes, depreciation, and amortisation are deducted. By calculating EBITDA, eCommerce businesses can get a clearer picture of their financial health and get a more strategic approach to decision-making about investments, acquisitions, and other business activities. It is a useful metric for eCommerce companies since it allows for easier comparisons between companies with different capital structures, tax liabilities, and other factors that can affect net income.

Automation is adapting machines, and such, into a process to make it operate automatically without the need for manual work. Its biggest benefit is the saving of a lot of money and time.

Automation in eCommerce means streamlining and automating repetitive tasks like inventory management, order processing, shipping, messaging and customer service. By automating such tasks, eCommerce businesses can save money and time which can be used for improving other important aspects of the business, all the while enhancing customer experience.

Augm ented Reality (AR) is the combination of a real-world setting with computer-generated content. It sets off multiple senses including visual, auditory, tactile, olfactory and even gustatory. It’s used for various purposes like entertainment, education, health and retail.

As for eCommerce, it can enhance the shopping experience and increase customer engagement highly. Virtual try-ons and product displays are examples of how AR can be implemented in an eCommerce website, which allows visitors to see how a clothing piece will or a beauty product will look on them or whether a piece of furniture will match their room.

Predictive segmentation is a technique used to cluster customers based on the probability of them taking specific actions. It uses data analytics and machine learning techniques to identify and group customers based on their predicted behaviour or characteristics.

Predictive segmentation analyses customer data, predicts future actions, and enables businesses to create highly targeted and personalised marketing campaigns. This allows businesses to create highly targeted and personalised marketing campaigns for each segment, increasing the likelihood of conversion and improving customer engagement.

Predictive segmentation can also help businesses identify new market opportunities and develop more effective product or service offerings.

Product detail page is a web page that displays detailed information about the product viewed on an eCommerce site. It is the page that a customer lands on when they click on a product listing in an online store.

PDP typically includes product images, descriptions, pricing information, availability, customer reviews, and other relevant details. It is an important element of an eCommerce website, as it can help customers make informed purchasing decisions and can impact the overall user experience.

A well-designed PDP can also improve search engine rankings and increase conversions. Online retailers often optimise their PDPs by using high-quality images, writing detailed descriptions, highlighting key features, and providing social proof through customer reviews and ratings.

PPC or Pay-per-Click is a payment model where advertisers pay only when their ad is clicked. It is a way to purchase website visits instead of relying on organic traffic.

PPC requires keyword bidding and ad customisation for target audiences based on factors like location and interests. Whenever a user performs a search related to the targeted keywords, the ad appears at the top or bottom of the search results page. The advertiser incurs a cost only when the user clicks on the ad.

PPC is a highly effective way to drive targeted traffic to a website since it enables businesses to reach potential customers precisely when they are searching for a product or service. It can be instrumental in lead generation, sales growth, and enhancing brand awareness.

Segmen tation is creating customer clusters based on shared traits, such as behaviour and consumption patterns. This helps businesses to better understand and target their customers with more personalised marketing messages, products, and services.

Segmentation can be based on a wide range of criteria, such as demographics (age, gender, income), psychographics (lifestyle, values, personality), and behaviour (purchase history, website activity). By segmenting their target audience, businesses can tailor their marketing efforts to meet the specific needs and preferences of each group, resulting in higher engagement, conversion rates, and customer loyalty.