Join Lauren and Erica as they break down these buzzwords in a fun game of Heads Up! made famous by one of our favorite customers, Ellen Degeneres, this game uses a charades-esque guessing technique and dynamic teamwork to make remembering things a little more fun. Comment with some of your favorite buzzwords or suggestions on which terms you'd like to see us break down next.
Here are the marketing buzzwords from this episode:
Referral Source - A referral source is the way that a customer found out about your products or services. Common referral sources include Google searches and social media ads like on Facebook or Instagram.
Cookie - Cookies are text strings that are used to track a user’s browsing activity. They're also used to store form information such as billing and shipping information. Watch our video Cookies & Audience Targeting | How Does This Sh!t Work for an in depth look at cookies and how they work within Privy.
CLV - Customer lifetime value refers to the dollar value of each customer relationship. In other words, some customers spend more and therefore have more worth to a business than others. CLV is a calculation businesses used to determine the cost of acquiring new customers.
Customer Journey - The customer journey is referenced when your consumer’s path to purchase is longer than you think and involves multiple touchpoints across different channels and devices. You analyze the customer journey and redesign this experience for your customer keeping in mind the ideal user experience.
ROI - Return on investment is how much money you've made from an investment. This is often referenced when deciding what to send time and money on within an organization.
SEO - Search engine optimization is the practice of increasing the quantity and quality of traffic to your website through organic search engine results.
B2B - This term and "B2C" are used to categorize businesses based on who they are selling their products to. B2B meaning business-to-business transactions for products, services or information and B2C meaning business-to-customer.
CTA - Call to action is the next step a marketer wants its audience or reader to take. When you use Privy, often times your CTA for your site visitors is to subscribe to your email list via a pop up.
Dropshipping - Moving products from the manufacturer directly to the retailer without going through the usual distribution channels is called dropshipping.
Bounce Rate - The percentage of people that visit only one page on a website and exit the site without clicking on anything or going to another page. The goal for any site is for the bounce rate to be as low as possible in order to prevent a negative effect on your search engine rankings.
Abandoned Cart - When someone is shopping at an online store, puts items in their cart, but leaves the site before following through with the purchase. Save abandoned carts with Privy! Learn more by watching this video on what a cart saver is or read this blog post on how to use pop ups and abandoned cart emails to save carts and drive sales.
CRO - Conversion rate optimization is a system for increasing the percentage of visitors to a website that convert into customers, or more generally, take any desired action on a webpage. Watch this presentation where our CEO Ben Jabbawy talks about crushing 2% conversion rates, not by focusing on conversion, but by focusing on the customer.