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33 Cards in this Set
- Front
- Back
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Customer relationship management (CRM) |
A systematic tracking of consumers preferences and behaviors over time to tailor the value proposition as closely as possible to each individual‘s unique wants and needs. |
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mar-tech |
Short for marketing technology, this term is Commonly used to denote the fusion of marketing and technology. A particular focus is placed on the application of marketing through digital technologies. |
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One-to-one marketing |
Facilitated by CRM, one-to-one marketing allows for customization of some aspect of the goods or services that are offered to each customer. |
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Touchpoint |
Any point of direct interface between customers and a company. (Online, by phone, or in person) |
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Marketing automation |
A group of systems and technologies that can be used to establish a set of rules for handling different marketing related processes in an automated fashion. |
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Share of customer |
The percentage of an individual customers purchase of a product that is a single brand |
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Big data |
A popular term to describe the exponential growth of data, both structured and unstructured, in massive amounts that are hard or impossible to a process using traditional database techniques. |
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Internet of things |
Describes a system in which every day objects are connected to the Internet and intern are able to communicate information throughout an interconnected system. |
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Web scraping |
The process of using computer software to extract large amounts of data from websites. |
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Sentiment analysis |
The process of identifying a followers attitude toward a product or brand by assessing the context or emotion of his or her comments |
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Scanner data |
Data derived from items that are scan of the cash register when you check out with your loyalty card. |
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Channel partner model |
A relationship between channel partners in which a two-way exchange of information between purchasing organizations and their respective vendors is facilitated through shared or integrated IT systems |
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Information overload |
A state in which the marketer is buried in so much data that it becomes nearly paralyzing to decide which of the data provide Useful information and which do not. |
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Data mining |
Sophisticated analysis techniques to take advantage of the massive amount of transaction information now available. |
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Data warehouse |
A system to store and process the data that result from data mining. |
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Structured data |
Data that (1) are typically numeric or categorical; (2)can be organized and formatted in a way that is easy for computers to read, organize, and understand; and (3) can be inserted into a database in a seamless fashion. |
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Unstructured data |
Non-numeric information that is typically formatted in a way that is meant for human eyes and not easily understood by computers. |
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Emotion analysis |
A sophisticated process for identifying and categorizing the motions a follower possesses in relation to a product or brand by assessing the context of that communication. |
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Data scientist |
An individual who searches through multiple, disparate data sources to discover hidden insights that will provide a competitive advantage. |
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Marketing analytics |
A group of technologies and processes that enable markers to collect, measure, analyze, and assess the effectiveness of marketing efforts. |
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Digital marketing channels |
The past of distribution through which accompanies digital marketing communications can be delivered to reach their respective audiences. |
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A/B test |
A method for testing The effectiveness of altering one is characteristic of a marketing asset. The test is conducted by randomly exposing some users to the original version and the others to an altered version. The behavior of users within each group is recorded and the results are used to determine if the altered version performs better on some measure of interest. |
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Cost-per-click |
An online ad purchase in which the cost of the advertisement is charged only Each time an individual clicks on the advertisement and is directed to the webpage that the marketer placed within the advertisement. |
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Cost-per-impression |
An online ad purchase in which the cost of the advertisement is charged each time the advertisement shows up on a page that the user views. |
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Search engine optimization (SEO) |
A systematic process to ensure that your firm comes up at or near the top of list of typical search phrases related to your business. |
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Landing page |
A single page on the website that is built for particular direct marketing opportunity. |
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Predictive analytics |
Uses large quantities of data within variables that have identified relationships to more accurately predict specific future outcomes. |
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Churn right |
The percentage of a company’s customers who buy the end of that time span can no longer be considered customers of the company. |
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Marketing metrics |
Specific measures that help marketers watch the performance of their marketing campaigns, initiatives, and channels, and when appropriate, serve as a control mechanism. |
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Click-through |
A metric that indicates the percentage of website users who have decided to click on an advertisement to visit the website or the webpage associated with it. |
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Conversion |
Signifies an event that occurs on a web page that indicates the meeting of a predefined goal associated with the consumer’s interaction with that page. |
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Cost-per-order |
The cost of gaining an order in terms of the marketing investment made to turn a website visitor into a customer who has chosen to make a transaction. |
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Margin on sales |
The difference between the price at which the product is sold and the cost of the product. |
