Sales & Marketing Definitions for Retailers

Descripción

A deck with explanations of some sales and marketing terms for retailers.
Lisa Holmes
Fichas por Lisa Holmes, actualizado hace más de 1 año
Lisa Holmes
Creado por Lisa Holmes hace casi 6 años
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Market segmentation The process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics.
Purchase funnel Awareness – customer is aware of the existence of a product or service Interest – actively expressing an interest in a product Desire – aspiring to a particular brand or product Action – taking the next step towards purchasing the chosen product
Sales Promotions They are short term incentives or action communications to encourage sales / product purchase. Limited time and space, offer better value for money, and attempt to provoke an immediate behavioural effect.
Upselling offering a pricier version of the item
Cross Selling Recommending a product relevant to the one that’s already in their basket
SEM Search engine marketing (SEM) is a form of Internet marketing that involves the promotion of websites by increasing their visibility in search engine results pages (SERPs) primarily through paid advertising
CTR Click Through Rate % of times an ad has been clicked on in terms of ad views
CPA Cost Per Acquisition The average cost of acquiring a new customer. Calculated by dividing campaign spend by the number of new customers
Open Rate % of recipients that open your email newsletter. Calculated as number of opens in terms of mails sent
Influencer Marketing Identifying individuals that have influence over potential customers, and orients marketing activities around these influencers
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