Glossary

Brand activation:

is an event, campaign, or any interaction through which a company drives customer actions. This technique aims to generate brand awareness, build lasting relationships with the target audience, and develop customer loyalty.

Benchmark:

a process in which a company compares its products and methods with those of the most successful companies in its field, in order to try to improve its own performance.

Unified commerce:

is the practice of connecting your backend systems with your customer-facing channels via a single platform. It’s the setup companies require in order to support omnichannel journeys and create a unified view of shopper interactions, products, and management systems.

E-commerce

is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business.

Live Streaming

Live streaming is a type of streaming in which audio or video is broadcast live over the Internet. The media is transmitted while it is recorded, allowing viewers to watch or listen to it in real-time.

New Retail

describes the blending of online and offline commerce through the digitization of the entire retail value chain for the benefit of both the merchant and the consumer and, of course, the company enabling this transformation.

One-to-one

is a strategy that emphasizes having an individualized experience with customers. The personalization of interactions is thought to improve customer loyalty and have a high return on marketing investment.

One-to-many

means most of a brand’s prospects and customers will have the same experience and receive similar messaging and offers. This is typically the sign of a brand that manages customer relationships and marketing from an inside-out perspective

Shopper marketing

is “a discipline that focuses on the customer experience and the customer journey.” It focuses on the consumer’s path to purchasing a product, from first being aware of the product, to consideration and through to the purchase of it. It separates itself from retail marketing which focuses on engaging the customer in-store only.

Business action plan

is an internal business document that lists the actions you must take within a certain timeline, while running your business, to achieve a goal. It sets out what resources are required to reach the goal, create a timeline of what specific tasks need to be completed and determine what resources are required to reach that businesses goal.

Conversion rate

is the ratio between two currencies, most commonly used in foreign exchange markets, which designates how much of one currency is needed to exchange for the equivalent value of another currency.