No matter if you’re a rookie or expert, keeping track of all the newfangled language in selling online can be a touch confusing! Luckily, RepricerExpress is a bit of a dictionary nerd and has put together this handy-dandy eCommerce glossary that you can hit up any time you need a quick definition check.
Abandonment: Leaving without Completion
Most people associate this term with leaving a full shopping cart before hitting ‘purchase’, but it can refer to any action that hasn’t reached its full completion. Either way, it identifies a point in the process where the buyer hasn’t been sold strongly enough, and changed their mind. Look at where the trends are to shape up your weak spots.
Analytics: Objective Data on Site Activity
Maybe you’re that rare savant who scores a goal from behind the halfway line. If so, skip ahead to the next term. But if you’re like 99.9% of sellers, analytics means taking the data of activity on your site and putting it to good use. It covers everything from how many people visit your site (and different spots on it) to how many of them leave, and provides valuable insight into what you’re doing right and wrong.
Bounce Rate: Hi and Bye
It’s easy to get excited by pageviews — ‘omg, there are all these numbers of REAL PEOPLE who clicked on my site!’ — but if they’ve only clicked on the main page and left without visiting anything else, they’ve ‘bounced’. Obviously, the higher your bounce rate, the less satisfying people find your page enough to stick around and check out more.
Brick-and-Mortar Shop: Shopping Just Like in Ye Olde Days
Close your eyes and think hard to a time when you had to get dressed, head outside, and open a door to deal with real-life shopkeepers and objects you could hold in your hand. That is a brick-and-mortar shop and, while not quite antiquated but facing stiff competition from the online world, it still exists. And you can see one without going to a museum.
B2B: Business-to-Business
The times you deal with other business and modify your content to reflect that, it’s called B2B.
B2C: Business-to-Consumer
And when you deal with the regular public and market your content that way, it qualifies as B2C.
Call-to-Action: Come and Do (insert verb)
You should never, ever write any kind of solicitous content without a call-to-action at the end. It tells the buyer that they should do something, preferably sign up, buy, or start the buying process. Keep it a little casual and light-hearted, but clear in what you want them to do.
Click-Through Rate: From a Link to a Page
Any time you run an ad campaign, you’re going to want to pay special attention to how many people click on a link that takes them somewhere else. Have a high rate, and you know you’re running a strong campaign. But if you see weak spots, whether at certain times of the day or where the link is location, then you know you’ve got more work to do.
Conversion Rate: Rate of Actions Completed
When a visitor successfully completes an action on your site, a little tick gets added to the ‘yes’ column; when they don’t, a tick goes under the ‘no’ column. And your conversion rate reflects the percentage of those yeses against no’s.
Cross-Selling: Sideways Suggestions
When someone visits your site and shows interest in a product, cross-selling is suggesting a similarly-related item in the hopes they’ll pick that up, too.
Drop-Shipping: Straight from the Horse’s Mouth
All this means is delivering an item straight from the manufacturer to the buyer, no middlemen included.
Keywords: Breadcrumbs to Your Products
Most shoppers don’t scroll through categories and endless pages until they find what they’re looking for. They speed things up by typing in words associated with what they want. Having strong keywords tends to leave a clearer breadcrumb trail straight to you, instead of your competitors.
Landing Page: Ground Zero
Think of your landing page as the gateway to all the excitement you have to offer shoppers (in the way of different sections or more information), and you’re solid.
Mobile Commerce: Hallo, Portable Devices
You know more and more buyers are shopping on things like smartphones and tablets, and mobile commerce means shaping your selling to feature nicely on those devices (i.e. responsive web design, for one).
Multichannel: A Hand in More than One Cookie Jar
When you sell through various channels, like online and in person, that’s called multichannel commerce.
Open Rate: Not Just Straight to the Junk Bin
You know when you check your email and automatically mark some of them as going straight to trash? Open rate is the opposite of that, the rate of people who actually open (your) emails.
Pay-per-Click: Only Pay When Your Ad Works
This is a neat concept because it’s so low-risk, high-reward. When you run an ad campaign, using PPC means you pay for each click on your ad if and only if the ad has actually been clicked on.
h2>Search Engine Optimisation: Enticing More Action
SEO encompasses everything from smart keywords to well-written content. Basically, it’s all the search engine-friendly practices you employ to make yourself rank higher.
Traffic: It’s a Good Thing, Really!
At its most basic, traffic is simply how many eyeballs you get to your site (or somewhere within the site).
Upselling: Swing for the Fences
When you’re not content to simply grab one sale but want to squeeze water out of a rock and get the buyer to spend more on a similar, but more expensive, item, that’s upselling.
301: Redirect
In HTTP lingo, a 301 page happens when you redirect people from one URL to another (newer) one.
Oops, we forgot to mention another important word in our eCommerce glossary: RepricerExpress. Think of it as your do-it-all robot that makes life easier for you as a seller. Plus, what other butler comes with a 15-day free trial so you can see just how flawlessly it nestles into your life? Sign up today and make things easier on yourself.
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