Category: Glossary

What is Customer Churn Prediction? Customer churn prediction is a process of identifying which customers are likely to stop using your product or service before they actually leave. Think of it as an early warning system for your business! 🔍 Key elements include: Analyzing customer behavior Monitoring usage patterns Tracking engagement levels Identifying risk signals…

What is a Qualified Lead? A qualified lead is a potential customer who’s more likely to buy from you based on specific criteria. Think of it like a dating app match that actually fits your preferences! 💫👆 Companies with a structured lead qualification process generate 2x more sales-ready leads than those without one! Types of…

What is Lead Velocity Rate? Lead Velocity Rate (LVR) measures how fast your qualified leads are growing month over month. Think of it like your sales pipeline’s speedometer! 🏎️👆 LVR is considered one of the best predictive metrics for future revenue because it shows growth momentum 3-6 months before it appears in your sales numbers!…

What is Price Benchmarking? Price benchmarking means comparing your prices with competitors to ensure you’re not charging too much or too little.👆 Companies that regularly do price benchmarking are 25% more likely to achieve their profit goals than those who don’t! Why Price Benchmarking Matters It helps you: Set competitive prices Understand market position Make…

What is Net Promoter Score (NPS)? The Net Promoter Score (NPS) is a key metric that measures customer loyalty and satisfaction. It’s based on one simple question: “How likely are you to recommend us to a friend or colleague?“👆 Before NPS was created in 2003, companies used complex 100-question surveys to measure customer satisfaction. Fred…

What is a Go-To-Market (GTM) Strategy? A go-to-market strategy is your plan for launching a product and reaching customers. Think of it as your product’s roadmap to success. What does a GTM Strategy include? Who will buy your product (target market) Why they’ll buy it (value proposition) How they’ll find it (marketing channels) Where they’ll…

What is Social Listening? Social listening, also known as social media listening or online brand monitoring, is a strategic approach to tracking and analyzing online conversations about your brand, industry, and competitors across digital platforms. It’s like having a radar that picks up everything people say about your brand online. But it’s not just about…

What Is a Marketing Mix? Marketing mix is a framework that helps businesses organize their key marketing decisions. The framework helps you: Plan marketing activities Allocate resources Create balanced strategies Measure effectiveness Stay competitive 👆 By the way, the concept of Marketing Mix was first introduced by Neil Borden in 1953, but it was E.…

What Is Customer Data? Customer data is all the information you collect about your customers throughout their journey with your business. This includes: Who they are How they behave What they buy How they interact What they prefer 👆 By the way, companies that effectively use customer data see a 20-30% increase in revenue and…

What is a Loyalty Program? A loyalty program rewards customers for repeated business with your company. Think of it as giving your best customers VIP treatment. These programs help: Increase customer retention Boost repeat purchases Gather customer data Create emotional connections Drive referrals naturally 👆 By the way, it costs 5-25x more to acquire a…

What Is Market Segmentation? Market segmentation is dividing your potential market into distinct groups based on specific characteristics. Market segmentation helps you: Create more targeted products Develop focused marketing messages Set appropriate pricing Choose effective distribution channels Design relevant promotions Identify most profitable segments Allocate marketing budgets efficiently Understand competitive advantages 👆 By the way,…

What is Customer Segmentation? Customer segmentation is the process of dividing your customers into groups based on shared characteristics. 👆 By the way, companies that excel at customer segmentation achieve 20% higher customer lifetime value than those that don’t. Just as your customer journey map tracks the path, segmentation helps you understand who’s taking that…