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Your comprehensive guide to understanding e-commerce and product information management terminology.
Average Order Value (AOV) is an e-commerce metric representing the average amount spent per customer order. PIM-managed product data supports strategies like cross-selling and upselling to increase AOV.
B2B marketing refers to the strategies and tactics used to promote products or services to other businesses, rather than directly to individual consumers. It focuses on rational decision-making and long-term relationships.
Brand management involves overseeing the tangible and intangible elements of a brand to increase its perceived value. It ensures consistent messaging, visual identity, and customer experience across all touchpoints.
Brand consistency means maintaining a uniform brand identity across all customer touchpoints. It ensures a cohesive customer experience and reinforces brand recognition.
A channel-specific content strategy defines how product content is tailored and optimized for the unique requirements and audience expectations of each sales channel.
Channel-specific pricing involves setting different prices for the same product across various sales channels, optimizing for each platform's dynamics.
Composable Commerce is an architectural approach where e-commerce solutions are built by selecting and assembling best-of-breed components via APIs.
Conversion Rate (CR) is an e-commerce metric measuring the percentage of website visitors who complete a desired action, such as making a purchase. High-quality product data significantly impacts CR.
CRO for product pages is the process of enhancing product detail pages to increase the percentage of visitors who complete a desired action, such as making a purchase.
Cross-selling is a sales strategy where businesses recommend complementary products to a customer. PIM systems enable effective cross-selling by managing product relationships and rich content.
A Customer Data Platform (CDP) is a software system that unifies customer data from various sources into a single, persistent, and comprehensive customer profile. It enables personalized marketing and enhanced customer experiences.
Customer-centric product data organizes and enriches product information to directly address customer needs, questions, and purchasing journey stages.