lead-to-revenue management (L2RM)
Lead-to-revenue management (L2RM) is a set of sales and marketing methods that focuses on generating revenue throughout the customer life cycle. More prominent in business-to-business (B2B) marketing and sales, L2RM starts in the lead generation phase and extends through each stage in the buyer's journey in order to evaluate how much money customers in each stage brings in.
The goal of L2RM is to judge customer engagement through the lens of revenue ...
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Business Metric Definition
Business Metric Definition
A business metric is a quantifiable measure businesses use to track, monitor and assess the success or failure of various business processes. The main goal of measuring business metrics is to track cost management, but the overall point of employing them is to communicate a company's progression toward certain long- and short-term objectives. This often requires the input of key stakeholders in the business as to which metrics matter to them. Some organizations outlin...
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Sales Cycle Definition
Sales Cycle Definition
The sales cycle is the sequence of phases that a typical customer goes through when deciding to buy something. As a rule, the sales cycle is described from the customer's perspective. The first phase of the sales cycle may be either the customer's perception of a product, or a perception of a need that the product might satisfy. The following steps include research and evaluation; the last step is the customer's decision to purchase the product.
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conversion rate
conversion rate
The conversion rate is the rate at which website visitors or potential customers take a specific desirable action. The actions desired in these conversion rates could include subscribing to newsletters, filling out forms, applying for credit cards, purchasing products or making service commitments.The conversion rate is used as a metric to quantify the effectiveness of marketing campaigns, sales, salespeople, website designs and other sales tools. The rate is calculated as t...
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CDN (content delivery network) Definition
CDN (content delivery network) Definition
A CDN (content delivery network), also called a content distribution network, is a group of geographically distributed and interconnected servers that provide cached internet content from a network location closest to a user to accelerate its delivery. The primary goal of a CDN is to improve web performance by reducing the time needed to transmit content and rich media to users' internet-connected devices.
Content delivery network architecture is als...
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Social Media Marketing (SMM) Definition
Social Media Marketing (SMM) Definition
Social media marketing (SMM) is a form of Internet marketing that utilizes social networkingwebsites as a marketing tool. The goal of SMM is to produce content that users will share with their social network to help a company increase brand exposure and broaden customer reach.
One of the key components of SMM is social media optimization (SMO). Like search engine optimization (SEO), SMO is a strategy for drawing new and unique visitors to a website. SM...
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Content Marketing Definition
Content Marketing Definition
Content marketing is the publication of material designed to promote a brand, usually through a more oblique and subtle approach than that of traditional push advertising. Content marketing is most effective when it provides the consumer with accurate and unbiased information, the publisher with additional content and the advertiser with a larger audience and ultimately, a stronger brand.
On the internet, content marketing campaigns involve publishing custom co...
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Entity Relationship Diagram (ERD) Definition
Entity Relationship Diagram (ERD) Definition
An entity relationship diagram (ERD), also known as an entity relationship model, is a graphical representation of an information system that depicts the relationships among people, objects, places, concepts or events within that system. An ERD is a data modelingechnique that can help define business processes and be used as the foundation for a relational database.
Importance of ERDs and their uses
Entity relationship diagrams provide a visu...
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Interactive Voice Response (IVR) Definition
Interactive Voice Response (IVR) Definition
Interactive Voice Response (IVR) is an automated telephony system that interacts with callers, gathers information and routes calls to the appropriate recipients. An IVR system (IVRS) accepts a combination of voice telephone input and touch-tone keypad selection and provides the appropriate responses in the form of voice, fax, callback, email and other contact methods.
IVR systems can consist of telephony equipment, software applications, a datab...
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Customer Experience Management (CEM or CXM)
Customer Experience Management (CEM or CXM)
Customer experience management (CEM or CXM) is the collection of processes a company uses to track, oversee and organize every interaction between a customer and the organization throughout the customer lifecycle.
The goal of CEM is to optimize interactions from the customer's perspective and foster customer loyalty. To manage the customer experience, a company needs to create a customer-centric strategy that encompasses all interactions.
Ho...
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