Cross-Selling
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
241 topics found for:
“business analytics”
HEART Framework
Happiness, Engagement, Adoption, Retention, and Task (HEART) is a framework used to measure and improve user experience success. Important for systematically evaluating and enhancing user experience.
Emerging Trends
Newly developing patterns or shifts in technology, behavior, or design that have the potential to influence future practices and strategies. Important for staying ahead of the curve and adapting to changes in the industry.
Funnel Metrics
Measurements that track the effectiveness of each stage of the funnel, such as conversion rates and drop-off points. Crucial for identifying areas of improvement in the customer journey.
ROAS
Return on Advertising Spend (ROAS) measures the revenue generated for every dollar spent on advertising. Essential for assessing the effectiveness and profitability of marketing campaigns.
Marketing Automation
The use of software to automate repetitive marketing tasks and workflows, improving efficiency and effectiveness. Essential for streamlining marketing processes and increasing productivity.
Demand Generation
The process of creating awareness and demand for a product or service through marketing activities. Crucial for driving interest and engagement in potential customers.
p13n
Numeronym for the word "Personalization" (P + 13 letters + N), tailoring a product, service, or experience to meet the individual preferences, needs, or behaviors of each user. Important for enhancing user satisfaction and engagement.
Data Science
An interdisciplinary field that uses scientific methods, processes, algorithms and systems to extract knowledge and insights from structured and unstructured data. Essential for driving data-informed decision making, predicting trends, and uncovering valuable insights in digital product design and development.
Dashboard Design
The process of creating an interface that displays key performance indicators and metrics in a visually accessible way. Essential for monitoring performance and making data-driven decisions.
Activation Rate
The percentage of users who take a specific action that signifies they are engaging with a product or service. Important for measuring user engagement and the effectiveness of onboarding processes.
Incremental Innovation
The process of making small, continuous improvements to products, services, or processes over time. Important for sustaining growth and maintaining competitiveness through ongoing improvements.
Abandonment Rate
The percentage of users who start but do not complete a desired action, such as completing a form or purchasing a product. Important for identifying issues in user flows and improving conversion rates.
Feature Outcome Assessment
The process of evaluating the impact and success of a feature after its release, based on predefined metrics and user feedback. Crucial for understanding the effectiveness of features and informing future development.
Customer Journey
The complete set of experiences that customers go through when interacting with a company, from initial contact to post-purchase. Essential for understanding and optimizing each touchpoint in the customer lifecycle.
ICE Scoring Model
Impact, Confidence, and Ease of implementation (ICE) is a prioritization framework used in product management to evaluate features. Essential for making informed and strategic decisions about feature development and prioritization.
Social Benchmarking
The practice of comparing one's performance, processes, or practices to those of peers or competitors to identify areas for improvement. Important for understanding relative performance and identifying best practices for improvement.
5V’s of Big Data
Characteristics of big data defined as Volume, Velocity, Variety, Veracity, and Value. Important for understanding the complexities and potential of big data in driving business insights and innovation.
Group Product Manager
A role responsible for overseeing multiple product managers and ensuring alignment and collaboration across different product lines within an organization. Crucial for coordinating efforts and driving strategic product development.
Product Development
Product Development is the process of bringing a new product to market or improving an existing one. Crucial for innovation, meeting customer needs, and maintaining a competitive edge.
DMAIC
Define, Measure, Analyze, Improve, and Control (DMAIC) is a data-driven improvement cycle used in Six Sigma. Crucial for systematically improving processes and ensuring quality in digital product development.
MECE
Mutually Exclusive, Collectively Exhaustive (MECE) is a problem-solving framework ensuring that categories are mutually exclusive and collectively exhaustive, avoiding overlaps and gaps. Essential for structured thinking and comprehensive analysis in problem-solving.
Retention
The ability of a product or service to keep users engaged and returning over time, often measured by metrics such as retention rate. Crucial for evaluating user loyalty and the long-term success of a product.
Behavioral Targeting
A marketing strategy that uses user behavior data to deliver personalized advertisements and content. Important for improving user engagement and conversion rates by providing relevant and timely information to users.
Personalization
The process of tailoring a product or experience to meet the individual needs and preferences of users. Essential for enhancing user engagement and satisfaction by delivering relevant experiences.
Behavioral Product Management
Managing product development with a focus on understanding and influencing user behavior through behavioral science principles. Essential for product managers to create user-centric products that drive desired behaviors.
Release Management
The process of overseeing and coordinating the development, testing, and deployment of software releases to ensure they are delivered efficiently and effectively. Essential for managing software development cycles and ensuring successful product releases.
Lead Qualification
The process of evaluating and categorizing potential customers based on their likelihood to purchase. Essential for prioritizing sales efforts and improving conversion rates.
Demographic
Statistical data relating to a particular population and groups within it. Crucial for market research and understanding target audiences.
Recommendation Engine
A system that suggests products, services, or content to users based on their preferences and behavior. Essential for personalizing user experiences and increasing engagement and conversion rates.
Decoy Pricing
A strategy where an additional, less attractive option is introduced to make other pricing options look more appealing, often steering customers towards a particular choice. Important for guiding user decisions and increasing the perceived value of targeted pricing tiers.
Anchor Pricing
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison. Important for shaping user perceptions of value and creating a benchmark for other pricing options.
Captive Product Pricing
A pricing strategy where a core product is sold at a low price, but complementary products are sold at higher prices. Useful for designing pricing strategies that maximize revenue from complementary products.
Data Architect
A professional responsible for designing and managing data structures, storage solutions, and data flows within an organization. Important for ensuring efficient data management and supporting data-driven decision-making in digital product design.
Affiliate Marketing
A marketing strategy where affiliates earn a commission for driving sales or traffic to a company's website. Crucial for product managers and marketers to expand reach and drive sales through partnerships.
Advocacy Marketing
A marketing strategy that leverages satisfied customers to promote products through word-of-mouth and personal endorsements. Important for product managers and marketers to enhance brand loyalty and customer engagement.
Buyer Persona
A semi-fictional representation of an ideal customer based on market research and real data about existing customers. Essential for targeting design and marketing efforts to meet the needs and preferences of specific user groups.
Forecasting
The process of making predictions about future trends based on current and historical data. Useful for anticipating user needs and market trends to inform design decisions.
Feedback Management
The process of systematically collecting, analyzing, and acting on feedback from users to improve products and services. Essential for ensuring that user insights are effectively integrated into the development process.
Standard Economic Model
A theoretical framework in economics that assumes individuals act rationally and seek to maximize utility, used to predict economic behavior and outcomes. Important for understanding traditional economic theories and designing systems that account for rational decision-making.
Product Roadmap
A strategic plan that outlines the goals, milestones, and steps needed to deliver a product that achieves desired outcomes incrementally, providing a clear path forward. Essential for guiding product development and ensuring alignment with strategic objectives.
BTL
Below the Line (BTL) refers to marketing activities targeting specific consumer groups through direct channels. Essential for personalized marketing and building deeper customer relationships.
4 P’S Marketing Mix
The four key elements of marketing: Product, Price, Place, and Promotion, used to develop marketing strategies. Important for creating comprehensive marketing strategies that effectively promote digital products.
NPD
New Product Development (NPD) is the complete process of bringing a new product to market, from idea generation to commercialization. Essential for companies to innovate, stay competitive, and meet evolving customer needs through a structured approach to creating and launching new offerings.
360-Degree Customer View
A comprehensive view of a customer that includes data from all interactions and touchpoints across the customer journey. Crucial for delivering personalized experiences and improving customer satisfaction.
Engagement Score
A metric used to rank leads based on their engagement with a brand, indicating their readiness to purchase. Crucial for prioritizing leads and improving sales efficiency.
MoT
Moment of Truth (MoT) refers to any instance where a customer interacts with a brand, product, or service in a way that leaves a significant impression. Crucial for identifying key touchpoints in the customer journey and optimizing them to enhance overall user experience and brand perception.
Emotional Intelligence
The ability to recognize, understand, and manage one's own emotions and the emotions of others. Essential for designing empathetic user experiences and effective team collaboration.
Minimize Waste
A principle in lean management aimed at reducing non-value-added activities to improve efficiency. Important for optimizing processes and resource use.
Product Consolidation
The process of combining multiple products or product lines into a single offering to streamline operations and reduce complexity. Useful for optimizing product portfolios and improving operational efficiency.
Product Adoption Rate
The speed at which users start using a new product, typically measured as a percentage of the target market over a specific period. Essential for evaluating the success of a product launch and planning subsequent strategies.
Discounted Utility
A concept in behavioral economics that describes how future benefits are perceived as less valuable than immediate ones. Important for understanding user preferences and designing experiences that account for time-based value perceptions.
RICE Scoring Model
A prioritization framework used in product management to evaluate features based on Reach, Impact, Confidence, and Effort. Crucial for making informed decisions about which product features to prioritize and develop.
Content Ecology
The dynamic system of content creation, distribution, and interaction within an environment. Important for understanding how content flows and interacts within a system.
Confidence Interval
A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter. Essential for making inferences about population parameters and understanding the precision of estimates in product design analysis.
Unfreeze-Change-Refreeze
A model of organizational change management that involves preparing for change (unfreeze), implementing change (change), and solidifying the new state (refreeze). Important for successfully implementing and sustaining changes in product design processes and organizational practices.
PMO
A Project Management Office (PMO) is a centralized unit within an organization that oversees and standardizes project management practices. Essential for ensuring consistency, efficiency, and alignment with strategic goals across projects.
Release Plan
A detailed strategy outlining the timeline, milestones, and deliverables for a product release, ensuring that all activities are aligned and completed on schedule. Essential for coordinating efforts and ensuring a successful product launch.
Design Tradeoffs
The compromises made between different design options, balancing various factors like usability, aesthetics, and functionality. Essential for making informed decisions that optimize overall design effectiveness.
ATL
Above the Line (ATL) refers to marketing activities carried out at a macro level to reach a large audience through mass media such as TV, radio, and print ads. Essential for building brand awareness and reaching a wide audience.