Retention Rate
The percentage of users who continue to use a product or service over a specified period, indicating user loyalty and engagement.
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“customer effort”
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.
Engagement Score
A metric used to rank leads based on their engagement with a brand, indicating their readiness to purchase.
NPD
New Product Development (NPD) is the complete process of bringing a new product to market, from idea generation to commercialization.
Product vs. Program
Products are individual items or services designed to meet specific customer needs, while programs are collections of related projects and products managed together to achieve broader strategic goals.
Lead Conversion Rate
The percentage of leads that convert into customers.
IKEA Effect
The tendency for people to value products more highly if they have put effort into assembling them.
Niche Market
A small, specialized market segment focused on a particular product or service, often characterized by a unique demand.
Choice-Supportive Bias
The tendency to attribute positive qualities to one's own choices and downplay the negatives, enhancing post-decision satisfaction.