SOM
Serviceable Obtainable Market (SOM) is the portion of the Serviceable Addressable Market that a company can realistically capture. Essential for setting achievable sales and market share goals.
88 topics found for:
“data-driven analysis”
Competitive Intelligence
The process of gathering and analyzing information about competitors to inform business strategy and decision-making. Essential for understanding market positioning and developing effective competitive strategies.
AARRR
Acquisition, Activation, Retention, Referral, and Revenue (AARRR) is a metrics framework for assessing user engagement and business performance. Important for product managers to understand customer lifecycle and optimize business growth.
MRD
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product. It serves as a crucial tool for aligning product development efforts with market demands and business goals, ensuring that the final product meets customer needs and achieves market success.
CPOO
Cost Per Objective Option (CPOO) is a metric used to measure the cost efficiency of different marketing options based on achieving specific objectives. This metric is crucial for optimizing marketing spend and measuring campaign effectiveness.
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.
Brand Audit
A thorough examination of a brand's current position in the market and its effectiveness in reaching its goals. Important for assessing brand health and identifying areas for improvement.
80/20 Rule
A principle stating that 80% of effects come from 20% of causes, often used to prioritize tasks and identify key areas of focus. Essential for prioritizing tasks and focusing efforts on the most impactful areas.
Keyword Research
The practice of identifying and analyzing search terms that users enter into search engines, used to inform content strategy and SEO. Essential for understanding user intent and optimizing content to meet search demand.
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.
Prioritization Matrix
A decision-making tool that helps prioritize tasks or projects based on specific criteria, such as impact and effort. Essential for effective project management and resource allocation.
Feature Audit
A systematic evaluation of all features in a product to determine their usage, effectiveness, and alignment with business goals. Essential for optimizing product performance and user satisfaction.
Sales Funnel
Often referred to as "marketing funnel", a model that represents the user journey from awareness to purchase used to analyze and optimize conversion of prospects to customers. Essential for understanding and improving the customer journey and conversion process.
Competitive Analysis
A strategic research process that involves evaluating competitors' products, services, and market positions to identify opportunities and threats. Essential for informing product strategy, differentiating offerings, and gaining a competitive advantage in the market.
Growth Hacking
A marketing technique focused on rapid experimentation across various channels and strategies to identify the most effective ways to grow a business. Important for quickly scaling businesses and achieving significant growth.
Lead Conversion Rate
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
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.
KPI
Key Performance Indicators (KPIs) are quantifiable measures used to evaluate the success of an organization, employee, or project in meeting objectives for performance. Essential for tracking progress, making informed decisions, and aligning efforts with strategic goals across various business functions, including product design and development.
ROI
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.
Product Mix Strategy
The approach a company takes to manage and market its portfolio of products, ensuring each product supports the overall business strategy. Important for optimizing the range of products offered to maximize market reach and profitability.
User Feedback
Information provided by users about their experience with a product, used to inform improvements and adjustments. Crucial for continuous improvement and user-centered design.
Campaign Management
The process of planning, executing, tracking, and analyzing marketing campaigns. Essential for ensuring the success and efficiency of marketing campaigns.
Funnel Velocity
The speed at which leads move through the sales funnel. Crucial for understanding and optimizing the sales process.
Probability Matching
A decision-making strategy where individuals allocate resources proportionally to the probability of an outcome occurring, rather than optimizing the most likely outcome. Important for understanding decision-making behaviors and designing systems that guide better resource allocation.
T-Shirt Sizing
A relative estimation technique used in Agile project management to quickly assess the size and complexity of tasks by assigning them T-shirt sizes (e.g., small, medium, large). Crucial for efficient project planning and workload management.
Product Positioning
The process of defining how a product is perceived in the minds of consumers, relative to competing products, to create a unique market identity. Essential for differentiating a product and attracting the target market.
Brand Positioning
The strategy of placing a brand in the market to occupy a distinct and valued place in the minds of the target audience. Crucial for differentiating a brand and achieving competitive advantage.
Red Ocean
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability. Important for understanding competitive dynamics and market saturation in strategic planning.