Business Dictionary

Loyalty program - A set of marketing campaigns aimed at increasing repeat purchases, promoting corporate ideas and values, and encouraging other forms of potentially profitable behavior.

Bonus - A system of rewards for loyal customers based on the accumulation of bonus units for purchases, which can then be exchanged for special rewards or used when paying part or the full cost of a purchase.

Cashback - A return of a certain part of the purchase price in the form of deferred bonuses that encourage the client to make purchases.

Discount - Voluntary reduction of the original cost by the seller to attract more customers.

Bonus accumulative - A form of a graduated accumulative system that allows to accumulate bonuses when making purchases and then pay for future purchases with those bonuses.

Cashback accumulative - A type of a graduated accumulative system that allows you to accumulate a certain unit of purchase and then pay with accumulated units for subsequent purchases.

Discount accumulative - A type of a stepped accumulative system, that allows to move from one discount category to a more inflated one after a certain number of transactions.

Referral - A loyalty program that allows to receive certain privileges for inviting a friend or acquaintance.

Lead - Specific actions of consumers, which are selected by the advertiser according to the specific criteria.

Campaign - An action organized by a company or brand with the aim of increasing sales, attracting new customers or increasing the interest of existing customers.

Promo code - A unique code consisting of a combination of letters and / or numbers that giving the right to purchase a product or service on special terms.

FeedBack - Review from a consumers, buyers or clients.

Coupon - A method of incentivizing consumers when other items, such as prizes, are added to the purchased item and sold together at a lower price than if they were purchased separately.

Voucher - A type of promotion that allows customers to purchase a privilege after making purchases the required number of times.

Discount campaign - A set of measures aimed at improving the efficiency of interaction with participants in the marketing channel in order to form customer loyalty.

Referral campaign - The process of distributing information about a product not through traditional advertising channels, but through existing buyers, when they tell their friends and relatives about the service they like.

Loyalty campaign - An event held in a certain period of time in order to gain the loyalty of existing customers.

Transaction - Any payment transaction performed in the process of a sale and purchase.

Push notifications - Are short messages sent to subscribers on computers and mobile devices.

QR code (Quick Response) - A barcode read by the phone containing information about the object to which it is linked.

Average check - Indicator of sales performance. It is calculated by dividing the total amount of purchases made by their number.

Digital loyalty card - A card that is stored in your client's mobile phone and has a number of advantages over traditional plastic or paper cards.

Unique customer - The customer who first contacted your company.

Gamification - A technology for adapting gaming methods to non-gaming processes and events for greater involvement.

Customer experience - The result of interactions between the business / organization and the customer.

POS (Point of sale or place of purchase) - Where the customer completes the purchase.

NPS (Net Promoter Score) - An index for determining the commitment of consumers to a product or company (readiness to recommend index), is used to assess readiness to repeat purchases.

LTV (Customer Lifetime Value) - An index that helps to calculate the amount of profit that a company receives from one client for the entire time of cooperation with him.

CRM (Customer Relationship Management) - System can help increase revenue, maximize marketing, and enhance customer service by maintaining information about customers and the history of interactions with them.

CLM (Customer Lifecycle Management) - Easuring several customer-related metrics that, when analyzed over a period of time, indicate business performance.

CDP (Customer Data Platform) - A set of software that creates a permanent, unified customer database available to other systems.

Data Collection Platform - A computer application that facilitates the data collection process by allowing to systematically collect specific structured information and then perform data analysis based on that information.

Targeting - An advertising mechanism that allows to pick only that portion of the available audience that fits the prescribed requirements and present advertising to that segment.