This two-part article aims to give businesses beginning their web presence a helping hand in explaining business acronyms and how they are significant to a company’s e-commerce:
ROI: In and amongst the vague and disputed acronyms, ROI or Return on Investment (also freely given as ROR, Rate of Return) is undoubtedly the most crucial term you will ever deal with in your business. ROI, in its simplest form, is a way of working out how much we have gained or lost against how much we originally invested. For online businesses, this applies to things like campaign revenue and our SEO investment (explained later).
B2C: Business to Consumer is a term used to differentiate a business which sells directly to its customers, from one selling to other businesses. There is obviously a huge difference between the ways both types of business model function practically. For B2C businesses, it is necessary of course to understand the other forms of business, such as B2B (Business to Business), as these services are the counterpart of one’s continued eCommerce success.
CRM: Customer Relationship Management, or Customer Retention Management can be described as a series of actions taken towards bringing customers back to us for repeated sales. It attempts to bind customer service with increased sales productivity, and we can see why. A database with which to monitor and record interactions with the customer is usually the most simple way to conduct a CRM, whether it be used to inform previous customers of new products, or simply providing a personalized level of customer service.
PPC: PPC or Pay Per Click is one major form of internet advertising which charges those advertising only when their link is clicked upon. You will recognize these links as the first three highlighted results of a Google search. Pay per click campaigns, when properly configured, are vital in bringing better traffic to one’s website.
PESTLE: A marketing acronym designed to help a large business understand its own environmental implications on the macro scale. These criteria are represented as Political, Economic, Social, Technological, Legal and Ecological. All these things might seem difficult to influence for most small online businesses. However, we only have to look at the efforts of companies to ‘rootsify’ their company appearances to fit socio-ecological necessities in recent years.
SEO: Search engine optimization is the branch of marketing and advertising encompassing the furthering of a company’s web presence, particularly in regard to its performance in a search engine. An ‘SEO’ (singular with indefinite article) refers also to the person charged with the task of carrying out this optimization. SEO is distinguished from SEM (Search Engine Marketing) in that the latter deals with directly paid inclusion for presence, whereas SEO is an ongoing improvement of traffic quality through various means.
BPO: BPO (Business Process Outsourcing) is the offshoring or otherwise contracting of certain business actions, tasks, or processes to a third-party service provider. The benefits of BPO services were traditionally built around cost-saving, whereas development of these services in India has meant that a BPO provider can now offer more competent and flexible alternatives to business processes than the initial business may be capable of. Vertex is a supplier of such services.
End of Part 1..
Topic: b2c businesses, better traffic, business acronyms, customer relationship management, customer retention management, google, google search, marketi, model function, sales productivity