If you are considering moving your physical store to the internet or selling over the internet, there are some terms about e-commerce that you must know. When you step into the e-commerce industry without knowing these terms, you may have difficulties with many issues.
E-commerce terms are important resources that can be used by consumers who shop from domestic or foreign sites, as well as sellers.
Below, we have listed the top 20 terms that come to mind about e-commerce for you.
1. 301 Redirect
The “301 Moved Permanently” status code is generally used as a redirect from one page to another. For example, you can activate a redirect for visitors to the /contact page and direct them to the /about us page. By using this way, you can direct your visitors between the pages as you wish.
Cart abandonment means customers add items to their online shopping cart, but leave the website without making a purchase.
The cart abandonment rate tells us how many of the items the customer has added to their shopping cart have been abandoned.
3. A/B Testing or Split Testing
A/B testing refers to comparing different content and design examples with pairwise comparisons. The purpose of this comparison may differ depending on the system you are A/B testing.
You can perform different A/B tests for the homepage, membership page, sales page, landing page, or blog page and follow the change of your targeted action (such as signing up, returning to sales, clicking).
A/B Testing is also called Split Testing. It can be used especially as popups and emails.
4. Address Verification Service (AVS)
AVS works to verify that the address the customer enters is associated with the cardholder’s credit card account.
During the payment process, your customer’s address is entered and this address is then compared with the registered address in the bank that issued the card. After the addresses are compared, the card bank returns an AVS code to the merchant. This AVS code can be used as a guide to determine how to proceed.
Affiliate is a type of intercompany relationship where one firm sells other merchants’ products on its website.
Affiliate can be referred to as the commercial partner of the seller that promotes its products and services on its website with different visual tools.
6. Affiliate Marketing
Affiliate marketing is a method that allows you to earn money by advertising websites or businesses online and earning commissions from each successful sale.
7. Application Programming Interface (API)
API software enables applications developed with their own data and working principles to work by communicating with each other.
Information about the products that your customers view in your mobile application is displayed via an interface from your e-commerce site.
In the same way, APIs come into play in the process of reaching you with the order given by the user.
Authorization defines the privileges of the authenticated user on the resource they want to access. For example, we can give file and folder accesses, access hours, or the amount of reserved space.
9. Average Time on Site
The average time visitors spend on the site. A high timeout means that there is engaging content on your site for visitors.
10. B2B (Business to Business)
“Business to Business” refers to the marketing or sales practices that companies carry out among themselves.
Companies operating in the B2B field basically work with the principle of improving each other’s services.
11. B2C (Business to Consumer)
“Business to Consumer” describes the business relationship that companies establish directly with consumers.
All purchases we make individually are within the scope of the B2C business model.
A blog is an informal conversational text written by an individual or small group on a website and regularly updated. The word blog is a combination of the words Web and Log.
Individuals or small groups focus on specific topics such as marketing or technology when blogging.
13. Bounce Rate
A bounce rate occurs when a visitor comes to your website and the same visitor exits your website without clicking on another page.
As an additional note, a high bounce rate means that you need to optimize the page or content on your website.
14. Bottom of the Funnel
The bottom of the funnel is the stage where the purchase is complete. Besides, it is not the ultimate end for content marketing, of course. In order for your customers to purchase from you again, you should continue to communicate with them. Because it is also an effective step to gain new customers.
15. Brick-and-click Store
A brick-and-click store is any business that has at least one physical location and an eCommerce-enabled website.
This is also an upgrade of the brick-and-mortar model that Americans are very familiar with.
Bundling is one of the most effective sales tactics. It means that more than one product is created in a package and offered for sale, often at a discounted price.
Packages usually consist of products that complement or resemble each other. Selling products or services in packages is advantageous for both sellers and consumers.
17. Business Blogging
Business blogging is a marketing tactic that uses blogging to give your business more online visibility.
Also, when writing a business blog, it’s important to remember that your blog posts are about a specific topic related to your business.
For example, if you manage a digital marketing platform, you should talk about topics related to your field such as the use of Facebook and Twitter in digital marketing, e-mail marketing.
18. Buy-to-Detail Rate
A metric that allows you to identify unique purchases per view of the product details page. Buy-to-Detail Rate helps you understand which products users are purchasing after browsing product details.
Thus, you can determine the products on your list that sell the best and those that do not contribute.
19. Buyers Persona
Buyer Persona is the creation of a profile of your best customers, based on information about them and how they use your purchased products.
Thanks to the customer profile created using this data, we can understand how they decide to buy the services and products sold.
Persona marketing allows us to develop strategies that suit the ideal customer we seek to attract in our sales activities and product development efforts.
Example: Instead of sending the same marketing email to everyone in your database, you can segment by buyer personas and customize your messages to those different people. This will increase your sales conversion and increase your profitability.
When marketers and business owners build a website, they must use an effective call to action content to convince their audience that clicking through to their content is a must.
A strong CTA drives people to take action — be it a purchase, a subscription, a reservation, or any other action that serves the purpose of the business.
A buyer personality reveals insights into buyers’ decisions, particular attitudes, concerns, and criteria. It is a research-based modeled representation of:
a. Who are the buyers and their targets?
B. How do they think and what drives their behavior?
C. Under what conditions do they make their purchasing decisions?