Having a conversation with an eCommerce expert might often leave you looking for a dictionary! Don't worry; you're not on your own!Businesses that are new to eCommerce, whether sellers, buyers or enablers, should be familiar with the vocabulary used in everyday conversations. The following is a list of the most popular eCommerce pricing dictionary ,buzzwords, and phrases.
This post is a little different from the others in that it will discuss the many eCommerce terminologies that are used nowadays. It is critical to becoming acquainted with them to gain a better understanding of the internet world.
The following is a brief definition of these eCommerce terms:
1. 301 Redirect
This is a permanent redirection from one URL to another that immediately redirects site visitors and search engines to the new URL rather than the one they typed in.When the URL of a website is changed for any reason, 301 Redirect is a critical practice to retain the domain authority and search rankings. The 301 status code indicates that the page has been relocated permanently to a new location.
2. Abandonment
Abandonment is a phrase used in eCommerce to describe when a visitor comes to a website and leaves without taking the intended action. It's when a customer adds products to his shopping cart but then leaves without purchasing them for whatever reason.
Cart abandonment is another term for it. There are numerous other sorts of abandonment, such as booking abandonment and shipment abandonment, but shopping cart abandonment is the most common in the computer sector.
3. A/B Testing
A/B Testing, often known as Split Testing, is a website development approach that compares two web pages to see which one performs better. There are two variants of the web page shown to the prospect at random, and the page with the highest conversion rate is chosen.
As a result, eCommerce pricing dictionary aids in determining the most effective online promotional and marketing strategies for online businesses.Split testing, commonly known as A/B testing, can be utilised on popups and emails.
4. Address Verification Service (AVS)
A method that every credit card firm implements in their system to check whether the billing address provided by the customer matches the address on the credit card statement.
It can be compared to the address on file with the credit card issuer or on the credit card statement.
5. Affiliate
A sort of inter-business partnership in which one company sells the items of other companies on its website. An affiliate is a commercial partner of the merchant who uses various visual techniques to advertise the merchant's products and services on his website.
In exchange, the merchant pays an affiliate commission if a visitor visits his website and purchases the merchant's products. The degree of ownership a parent firm has in another company determines the status of an affiliate.
6. Affiliate marketing
This is a type of marketing in which a company pays a commission to one or more affiliates for each conversion resulting from the affiliate's marketing efforts. To put it another way, when a customer visits your online store and makes a purchase, the external website receives a reward for directing traffic to your store. Affiliate marketing is a type of pay-per-click advertising.
7. An API (application programming interface)
An API is a set of protocols, specifications, or instructions that allow two software applications to communicate and share data. It's a programming language used to create software applications that operate as an interface between other software programmes and allow interaction.
It allows developers to conduct tasks using conventional commands rather than having to write code from scratch. APIs are also employed in the development of graphical user interface (GUI) components.
8. Average Time on Site
It's a term that frequently appears in web analytics reports and refers to the amount of time a visitor spends on a webpage while exploring. This is the time in minutes or seconds, and it can be misleading in the analytics report because it does not account for the visitor's actual reading time on the webpage.
Because the visitor may be interacting with the pages and site content, or they may have kept the browser window open and not been reading the webpage, the exact time spent cannot be determined.
9. B2B (Business to Business)
In eCommerce it refers to the exchange of products and services between two businesses in eCommerce. It is a circumstance in which one company transacts business with another company. A manufacturer may work with a wholesaler, or a wholesaler may work with a retailer.
B2B decision-making can happen at multiple levels. When a salesperson meets with the departmental manager to discuss a sale, for example, the departmental manager must first obtain approval from the firm owner before the deal can be completed.
10. Blog
A blog is a conversational type of information or discussion that is updated regularly on a website or webpage and is maintained by an individual or a small group.The term "blog" was created by combining the words "web" and "log." Individuals or small groups focus on specific themes and write informal diary-style text entries to detail the issue.Blogs frequently include graphics and links to other websites, as well as discussion forums. Some people use them as a place to record their journeys or diaries.
Final Thought
eCommerce technology changes daily; this list is not exhaustive. We do hope, however, that you find it useful. Moreover, don’t hesitate to know more about the eCommerce pricing dictionary and its different terminologies, which are mainly used nowadays.
