A/B testing is a method of comparing two versions of a webpage or app to determine which one performs better. In this process, two different versions of a website or app are shown to different users, and their behavior is monitored to determine which one performs better. This approach allows marketers to test and optimize their digital marketing campaigns to maximize conversions, click-through rates, and other key metrics.
Customer Health Score measures the relationship between the business and the customer. It is aimed at assessing the health of those relationships and predicting their future direction: churn, renewal, expansion. This score can help businesses identify customers churn or disengagement, allowing them to take proactive steps to improve the customer experience.
Customer Maturity Index measures the sophistication of the customer in running their function and consequently their ability to utilize and derive value from the business’s solution. It is aimed at identifying the actions businesses should take to address the customer needs.
Customer Sophistication is a measure of the advanced capabilities that an account or user has adopted in the product, sometimes represented by a score.
The Account Health Index (AHI) is a composite score that reflects the overall health of a customer account.
Also referred to as "customers" or "companies", Accounts on the Fuzy platform are businesses that use your software. Accounts are created when we detect a unique website domain and can be synced from integrations or are created when a new user signs up.
Account Penetration is a measurement of the extent to which your products or services are used within a particular customer account.
Activation rate refers to the percentage of users who have completed a desired action or engaged with a product or service in a way that indicates they are fully using it. This metric is often used in digital marketing to measure the effectiveness of a campaign or product launch. A high activation rate implies that a large percentage of users are actively engaging with the product or service, which can lead to increased revenue and customer satisfaction. For example, if a new app has 10,000 downloads but only 5,000 users have actually created an account and started using it, the activation rate would be 50%. By measuring activation rate, companies can identify areas of improvement and optimize their marketing strategies to increase engagement and retention.
Active users are engaged users who have used a specific product at least once within the last 30 days, or some other duration of time set by your organization. By tracking Active Users, marketers and product managers can proxy the popularity and effectiveness of their product, identify areas for improvement or expansion, and even upsell to more committed users. For more advanced organizations, it's common to avoid measuring Active Users just by login frequency—marketers should also consider in-product actions and interactions that showcase real value generation for these users. Keeping an eye on Active Users helps companies ensure their products remain relevant and useful.
Beta testing is the process of testing a software, application, or product before its official launch to identify and fix any errors or bugs that may have been missed during the development process. It involves releasing the product to a limited number of users who try it out and provide feedback on its performance, usability, and overall user experience. The feedback received during beta testing helps developers improve the product and ensure that it meets the needs and expectations of its target audience. Beta testing is a crucial phase in the product development cycle, as it helps ensure that the final product is of the highest quality.
Bottom-up adoption is a process in which a new technology, product or service is adopted by individuals or small groups within an organization, rather than being imposed from the top-down by management or executives. This approach is often considered more organic and allows for greater individual autonomy and creativity. For example, if a company wants to introduce a new project management tool, instead of mandating its use from the top, they might allow individual teams to test and adopt the tool on their own. This way, the tool can be evaluated on a smaller scale before it is fully implemented across the organization. Bottom-up adoption can also help build buy-in and enthusiasm for the new technology or process.
Cohort analysis is a technique used in marketing and data analysis to segment and analyze groups of users who share a common characteristic or experience. This technique allows businesses to track the behavior and preferences of specific groups of customers over time, which helps in identifying patterns and trends that can be used to develop effective marketing strategies. Cohort analysis is commonly used in digital marketing to track the behavior of users who sign up or make a purchase within a specific time frame, such as a week, a month, or a year.
Concept testing is a market research technique that helps businesses evaluate the viability and potential success of a new product, service, or idea. It involves gathering feedback from a group of target consumers or potential customers to better understand their thoughts, opinions, and preferences regarding the concept. The goal of concept testing is to identify and address potential issues or concerns before launching a product or service to the general public.
Conversion Rate Optimization (CRO) is the process of improving the percentage of website visitors who take a desired action such as making a purchase, filling out a form, subscribing to a newsletter, or clicking on a link. CRO is a data-driven strategy that involves analyzing user behavior, identifying barriers to conversion, and implementing changes that increase the likelihood of visitors completing the desired action. The goal of CRO is to improve the overall effectiveness of a website or landing page, resulting in higher conversion rates and ultimately, increased revenue.
Cross-selling involves recommending products that complement the customer's initial purchase and fulfill additional needs. When recommended at the right time, cross-selling nudges customers to buy extra items that they likely would have purchased anyway. As a popular sales tactic, over 40% of companies see 11–30% of their revenue coming from cross-sells.
The Customer Effort Score (CES) is a metric that measures how easy or difficult it is for customers to interact with a company while resolving an issue or completing a task. It is a customer satisfaction metric that gauges the level of effort customers had to put in while engaging with a company. CES is measured by asking customers a simple question: "How easy was it to solve your problem with our company?" and then customers can rate their experience on a scale from one to five (or ten). For instance, if a customer service experience is smooth and effortless, the CES score would be high, indicating high customer satisfaction. On the other hand, if the customer had to put in a lot of effort and experienced frustration, the CES score would be low, indicating poor customer satisfaction.
Customer onboarding is the systematic process through which new clients or users are introduced to a product or service. It begins from the moment a customer signs up or makes a purchase and continues until they achieve their "first success" with the product, understanding its value and becoming comfortable with its features. This can involve tutorials, walkthroughs, training sessions, and continuous support. Customer onboarding ensures that users not only understand the product but also realize its potential benefits.
Customer journey mapping is a process of visualizing the entire customer experience from the initial customer touchpoint to the final purchase decision. It involves creating a detailed map of the customer's journey, analyzing their behavior at each step, and identifying key opportunities for improvement. Businesses can gain insights into customers' experiences, expectations, and pain points. The goal is to identify opportunities to enhance the customer experience, streamline the buying process, and foster brand loyalty.
Renewal rate is the percentage of customers who opt to continue their subscriptions at the end of a subscription period.
Customer retention refers to the ability of a business or organization to retain its existing customers over a period of time. It is a key performance indicator for customer satisfaction and loyalty, and it is essential for long-term profitability and sustainability. Customer retention can be achieved by offering superior products or services, excellent customer service, loyalty programs, discounts, and other incentives to keep customers coming back.
Customer Satisfaction (CSAT) is a metric that measures how satisfied customers are with a company's products/services or overall experience. It is a crucial aspect of any business as it directly impacts customer loyalty, retention, and advocacy. CSAT can be measured through surveys, feedback forms, or social media reviews.
The number of users in your product on a specific day. Often used alongside WAU (Weekly Active Users) and MAU (Monthly Active Users) to determine product improvement over time.
Expansion MRR refers to the monthly recurring revenue generated when existing customers upgrade or expand their services with a business. It is an important metric for companies looking to grow their revenue streams and improve customer retention.
Funnel analysis is the process of tracking and analyzing the steps that users take to achieve a specific goal on a website or mobile app. This process involves analyzing the different stages of the user journey, from initial awareness to conversion, and identifying the points where users drop off or abandon the funnel.
Market segmentation is the process of dividing a broad target market into smaller groups of consumers with similar needs or characteristics. This technique enables businesses to tailor their marketing efforts and better understand their customers. There are various ways to segment a market, including demographic, geographic, psychographic, and behavioral segmentation.
Minimum Viable Product (MVP) is a development strategy that enables businesses to create and launch a product with the minimum set of features required to satisfy initial customers' needs. The concept of MVP is to release a product with limited features, test it with early adopters or a small group of customers, gather feedback, and use it to improve the product further. The main goal of MVP is to get the product to market quickly, save resources, and minimize risks.
Monthly Active Users (MAU) is a metric used to measure the number of unique users who engage with a particular product, service or platform during a given month. This metric is particularly important for digital companies that rely on user engagement to generate revenue. MAU can be a useful tool for measuring growth and assessing user retention.
Multi-Touch Attribution is a marketing strategy used to measure the contribution of each touchpoint or interaction a customer has with a brand before making a purchase. It is a method of assigning credit to multiple marketing channels or touchpoints that have influenced a customer's decision to buy a product or service. Unlike traditional single-touch attribution models, which give credit only to the last touchpoint before conversion, multi-touch attribution models consider every touchpoint along the customer journey, providing a more comprehensive understanding of the customer's behavior.
Net Promoter Score (NPS) is a metric used to gauge the loyalty and satisfaction of customers towards a brand or company. It is based on a single question survey that asks customers how likely they are to recommend the product or service to others on a scale of 0 to 10. Those who respond with a score of 9 or 10 are considered promoters, while those who score 7 or 8 are passive, and those who score 0 to 6 are detractors. The NPS score is calculated by subtracting the percentage of detractors from the percentage of promoters. The score ranges from -100 to 100.
Net Retention Rate (NRR) is a metric used by businesses to measure the impact of customer retention on their revenue growth. It measures the percentage of revenue a business retains from existing customers, after factoring in churn (customer loss) and expansion (increased revenue from existing customers).
Annual Recurring Revenue (ARR) is the value of your business's subscriptions' contracted recurring revenue components normalized to one year.
Contraction Monthly Recurring Revenue (MRR) is the reduction in MRR caused by downgrades, discounts, or lost customers (churn).
Customer Retention Rate (CRR) is a metric that measures the percentage of customers a business retains over a specific period. It offers insights into customer loyalty, satisfaction, and the overall success of customer service and product offerings. CRR is calculated by taking the number of customers at the end of a period (minus any new customers acquired during that period) and dividing it by the number of customers at the start of the period, then multiplying by 100. For instance, if a business starts the month with 100 customers, gains 20 new ones, and ends with 110 customers, the CRR would be 90%.
Churn Analysis is used to identify the rate at which customers stop doing business with a company over a given period, and the reasons behind their departure. The process involves analyzing data from various sources, such as customer usage patterns, interaction history, and feedback, to identify common characteristics and trends among churned customers. The goal of churn analysis is not only to understand what percentage of customers are leaving but also to identify potential churn triggers.
Personalization refers to the process of tailoring products or services to meet the individual needs and preferences of each customer. It involves analyzing customer data such as demographics, purchase history, and online behavior to create a customized experience that makes them feel valued and understood.
The Product Adoption Curve refers to a model that illustrates the rate at which a new product or technology is adopted by consumers over time. It shows the different stages of adoption, ranging from innovators to laggards. The curve is divided into five stages: innovators, early adopters, early majority, late majority, and laggards.
Product iteration refers to the process of continuously refining a product to improve its features, functionality, and usability. It involves making small changes to the product based on user feedback, testing, and data analysis. The goal is to create a better version of the product that meets the needs and expectations of the target audience.
Revenue Operations (RevOps) is a business strategy that aims to align the sales, marketing, and customer success teams with the goal of maximizing revenue growth. It involves breaking down departmental silos and creating a unified approach to revenue generation. RevOps focuses on data-driven decision making, process optimization, and technology implementation to improve customer acquisition, retention, and expansion. The RevOps team is responsible for creating a seamless customer experience by streamlining workflows, removing bottlenecks, and ensuring that all customer touchpoints are optimized for revenue growth. Examples of RevOps technology include customer relationship management (CRM) platforms, marketing automation tools, and analytics software. RevOps has become increasingly popular in the software and technology industries, where recurring revenue models are prevalent.
Time to Value (TTV) is a metric that measures the length of time it takes for customers to experience the full value of a product or service. It is a critical factor for businesses that want to reduce the time between the initial purchase and customer satisfaction.
Tooltips are small, interactive overlays that provide additional information or context about specific elements within a user interface. Tooltips typically appear when a user hovers over an element with their mouse or clicks on it, and may include text, images, or multimedia content. Tooltips are designed to help users understand how to use a product or service, or to provide additional information that is relevant to their workflow.
Usability testing is a process of evaluating a product or service by testing it with representative users. The goal is to identify any usability issues, improve the user experience, and ensure that the product or service meets the needs of its target audience. Usability tests can be conducted on anything from websites and software applications to physical products and services.
User churn refers to the rate at which customers or users stop using a product or service. It is a critical metric for businesses to track, as high user churn can indicate a problem with the product, service, or customer experience. A company with high user churn may struggle to retain customers and grow their business over time.
Churn Rate is a business metric that calculates the number of customers who leave a product over a given period of time divided by the remaining number of customers. It is a significant indicator of the rate at which your company loses its customers or subscribers. Churn rate provides a clear snapshot of customer attrition, providing companies with the opportunity to understand the scale of customer loss, the probable causes, and devise appropriate strategies to enhance customer retention.
User cohorts refer to groups of users who share similar characteristics or behaviors within a software product or service. Cohort Analysis involves analyzing user behavior and performance data to identify patterns and trends over time, such as user retention rates, conversion rates, or revenue per user. By grouping users into cohorts, businesses can better understand how different segments of their user base are using their product or service and identify areas for improvement or growth.
Cohort Analysis is an analytical method that segments customers into related groups, or 'cohorts', that share common characteristics or experiences within a defined time-span. These cohorts could be based on when customers made their first purchase, the type of product they bought, their geographical location, and more. The goal of cohort analysis is to track the behavior and performance of these cohorts over time. This can provide invaluable insights into the customer lifecycle, customer retention, and the effectiveness of marketing campaigns, among other things.
User engagement refers to the level of interaction and involvement that users have with a website, application or any digital product. It measures the extent of user participation, including the time spent on a website, the number of pages visited, the frequency of visits, and the actions taken. Effective user engagement helps to build a strong relationship between the user and the product or brand. It can be achieved through various strategies such as personalized content, interactive features, social media integration, and feedback mechanisms.
The user growth rate is a metric that measures the percentage increase or decrease in the number of active users over a specific period. This metric is essential for businesses to understand how their customer base is growing and whether they are achieving their growth targets.
User segmentation is a technique used in marketing to divide a larger audience into smaller groups or segments based on specific characteristics or behaviors. This allows marketers to create targeted campaigns that are more likely to resonate with the different segments.
Customer segmentation is grouping your target market into smaller groups based on the similar traits they share. Segmentation strategies can range in complexity of factors including, demographic, geographic, psychographic, technographic, behavioral, needs-based, value-based, etc.
User testing is a process of evaluating a product or service by testing it with real users to gather feedback and improve its usability. It is a critical step in the user-centered design process, which involves understanding the needs and behaviors of the end-users. User testing involves observing and analyzing user interactions with a product or service to identify usability issues, user pain points, and areas for improvement. By conducting user testing, companies can ensure that their products and services meet the needs of their target audience and deliver the best user experience. Examples of user testing methods include usability testing, A/B testing, focus groups, and surveys.
Weekly-active users (WAU) refers to the number of unique users who engage with a product or service at least once a week. In simpler terms, it's the number of people who use an app, website, or platform at least once every seven days. For businesses, tracking WAU is an important metric because it helps them understand the popularity and overall health of their product. If the number of WAUs is consistently increasing, it's a good sign that the product is resonating with users and keeping their interest. On the other hand, if WAUs are decreasing, it could mean that users are losing interest or that the product needs improvement. WAU is an important metric for companies across various industries, including social media, gaming, e-commerce, and more. It's also a useful tool for measuring the impact of marketing campaigns or new feature releases on user engagement.
Updated about 2 months ago