EXAM

Is the following statement true or false?

Mobile Commerce is the use of wireless electronic mobile devices such as cellphones, smartphones and tablets to buy and sell products and services online, as opposed to using the standard computer or laptop.

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Affiliate Marketing is a marketing strategy in which your ecommerce business partners with other ecommerce stores to assist in promoting each others’ sales.

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A Listing Fee is a fee that some online auction websites charge sellers to list products or services.

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If the Bounce Rate percentage is low for a single page, you may wish to consider redoing or re-editing this specific page to avoid high bounce rates.

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The SKU can sometimes double up as a Vendor SKU Code.

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SEO is a strategy, process and tactic to improve an online store’s website content to make it easier for search engine bots to index the site and to drive up its search ranking.

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Typically, the affiliate receives a fee for every website visitor or sale generated from the promotion.

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A Listing Fee is normally charged against the seller’s credit card.

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Cart Abandonment Rate is an online shopping metric that shows the rate of potential customers who leave a site before completing their purchases compared to all the shopping carts created.

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The SKU can sometimes double up as a Model Number.

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301 Redirect is a way to let search engines and site visitors know that a webpage moved to a new address.

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A Shopping Cart is a virtual representation of a catalog that a customer can peruse online.

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When a seller offers additional products that complement, enhance, or relate to a product being sold, this is known as up-selling.

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Profit Margin is the difference between what a retailer pays for or spends to create a product and how much it earns on each sale of the product.

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The Cart Abandonment Rate is calculated in two steps: Step 1: [Completed Purchases] /[ Shop Carts Created x 100] = Percentage of Successful Transactions and Step 2: [100] – [Completed Purchases] = Cart Abandonment Rate

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B2B refers to online transactions in which an online business sells products or services to brick-and-mortar stores.

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Last interaction model refers to the last webpage that the customer visited.

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Turnkey systems include all the hardware and software necessary for the particular application.

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A Discount Code, Coupon Code or Promo Code is a discount rate against the seller’s account.

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Profit Margin is calculated by Product Sales Price minus Cost of Goods Sold.

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Cart-To-Detail Rate is a Google Analytics metric that looks at products added to a customer’s cart relative to views of product detail pages.

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B2B is usually when the Retailer sells to a Manufacturer but can also have Retailers selling to other Retailers.

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Last nondirect click model means that all direct traffic is included in this model, which credits 100% of the conversion to whatever interaction the customer had before making a purchase.

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The term Turnkey derives from the idea that the end user can just turn a key and the system is ready to go.

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A Discount rate is the fee that an online merchant pays to its third-party payment processor for processing credit card payments.

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A Merchant Account Provider is the owner of an online store.

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The Cart-to-Detail Rate is calculated by dividing the Times a Products is Added to a Cart by the Product Detail Page Views.

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Business to Consumer or B2C refers to online transactions between a merchant and a consumer.

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Last AdWords click model refers to the last AdWords ad that the customer interacted with before buying receives 100% of the credit for the conversion.

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Web Analytics are a set of data collectors used to track orders online through your website.

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A Discount rate is typically a small percentage of each payment processed.

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Payment Card Industry Compliance or PCI is a set of requirements to ensure you protect your customers’ credit card information when stored, processed, or transmitted.

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A Cohort Analysis is an analysis of customer behaviors during a specified time frame, of a subset of your ecommerce customers that have been segmented from all your visitors based on shared characteristics.

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B2C is generally the most common type of business model when it comes to eCommerce stores, that is, Joe Soap on the street buys from a seller or merchant selling a specific product.

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First interaction model refers to the first webpage that the customer visited.

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A/B split testing is a simple process that lets you compare two versions of a webpage so you can determine the most effective strategy.

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Upselling is a technique to offer customers an opportunity to upgrade a purchase or to buy a more expensive version of a product to maximize the value of the purchase for the seller.

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A Payment Service Provider is an eCommerce service that lets online stores accept and process multiple payment methods, such as credit cards, direct debits, bank transfers and real-time online banking.

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A Conversion Funnel is a Google Analytics metric that details the pages that your customers visit.

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Drop shipping is the process of an online store shipping their product orders direct to a wholesaler.

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Linear model refers to every second channel that the customer interacted with before converting receives an equal share of the conversion credit.

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You show Version A and Version B to groups of would-be customers during the same time frame to learn which approach nets the higher conversion rate.

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The Address Verification Service or AVS is a service that credit card processors implement to verify that the customers own that particular credit card.

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A Recurring Payment is a transaction wherein a customer authorizes an online store to automatically charge a credit card for regular delivery of products or services.

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It’s called a funnel because a percentage of visitors join your website at each event along the journey.

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Drop Shipping is when the retailer ships the product directly to the online store.

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Time decay model gives most of the credit to the channels the customer interacted with in the time nearest to the sale.

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The Assisted Conversions Report is a Google Analytics report which summarizes and ranks the importance of customers according to sales.

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An Authorization is the process when you approve of a credit card transaction on your website.

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A Third-Party Payment Processor is a Payment Gateway Company who manages the checkout software of an online store.

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At conversion of the Conversion Funnel, there are fewer potential customers than there were at the start.

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Fulfillment is the receipt, processing, packaging and shipping of orders made through your online store.

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Position-based model attributes 40% of the conversion credit to the first interaction, 40% to the last interaction, and the remaining 20% equally across any interactions that occurred between the first and last interactions.

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The Assisted Conversions Report helps you identify which customers are purchasing the most off of your website.

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An Authorization can be in the way of a One Time Pin (OTP) or a notification via a mobile application from the bank or payment software.

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The Average Order Value is the typical amount that your customer spends when visiting your digital storefront.

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Customer Lifetime Value or CLV is the predicted revenue that a customer can generate for your business during all their interactions with your online store.

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Examples of Outsourcing can include warehousing of your products by another company, or shipping of your products by another company, or even packaging of your products for shipment by another company.

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Cookies are small text files a website sends to a visitor’s browser to store data related to that visitor’s interactions with the website.

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Call to action (or CTA) is an advertising and marketing tactic that involves pop-up windows with more information for customers to read in order to assist them with their purchase online.

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The Billing Address is the address used on a customer’s credit card statement.

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The Average Order Value is calculated by dividing Sales Revenue by Number of Orders Taken.

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Google Analytics measures Road Length to summarize how long, in interactions, it takes visitors to your eCommerce site to become customers.

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Shipping is the transfer of a product from a seller’s warehouse to a customer’s delivery address via an airplane or cargo fleet of ships.

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Cookies are mainly used for saving a customers web history.

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A conversion is when you transform an online store visitor into a paying customer.

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The Billing Address can sometimes be the same as a Delivery or Shipping Address but is normally a postal address as opposed to a physical address more commonly used for deliveries.

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Average Time on Site is the typical amount of time your visitor spends on your website overall.

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Google Analytics measures Time Lag to summarize how long, in days, it takes your website visitors to become customers.

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A transaction is simply a record of the actions taken for each order.

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Keyword stuffing is an SEO technique that overloads a webpage with as many keywords as possible, often without context, to manipulate a site’s search engine ranking.

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An example of a conversion rate is, after clicking through to your landing page, they click the “add to cart” or “Buy now” button and continue through the checkout and payment pages until their purchase is completed, i.e. you have converted a customer from a visitor to a purchaser.

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A Chargeback is a penalty fee against a seller’s account for a wrongdoing on their side.

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The Average Time on Site will not be the overall time that a visitor spends on your website so a single visitor could have multiple visits with multiple average times on site.

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Bundling is the grouping of related products or services as a package or solution, often offered at a reduced price, to encourage conversion.

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Keyword Stuffing is typically much less effective in generating revenue than to focus on writing for your audience.

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Conversion rate looks at the percentage of online store visitors who become paying customers.

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A Chargeback can sometimes also apply to a fee charged against the seller’s credit card.

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Buy-to-Detail Rate is a Google Analytics metric that looks at the number of products purchased relative to the number of times the customer viewed product detail pages.

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Inventory is a retailer’s or eCommerce store’s products on hand, waiting to be sold.

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A landing page is the home page of a website.

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Conversion Rates are calculated by dividing the Unique Visitors to Your Site by the Paying Customers.

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A Gateway or Payment Gateway is an ecommerce service provider that communicates with your merchant account provider to authorize and process credit card payments.

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The Buy-to-Detail Rate is calculated by dividing the Unique Purchases of a Product by the Product Detail Page Views.

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SKUs are your in-stock product items that you have listed on your eCommerce store as sellable units.

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Landing pages can exist to prompt a visitor to complete a call to action, such as signing up as an email subscriber or becoming a member of a special customer group.

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Conversion Rate Optimization or CRO is a marketing effort to drive conversions by advertising more.

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Every eCommerce store should ideally have a Gateway or Payment Gateway so that customers can pay upon check out using their credit card, debit card or PayPal account, et cetera.

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The Bounce Rate is the percentage of visits to a website where visitors move from one page to the next on that same website.

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The Stock Keeping Unit or SKU is a unique alphanumeric identification code for each product or service in your business’s inventory.