Customer Experience Definitions

  • L

    law of diminishing returns

    The law of diminishing returns is an economic principle that states that as investment in a single goal increases, while all other variables remain constant, the return on investment will eventually decline.

  • lead nurturing

    Lead nurturing is a set of integrated marketing strategies designed to turn a potential customer into a buyer.

  • lead scoring

    In the B2B industry, lead scoring is a methodology used by sales and marketing departments to determine the worthiness of leads, or potential customers, by attaching values to them based on their behavior relating to their interest in products or services.

  • lead-to-revenue management (L2RM)

    Lead-to-revenue management (L2RM) is a collection of sales and marketing processes that aims to maximize the income gained from each stage of the customer journey.

  • leaderboard

    A leaderboard is a popular type of banner advertisement.

  • Learn IT: How Spam Affects Email Marketing Campaigns

    1. What's the difference between spam and legitimate email marketing? Spam is unsolicited bulk email (UBE).

  • level of support (support level)

    Level of support indicates a specific extent of technical assistance in the total range of assistance that is provided by an information technology product (such as a software product) to its customers.

  • lifestyle center

    A lifestyle center is a shopping center, or mixed-use commercial development that combines retail with other services, such as medical services, home rental units, movie theaters and other leisure or other activities.

  • live chat (live support)

    Live chat (live support) provides the means to engage with users, as they’re actively visiting an organization’s owned media properties. Live chat is also used by existing customers, who can present questions that need answers or issues that need resolution.

  • LivePerson

    LivePerson is a software as a service (SaaS) provider that develops customer engagement and conversational commerce applications and platforms.

  • location-based marketing (LBM)

    Location-based marketing (LMS) is a direct marketing strategy that uses a mobile device's location to alert the device's owner about an offering from a near-by business. 

  • longest delay in queue (LDQ)

    Longest delay in queue (LDQ) is the longest time period that a customer in a queue waits before either connecting with an agent or hanging up.

  • loyalty card program

    A loyalty card program is an incentive plan that allows a retail business to gather data about its customers. The goal of a loyalty card program is to build repeat business by offering participating customers something that isn't available to non-participing customers.

  • loyalty punch card

    A loyalty punch card is a token that lets a customer earn free merchandise or discounts after a certain number of purchases.

  • M

    market basket analysis

    Market basket analysis is a data mining technique used by retailers to increase sales by better understanding customer purchasing patterns.

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