EBSCO Information Services Information Technology

Most if not all companies and organizations seek to establish themselves in social media platforms such as Facebook, Twitter, and Instagram in addition to their official website. Online and social media performance tracking is meant to analyze the effectiveness of a company’s social media presence. Are they generating new leads? Are they promoting brand awareness? These questions are important to assess the efficiency of the use of these social media platforms.

An online recommendation engine is software that analyzes available user data to generate suggestions for something the user may also be interested in. Such engines are used in an advertising capacity to promote products or services or for the purpose of recommending similar content to the content the user has consumed in the past, such as in streaming services and online shopping services.

Price optimization is the mathematical analysis by a company determines the response of potential buyers to different prices for its products and services. The aim is to meet a company’s objectives of maximizing profits and growing and retaining a customer base.

Remarketing campaigns show ads to people who have visited a business’s website or downloaded one of its apps. Remarketing is designed to get potential customers who have shown interest in your product or service to recall your business and their intent to buy, therefore enlarging the odds of them converting.

Targeted marketing is a marketing strategy which identifies an audience that is most likely to buy a product or service and subsequently creates a marketing campaign designed specifically to advertise said product or service to the target audience, using advertisements and promotional messages. This allows different companies to hone in on certain market segments, creating a “specialty” and possibly lowering competition with similar companies.

Any account management, customer success and support team has one key goal — to reduce and minimize churn. Churn prediction is the process of identifying segments or specific customers that are at risk of churning, i.e discontinuing their business, within a short amount of time in order to deal with the customer health issue as much in advance as possible.