Refers to the action a prospect takes when they activate the hyperlink in copy or an ad in either email or an online ad. In cost-per-click (CPC) advertising, the advertiser pays a fee each time the prospect clicks on the link or the ad. While clicks can be an indication of interest in an ad, they do not necessarily result in a sale.
The rate at which customers cancel their subscriptions to service or subscription based companies, e.g., cellular services, etc. Typically expressed as a percentage. While virtually all service/subscription based companies experience churn, the lower the churn rate the better.
Churn rates are reflective of service quality & satisfaction, brand strength, and price elasticity and are typically higher in industries where there is low differentiation and/or rapid technological advancements. Churn is also used to help compute the average value of a customer, relative to the acquisition cost.
In marketing, the acronym “PAR” can refer to any of a number of terms, including the following:
Performance Analysis & Review
Program Assessment Review
Problem Analysis Report
Product Acceptance & Research (usu Market Research)
A mathematical method of forecasting using line equations to explain the relationships between multiple causes and effects.
The sum of all items divided by the number of items.
The mean is calculated by dividing the sum by 'n' where n is the sample size. It is often used in statistics as interchangeable with average.’
The advantage to utilizing the mean is that it can be calculated for any set of numerical data, it is always unique, and it takes into account each individual item.
However, interpret the means with caution: a single extreme item can cause the mean to provide a result that is not typical or representative of the data. Consider calculating the weighted mean in addition to the mean to ensure your interpretation of the data is correct.
A bell-shaped probability distribution of all possible outcomes.
The graph of all possible outcomes with their respective possibilities of occuring.
A distribution, also referred to as a 'frequency distribution', is a descriptive statistical application that is a way of displaying large sets of data to provide an accurate picture. It shows the number of occurrences of a type of data among various classes to present raw data in a more usable form. Distributions should have no fewer than 6 and no more than 15 classes. Classes should be selected that will accommodate all the data and each item should be able to go into only one class. The classes should be of as equal length as possible.