API

API stands for Application Programming Interface and acts as a messenger that takes your request and tells the system what you want to do and then returns the response.

API call (API request)

An API call is a request sent by a customer application to an API – the result of an API call can be getting information, creating resources, as well as updating or deleting them.

Affiliate marketing

Affiliate marketing is a business arrangement in which companies pay commission or offer rewards to affiliates in return for customers, leads or marketing opportunities.

Approval workflow

An approval workflow is a set of logical steps that have to be followed by particular people to get the action performed (approved).

Automatic discount

An automatic discount (also known as a cart promotion or auto-applied promotion) is a type of sales promotion that does not require a promo code to be applied at the checkout to work.

BOGO

BOGO ("Buy one, get one free") is a type of product bundle promotion that grants a second product of the same type or SKU free of charge with the purchase of the first one.

Bounce rate

Bounce rate is defined as the number of web page visitors that leave it without taking any action.

Case-sensitive codes

Case-sensitive codes mean that the code validation process will differentiate between lowercase, uppercase, or mixed codes.

Cashback

A cashback discount is a promotion type that gives a part of the purchase price back to customers, usually directly to their store card, gift card, or credit card that was used to make the payment.

Churn Rate

A Churn Rate is a rate calculated as a percentage of customers that stopped using a product or have canceled or resigned from extending the subscription of a product or service.

Click To Open Rate (CTOR)

Click-to-open-rate (CTOR) is a metric that indicates how many email recipients that opened the mail clicked on the attached links.

Composability

Composability is the ability to build and reconfigure digital experiences using modular, interoperable components.

Composable loyalty

Composable loyalty is a modular approach to building and managing loyalty programs, where every part of the experience is powered by flexible, interchangeable components.

Computer cluster

A computer cluster is a set of computers (machines) that work together as a single system.

Conversion event

In Voucherify, a conversion event is a trigger that makes a referral successful. The conversion event is defined in the referral program builder and may take two forms.

Coupon (voucher)

A coupon code is a single code that represents a discount. Each coupon code carries various attributes, for example, a discount type and value, activity period, code pattern, redemption limit, status, or a corresponding barcode or QR code.

Coupon pattern

A coupon pattern is a definition of a pattern the coupon should follow. This can be a prefix, postfix, or simply the number and charset of the characters that can be used in a coupon.

Custom event

A custom event is an action (behavior) taken by customers that is not tracked by default by promotion management software.

Customer cockpit

A customer cockpit is an individual space for each customer that presents selected account details, such as loyalty score, available rewards, and other incentives.

Customer segmentation

Customer segmentation is a process of dividing a customer base into smaller groups (segments) with shared characteristics.

Dashboard

In Voucherify, a dashboard is the central point of promotional activities that allows users to access key software functions via a user-friendly web-based interface.

Delay discounting

Delay discounting is a marketing strategy that relies on granting customers a fixed discount redeemable on their next purchase.

Discount effect

In Voucherify, a discount effect is a term that defines how a discount will be applied to the customer's cart.

Distribution

In Voucherify, distribution is the act of sending promo messages that include unique codes (coupons, gift cards, loyalty cards, referral codes), inform customers about new promo campaigns, or carry other content.

Double opt-In

Double opt-in means the customers have to opt-in twice to subscribe to your mailing list. It is a requirement set in GDPR, for example.

Earning rule

Earning rule in the loyalty program context defines an action (event) that assigns a particular number of loyalty points to a customer.

Flash sale

A flash sale is a short time frame sale, for example lasting only one hour or 24 hours. Flash sales usually offer higher discounts than regular sales at a particular brand.

Gamification

Gamification is the strategic attempt to enhance systems, services, organizations, and activities to create similar experiences to those experienced when playing games to motivate and engage users.

Geofencing

Geofencing is the use of GPS or RFID technology to create a virtual geographic boundary, enabling software to trigger a response when a mobile device enters or leaves a particular area.

Gift card

A gift card is a prepaid debit card that contains a specific amount of money available for use for a variety of purchases.

Giveaway (sweepstakes)

A giveaway (sweepstakes) is a type of contest where prizes are given to the selected winners.

Granularity

Granularity is the number of detail used in data collection, segmentation, and categorization. More details equal better granularity.

Headless software

In software development, ‘headless’ describes an architecture that separates the frontend (presentation layer) from the backend (the technical support responsible for the functioning of the system).

Incentive

An incentive is a physical or non-physical item that is supposed to reward a customer for a certain action and/or motivate a customer to perform a certain action. It can be, for example, a discount code, a gift card, loyalty points, physical products, or free shipping.

Integration

IT system integration is a combination of at least two software elements into a single system to ensure the proper flow of data between them.

Landing page

A landing page is a standalone web page where visitors land after clicking on a marketing campaign or an organic search result. A landing page should have a single goal and a CTA directing users to perform a specific action.

Logs

In software development, logs are chronological records of events and activities related to the specific IT system. Logs are created automatically via a process called logging.

Loyalty breakage

Loyalty breakage is the difference between the loyalty points earned by customers and the points redeemed for rewards or benefits.

Loyalty card

Loyalty card system works by providing customers with a loyalty card or program that allows them to earn points, rewards, or discounts on their purchases.

Loyalty points

Loyalty points are a type of currency that a business offers within a loyalty program.

Loyalty points multiplier

The loyalty points multiplier is the multiplier used to calculate how many loyalty points customers get for their purchases or other actions.

Loyalty program

A loyalty program allows customers to earn points for specific activities (such as purchases), and exchange them for rewards.

Loyalty tier

Loyalty program tiers are levels of a loyalty program that offer different rewards to members. Tiers can be defined by various eligibility criteria, the most common being the number of points collected or the amount spent with the company within the last calendar year.

Metadata (custom attributes)

Metadata is a custom, additional data added to data objects (data about data) to create attributes not available by default.

Monolithic architecture

Monolithic architecture is a model of a software program built as an independent unit, unified and separated from other applications.

Net Promoter Score (NPS)

Net Promoter Score (NPS) is a simple metric that helps companies and other customer-based organizations to measure the overall satisfaction of their service, by asking customers how likely they are to recommend the product or service to others.

Omnichannel

Omnichannel communication or commerce is a strategy where various channels are used to communicate with customers, allow them to purchase products, use promotions, or perform other actions in a unified way across touchpoints and devices.

Online marketplace

Online marketplaces are platforms, where vendors can add their products and sell them using a marketplace interface, layout, marketing tools and other features provided by the marketplace creators.

POS

POS (point of sale) refers to the time and location of the purchase or the in-store digital devices used to process and record payments, such as PCs or tablets. It may also refer to the brick-and-mortar store where transactions take place.

Pending loyalty points

Pending points are loyalty points earned by a customer that remain temporarily unavailable for use until a defined waiting period or condition, such as order confirmation or fraud checks, is met.

Price anchoring

Price anchoring is a psychological promotion strategy where a product at a higher price is set against the lower-cost option.

Product bundling

In marketing, product bundling is the act of combining at least two separate products together and selling them as a single product, usually at a lower price.

Product collection

In Voucherify, a product collection defines a group of products with shared characteristics that can be used in validation rules to target campaigns.

Promo campaign

A sales promotion campaign (or a promotion) is a type of marketing campaign that supports marketing or sales goals and gives an incentive to customers to meet these objectives.

Promotion stacking

Promotion stacking (also called promotion combining or mixing) is the possibility to combine different incentives (promo codes, auto-applied discounts, gift cards, referral codes, and loyalty codes) in a single transaction.

Promotion tier

A promotion tier (level) is a separate level within a cart promotion that usually offers a higher discount for meeting a higher campaign condition, most typically a larger order amount.

Publication

In Voucherify, the publication is the process of assigning a promo code (discount code, gift card, loyalty card, referral code) to a particular customer.

Rate limiting

Rate limiting is a strategy for limiting network traffic. It puts a cap on how often someone can repeat an action within a certain timeframe – for instance, calling an API – limiting and queuing requests and calls.

Redemption

Incentive redemption is an action triggered when the customer uses their incentive on their purchase order. The redemption may be successful or failed and contains the incentive validation.

Redemption rollback

Redemption rollback is the undoing of redemption. It withdraws the incentive or reward from the customer’s order and updates its status.

Referral code

A referral code is a sequence of characters identifying referral program participants. Referral codes track the referral activities, making it possible for referrers to claim prizes.

Referral link

A referral link is a URL provided by the company that runs a referral program. Each referral link should be associated with a single referral program participant.

Referral program

A referral program is a scheme in which you incentivize customers to spread the word about your business to their friends and family. Referral programs can be single-sided (rewarding only the referrer) or double-sided (rewarding both the referrer and the referred friend).

Referral rate

Referral rate shows how much of your total purchases came from your referral campaign recommendations.

Referral tier

Referral programs can have tiers (levels) based on the number of successfully referred friends. The tiers differ in the incentives granted to the referrers (advocates) and conditions.

SDK

SDK stands for the software development kit. SDKs are used in software development to quickly develop applications.

SKU

SKU (stock keeping unit) is a unique sequence of alphanumeric characters that identifies and tracks inventory units (products).

SaaS

SaaS, Software as a Service, is a type of company that licenses its software as a product on a subscription basis. The software is centrally hosted by the company licensing and delivering it to the customers.

Sandbox environment

API sandbox is an environment that developers can use to mimic the production environment and create simulated responses from all APIs the application relies on.

Scalability

Scalability is the ability of tools, organizations, or any system to meet a company's expectations during rapid growth.

Standalone code

A standalone code (known also as a public code) is a single discount code, usually publicly available.

Store credit

Store credit is a type of refund offered by stores to customers who return an item not eligible for a cash refund that allows them to purchase something in that store up to the value of a returned product or service.

Unique coupon code

A unique promo code (also referred to as bulk code) is a single promo code generated as a part of a larger promo campaign.

User role

In software applications, a user role defines the rights and restrictions for specific user accounts or groups of accounts.

Validation

Incentive validation is the process of verifying whether the customer’s cart can have the incentive applied to it. It is done automatically, based on the pre-set validation rules (limits).

Validation rules

In Voucherify, validation rules define promotion usage restrictions, in other words, the customer and order eligibility for a given promotion. They are often called “promotion limits” or “promotion rules”. They can be based on, for example, customer segments, products, orders, budget, or metadata.

Webhook

Webhooks are custom HTTP callbacks that notify you about certain events, such as successful incentive or reward redemption.

White label

White labeling is a process of removing the original branding and logo from a product or service and using a new branding and logo requested by the user.

Word of Mouth (WOM) Marketing

Word-of-mouth marketing includes various marketing activities when the information about a product or service reaches the recipient through a direct, spontaneous verbal message.

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