#What is an A/B test?

Sending two versions of an email (for example two subject lines) to small parts of your list, then sending the version that got more opens or clicks to everyone else.

#What is an abandoned cart?

An online checkout a shopper started but didn't finish. An abandoned-cart email reminds them, often with the items shown, and recovers some of those sales.

#What is accounts payable?

Money your business owes to suppliers and others for bills you haven't paid yet ("what you owe").

#What is accounts receivable?

Money customers owe your business for invoices they haven't paid yet ("who owes you").

#What is email automation?

A series of messages that sends itself when something happens, such as a welcome email when someone joins your list or a reminder when a cart is abandoned.

#What is a BIMI record?

Brand Indicators for Message Identification: a DNS record that lets Gmail, Yahoo and Apple Mail show your logo next to your emails once your domain has an enforced DMARC policy (and, for Gmail, a VMC or CMC certificate).

#What is bounce rate?

The share of emails that couldn't be delivered. Hard bounces (address doesn't exist) should be removed straight away; keep them under 2%.

#What is bulk SMS?

Sending the same text message to many phone numbers at once, usually through an SMS provider and a Sender ID, and billed per page.

#What is cash flow?

The money moving into and out of your business over a period. A profitable business can still run out of cash if customers pay late.

#What is a cashbook?

A record of every amount of money received and paid out, with dates and categories, for each bank account, cash box or POS.

#What is click rate?

The share of delivered emails in which someone clicked at least one link. It's a more reliable signal of interest than the open rate.

#What is cost of sales?

What it directly costs to make or buy what you sold: stock, materials, ingredients and packaging. Sales minus cost of sales is gross profit.

#What is a credit note?

A document that reduces or cancels an invoice you've already issued, for example after a return, overcharge or discount. It keeps your records honest instead of editing or deleting the invoice.

#What is deliverability?

How reliably your emails reach the inbox rather than spam or nowhere at all. It depends on authentication, list quality, complaints and content.

#What is a DKIM record?

DomainKeys Identified Mail: a digital signature added to each email, checked against a public key in your DNS, that proves the email came from your domain and wasn't changed.

#What is a DMARC record?

A DNS record that tells inbox providers what to do with email that fails SPF and DKIM checks for your domain (nothing, quarantine to spam, or reject) and where to send reports.

#What is DND (Do Not Disturb) in Nigeria?

The NCC's Do-Not-Disturb service in Nigeria. Numbers on DND don't receive promotional SMS; transactional messages sent on the proper route still reach them.

#What is double opt-in?

Asking new subscribers to confirm their address by clicking a link in an email before they join your list. It keeps out typos and fake signups.

#What is gross margin?

Gross profit as a percentage of sales: (sales − cost of sales) ÷ sales × 100.

#What is GSM-7?

The basic SMS alphabet. Messages using only GSM-7 characters fit 160 characters in one page; any other character switches the whole message to Unicode.

#What is a hard bounce?

A permanent delivery failure, usually because the email address doesn't exist. Hard-bounced addresses should never be emailed again.

#What is an inbox placement test?

Sending an email to test inboxes at providers like Gmail, Yahoo and Outlook to see whether it lands in the inbox, a tab like Promotions, or spam.

#What is an invoice?

A document asking a customer to pay for goods or services, showing what was supplied, the amount, any tax, the due date and how to pay.

#What is list cleaning?

Removing addresses that are invalid, mistyped, bouncing, unsubscribed or inactive from your email list before you send.

#What is margin?

Profit as a percentage of the selling price. A ₦10,000 sale with ₦2,000 profit has a 20% margin.

#What is markup?

Profit as a percentage of the cost. An item costing ₦8,000 sold for ₦10,000 has a 25% markup.

#What is a merge tag?

A placeholder such as {first_name} that's replaced with each contact's own details when an email is sent.

#What is the NDPA?

The Nigeria Data Protection Act 2023, which sets rules for collecting and using personal data, including getting consent for marketing and letting people opt out.

#What is one-click unsubscribe?

A header in marketing emails that lets people unsubscribe with one tap from their inbox. Gmail and Yahoo have required it for bulk senders since 2024.

#What is open rate?

The share of delivered emails that were opened. Some apps pre-load images, which can inflate opens, so treat it as a guide.

#What is opt-in?

Permission a person gives to receive your messages, for example by ticking a box on a signup form. Email, SMS and WhatsApp consent should be recorded separately.

#What is a pro forma invoice?

A preliminary invoice or quote sent before goods or services are supplied, so the customer knows the cost. It isn't a demand for payment.

#What is a profit and loss (P&L) report?

A report of income minus costs for a period, showing whether the business made or lost money.

#What is a quote?

A document telling a customer what a job or order will cost before they commit. Once accepted, it becomes an invoice.

#What is a receipt?

A document confirming that payment was received, showing the amount, date, method and what it was for.

#What is reconciliation?

Checking your records against your bank statement so every transaction matches and the balances agree.

#What is a segment?

A group of contacts defined by rules, such as "bought in the last 90 days" or "opened but didn't click", that updates itself as contacts change.

#What is a Sender ID?

The name shown as the sender of an SMS (up to 11 characters, like your business name) instead of a phone number. It has to be approved before use.

#What is an SMS page?

The billing unit for SMS: 160 GSM-7 characters or 70 Unicode characters for one page, 153 or 67 per page when a message is split.

#What is spam complaint rate?

The share of recipients who mark your email as spam. Gmail and Yahoo require bulk senders to stay under 0.3%; under 0.1% is healthy.

#What is an SPF record?

Sender Policy Framework: a DNS TXT record listing the servers allowed to send email for your domain.

#What is a TIN?

Tax Identification Number: the number that identifies a business or person for tax in Nigeria. Businesses show it on invoices, especially when charging VAT or billing companies.

#What is transactional email?

A one-to-one email triggered by something a customer did, such as a receipt, invoice or password reset, rather than a marketing campaign.

#What is a Unicode SMS?

An SMS containing characters outside GSM-7 (emojis, ₦, curly quotes, many accents). It fits only 70 characters per page, or 67 when split.

#What is VAT?

Value Added Tax, charged on most goods and services in Nigeria at 7.5% since February 2020 and shown as its own line on invoices.

#What is warm-up?

Increasing sending volume gradually on a new account or domain so inbox providers learn to trust it.

#What is the WhatsApp Business Platform?

Meta's official way for businesses to message customers on WhatsApp at scale (often called the WhatsApp Business API), using approved templates outside the 24-hour customer service window.

Glossary of marketing, invoicing and bookkeeping terms

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