Acronyms
Sales, Marketing, and Technology Acronyms and Abbreviations. Jump to acronyms beginning with the number or letter:
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Acronyms Beginning With K
KYC
Also Know Your Client, KYC is a set of standards and procedures used by financial institutions and other regulated entities to verify the identity of their clients and assess the potential risks of doing business with them. The primary purpose of KYC is to prevent financial crimes such as money laundering, terrorist financing, and fraud. KYC procedures typically involve: Customer…
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L2RM
A business strategy that aims to optimize the entire sales and marketing process, from lead generation to revenue generation. L2RM is focused on aligning the sales and marketing teams around common goals and metrics, and creating a seamless and integrated process for generating and converting leads into revenue. L2RM typically involves a range of activities and processes, such as lead…
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Acronyms Beginning With L
LAARC
A framework used in customer service and communication to guide effective conversations with customers. Here’s a breakdown of each step: Listen: The first step is to listen actively and attentively to the customer. This involves paying attention to what they say, their tone of voice, and other nonverbal cues. Acknowledge: Once the customer has finished speaking, the next step is…
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Acronyms Beginning With L
LACS
A United States Postal Service (USPS) database that provides updated address information when a rural-style or outdated address has been converted to a city-style or standardized format. It is primarily used in support of emergency 911 services and USPS delivery efficiency, ensuring that mail is directed to the correct, modernized location. As communities upgrade from rural route numbers (e.g., RR…
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Acronyms Beginning With L
LACSLink
A secure USPS database and matching system that updates mailing addresses that have been changed due to 911 emergency system implementations, most often when rural route or P.O. Box addresses are converted to standardized street addresses for enhanced emergency response and delivery accuracy. LACSLink ensures mail is correctly routed to these updated addresses and is a key component of address…
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LAIR
A communication framework in sales and customer services where the representative: Listen: This refers to actively and attentively listening to the customer’s concern or issue, giving them your full attention, and not interrupting them while they are speaking. Acknowledge: This involves acknowledging the customer’s concern or issue, and letting them know that you understand their perspective and are taking their…
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Acronyms Beginning With L
LAL
A powerful tool used in digital advertising to reach new audiences that share similar characteristics with an existing customer base or target audience. The main purpose of a lookalike list is to expand an advertiser’s reach by finding individuals who closely resemble their current customers or most engaged users. This is achieved by analyzing the existing audience’s common traits, behaviors,…
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LaMDA
LAMDA stands for Language Model for Dialogue Applications. It is a large language model (LLM) chatbot developed by Google AI. LaMDA is trained on a massive dataset of text and code, and it can generate text, translate languages, write different kinds of creative content, and answer your questions in an informative way. LaMDA was first announced at Google I/O in…
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Acronyms Beginning With L
LAMP
A popular stack of open-source software used to build and host dynamic websites and web applications. The components of the LAMP stack are: Linux: The operating system that provides the foundation for the entire stack. Linux is known for its stability, security, and flexibility, making it a common choice for web servers. Apache: The web server software that handles requests…
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Acronyms Beginning With L
LAN
A computer network that interconnects computers within a limited area such as a residence, school, laboratory, office building, or closely positioned group of buildings. Higher communication and data transfer rates and the lack of a need for leased communication lines characterize LANs. LANs typically use wired connections with Ethernet cables to achieve high-speed data transfer between the connected devices. However,…
