CUSTOMER ACQUISITION

Customer Acquisition focuses on bringing in new leads and generating new business for an enterprise’s products and services.

Customer Acquisition Management is a set of methodologies for managing prospective customers or inquiries that are generated through marketing and advertising strategies, such as social media marketing, content marketing, email marketing, affiliate marketing, etc.

Customer Lifetime Value or CLV is the net revenue generated through a particular customer during their lifetime. It is an important parameter for consideration during Customer Acquisition and Customer Management. It provides directions for decision making to put in your acquisition and marketing efforts. Customers with high CLV are expensive to acquire; however, they bring in high revenue and referrals than most others.

Customer Acquisition is more about acquiring customers that stay lifelong or for a long duration of time. The old model of Marketing-Lead-Sales-Customers tends to dissociate from a customer after the acquisition. Even while bringing in new customers is important, the ones on-board are more important. When you follow the flywheel model of Attract-Engage-Delight and enable the customers to succeed, your customers work on your behalf and act as promoters for your brand bringing in more referrals. So by centring your efforts around your existing customers through the flywheel of Marketing-Sales-Service opens new customer relationships. Your business succeeds when your customers succeed.