ngdata.com – Put simply, customer acquisition is about gaining new consumers. Acquiring new customers involves persuading consumers to purchase a company’s products and/or services.
The cost of customer acquisition is considered by companies an important measure in evaluating how much value customers bring to their businesses. Customer acquisition management refers to the set of methodologies and systems for managing customer prospects and inquiries that are generated by a variety of marketing techniques.
Some successful customer acquisition strategies include customer referrals, customer loyalty programs, and the like. One way to think about customer acquisition management is to consider it the link between advertising and customer relationship management, as it is the critical connection that enables the acquisition of targeted customers in an effective manner.
Read more about customer acquisition costs at ngdata.com