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Customer Acquisition by Mind Map: Customer Acquisition
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Customer Acquisition

Customer acquisition management is a term used to describe the methodologies and systems to manage customer prospects and inquiries, generally generated by a variety of marketing techniques. It can be considered the connectivity between advertising and customer relationship management. This critical connectivity facilitates the acquisition of targeted customers in an effective fashion. Customer acquisition management has many similarities to lead management. Sometimes missing from lead management definitions, but always included in customer acquisition management, is a closed-loop reporting system. Such a reporting system typically allows the organization to quantify the effectiveness of results of various promotional activities. This allows organizations to realize continuous improvements in both promotional activities and customer acquisition systems. Customer acquisition management also often includes the original response to a prospect immediately after their inquiry. This...

Customer Retention

Secrets of customer retention

Fundamentals of customer retention

Customer satisfaction

Benefits

4 important guidelines

Offer Products or services that solves problems

Offer products or services which is easy to understand

Use effective Promotion techniques

Develop credibility (Good/Positive testimonials)

Customer Acquisition strategy

Small Business

Large Business

Process

Understanding customer perception

Customer engagement

Customer dynamics

Sales team

Marketing metrics

Market targeting

Establish Rapport

steps depends upon

Type of busines

Advertising & Operating budget

Region of operation

Intended audience

Various timings & implementation

Two important steps

Examination of Business

Having a business plan

Defining goals for acquiring & retaining customers

Research different advertising options

Definition : Identify processes and procedures to locate/quality & Ultimately secure the business of new customers

Factors that drive customer acquisition

Technological advancement

Govt. Policy

Life style changes

Purchasing frequency (the more, the higher chance of shift)

Innovation in Industry