Customer Acquisition

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Customer Acquisition by Mind Map: Customer Acquisition

1. 4 important guidelines

1.1. Offer Products or services that solves problems

1.2. Offer products or services which is easy to understand

1.3. Use effective Promotion techniques

1.3.1. Proper Communication mix (5 essential aspects) Sales promotion Personal selling Direct marketing efforts General advertising Public relations

1.3.2. Integrated marketing communication Goal Short Term Long Term Target audiences What is the main message

1.4. Develop credibility (Good/Positive testimonials)

2. steps depends upon

2.1. Type of busines

2.2. Advertising & Operating budget

2.3. Region of operation

2.4. Intended audience

2.5. Various timings & implementation

3. Two important steps

3.1. Examination of Business

3.2. Having a business plan

3.3. Defining goals for acquiring & retaining customers

3.4. Research different advertising options

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

5. Customer Retention

5.1. Secrets of customer retention

5.1.1. Customer service

5.1.2. Effective PR campaign

5.1.3. Incentive/loyalty programs

5.1.4. Communication

5.2. Fundamentals of customer retention

5.2.1. Quality products @ affordable prices

5.2.2. Maintain customer relationship

5.2.3. Motivate customer to feel personally invested

5.2.4. Open dialogue a) Improves chances of coming back b) If the customer has positive experience : Will offer good testimonial (free advertisement)

5.3. Customer satisfaction

5.3.1. Provide best possible product/service

5.3.2. Positive experience with Sales reps

5.3.3. 3 Important degree Product/Service Purchase process Degree of satisfaction Leads to future actions

5.4. Benefits

5.4.1. Retain Customer Base

5.4.2. Referrals

5.4.3. Growth

5.4.4. Develop authority

5.4.5. Happy customers Better work env

6. Customer Acquisition strategy

6.1. Small Business

6.1.1. Local media TV Print media

6.1.2. Internet Social networking sites Simple website

6.2. Large Business

6.2.1. Effective emarketing plan

6.2.2. Internet Company website (which includes keywords/phrases increasing chance of hit in search) Online ads

6.2.3. Media TV Print Radio

7. Process

7.1. Understanding customer perception

7.1.1. Customer value analysis Through Market survey

7.1.2. Offering customer value proposition

7.2. Customer engagement

7.2.1. Types of connection customer with the company/brand

7.3. Customer dynamics

7.3.1. Flow of activity between supplier & customer

7.4. Sales team

7.4.1. Afffiliates Revenue based commission

7.4.2. Full-Time Salary Commission

7.5. Marketing metrics

7.5.1. Performance of Sales team

7.5.2. Performance of product line

7.5.3. Competition analysis

7.5.4. Engagement (Feedback) analysis

7.6. Market targeting

7.6.1. Broad/Undifferentiated

7.6.2. Selective/Differentiated

7.6.3. Focused/Concentrated

7.7. Establish Rapport

7.7.1. Understand Habits Likes Dislikes Unstated needs Additional products Maximize benefit of mktd product

8. Factors that drive customer acquisition

8.1. Technological advancement

8.2. Govt. Policy

8.3. Life style changes

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

8.5. Innovation in Industry