Marketing Glossary

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  Customer Acquisition
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Customer Acquisition

Most businesses regard customer acquisition as the primary means to organic growth. Customer acquisition involves basically finding new customers and re-winning lost customers. The latter might have switched because they needed product capabilities which were only available with competitors' products. Other reasons might be price issues or poor service. Any customer acquisition measure has to be conducted in a way to meet interests and concerns of targeted groups.

The traditional approach to increase the customer base is a combination of mass marketing (e.g. advertisements, exhibitions) and direct marketing (e.g. mailer, telemarketing). Independent of measures taken, it is important to have a clear picture of the customer profile. The more accurately customer acquisition is targeted, the higher the success rate.

The ultimate goal of customer acquisition is getting customers to response to sales and marketing activities. Responses could be initial inquiries about products and services. These inquiries are a vital step to (re-) win customers. Any customer acquisition measure can only succeed if immediate and high quality follow-ups are performed.

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