Customer acquisition management

Customer acquisition management

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.[1]

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 response could come in many forms – a personalized fulfillment letter and brochure, an e-mail response or a telephone call. In each case the initial response is targeted to further the interest of the prospect and simplify the initial sales call for the sales channel.

Like lead management, customer acquisition management creates an orderly architecture for managing large volumes of customer inquiries, or leads. The architecture must be able to organize numerous leads, at various stages of a sales process, across a distributed sales force. In order to understand this process, it is helpful to examine a simplified linear lead flow process, such as the following:

  • Advertising and CRM
  • Customer inquiry or response
  • Inquiry captured
  • Inquiry filtered
  • Lead graded and prioritized
  • Lead distribution
  • Sales contact
  • Lead nurturing or retention
  • Sales result
  • Analysis of promotion's effectiveness

The lead flow process can become enormously complex as customers and sales professionals begin to interact. These various interactions and subsequent actions can create a variety of scenarios, both productive and counterproductive.[clarification needed] This exponential number of scenarios can provide for numerous opportunities to mishandle leads in such a way as to reduce their value. Managing these scenarios is the function of lead management.

By creating methods and processes to track key acquisition metrics, organizations can get a more accurate picture of what traffic and new customers result from each channel. [2]

See also

References


Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • Customer communications management — is a term highlighted by research companies such as Gartner Group, Forrester Research and Madison Advisors to define a convergent set of Information Technology solutions that together provide marketing communication professionals the ability to… …   Wikipedia

  • Customer lifecycle management — Customer Lifecycle Management, or CLM is the measurement of multiple customer related metrics, which, when analyzed for a period of time, indicate performance of a business.[1] The overall scope of the CLM implementation process encompasses all… …   Wikipedia

  • Acquisition Initiation (ISPL) — Acquisition initiation is the first process within the Information Services Procurement Library and is executed by the customer organization, intending to procure Information Services.Two main activities lie within this process: the making of the …   Wikipedia

  • Customer attrition — Customer attrition, also known as customer churn, customer turnover, or customer defection, is a business term used to describe loss of clients or customers. Banks, telephone service companies, Internet service providers, pay TV companies,… …   Wikipedia

  • Customer Lobby — Type Private Industry Business ratings and reviews Founded September 2007 Headquarters …   Wikipedia

  • Customer engagement — (CE) refers to the engagement of customers with one another, with a company or a brand. The initiative for engagement can be either consumer or company led and the medium of engagement can be on or offline. Unlike marketing terms such as… …   Wikipedia

  • Customer insight — is the collection, deployment and interpretation of information that allows a business to acquire, develop and retain their customers. Analysis Firstly, the collected data must be audited to fully understand the quality and opportunity within the …   Wikipedia

  • Customer lifetime value — Contents 1 Definition of Customer Lifetime Value 2 Calculation in customer retention cases 3 Uses and Advantages of CLV 4 References …   Wikipedia

  • acquisition — When a firm buys another firm. Bloomberg Financial Dictionary Receipt, by a person registered or liable to be registered for VAT, of goods that have been supplied by a registered person in another European Union ( EU) Member State and removed… …   Financial and business terms

  • Lead management — is a term used in general business practice to describe methodologies, systems, and practices designed to generate new potential business clientele, generally operated through a variety of marketing techniques. Lead management facilitates a… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”