Welcome to better understand the customer acquisition process in digital marketing. The following article provides information on what customer acquisition means.
You will also see if there is a difference between customer acquisition and customer engagement.
And finally, you will find the clear answer to what steps you need to follow to run a successful customer acquisition process!
What is Customer Acquisition?
Customer acquisition is the process of turning visitors into your customers. You should determine the traditional strategies (content marketing, webinars, social media marketing, etc.) that best suit your target audience and create an implementation plan accordingly.
The customer acquisition process relies on strategies that include methods for responding to customer inquiries. Example strategies include building an email list, leveraging customer testimonials, and similar methods.
customer acquisition illustration
Customer acquisition is the process of converting visitors into your customers. Acquisition techniques change according to technological developments. To stay in the competition and achieve high acquisition rates, you must constantly optimize and improve your marketing practices.
Customer Acquisition vs. Customer Retention
The difference between customer acquisition and customer retention
While the aim of customer retention is to develop relationships with existing customers, netherlands whatsapp phone number the main aim of customer acquisition is to gain new customers.
Obviously, you can’t run a business without new customers, so customer acquisition is a big challenge to overcome in the first place.
As your customer base grows, increasing brand awareness, generating special assistance, and managing loyalty programs are vital to achieving significant growth and maintaining a competitive advantage.
The difference is basically that customer retention aims to develop the relationship with existing customers , while customer acquisition aims to acquire new customers .
There is no reason to claim that one is more important than the other. The vital importance of each is time dependent!
When you’re first starting out, customer acquisition is essential for building a customer base. Once you’ve acquired a sufficient number of customers, customer retention becomes incredibly essential to sustaining revenue growth.
Therefore, on average, 80% of a company's revenue comes from 20% of its existing customers .
16 Steps to Customer Acquisition for Digital Marketers
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