Customer Acquisition Essay

1174 words - 5 pages

Customer Acquisition Customer acquisition is a broad term that is used to identify the processes and procedures used tolocate, qualify and ultimately secure the business of new customers. There are many differentstrategies used as part of the acquisition process, with some methods being more effective withspecific types of potential clients. In spite of the many and sometimes contradictory ideas thatsurround the central idea of how to earn a customer, there are a few essentials that are included injust about any type of customer acquisition plan.One of the basics of any customer acquisition effort is to identify and quality potential customers.This is sometimes accomplished with the use of ...view middle of the document...

Typically, a business will use more than one approach as part of the overall strategy, making it possible to increase the chances of reaching the desired core audience on more than one level. The customer acquisition strategy for a small business that primarily operates on a local level will of necessity be different than the method used by large corporations that want to reach a national or global pool of prospective clients. For a local retailer, grocer, or similar business, focusing on localmedia options is often a good choice. This means utilizing traditional outlets like television and radio ads that run at strategic times during the day and evening. Use of local print media in the form of area magazines and newspapers is often effective. It is important to identify unstated needs, based on data provided in ongoing conversations with the prospect. This type of activity can lead to identifying additional wants that can be met by other products that the salesperson has to offer, or inspire additional ideas of how the prospect can obtain a greater value from purchasing the products he or she already is considering. Key to the customer acquisition process is understanding the role of customer perception throughout the process. A successful salesperson knows how to really listen to the prospect, and get a firm idea of how that prospect feels about the potential of the products offered for sale. Seeing the relationship from the prospect’s point of view makes it possible to proactively deal with possible objections raised by the prospect before they are voiced. In addition, the added perspective can help the salesperson connect with the client in a manner that is rarely possible otherwise. The end result is that understanding customer perceptions makes it easier to forge a relationship that not only results in a sale, but also in strong customer loyalty, provided the products live up to the claims presented during the sales cycle. Small businesses can also include the use of the Internet in their overall customer acquisition strategy. Even local businesses may find that creating pages or groups on social networking sites makes it possible to connect with established customers who in turn create a potential connection with all the individuals in their networks. At the same time, setting up a simple web site and structuring the site so that local residents can visit, bookmark, and share the site with others can also be an effective means of reaching new customers. Larger businesses can also make use of these same basic approaches as part of customer acquisition...

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