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'''Customer acquisition management''' is a |
'''Customer acquisition management''' is a set of techniques used to manage customer prospects and inquiries generated by [[marketing]]. Customer acquisition management can be considered the connection between advertising and [[customer relationship management]] to acquire new customers.<ref>{{cite web |url=http://www.destinationcrm.com/Articles/Web-Exclusives/Viewpoints/The-Missing-Link-in-CRM-Customer-Acquisition-Management-44024.aspx |title=The Missing Link in CRM: Customer Acquisition Management |last=Saylor |first=Justin |date=Oct 11, 2004 }}</ref> |
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Customer acquisition management has |
Customer acquisition management has similarities to [[lead management]]. Sometimes missing from lead management definitions, but always included in customer acquisition management, is a closed-loop reporting system.{{cn|date=April 2023}} Such a reporting system typically allows the organization to quantify the effectiveness of results of various promotional activities.{{cn|date=April 2023}} This allows organizations to realize improvements in both promotional activities and customer acquisition systems. Like lead management, customer acquisition management creates an orderly architecture for managing large volumes of customer inquiries, or leads.{{cn|date=April 2023}} |
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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. |
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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 management system | sales force]]. In order to understand this process, it is helpful to examine a simplified linear lead flow process, such as the following: |
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* Advertising and CRM |
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* Customer inquiry or response |
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* Inquiry captured |
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* Inquiry filtered |
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* Lead graded and prioritized |
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* Lead distribution |
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* Sales contact |
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* Lead nurturing or retention |
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* Sales result |
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* Analysis of promotion's effectiveness |
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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.{{Clarify|date=October 2010}} 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. |
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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. <ref>{{cite web |url=http://www.vindicia.com/Best-Practices/customer-acquisition/metrics?page=6 |title=Vindicia Best Practice Guide: Customer Acquisition | accessdate = Nov 9, 2011 }}</ref> Technologies like [http://en.wikipedia.org/wiki/Vindicia Vindicia's CashBox] allow organizations to track online customer acquisition metrics and enable customer acquisition management. |
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*[[Lead management]] |
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*[[Customer relationship management]] |
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*[[Marketing]] |
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==References== |
==References== |
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[[Category: |
[[Category:Customer relationship management|Acquisition]] |
Latest revision as of 11:07, 12 February 2024
Customer acquisition management is a set of techniques used to manage customer prospects and inquiries generated by marketing. Customer acquisition management can be considered the connection between advertising and customer relationship management to acquire new customers.[1]
Customer acquisition management has similarities to lead management. Sometimes missing from lead management definitions, but always included in customer acquisition management, is a closed-loop reporting system.[citation needed] Such a reporting system typically allows the organization to quantify the effectiveness of results of various promotional activities.[citation needed] This allows organizations to realize improvements in both promotional activities and customer acquisition systems. Like lead management, customer acquisition management creates an orderly architecture for managing large volumes of customer inquiries, or leads.[citation needed]
See also
References
- ^ Saylor, Justin (Oct 11, 2004). "The Missing Link in CRM: Customer Acquisition Management".