Customer Acquisition
Description
Customer acquisition is the process of gaining new customers for a business. This can include a variety of tactics, such as advertising, social media marketing, content marketing, and email marketing.
The goal of customer acquisition is to attract new customers to the business and ultimately increase revenue. It is an important part of any business strategy, as acquiring new customers can be more cost-effective than retaining existing ones.
Frequently Asked Questions
A business can acquire new customers through a variety of tactics, such as advertising, social media marketing, content marketing, and email marketing.
The amount a business should spend on customer acquisition will vary depending on the industry and the competition. A good rule of thumb is to spend no more than the lifetime value of the customer.
Customer acquisition is important because it is a key driver of business growth. Without a steady stream of new customers, a business may struggle to grow and remain competitive.
Coca-Cola uses a variety of customer acquisition tactics, including social media marketing and experiential marketing events, to attract new customers.
Dollar Shave Club became a popular online retailer by offering a subscription-based model for affordable shaving products, using customer acquisition tactics like video marketing.
Further Reading Materials
"Traction: How Any Startup Can Achieve Explosive Customer Growth" by Gabriel Weinberg and Justin Mares "Contagious: Why Things Catch On" by Jonah Berger
