Customer acquisition management
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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 the most effective fashion.
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 responses 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 promotions 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. 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.
