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What is Customer Acquisition and it's Process

Let us start with an introduction of Customer Acquisition

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The cost associated with the important customer acquisition process is an important measure for a business to evaluate in combination with how much value having each customer typically brings to the business.

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A Definition of Customer Acquisition. Put simply, customer acquisition refers to gaining new consumers. Acquiring new customers involves persuading consumers to purchase a company’s products and/or services.

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So, to say customer acquisition is important is underplaying the value of the most vital marketing campaign any business can put out there. In broad strokes, customer acquisition is the term used to describe the process of bringing new customers to a particular brand, product or service. Customer acquisition cost is the cost incurred by an organization while convincing a customer to buy a service or a product. In other words, it is the cost of resources for the business in order to acquire a new customer. Customer acquisition cost involves research, marketing and accessibility costs.

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Customer acquisition cost is the cost associated with convincing a consumer to buy your product or service, including research, marketing, and advertising costs. An important business metric, customer acquisition cost should be considered along with other data, especially the value of the customer. 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.