Managing for successful customer acquisition

an exploration

Research output: Contribution to journalArticle

16 Citations (Scopus)

Abstract

Given all the recent attention dedicated by academics, consultants and practitioners to customer retention, customer acquisition has become a secondary concern. Yet, customer acquisition is of major importance and demands attention as the first stage of the customer life-cycle. Our research shows that companies are not particularly skilled at managing the customer acquisition process. For example, less than half have a dedicated customer acquisition plan. Only one variable distinguishes companies that excel at customer acquisition - they have a budget dedicated to customer acquisition activities. Other variables examined - the presence of an executive responsible for customer acquisition, an understanding of the economics of customer acquisition, and the deployment of CRM technologies to support customer acquisition - are not associated with excellence at customer acquisition.
Original languageEnglish
Pages (from-to)295-317
Number of pages23
JournalJournal of Marketing Management
Volume22
Issue number3-4
Publication statusPublished - 2006

Keywords

  • CRM
  • customer retention
  • customer lifecycle

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