Page 102 - DMGT308_CUSTOMER_RELATIONSHIP_MANAGEMENT

Unit 4: Customer Retention, Acquisition and Expectation

Customer acquisition management also often includes the original response to a prospect Notes
immediately after their inquiry. This response could come in many forms – a personalized
fulfilment 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:
1. Advertising and CRM
2. Customer inquiry or response

3. Inquiry captured
4. Inquiry filtered
5. Lead graded and prioritized
6. Lead distribution

7. Sales contact
8. Lead nurturing or retention
9. Sales result
10. 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.

Task What is meant by customer acquisition?

Self Assessment

Fill in the blanks:
6. Choice Reduction and Habit is a component of …………………….
7. Binary response behaviour is the …………………… kind of response behaviours.
8. Full form of CAC is …………………….
9. …………………… include the methodologies and systems to manage customer prospects
and inquiries, generally generated by a variety of marketing techniques.
10. The best medium to deliver promotional messages to a clearly identifiable set of customers
or prospective new customers is …………………….

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