what is customer acquisition

Customer acquisition refers to the process of finding and persuading potential customers to buy products or services from a business in a measurable and repeatable way. It is a combination of sales, marketing, and other strategies that aim to attract leads, nurture them until they become sales-ready, and convert them into customers. The overall cost of these steps is referred to as the customer acquisition cost (CAC) . The purpose of customer acquisition is to help a company earn more business, using the power of different teams, channels, and strategies. Customer acquisition channels are the tools a business uses to connect with potential and existing customers, and they can be used at all stages of the customer journey. Examples of customer acquisition channels include a companys website, blog, email marketing, events, organic social media, paid ads, customer support, and referrals. Customer acquisition management is a set of techniques used to manage customer prospects and inquiries generated by marketing, and it can be considered the connection between advertising and customer relationship management to acquire new customers.