Purpose and background:

Customer acquisition refers to gaining new consumers. Acquisition Research refers to the set of methodologies and systems for managing customer prospects and inquiries that are generated by a variety of marketing techniques.

Scope and responsibilities:

It is imperative to study relevant past or present trends in user consumption of specific products/services to understand their inclination/preference towards it. In addition, continuous rectification of any loopholes in present services/products is necessary to gain user trust. Also, a big key to retention of existing users and addition of new users is to address users’ queries constantly and to promote new products/services in an effective way.

Procedure and Methodologies:

A) Desk research– Conduct research from existing records without any actual field work

B) E-surveys for previous users to share feedback                                 

C) Telephone interviewing/interaction to attract new users or to map old users’ feedback

D) Advertising- All forms of advertising and marketing are designed to attract people to a product or service with the hope that they will eventually become brand loyalists. Above-the-line advertising, such as billboards, television and radio spots, posters, print advertisements, and cinema spots do a great job of getting a brand in front of millions of eyes, but they rarely close a sale or include methods to track customer conversions.

E) Providing coupons/discounts to lure new users and to retain pre-existing users.

F) Loyalty points schemes play a vital role in user retention

G) Referral discount can be offered to both old and new consumers.

H) A strong communication team has to be in place to address queries of new users.