What does acquisition mean?
Acquisition, also known as canvassing (from the Latin "acquirere" = "to acquire"), encompasses all measures aimed at acquiring customers. A distinction is made between the acquisition of new customers (cold acquisition) and the acquisition of existing customers (warm acquisition). The acquisition process involves several steps. From the identification of potential interested parties (lead generation), through verification and classification (lead qualification), to the establishment of contact, the sale or business transaction and the subsequent follow-up sales (after sales).
Acquisition serves to expand the customer base and increase the company's success by targeting potential customers.
Warm acquisition vs. cold acquisition
A fundamental distinction in the acquisition process is between warm and cold calling. Cold calling refers to the initial approach of potential new customers without prior contact, e.g. by telephone or email. However, this also involves legal aspects, especially in the B2C sector. Warm acquisition, on the other hand, is aimed at developing or consolidating relationships with existing contacts. It is considered more efficient as a basis for the conversation already exists.
Acquisition process
The acquisition process comprises several stages, starting with lead generation and the qualification of contacts, through to making contact, the sales pitch and maintaining existing customers. Each stage requires specific strategies and measures in order to successfully convert potential customers into actual customers.
Customer profiling
Customer profiling is a process in which detailed customer profiles are created in order to gain a deeper understanding of the needs, preferences and behaviors of target groups. By analyzing data such as demographic characteristics, purchase history, interactions and social media activities, companies can develop marketing strategies tailored to their target groups.
This enables a targeted approach and improves the customer experience by offering products and services that are precisely tailored to the customer's wishes and needs. Customer profiling is therefore a crucial tool for effective marketing and sales, which contributes to customer loyalty and increased sales.
Most important types of acquisition
Digitalization has expanded the possibilities for acquisition. Companies can take measures both online and offline to acquire new customers. Continuous documentation of all acquisition activities in a CRM system is important for success in order to maintain an overview of the process and work efficiently as a team:
Referral marketing
Referral marketing uses existing customer relationships to generate new leads through recommendations. Satisfied customers recommend products or services to their network, which leads to high-quality leads. This approach builds on the trust and credibility of existing customer relationships.
Online acquisition
Online acquisition encompasses digital strategies for customer acquisition, including search engine optimization(SEO), search engine marketing (SEM), social media marketing, content marketing and email marketing. These methods aim to increase visibility and engagement online to generate leads and convert them into customers.
Network acquisition
Network acquisition refers to building and maintaining relationships within relevant networks and industry events such as conferences, trade fairs and workshops. Personal relationships and direct exchanges offer the opportunity to build trust and acquire potential customers in a less formal environment.
Direct marketing
Direct marketing includes direct communication measures with potential customers through mailings, flyers, catalogs or personal sales calls. The aim is to achieve a direct response from the recipient, be it through a purchase, an inquiry or another form of interaction.
Inbound acquisition
Inbound acquisition focuses on attracting customers by providing valuable content and solutions rather than actively seeking them out. By creating content that is tailored to the needs and interests of the target group, potential customers are naturally attracted and encouraged to take further action.
Each of these acquisition types has its own strengths and challenges and can vary in effectiveness depending on the business model, target market and resources. A combination of these approaches is often used to achieve the best results in the customer acquisition process.
Acquisition in various sectors
Acquisition plays a decisive role in many industries and business areas because it contributes directly to the growth and success of a company. It is particularly important in the following areas:
B2B (Business-to-Business)
In the B2B sector, acquisition is of central importance because business relationships are often based on long-term contracts and high order values. Acquiring new business customers requires a targeted approach. A deep understanding of the specific needs and challenges of the target companies is crucial here.
B2C (Business-to-Consumer)
In the B2C sector, especially in highly competitive markets such as retail, e-commerce and services, the continuous acquisition of new customers is essential for growth and maintaining market share. This is where branding and marketing play a key role in capturing the attention of potential customers.
Acquisition for financial services
Banks, insurance and investment companies rely heavily on acquisition to expand their customer base and sell a broad portfolio of financial products and services. Trust and credibility are particularly important in this sector, which makes acquisition a challenging task.
IT and software
For companies in the IT and software sector, especially for providers of SaaS (Software as a Service) products, acquisition is crucial in order to increase their user base and secure recurring revenues. The rapid development of technology and the high level of competition require innovative acquisition strategies.
Consulting and services
Companies that offer consulting and professional services, such as legal, management or marketing consulting, rely heavily on the acquisition of new clients to expand their business. Personal networks and recommendations often play an important role here.
Real estate industry
In the real estate sector, the acquisition of sellers and buyers is equally important for agents and real estate companies. Success depends heavily on local market knowledge, networks and the ability to build trust with customers.
Acquisition in the healthcare sector
Healthcare providers, including private practices, specialty clinics and wellness centers, must continually attract new patients and customers to remain profitable. Quality of care and reputation are usually decisive factors for acquisition.
In these areas, acquisition is not only important for immediate growth and performance, but also for the long-term sustainability of the company. An effective acquisition strategy takes into account the specific challenges and opportunities of the respective market. It continuously adapts to changes in the industry and in customer behavior.
Success strategy for companies
Acquisition plays a crucial role in the long-term success and growth of a company. It is not only the key to expanding the customer base, but also to securing revenue streams and increasing brand awareness.
Through effective acquisition strategies, companies can not only win new customers, but also gain valuable insights into market needs and trends, which are essential for product development and service improvement. In a highly competitive environment, targeted and well thought-out acquisition enables companies to build long-term customer relationships and strengthen their market position. Investing in acquisition is therefore a fundamental strategy that goes beyond immediate sales success and forms the basis for sustainable corporate growth.
