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Customer acquisition cost (CAC) is the cost of winning a customer to purchase a product or service. As an important unit economic, customer acquisition costs are often related to customer lifetime value (CLV or LTV). [1] With CAC, any company can gauge how much they’re spending on acquiring each customer.
Account executive is a role in sales, advertising, marketing, and finance involving intimate understanding of a client company's objectives and products and a professional capability to provide effective advice toward creation of successful promotional activities and strategies. [1]
Customer relationship management (CRM) is a process in which a business or another organization administers its interactions with customers, ...
Lead acquisition is the first, and possibly the most critical potential disconnect in the lead management process. With billions being spent on advertising expenditures, [2] in many cases the value of those expenditures is reduced because relevant information from responses is not collected or distributed.
Procurement is one component of the broader concept of sourcing and acquisition. Typically procurement is viewed as more tactical in nature (the process of physically buying a product or service) and sourcing and acquisition are viewed as more strategic and encompassing. [citation needed] Multiple sourcing business models and acquisition models ...
In business, commerce, and economics, a client is a person who receives advice or services from a professional, such as a lawyer or a health care provider. Clients differ from customers in that customers are thought of as "one-time buyers" while clients can be seen as "long-term recipients", [ 1 ] and customers buy goods as well as services.
Clienteling is intended to guide associates to provide more personal and informed customer service [2] that may influence customer behavior related to shopping frequency, lift in average transaction value, and other retail key performance indicators. [3]
The overall scope of the CLM implementation process encompasses all domains or departments of an organization, which generally brings all sources of static and dynamic data, marketing processes, and value-added services to a unified decision supporting platform through iterative phases of customer acquisition, retention, cross-and upselling ...