- Published: September 18, 2022
- Updated: September 18, 2022
- University / College: University of Technology Sydney
- Level: Secondary School
- Language: English
- Downloads: 39
Module Marketing In order to understand why it is important for the marketer to distinguish between acquisition, conversion, and retention, it is first necessary to clarify that marketing is all about the customer. From this realization, any activity that deals directly with clients has its own unique contribution to the marketing strategy (Tracy 41). Customer acquisition, conversion, and retention are not only quite distinct from each other, but they also affect marketing strategies in different ways. For the marketer to reap the most out of the marketing strategy, he has to distinguish these three concepts so that he can optimize their strengths. The dynamics of the three aspects are also very different, so telling them apart makes it easy for the marketer to develop an effective marketing strategy.
Another important point is that all three concepts are methodical and systematic, meaning they have to be conducted in an orderly manner. Customer acquisition is always the first activity to be carried out, because customers cannot be acquired or retained if they do not exist. A marketer who can distinguish the three concepts is also more likely to understand that they must be conducted in an orderly fashion (Tracy 47). An ability to distinguish the three aspects gives the marketer the impetus to implement them effectively, and make the whole marketing strategy effective. Finally, distinguishing these concepts allows the marketer to identify possible mistakes made during the development of the marketing strategy. For example, if customer acquisition is not done effectively, the marketer can pinpoint the areas of weakness and develop appropriate measures to eliminate them.
Work Cited
Tracy, Brian. Marketing. New York: AMACOM, 2014. Print.
