Best of the Week
Most Popular
1. Crude Oil Price Trend Forecast - Saudi's Want $100 for ARAMCO Stock IPO - Nadeem_Walayat
2.Gold Price Focusing on May Cycle Bottom - Jim_Curry
3.Silver, silver, and silver! There’s More Than Silver, People! - P_Radomski_CFA
4.Is the Malaysian Economy a Potemkin Village - Sam_Chee_Kong
5.Stock Market Study Shows Why You Shouldn’t “Sell in May and Go Away” - Troy_Bombardia
6.A Big Stock Market Shock is About to Start - Martin C
7.A Long Term Gold Very Unpopular View - Rambus_Chartology
8.Stock Market “Sell in May and go away” Study When Stocks Are Down YTD - Troy_Bombardia
9.Global Currency RESET Challenge: Ultimate Twist - Jim_Willie_CB
10.The Coming Silver Supply Crunch Is Worse Than You Know - Jeff Clark
Last 7 days
More Clarity for the Short Term for Bitcoin Price - 22nd May 18
Study: A Rising and Strong U.S. Dollar Isn’t Consistently Bearish for the Stock Market - 22nd May 18
Gold, Silver & US Dollar Updates with Review of Latest COTS - 22nd May 18
Upside DOW Stock Market Breakout May Be Just the Beginning - 22nd May 18
5 Reasons Why Forex Trading Is Becoming Such A Big Deal In SA - 22nd May 18
Fibonacci And Elliot Wave Predict Stock Market Breakout Highs - 21st May 18
Stock Market Ideal Cycle Low Near - 21st May 18
5 Effects Of Currency Fluctuations On The Economy - 21st May 18
Financial Conditions are Still too Easy for the Stocks Bull Market to End - 21st May 18
US Stock Market Elliott Wave Predictions for 2018 and Beyond - 20th May 18
Are You Still Fearful of Cryptos? - 20th May 18
US Stocks - Why I am Short-term Bearish, Medium-term Bullish - 20th May 18
Looking for a Turn in Gold Price - 20th May 18
GDX Gold Mining Stock Fundamentals 2018 - 19th May 18
Semiconductor Stock Market Canaries: Chirp, Warble… Soon a Croak and Silence? - 19th May 18
Three Drivers of Gold Price - 18th May 18
Gold Market in First Tertile of 2018 - 18th May 18
What Happens Next When Small Cap (Russell) Leads the Stock Market - 17th May 18
Negative Signs for EUR/USD? AUD/USD - Battle - 17th May 18
DOW Jones and CRUDE Oil on a Cliff Edge, Waiting for a Nudge! - 17th May 18
Gold Price No More Subtleness – It’s Show Time! - 17th May 18
VIX Cycles Point to Stock Market Correction - 17th May 18
Trump Sounds End Times Armageddon Trumpet for Jerusalem, Israel Evangelical Prophecies - 16th May 18
Our Next Stock Market Dow Fibonacci Price Targets – Get Ready! - 16th May 18
The Coming Copper Crunch - 16th May 18
Stock Futures Are on a Sell Signal - 16th May 18
What to do When the IRS Comes for Your Property - 16th May 18
IS BITCOIN ANONYMOUS? - 16th May 18

Market Oracle FREE Newsletter

Trading Lessons

How do Client Acquisition Offers Affect Businesses?

Companies / Business Mar 21, 2017 - 11:06 AM GMT

By: Submissions

Companies

When looking to grow a business there are three key things you need to do. Get more clients, get them to visit you more often and get them to spend more each time they visit you. This principal is true for all businesses that's aim is to turn a profit.

The hardest of these three steps to achieve is arguably ‘getting more clients’. One way that a lot of businesses aim to attract more clients is with acquisition offers.


What are client acquisition offers?

Acquisition offers are promotions or discounts offered to non-customers as an incentive for them to begin using a business’s product or service

(15% off your first haircut at a salon, or £20 free bet when you sign up to a bookmaker’s site are just some of the client acquisition offers that you’ll regularly see.).

Another way to run acquisition offers would be with an ‘offer of the month’. This involves a company giving a discount, or something free away to non-clients, with that particular offer changing month by month.

The reason that ‘offer of the month’ can work so well is that it keeps people interested over a sustained period of time. Although February’s offer may not be of interest to a certain person, they’ll be inclined to check back the following month just to see if the new offer would suit them.

Who should use client acquisition offers?

The answer to the question 'who should use client acquisition offers' is everybody. Well, that is everybody who wants' more clients. And if you don't, then that begs the question as to why you're in business at all.

The exception is when a business has limited resources. Its all well and good bringing on more and more clients, however you need to make sure that you can still provide the same quality of service/product to each client, even as the number grows.

However, if your client acquisition strategy is well thought out and proven then you'll be able to budget for increased capacity; this could mean taking on extra staff or upping stock levels.

Where are client acquisition offers most commonly used?

Client acquisition offers are currently used widely across a range of different industries. Despite this, you'll most regularly see the 'best' client acquisition offers from companies who provide a service rather than a specific product. This is because for a service based business, a customer is most likely a repeat customer; and more often than not a regular customer.

For product based businesses, for example a company that sells large kitchen appliances, there's much less chance of there being repeat custom. People tend to just take advantage of the best offer at the time, meaning that offering too much discount at the point of original purchase may not be profitable.

Service businesses such as bookmakers don't have this problem. They're often happy to lose money on the first transaction with a customer on the premise that that customer will continue to use their service and make them money going forwards.

How do client acquisition offers affect business?

Overall client acquisition offers are fantastic for business; especially when they're utilised correctly. As the name suggests they're a great way of generating more clients, revenue and eventually profit.

They also aid the client themselves. The strong competition that these offers create means it's possible to get some great deals on first time purchases with a number of different companies.

 

This is an paid advertorial. This is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any investing and trading activities.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules