 OUR TAKE -
The Difference Between Customer Acquisition and Retention
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You can avoid reality, but you cannot avoid the consequences of avoiding reality.
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Ayn Rand
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Yesterday, I wrote about the irony of the Chief Customer Officer (CCO) - the existence of a CCO often creates a sense among most employees that someone else has responsibility for the customer. Let's place that idea aside for the moment and focus on the scope of the position.
Can a CCO can simultaneously handle the responsibilities of customer acquisition and customer retention? For me, it is not a matter of breadth. Rather, it is a matter of direction. To put it a different way, it is not a matter of the talents of the CCO. Rather it is a matter of directing the talents and resources to create customers for life or to find new customers.
If you metaphorically consider customer acquisition and retention akin to dating and marriage, you can appreciate the difference in expectations and rituals. Dating is about determining the existence of a mutual match. Marriage is about making a mutual match work. These are two totally different objectives with unique actions and interactions.
It is hard to imagine dating and marriage in the same "job description" unless you consider dating your spouse. Likewise, it is difficult to put acquisition and retention under the same job description. That's my take. Do you agree? What's your take?
Gary Lemke, Publisher
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