Skip to main content

 

Chris Reid

Executive Vice President, Services, North America

Customer acquisition is challenging. More than ever, customers have more choices and higher expectations for a positive experience. They’re also less loyal to companies that have historically enjoyed the comfort of being household names. As companies compete for enduring customer relationships, they need to ensure their strategies are designed to acquire not the most customers, but the right customers. Those are the ones that will add long-term value – from the outset.

As we look toward the future of customer acquisition, B2C acquisition strategies will start to mimic those of the B2B world as buyers embark on increasingly complex purchase journeys. B2C companies will need to start attracting the attention of potential customers long before they are ready to make a purchase.

How can companies do this? By making stronger connections with potential new customers through the values and characteristics they share with the company. This comes from tapping into high-quality, relevant data, such as anonymized and aggregated insights to power an analytics-based process. Unlocking a 360-degree view of customers through analyzing insights based on actual customer behavior is the key to a competitive advantage in customer acquisition. From there, building targeted campaign audiences, customizing creatives and establishing a feedback loop for campaign performance and optimization is crucial. Companies can significantly improve the ROI of their acquisition campaigns while growing a loyal customer base.

Get more on customer acquisition trends by downloading our white paper.

 

Chris Reid oversees the division that includes loyalty solutions, enterprise security solutions, processing and Advisors consulting. He has also managed the company’s global relationships with Citibank, JP Morgan Chase and the Royal Bank of Scotland Group.

Download The Future of Customer Acquisition

And subscribe to Compendium to stay on top of today's trends and innovation.

By clicking subscribe, I am requesting that Mastercard send me information about Mastercard business products and services. I acknowledge and agree that my personal data may be processed in accordance with Mastercard's Privacy Notice and Terms of Use.