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To get ahead with a strategy when it comes to customer acquisition, machine learning (ML) could be your secret weapon. Although ML is a subset of a larger category called artificial intelligence (AI), it is a little more specific and can be a highly effective technology to combine with your customer and prospect database.
Real AI can think for itself like Lieutenant Commander Data from Star Trek. ML, on the other hand, can automate tasks and implement predictive analytics that drives meaningful growth. ML is the AI focal point for your Customer Relationship Management (CRM) tool and is essential to increase your customer acquisition.
What is customer acquisition?
Customer acquisition is a popular topic of discussion in e-commerce because every business needs customers for success. Traditionally, customer acquisition is considered expensive and assumed to include unsustainable practices like extensive advertising budgets or deep discounting strategies. However, customer acquisition is much more than that. You can accomplish it strategically to get customers to stick around after their first purchase.
According to Hubspot, customer acquisition can be defined as the processes of bringing new customers or clients to your business. The aim is to come up…
