Acquisition fills the first level of your sales funnel with qualified individuals. The first level, suspects, are any person or organization who could potentially be a prospect for your product or service and who have a need, necessary finances, and willingness to do business. The next level, prospects, are any organization or potential client who resembles your ideal customer profile and who was targeted by a company-initiated action or opportunity. When these suspects or prospects complete a transaction with your business, they are successfully acquired.
Acquisition provides an immediate source of revenue by creating buyers and customers who make purchases through your business. These buyers and customers also provide your company with relevant data as they progress through the sales funnel. What did it take to move them from suspect to prospect to buyer? Which of the techniques you used is repeatable? In this way, acquisition is not just useful in the short-term by generating revenue; it provides useful data and insights for your company in the long-term.