How can a company effectively measure the impact of leveraging awards and recognition in their marketing strategy on customer acquisition and retention?

A company can effectively measure the impact of leveraging awards and recognition in their marketing strategy on customer acquisition and retention by tracking metrics such as customer acquisition costs, customer lifetime value, and customer retention rates before and after receiving awards. They can also conduct surveys or gather feedback from customers to understand how awards and recognition have influenced their perception of the company. Additionally, analyzing website traffic, social media engagement, and sales data following the announcement of awards can provide insights into the effectiveness of leveraging awards in their marketing strategy.

Keywords

awards recognition marketing strategy customer acquisition customer retention

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