Meaning of the word "customer acquisition" in English

What does "customer acquisition" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

customer acquisition

US /ˈkʌstəmər əˌkwɪˈzɪʃən/
UK /ˈkʌs.tə.mər əˌkwɪz.ɪʃ.ən/
"customer acquisition" picture

Noun

the process of gaining new customers for a business or product

Example:
Our marketing team is focused on improving customer acquisition.
High customer acquisition costs can impact profitability.