By Markus Wübben (auth.)
The ever-increasing quantity of individual-level purchaser facts generated via loyalty courses opens new views for buyer courting administration (CRM). but, contemporary analyses have proven that a large fraction of CRM tasks fail to bring the nice on the base line. one of many major purposes for this issue is that those info require complex analytical processing to totally leverage their strength (“analytical CRM”). study and perform are nonetheless in its early levels with recognize to analytical CRM.
Markus Wübben makes a speciality of analytical CRM for constructing and holding buyer-seller relationships in non-contractual settings, i.e. settings, within which buyer-seller relationships aren't ruled by way of a freelance that predetermines the financial worth and/or size of the connection. this can be a universal state of affairs for lots of companies equivalent to shops, resorts, and airways. utilizing empirical analyses at the foundation of sound theoretical foundations, the writer indicates how purchaser relationships will be broadened, that means how shoppers’ cross-buying habit might be inspired and the way shoppers’ courting size and intensity, i.e. clients’ task and purchase-levels, might be estimated. ultimately, he derives implications for study and practice.
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Additional resources for Analytical CRM: Developing and Maintaining Profitable Customer Relationships in Non-Contractual Settings
In the light of CLV maximization (Bell et al. 2002, p. 81), insights on how CLV can positively be manipulated need to be established. Indeed, Verhoef et al. (2001) identify (a) relationship length, (b) relationship depth, and (c) relationship breadth as the main behavioral dimensions and drivers of CLV. Relationship length is deﬁned as the duration of the buyer-seller relationship. Relationship depth is reﬂected in the frequency of service usage (product purchases) over time and decisions of customers to upgrade and purchase higher margin products instead of lowcost variants.
3 Proceedings of the Study 9 three behavioral dimensions of customer relationships are being identiﬁed that significantly contribute to the customer lifetime value. What follows is a review of studies which analyze these dimensions that clearly and extensively reveal the need for an understanding of this work’s research questions. Chapter 3 is dedicated to empirically analyzing the drivers of cross-buying behavior in non-contractual settings. Speciﬁcally, I analyze whether cross-buying across (tangible) product categories and cross-buying value-added services are driven by distinct or the same constructs.
2004c, p. 2). The original deﬁnition by Blattberg and Deighton (1996, p. 138) only included current customers ignoring the value of potential customers for customer equity. , Hogan et al. 2002a; Bayón et al. 4) where i, j = customer index, n = number of current customers, m = number of potential customers, CLVicurrent = CLV of current customer i, and CLV jpotential = CLV of potential customer j. The deﬁnitions of customer equity and CLV reﬂect the view of customers as investment (assets). Research has shown that customer equity is in fact a good proxy for a ﬁrm’s value implying that strategies that improve customer equity will also enhance the value of the ﬁrm.
Analytical CRM: Developing and Maintaining Profitable Customer Relationships in Non-Contractual Settings by Markus Wübben (auth.)
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