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"CUSTOMER RELATIONSHIPS"
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Technology-driven service strategy
Advancements in technology are radically transforming service, and increasingly providing the underlying basis for service strategy. In this paper, we develop a typology and positioning map for service strategy, in the context of rapid technological change, and outline the process for firms to position or reposition their service strategies. Which strategy to choose is based on the degree to which customer demand is heterogeneous, and the degree to which potential customer lifetime value varies across customers. This results in four strategies: the McService strategy that is standardized and transactional, the Relational Service strategy that is standardized and relational, the Customized Transaction strategy that is personalized and transactional, and the Adaptive Personalization strategy that is personalized and relational. We provide firms a roadmap for identifying a “sweet spot” strategy in relation to a segment’s realized or potential customer lifetime value, combined with the firm’s technological capabilities. Because technological capabilities inevitably advance, firms will tend to move from standardized to personalized and from transactional to relational over time, implying that firms should be alert to technological opportunities to personalize their relationships with customers. Our strategic framework also produces a useful bridge from marketing practice to the conceptual evolution of the service literature, showing how the historical trends toward continuing customer relationships and co-productive personalization should drive strategic thinking in service.
Journal Article
The Effects of a Digital Marketing Orientation on Business Performance
Customer relationship management (CRM) has become increasingly important as a result of the pressure organizations are under to remain competitive. CRM has been and is widely promoted as essential to a company’s ability to survive. According to this study, CRM is more than just a computer program or software package. We believe that for organizations to use CRM effectively, it must be viewed from a strategic point of view. Therefore, this study focuses on the consequences of digital marketing on business performance, specifically, the consequences of customer relationship orientation and the use of CRM technologies as a support for analysis, data integration, and access on business performance. This study addresses a contemporary and relevant research problem that has national and international relevance. The research is based on quantitative methods to test hypotheses. Data were gathered from 73 organizations. The findings show the relationships between CRM and customer satisfaction, market effectiveness, and profitability. Customer relationship orientation positively affects customer satisfaction, market effectiveness, and market profitability. CRM technologies significantly improve business performance. This research contributes to the existing knowledge by shedding light on the complex relationships among CRM, customer relationship orientation, market effectiveness, market profitability, and customer satisfaction. Based on the research results, we provide practical recommendations for managers and decision makers.
Journal Article
Customer-centric strategy driving innovativeness and business growth in international markets
PurposeThe motivation for this study comes from decision making related to strategic marketing orientations in international markets. The authors examine if customer orientation and customer relationship orientation perform as two distinct constructs in driving firm innovativeness, and how together they support business growth among export firms. This study aims to suggest a customer-centric strategy for export firms that drive innovativeness and growth.Design/methodology/approachAn international corporation specialized in company information services provided a list of the contact information of Italian companies. The authors sent an email request to respond to an online survey and received 416 effective responses from firms operating in export markets. The authors propose and empirically test a model in which customer orientation, customer relationship orientation and innovativeness predict business growth. This model controls for the effects of firm size, industry and customer type (B2B vs. B2C).FindingsThe study findings suggest that customer orientation and customer relationship orientation are two distinct strategic orientations driving innovativeness. However, they do not directly affect business growth. Instead, they require the innovativeness of an exporter to materialize as business growth.Practical implicationsThe results of the study recommend business strategies focusing not only on customer needs and satisfaction but also on retaining current customers and building customer relationships in international markets. Firms can learn from international customers and develop effective customer-centric strategies to spread the acquired information into the internal decision-making as it contributes to firm innovativeness and business growth in international markets.Originality/valueThis study is one of the pioneering studies combining customer orientation and customer relationship orientation, showing their theoretical and empirical divergence. This study is also among the first which tests how the two strategic orientations together with innovativeness promote business growth among export firms. The authors add understanding of the synergistic effects both of using customer information and developing deeper relationships on firm innovativeness and performance among exporters.
Journal Article
Development of long-term B2B customer relationships: the role of self-disclosure and relational cost/benefit evaluation
Purpose
This paper aims to explore how and why salespeople enhance or hinder long-term business-to-business (B2B) customer relationships at the interpersonal level by considering self-disclosure and relational cost and reward evaluations.
Design/methodology/approach
Data from interviews (N = 47) with B2B sales professionals were analyzed, focusing on the shift of the phases in long-term B2B customer relationships.
Findings
Long-term B2B customer relationships evolve at the interpersonal level through a process of continuous relational cost and reward evaluation, self-disclosure and business disclosure in three phases: becoming business partners, collaborative partners and collaborative and personal partners. The reward evaluations progress from being business related to including even more relational benefits. Disclosure progresses through general business disclosure and general self-disclosure; strategic business disclosure and personal life self-disclosure; and synergistic business disclosure and private self-disclosure.
Research limitations/implications
The long-term B2B customer relationships could be studied at the interpersonal level from the customer’s perspective. Self-disclosure could be studied in cross-cultural settings as well as gender differences should be considered in future studies. Business and social penetration theory could be applied to investigate different types of relationships and other professional relationships, such as those between employers and employees. It would be important to test whether the business-related and self-disclosure subtypes apply to the development of other types of professional relationships or whether other disclosure subtypes exist. The authors recommend exploring salespeople’s and customers’ privacy management strategies in multiple communication channels.
Practical implications
Managers may apply the results of this study in their customer relationship management and sales training.
Originality/value
The findings outline a contextual extension of social penetration theory.
Journal Article
Building With Bricks and Mortar: The Revenue Impact of Opening Physical Stores in a Multichannel Environment
•We assess revenue impact of adding bricks-and-mortar stores as a transaction channel.•We analyze frequency and size of orders, returns, and exchanges.•Store introduction mostly cannibalizes catalog sales frequency.•Store introduction increases returns and exchanges, and lifts total revenue by 20%.
A crucial decision firms face today is which channels they should make available to customers for transactions. We assess the revenue impact of adding bricks-and-mortar stores to a firm's already existing repertoire of catalog and Internet channels. We decompose the revenue impact into customer acquisition, frequency of orders, returns, and exchanges, and size of orders, returns, and exchanges. We use a multivariate baseline method to assess the impact of adding the physical store channel on these revenue components. As hypothesized, store introduction cannibalizes catalog sales and has much less impact on Internet sales. Also as hypothesized, returns and exchanges increase. Interestingly, transaction sizes of purchases, returns, and exchanges do not change. The “availability effect” produces a net increase in purchase frequency across channels. This more than compensates for increased returns, producing a net increase in revenues of 20% by adding the store channel. Our findings yield a deeper understanding of the revenue relation between channels, and of the dynamic cross-channel effects of marketing actions.
Journal Article
The Squeaky Wheel Gets the Grease—An Empirical Analysis of Customer Voice and Firm Intervention on Twitter
Firms are increasingly engaging with customers on social media. Despite this heightened interest, guidance for effective engagement is lacking. In this study, we investigate customers’ compliments and complaints and firms’ service interventions on social media. We develop a dynamic choice model that explicitly accounts for the evolutions of both customers’ voicing decisions and their relationships with the firm. Voices are driven by both the customers’ underlying relationships and other factors such as redress seeking. We estimate the model using a unique data set of customer voices and service interventions on Twitter. We find that redress seeking is a major driver of customer complaints, and although service intervention improves relationships, it also encourages more complaints later. Because of this dual effect, firms are likely to underestimate the returns on service intervention if measured using only voices. Furthermore, we find an “error-correction” effect in certain situations, where customers compliment or complain when others voice the opposite opinions. Finally, we characterize the distinct voicing tendencies in different relationship states, and show that uncovering the underlying relationship states enables effective targeting. We are among the first to analyze individual customer level voice dynamics and to evaluate the effects of service intervention on social media.
Journal Article
Understanding Impact Sustainable Intention of S-Commerce Activities: The Role of Customer Experiences, Perceived Value, and Mediation of Relationship Quality
Business activities using social media are currently growing and its development has intrigued practitioners and academics. The purpose of doing this present research is to build a conceptual model, which connects the concepts of customer perceived value and customer experiences with the concept of customer relationship quality to produce sustainable customer intention in social media commerce. Considering the results of two exogenous constructions, namely customer perceived value and customer experience, it can be concluded that both have an impact on relationship quality and customer sustainable intention. In this study, there are six hypotheses, consisting of five accepted hypotheses and one rejected hypothesis. After doing a deeper analysis, it is revealed that good relationship quality determines the significance of sustainable customer intention. In addition, this conducted research examines and experimentally confirms the role of customer perceived value and the customer experience in determining relationship quality and sustainability of customers founded in social media commerce. The novelty shown in this study lies in the integration of two exogenous variables, namely customer perceived value and customer experience, with the variables of relationship quality and customer sustainability intention. Finally, the findings provide theoretical, managerial, and social value and impact for academics, practitioners, and society.
Journal Article
Customer Knowledge Management in SMEs Facing Digital Transformation
This paper provided a novel definition of customer knowledge management (CKM) as the logical intersection of customer relationship management (CRM) and knowledge management (KM). The main aim was to investigate the digital technologies supporting small and medium enterprises (SMEs) operating in creative industries in their customer knowledge management strategies. To achieve this aim, a survey involving 73 handicraft and/or retail SMEs operating in luxury jewelry industry was conducted. The survey results pointed out that in a few years the scenario has changed and that surveyed SMEs make more intensive use of traditional technologies supporting customer knowledge management processes rather than more innovative digital technologies, which are also cheap and easy to use. This finding showed the difficulties of SMEs operating in creative industries to be responsive to the rapid technological changes that are affecting CKM, as well as the lack of support from information technology vendors in the decision-making process for choosing adequate digital systems.
Journal Article
Detecting customers knowledge from social media big data: toward an integrated methodological framework based on netnography and business analytics
Purpose
This paper aims to demonstrate how the integration of netnography and business analytics can support companies in the process of value creation from social big data by leveraging on customer relationship management and customer knowledge management (CKM).
Design/methodology/approach
This paper adopts the methodology of a single case study by using desk analysis, netnography and business analytics. The context of analysis has been identified into the case of Aurora Company, a well-known producer of fountain pens.
Findings
The case demonstrates how the integration of big data analytics and netnography is relevant for the development of a customer relationship management strategy. The results obtained have been categorized according to the three main categories of customer knowledge, such as knowledge for, from and about customer.
Research limitations/implications
This paper presents implications for the advancement of the theory on CKM by demonstrating, as the acquisition, storage and management of data generated by customers on social media require the adoption of a cross-disciplinary approach resulting from the integration of qualitative and quantitative approaches. The framework is structured as methodological tool to detect knowledge in virtual community.
Practical implications
Practical implications arise for managers and entrepreneurs in terms of value creation from knowledge assets generated on social big data through the management of the customers’ relationship and data-driven innovation patterns.
Originality/value
This paper offers an original contribution of integration of well-established research streams. The focus on the knowledge under the perspectives of information assets for, from and about customers in the debate on value creation and management of big data is an element of value offered by this study in addition to the comprehension of strategies of social customer relationship management as actual initiative embraced by a company in the leveraging of innovation and tradition.
Journal Article