Driving shareholder value with customer asset management: Moving beyond customer lifetime value |
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| Institution: | 1. Hanken School of Economics, Finland;2. University of Auckland Business School, Private Bag 92019, Auckland 1142, New Zealand;1. Sheffield Management School, The University of Sheffield, Conduit Road, Sheffield S10 1FL, United Kingdom;2. Hull University Business School, University of Hull, Cottingham Road, E. Yorks, Hull HU6 7RX, United Kingdom;1. Technische Universität Braunschweig, Institute of Automotive Management and Industrial Production, Schleinitzstr. 23a, 38106 Braunschweig, Germany;2. Department of Marketing, TU Dortmund University, Otto-Hahn-Str. 6, 44221 Dortmund, Germany;3. Newcastle University Business School, 5 Barrack Road, Newcastle upon Tyne NE1 4SE, United Kingdom;1. Department of Marketing, Norwegian Business School, 0442 Oslo, Norway;2. Department of Innovation and Economic Organisation, Norwegian Business School, 0442 Oslo, Norway;1. University of Auckland Business School, Private Bag 92019, Auckland, 1142, New Zealand;2. Universität Hamburg, Department of Informatics, Vogt-Koelln-Strasse 30, 20527 Hamburg, Germany;3. University of California, Merced, 5200 N. Lake Road, Merced, CA 95343, USA |
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| Abstract: | Customer relationships can be conceptualized as market-based assets. Links have been shown between management of these assets and the creation of shareholder value. However, the business-to-business applications of customer asset management seem to lag behind the applications suggested in a business-to-consumer context. This occurrence is possibly related to an over-emphasis on customer lifetime value-based approaches that do not cover the complexities of business-to-business relationships. The authors posit that customer asset management applications should pay attention to all four drivers of shareholder value: revenue, cost, assets, and risk. Using as their basis a review of literature and the findings of an empirical research process consisting of three longitudinal case studies, the authors develop a conceptual framework, identify four research propositions, and outline 11 ways of managing business-to-business customer relationships for increased shareholder value. The findings from the case studies suggest that B2B firms are able to acknowledge all suggested shareholder value drivers. Findings also suggest that firms should develop customer portfolio models and differentiate their customer management concepts in order to move customer asset management beyond traditional acquisition–retention optimization. |
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