Customer Lifetime Value as the Basis of Customer Segmentation

SUMMARY

In this article, we examine current trends in customer life-time value and customer segmentation models and identify key issues for future research. CLV-based segmentation is a segmentation approach that groups customers into meaningful segments based upon customer lifetime value and (potentially) other factors. In the article, we discuss the extent to which CLV-based segmentation meets the criteria for effective segmentation. We also identify six areas for future research: (1) models and management of “micro-segments,” (2) using CLV-based segmentation to improve the efficiency of marketing programs, (3) the need for more dynamic CLV-based segmentation models, (4) applying CLV-based customer segmentation to new products and new customers, (5) challenges associated with implementing CLV-based segmentation, and (6) the need for new models that enable firms to segment customers by response to marketing activities and CLV at different points in the customer decision process.     

客户关系管理的研究现状、不足和未来展望

本文认为,企业实施客户关系管理的动因主要有顾客角色的变化与交换双方权力的转移,超强竞争环境,营销管理重心的转变以及互联网等通讯基础设施与技术的蓬勃发展等四个方面。目前客户关系管理研究中的主要问题是狭隘地理解客户关系管理,仅仅将其看作是一种管理软件;顾客权益的内涵尚不明确;尚未找到一种能够平衡顾客价值与企业价值的绩效评价方法;对顾客知识的研究基本空白等。文章还指出了未来客户关系管理研究的四大主要领域,即顾客权益合理内涵、评价方法与驱动因素及其在CRM中的应用;顾客价值的内涵多维动态评价体系、创造机制与驱动因素;顾客知识管理模型与数据挖掘技术的运用以及价值导向型客户关系管理的实施流程与竞争能力等。     

论现代企业的顾客满意观和顾客资产观

“顾客满意观”和“顾客资产观”都产生于顾客导向时代 ,然而两者的内涵不尽相同 ,“顾客资产观”不是对“顾客满意观”否定而是对其拓展和提升 ,是一种追求可持续顾客满意和企业各利益方共同满意的新观念 ,且两者适用于不同的情境。     

Approaches to the Measurement and Management of Customer Value

SUMMARY

Determining and managing customer lifetime value is one of the most important strategic objectives of companies today. This paper critically examines some of the most popular approaches traditionally used to measure the value of customers in a company's portfolio. The methods reviewed include RFM and total revenue approaches to differentiating the value of customers. Although these methods have relative advantages, they have serious drawbacks that limit the ability of managers to accurately assess customer value. An alternative model for the measurement and management of customer value is proposed.     

Dimensions and Implementation Drivers of Customer Equity Management (CEM)—Conceptual Framework,Qualitative Evidence and Preliminary Results of a Quantitative Study

SUMMARY

Customer equity has become a major marketing goal in many industries. In the existing literature on customer equity, there is a strong emphasis on measuring customer equity (or customer lifetime value), while there is a lack of research on how to manage customer equity and how to implement a systematic Customer Equity Management (CEM). In this paper, based on theoretical considerations as well as on qualitative and quantitative research applying confirmatory factor analysis, we identify three dimensions of Customer Equity Management structuring a firm's CEM activities: analytical CEM, strategic CEM and operational CEM. Further, three types of CEM implementation drivers are identified which represent determinants of the three CEM dimensions. We develop measures for both the three CEM dimensions and the three implementation drivers. These measures help companies evaluating their status regarding CEM and represent the basis for empirical studies regarding the determination and effects of CEM.     

Customer Lifetime Value and Firm Valuation

SUMMARY

Unlike most marketing metrics, CLV provides information which is directly relevant to marketing decision makers, non-marketing executives such as CFOs, and financial analysts. This paper highlights why and how CLV is financially relevant. It explicitly compares CLV-based valuation with four finance-oriented methods (DCF, P/E ratio, customer counting, and extrapolation). We also discuss implications for marketing managers, financial executives as well as educators.     

客户作业成本法在客户关系管理中的运用

不同客户给企业带来的利润不同 ,客户间存在的明显差异 ,传统的成本核算方法以产品为导向设计 ,不能识别这种差异 ,不适用于客户关系管理。客户作业成本法以客户为导向 ,采用作业成本法核算客户成本 ,有助于更好的进行客户关系管理 ,帮助企业牢牢抓住最主要的客户。     

Customer Relationship Management: A Strategic Perspective

Over the last decade and a half Customer Relationship Management (CRM) has developed into an area of major significance. However, there is considerable confusion in the academic and managerial literature about what is meant by CRM and how if differs from relationship marketing. Further, despite heavy investment by organizations in CRM, there is extensive reporting of CRM’s failure to achieve anticipated results in the literature. This article reviews the conceptual differences between CRM and relationship marketing and defines these terms. It argues that, in many organizations, CRM failures have occurred through a lack of strategic focus. Key strategic issues are identified. A CRM Strategy Matrix is presented which considers the strategic context of companies and the implications for the development of their CRM strategies. Four alternative approaches towards building customer relationships are identified and migration paths between them are reviewed. Implications for implementing CRM strategy and future research are discussed.

客户关系管理中基于数据挖掘的客户细分研究

客户关系管理(CRM)是适应企业“以产品为中心”到“以客户为中心”的经营模式的战略转移和关系营销的需要而发展起来的新的管理理念,它把在保证企业利益的前提下追求客户满意和客户忠诚作为最终目标。客户细分是客户关系管理系统的核心功能之一,可以对客户获取、客户保持及客户增值等客户关系管理过程提供全面支持,提升客户满意和客户忠诚。     

Customer equity management as formative second-order construct

Despite intensive discussions about customer equity, little research addresses how to manage customer equity from a firm's perspective. Recent literature proposes various concepts of customer equity management but does not feature an empirical study that identifies and quantifies activities that aim explicitly to maximize customer equity. In the current study, the authors develop a formative measurement instrument for customer equity management as a second-order construct that indicates how intensively firms orient their customer management toward customer value and equity. The study presents a complete process for conceptualizing and operationalizing a formative second-order construct, including a thorough literature review, intensive qualitative research, and a quantitative study with 92 customer equity managers. On the basis of this process, the authors model customer equity management as a function of three formative dimensions - customer equity analysis, customer equity strategy, and customer equity actions - measured by several formative indicators. The resulting formative operationalization satisfies the criteria for evaluating formative indexes.     

Customer Selection and Prioritization

Abstract

That a firm benefits most when customers stick around for the long haul is a central premise of relationship marketing. This conviction has manifested itself over the past decade in the form of numerous formal loyalty programs that aim to seek and foster customer relationships. Scant evidence for the success of such programs has accrued since. This has lead firms to re-evaluate their investments in customer relationship management. Optimal resource allocation models address issues of relative investments in customer acquisition versus retention, and on managing relationships with profitable customers so that the value of a firm's customer base is maximized.     

Customer Relationship Management in Electronic Markets

Abstract

Customer relationship management, or CRM, has found increased attention in both the academic and managerial worlds of marketing in recent years. While the Internet has greatly enabled the application of CRM in fostering loyal customers, the preliminary results on the effectiveness and efficiency of technology-based CRM has been far from discouraging. The authors identify various contentious issues behind the various key concepts of relationship management and identify several areas that deserve closer academic scrutiny and managerial inspection. The paper also comments on the extent to which Internet technology can bring about closer relationships with a firm's customers.     

An Investigation of Antecedents for the Development of Customer Support Services in Manufacturing Companies

ABSTRACT

There is widespread agreement in the literature that customer satisfaction is an important driver of organizational performance. However, existing research has tended to focus on only a few variables which mediate the link between customer satisfaction and organizational performance (especially customer loyalty). The goal of this paper is to provide deeper insights into the outcomes of customer satisfaction by studying the link between customer satisfaction and price sensitivity, drawing upon different theoretical perspectives (i.e., transaction cost theory and equity theory). The study is based on a dyadic data set collected from salespeople and their customers across multiple manufacturing and services industries in a business-to-business context. Results indicate the presence of an inverse relationship between customer satisfaction and price sensitivity. Findings also indicate that the link under consideration is particularly strong in the case of high product/service specificity and product/service complexity.     

顾客资产的形成机理与增值策略

在交易营销向关系营销转变过程中 ,关系取代交易成为企业现代营销最重要的目标。基于企业与顾客互动关系内化而成的顾客资产正日益成为企业培育核心竞争力、构建竞争优势的关键资源 ,成为企业竞争成败的决定因素。本文将在全面分析顾客资产的价值内涵基础上 ,用“服务—利润价值链”理论系统解析顾客资产的形成机理 ,并据此进一步提出顾客资产的增值策略。     

顾客参与影响品牌关系质量研究

随着顾客知识的增长及其对独特性需求体验的追求,顾客不仅要求有更大程度的自主性,更把参与过程的主导性体验视为服务体验质量的重要源泉。本文以美发业为研究情境,将顾客心理感知因素作为过程变量,构建顾客参与影响品牌关系质量的研究框架,结果表明顾客参与对顾客感知价值和顾客服务体验均有显著正向影响,而对顾客正面情感的影响则需通过服务体验实现;顾客感知价值、顾客服务体验和顾客正面情感之间均有密切正向关系;顾客感知价值、顾客正面情感均对品牌关系质量有显著正向影响,而服务体验则需通过顾客正面情感和感知价值对品牌关系质量产生作用。     

Examining the Impact of Customer Relationship Management on Deconstructed Measures of Firm Performance

The aggregate measures frequently used to evaluate customer relationship management (CRM) performance may mask the true impact of CRM activities and make it difficult to tease out which activities might be helping (or hurting) the relationship capabilities of the firm. We posit that examining the impact of CRM on individual firm performance indicators provides better diagnostic value for managers. To test our hypothesis, we examine the impact of 6 CRM activities on 4 dimensions of firm performance and compare the results with the impact of the same activities on a composite score of the 4 dimensions. As expected, the pattern of regression coefficients is different between the equation with composite performance as the dependent variable and each of the remaining 4 equations. Managerially speaking, our results provide direction for marketing and customer managers in decision making related to prioritizing CRM activities. Theoretically speaking, they imply that researchers should consider examining the impact of CRM on individual performance dimensions as well.     

第三方物流企业的客户关系建立和维系

拓展客户难,维持客户更难,经济越是不景气,客户资源就越是稀缺,于是建立和维系客户关系就成为重中之重。通过与客户之间建立起长期、良好的合作关系,通过满意的客户介绍和推荐,企业将会挖掘更多的潜在客户,获得更多的物流服务项目,与此同时也就提高了第三方物流企业的市场知名度和美誉度,提高了第三方物流企业的竞争力。     

我国物流企业如何发挥顾客资产的战略竞争优势

对物流企业而言,顾客资产不仅能反映企业当前的盈利能力,而且也能反映物流企业未来的盈利能力,所以我国企业应通过顾客维系和顾客资产经营,发挥顾客资产的战略竞争优势。     

客户关系管理研究进展及其未来发展方向

客户关系管理在过去十多年得到了快速发展。然而目前由于不同学者研究视角和研究出发点等方面差异,他们研究的结论并不相同,甚至是相互矛盾,因此有必要从客户关系管理的理论基础、客户关系管理的内涵及其演进、客户关系管理对组织绩效的影响效应等几个方面对该领域现状进行了系统研究,并在此基础上探明现有研究存在的局限及其未来发展趋势。     

饭店客户关系管理的价值链研究

本文从我国本土饭店客户关系管理现状出发,借用波特的价值链思想,深入分析饭店客户关系管理中的基本活动和辅助活动,以寻求能切实有效地提高饭店客户关系管理水平的途径。其中,文章提出了饭店客户关系管理的价值链模型,并对客户关系管理的基本活动中的客户价值分析、客户获取、客户保留、客户升级和客户联盟构建等主要环节进行了详细阐述,同时也分析了辅助活动中包括领导、组织结构、人力资源管理、组织文化和信息技术等在内的相关影响因素。