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The WOW factor: Creating value through win-back offers to reacquire lost customers |
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| Authors: | Mert Tokman Lenita M Davis Katherine N Lemon |
| Institution: | a James Madison University, College of Business, Department of Marketing, MSC 0207, Harrisonburg, VA 22807, USA b The University of Alabama, Culverhouse College of Commerce and Business Administration, Department of Management and Marketing, 132 Alston, Box 87225, Tuscaloosa, AL 35487, USA c Boston College, Wallace E. Carroll School of Management, Department of Marketing, Fulton Hall 444, 140 Commonwealth Avenue, Chestnut Hill, MA 02467, USA |
| Abstract: | Customer reacquisition provides firms with high financial and service improvement benefits. The implications of this research are meant to stimulate a new research stream towards a theory of customer reacquisition management as well as to provide service firms with a framework to regain defected customers. Through two studies, we develop an empirical model that identifies the factors driving win-back offer effectiveness. The findings indicate that, in order for win-back offers to be effective, service providers must consider a customer's reasons for leaving and their relationships with the current service provider. Value determinants (price and service benefits provided in the win-back offer), social capital and service importance play a prominent role in shaping customer switch-back intentions regardless of the level of previous satisfaction, regret, or delight with the new service provider. |
| Keywords: | Customer reacquisition Win-back offer worth Customer relationship management |
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