Incorporating word-of-mouth effects in estimating customer lifetime value
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چکیده
منابع مشابه
Incorporating word - of - mouth effects in estimating customer lifetime value
The benefi t of managing customer relationship by inputs (acquisition and retention costs) and outputs (revenues) for each customer is that marketing managers can better prioritise their efforts by examining the return on marketing investment and thus better differentiate customers by their relative benefi ts and costs. Valuing customers and measuring marketing effect using only direct fi nanci...
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With the rapid development of IT technology and fierce competition of market, the customer relationship management(CRM) has gained its importance in the market. Companies have attached importance to acquiring and retaining the most profitable customers. So calculating customer’s value is a significant segment for every effective CRM. Many researches have been performed to calculate customer’s v...
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Abstract Customer Lifetime Value (CLV) is known as an important concept in marketing and management of organizations to increase the captured profitability. Total value that a customer produces during his/her lifetime is named customer lifetime value. The generated value can be calculated through different methods. Each method considers different parameters. Due to the industry, firm, business...
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Today, people are increasingly connected and extensively interact with each other using technology-enabled media. Hence, customers are more frequently exposed to social influence of other customers when making purchase decisions. However, established approaches for customer valuation most widely neglect network effects based on social influence leading to a misallocation of resources. Therefore...
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Being able to measure customer value is a prerequisite for effective customer relationship management and data-driven marketing strategy, as it allows to maximize return on marketing investment, particularly when resources are limited. While past profitability is certainly a useful metric, it is insufficient when trying to predict which customers are going to be most valuable in the future so a...
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ژورنال
عنوان ژورنال: Journal of Database Marketing & Customer Strategy Management
سال: 2006
ISSN: 1741-2447
DOI: 10.1057/palgrave.dbm.3250033