A retention strategy based on an enlightened lapse model is a powerful profitability lever for life insurer. Some machine learning models are excellent at predicting lapse, but from the insurer’s perspective, which policyholder likely to not enough design strategy. In our paper, we define management framework with appropriate validation metric Customer Lifetime Value and profitability. We inclu...

This study integrates memorable experience (MEM)into customer engagement (CE) by introducing two composites, namely, lifetime value and influence [CLV/CIV], as proxies for traditional revisit intention. Drawing upon CE theory the service–profit chain framework, our causal-predictive model of CLV CIV extends MEM literature identifying potential antecedents, employee service innovation. Based on ...

RFM and CLV: Using Iso-value Curves for Customer Base Analysis We present a new model that links the well-known RFM (recency, frequency, monetary value) paradigm with customer lifetime value (CLV). While previous researchers have connected the two conceptually, none has presented a formal model that requires nothing more than RFM inputs to make specific lifetime value projections for a set of c...

This study aimed at providing a systematic method to analyze the characteristics of customers’ purchasing behavior in order to improve the performance of customer relationship management system. For this purpose, the improved model of LRFM (including Length, Recency, Frequency, and Monetary indices) was utilized which is now a more common model than the basic RFM model apt for analyzing the cus...

Customer churn, the loss of customers for a company, is one of the biggest loss of revenue for Verizon Wireless and other wireless telecommunications companies. Many companies use the lifetime value of a customer, the expected future cash flow from a particular customer, to determine long-term allocation of resources and human capital. As a result, the sudden defection of customers can greatly ...

This paper proposes a multichannel, multimedia communications framework based on the concept of Customer Lifetime Value. The framework begins with customer information from the company's database, segments the customers based on the value they provide to the company, and advocates sending targeted messages using differentiated modes of communication. The framework also closes the communication ...

background: understanding customers has become an urgent topic for increasing competitiveness. the purpopse of  the study was to develop a qualitative dynamic attribute value model which provides insight into the customers' value for healthcare institute managers by conducting the initial open-ended questionnaire survey to select participants purposefully. methods: a total number of 427 questio...

This research proposes a model that calculates the customer lifetime value and simultaneously considers network effects. An oligopoly market is also considered in which companies compete with each other. Each company has number of buyers sellers offers its services to free while receiving sellers' membership fees return. Interestingly, customers interact other change companies' clients. interac...