 Applications of CRM in B2B and B2C Scenarios Part IIV. Kumar and
Werner Reinartz
Chapter 17 in Customer Relationship Management, 2018, pp 363-384 from Springer Abstract: Abstract This chapter attempts to answer the following questions: (1) What should be the total budget for acquisition and retention? (2) How much should be spent on customer acquisition and customer retention? and (3) How should these expenditures be allocated between contact channels? The links between acquisition, retention, and profitability, as well as, balancing acquisition and retention resources are discussed in reference to maximizing customer profitability. In addition to measuring customer profitability and optimal resource allocation, the chapter also highlights the importance of accurately valuing a customer by defining customer brand value and customer referral value. Also discussed are the linking of customer referral value and customer lifetime value, as well as customer brand value and customer lifetime value, and the managerial implications thereof. Date: 2018 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-662-55381-7_17 Ordering information: This item can be ordered from DOI: 10.1007/978-3-662-55381-7_17 Access Statistics for this chapter More chapters in Springer Texts in Business and Economics from Springer |
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