Handbook of Service Marketing Research
Show Less

Handbook of Service Marketing Research

Edited by Roland T. Rust and Ming-Hui Huang

The Handbook of Service Marketing Research brings together an all-star team of leading researchers in service marketing to explore many of the hottest topics in service marketing today.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 6: Customer engagement: a new frontier in customer value management

Sander F.M. Beckers, Hans Risselada and Peter C. Verhoef


One of the most prominent developments in firms, and specifically within marketing, in the last decades has been the increasing amounts of customer data. This especially holds for service firms, such as banks, insurance companies, hotels, and so on. Service firms frequently interact directly with customers and have stored amounts of data of their customers. Moreover, through the use of loyalty programs, several service firms not interacting directly with customers, such as supermarkets, also have collected detailed knowledge about their customers (Dorotic et al. 2012). Firms have also heavily invested in customer relationship management (CRM) systems. According to Forrester, more than 72 percent of business-to-customer (B2C) firms regard retaining customers as one of their top priorities (Band 2010). Nowadays, firms have developed models to predict customer lifetime value and customer churn (Kumar and Shah 2009; Neslin et al. 2006). This has resulted in an increasing importance of customer value management as an important function within marketing and firms. Conceptually, customer value management (CVM) has its roots in relationship marketing. It entails maximizing the value of a company's customer base and analyzing individual data on prospects and customers. Firms use the resulting information to acquire and retain customers and to drive customer behavior with developed marketing strategies, in such a way that the value of all current and future customers is maximized.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.