Assessing the implications on performance when aligning customer lifetime value calculations with religious faith groups and afterlifetime values - a Socratic elenchus approach

Abstract

Customer lifetime value (CLV) is an established relationship marketing-centric approach to evaluating performance: based upon the significance of a customer, and what resources should be allocated towards maintaining relations - beyond short-term transactional views. The conceptual argument presented in this paper contributes one very simple, yet significant argument, which is both transactional and relational. Namely, a large portion of humanity believes in a life beyond current existence - the afterlife. Therefore, death in the psyche of such a person does not terminate benefit seeking, and there is value in the afterlife. The aim here is to refine value-based calculations, drawing from varying religious perspectives: reincarnation, heaven, and enlightenment, amongst others. A particular focus has been given to Islamic schools of thought and practices, as a test case and in response to market growth and interest trends. The method adopted uses a conceptual Socratic elenchus approach - drawing from interpretive phenomenological analysis and syllogisms, building on allegorical anecdotal evidence. The paper ends with a proposal for a four-step managerial decision model that may reformulate branding strategies, based upon maximising the sum of CLV and customer afterlife time value (CALV).