Customer Acquisition Research Articles

Customer performance and non-financial organizational performance of the Nepalese cellular telecommunications industry

The study assessed a product or service by customers that met their needs and aspirations. It sought to examine the influence of non-financial customer performance (CP) measures on non-financial organizational performance (NFOP) in the Nepalese cellular telecommunications industry (NCTI). Using a structured questionnaire survey instrument, it employed a descriptive research approach. This study’s population included all the global system for mobile (GSM) customers of Nepal Telecom (NT) and Ncell. The sample comprised 385 customers delineated through non-probability sampling techniques. The study’s targeted respondents were postgraduate understudies, service holders, business people, and self-employed individuals. The survey instrument was composed of three sections comprising 28 data collection questions. A statistical package for the social sciences (SPSS) and analysis of moment structures (AMOS) programming were used to analyze the collected data. The study applied confirmatory factor analysis (CFA), path analysis (PA), and structural equation modeling (SEM) to evaluate the significance of the hypothesized paths. It was found that CP had a positive and significant relationship with NFOP in NCTI, with customer retention (CR) being a better predictor, followed by customer loyalty (CL), customer satisfaction (CS), and customer acquisition (CA). This was a cited representative study, not exhaustive, and would help to understand the key drivers of CP in the NCTI.

Your receipt is in the bag: Service and temporal effects as factors of customer engagement formation during acquisition

The current study examines how customer engagement initially develops during customer acquisition. The study utilizes a factorial design with videos to represent positive/negative experiences over the course of a potential acquisition. Findings suggest a positive acquisition experience leads to positive customer engagement. Findings also reflect a strong recency effect in that the last interaction of the service encounter provides the strongest impact on customer engagement. As a result, analysis leads to the recommendation that managers focus more on specific events and less on a cumulative impact in order to develop positive customer engagement during acquisition.

The overarching role of international marketing: Relevance and centrality in research and practice

Classic business literature asserts the central role of marketing as foundational to the existence of organizations, and further notes that marketing must permeate all areas of a business enterprise. Leveraging this premise, we examine marketing scholars’ contributions to the international business (IB) literature – specifically notable works in exporting and market entry. Despite the overarching role of marketing in business, our systematic examination of published works in JIBS identified only 11 marketing contributions among the top 100 most frequently cited publications. More recent Web of Science data for the most cited contributions since 2015 demonstrate a decline in the number of international marketing (IM) and IB-related contributions by marketing scholars. Our goal in this editorial is to re-emphasize marketing’s critical importance and centrality in IB research, especially with reference to its dominant role in such areas as exporting and market entry decisions, customer acquisition, and relationship management. This special issue is intended to highlight IM and to motivate more contributions by IM scholars, as well as to call for greater integration of marketing thought in IB research.

Cultural distance and customer orientation strategy of Chinese service MNEs under the belt and road initiative

PurposeThe purpose of this paper is to explore mechanisms of cultural distance in the base of Chinese Service Multi-National Enterprise (MNE) settings. When attempting to enter overseas markets, many service MNEs face challenges caused by the cultural distance between the home and host countries. Culture distance attracts much attention in academia and industry. However, there are few empirical works to examine how cultural distance affects customer orientation strategies in a global supply chain. This paper aims to answer the following research question: How is the effect of cultural distance on customer acquisition and customer retention strategies, and the effect of customer orientation strategies on the performance of service-oriented MNEs controlled by Chinese capital along the Belt and Road Initiative?Design/methodology/approachThis paper examines the effect of cultural distance on the customer acquisition strategy and customer retention strategy, and the effect of customer orientation strategies on the performance of Chinese Service MNEs. A large-scale empirical study of Chinese Service MNEs operating in overseas markets is performed and questionnaires were distributed and collected. This paper uses Hofstede's method (Hofstede, 2010), Schwartz's method (Schwartz, 2003) and House et al.'s method (House et al., 2004) to calculate cultural distance. By using each kind of method, this study calculates the absolute culture distance and relative culture distance respectively.FindingsThe results suggest that cultural distance negatively affects customer orientation strategy, customer acquisition strategy positively affects performance and the interaction of customer acquisition and customer retention positively affects performance.Research limitations/implicationsThis study aims to contribute to the existing literature with a more fine-grained understanding of the inclusion of customer orientation strategy of Chinese Service MNEs in global supply chains.Practical implicationsThe findings outline several important implications that Chinese Service MNEs seeking to expand to overseas markets.Originality/valueThis paper contributes a novel, combined perspective of culture distance and customer orientation strategy.

Perceived benefits of CRM in selected Industries

Customer Relationship Management (CRM) is an enterprise approach to understand and influence customer behavior through meaningful communication in order to improve customer acquisition, customer loyalty and customer profitability. CRM can be viewed as an approach to accomplish upper hand. In addition, CRM is tied in with recognizing an organization's best customers and augmenting the incentive from them by satisfying and retaining those. CRM can be seen as a way to achieve competitive advantage. Therefore, the definition for CRM is “A business strategy to manage interactive customer relationships to optimize long-term customer value and satisfaction”. The aim of this paper is to identify and seek the opinion of the marketing and technical people in service and manufacturing organizations with regard to perceived benefits of CRM which are the promises of software package before implementation are realized through the implementation of CRM in both service and manufacturing industries.

Same Old Song with a Different Melody: The Paradox of Market Reach and Financial Performance on Digital Platforms

AbstractIn the service sector, digital platforms now enable service providers to reach customers through an online marketplace and use the value‐adding complementary services offered. However, despite the widespread prevalence of digital platforms, there has been little research on the market reach and financial performance captured by service providers. We explored these service provider‐specific outcomes of digital platforms by studying a digital platform in the beauty industry. Our results show that digital platforms present a troubling paradox for service providers participating in a platform‐based online marketplace: despite increases in market reach, in terms of a higher rate of new customer acquisition, those service providers participating in the marketplace have lower sales than others. However, the ‘dark side’ of this paradox is compensated by higher sales for service providers using more of the complementary services offered by the platform. Hence, although digital platforms may open new markets and add value, service providers should be wary of their paradoxical consequences. With these findings, we contribute new theoretical and managerial insight about the service provider‐specific outcomes of digital platforms and add to the ongoing debate about firm strategies in the digital age concerning the platform economy.

CRM system and potential customer loyalty trends: Some evidence of customer engagement

This present paper aims to validate the relationship between loyalty programs and to recognize the value of implementing CRM systems by the dimensions of CRM realize and commercial banks. This article also presents an emerging CRM research literature as CRM's customer-focused component, investigating the relationship between CRM and customer loyalty. By implementing robust information management, CRM aims to improve customer interactions through a portfolio of trust-building activities. Simultaneously, most CRM literature focuses on banks designing and executing CRM initiatives. The current research explored various customer loyalty determinants but pay less attention to understanding the relationship between product dimensions and fundamental loyalty mechanisms. The study used both quantitative and qualitative data, focusing on Saudi banks' CRM dimensions and customer loyalty. The Data were collected using surveys and interviews. The finding of this study indicates that the basis of the relationship between the bank and customers is the element of credibility and security privacy and confidentiality of information. However, customer acquisition practiced more than preserving customers (contact, quality of service, market response). Building relationships with them, so the Bank services focused on the retention customers and building relationships with them in the short term, because it is a Less cost, and ameliorate part of customer segmentation actual and potential market of banks on the long term strategy. The study enriches the banking literature on how to implement customer relationship management (CRM) in financial institutions. This topic has not been discussed mainly in the Middle East except in a few studies. Despite the challenges facing banks in light of the spread of Fintech companies and their repercussions on banks operating in the region.

Competitive Entry of Information Goods Under Quality Uncertainty

When confronted with a new product, consumers often find it difficult to predict how it will perform, and such uncertainty reduces consumers’ willingness to adopt the product. In this paper, we consider a market whereby consumers decide when and which product to buy, given that they know the product quality of the incumbent but are uncertain about that of the entrant. We investigate how consumer uncertainty about product quality affects firms’ behavior-based pricing and customer acquisition and retention dynamics. Using a two-period vertical model, we find that, under high-end encroachment, an increase in consumer uncertainty reduces the entrant’s profit and hurts the incumbent’s profit when the quality differential between the products is relatively small, whereas, under low-end encroachment, increasing uncertainty not only benefits the incumbent but also can favor the entrant. An important implication for entrants is that the marketing activities, which aim to reduce consumer uncertainty about product functionalities, may fail to improve profitability. We also find that the entrant lowers the price for uninformed customers and raises the price for repeat buyers under high-end encroachment but lowers the price for all customers under low-end encroachment. We further examine the subsidy strategy and show that, when the entrant’s product has a significant quality advantage and consumer uncertainty is high but not very high, the optimal strategy for the entrant is to acquire all consumers who do not buy from the incumbent by providing subsidies and to drop the low-valuation customers by means of a high price after their uncertainty is resolved. This paper was accepted by Anandhi Bharadwaj, information systems.

Understanding the Role of Brand Salience in Brand Choice Decisions in the Charity Sector

Despite the importance of branding in customer acquisition, little is known about the extent to which brand salience influences brand choice intention of new customers. Drawing upon associative network memory theory, we propose that brand salience is composed of brand prominence and brand distinctiveness, which are linked to brand choice intention of new customers. Our theoretical contention was empirically examined in the context of monetary donation to international aid-related charities by new donors. A mixed-method approach was utilized with semi-structured interviews with practitioners and donors, and two cross-sectional surveys. The study offers a holistic view for understanding brand salience and, as such, advances recent work focusing on the breadth and depth of brand associations in the customer’s mind.

UNDERSTANDING ADOPTION FACTORS OF SUBSCRIPTION BASED ENTERTAINMENT SERVICES AMONG CONSUMERS IN INDIA

The market of subscription-based entertainment services in India has grown in the last few years, due to the changing lifestyle, preferences and the deluge of choices that are there for the customers. There has been a substantial increase in Customer acquisition especially in paid streaming video, music and gaming subscriptions. People are adding new services to have access to new and diversified content which is more personalized and offer them a more enriching experience. The market for subscription model-based entertainment services in India has seen growing trends and offers an opportunity to understand the consumer preferences better. A trend in Indian customers has shown the preference of streaming services over buying or downloading it. The objective of this paper is to identify the factors influencing the subscribing intention of the entertainment services in India. In this paper, quantitative descriptive cross-sectional research design has been used, a hundred and fifty-four people were chosen through a systematic random sampling technique from different demographics. The people were categorised into different age groups such as Gen-Z (14-23 years), Millennials (24-37 years) and Gen-X (38-54 years) and then their preferences were studied based on their answers in survey questionnaire. Along with age there were other demographic factors that were taken into consideration to draw the conclusions. In general, descriptive results show that the interviewed consumers have subscribed to these channels and the consumer base for these services is here to stay.

A framework for variance analysis of customer equity based on a Markov chain model

This study proposes a framework for variance analysis of customer equity (CE) based on a Markov chain model called the Leslie matrix, developed in mathematical biology. Because customer lifetime value represents the net present value of customer derived cashflow, CE can be characterized as a forward-looking measure. Numerous studies have addressed the use of CE for planning. However, few studies have utilized CE for control. When CE is used as a basis for control, variance analysis is indispensable. In the proposed framework, CE variance is divided into three parts: customer payoff variance, customer lifecycle variance, and customer state variance. Thereafter, customer lifecycle variance is further broken down into customer acquisition, retention, and expansion. The aforementioned framework was applied to membership customers of a Japanese resort hotel chain. The results revealed that customer retention was a major cause of CE variance, whereas customer acquisition and expansion had a smaller impact.

Marketing Strategies Used by Hospitality Businesses in Times of Crisis of the COVID-19 Pandemic: Case Study

A crisis is a state of tension that occurs at an unexpected time and significantly affects business continuity. The tourism sector is susceptible to being impacted by its multi-purpose structure—natural disasters, terrorist incidents, epidemics, political tensions, economic fluctuations, etc. By creating a problem, it can cause the accommodation business to lose tourists at any time. Developing new products, shifting to alternative tourism markets, and reducing costs may be options for businesses. However, because every crisis is different, managers must determine the most appropriate strategy for the problem. Effective crisis management is made possible by strategic control. With the application of smart strategic management, crises can be turned into opportunities. With the Covid-19 outbreak, many hotel businesses have had to reconsider their marketing strategies. In this research, a case study was conducted at the four-star Prime Park Hotel in Bandung. This study aims to determine how hotels are affected by the Pandemic and determine what kind of marketing strategies they employ in dealing with this crisis. It has been observed that Hotel Prime Park, whose customer base consists of foreign tourists arriving from the Far East on package tours before the Pandemic, was negatively affected by domestic and international travel restrictions that started with the Pandemic. Hotel management has mostly followed a market share strategy and cost reduction, and customer acquisition.

Customer service complex: three-stage model

Good customer service is not a new concept for the enterprises but the development of a holistic customer-oriented service model will be a critical way to increase the value of the business and promote products and services to achieve enterprise sustainability and innovation in the digital age. The article presents the results of research aimed at developing a modern model of integrated customer service. The idea to combine several marketing complexes to build a system of "customer acquisition" was presented. A three-stage model has been developed the use of which will allow the company to determine and understand the directions of development of its service and on this basis to achieve its goals. The conditions for the implementation of this model are discussed.

Data governance: The path to a data-driven culture

Companies have invested time, money and resources into expanding the depth and breadth of data available to them. However, most organisations struggle to use their data in their decision making. In order to enjoy a return on their investments, organisations need to create a data-driven culture. A data-driven culture is proven to improve customer acquisition, retention and profitability. The gap between having the data and using the data lies in data governance. This paper walks readers through four pillars of data governance. By breaking down each pillar into six key focus areas, readers can better understand how each pillar helps to create a data-driven culture.

New Media User Behaviour Research Based on Big Data Analysis

With the rapid development of diversified business models and market segments in the era of big data, many industries are facing the dual challenges of high customer acquisition costs and churn rates. How to accurately obtain user behavior data has become a top priority. This article uses big data technology to scientifically analyze the ratings and behavior data of new media users. Through new media user behavior analysis, we can accurately discover user behavior characteristics, optimize users’ personalized experience, and bring better new media business operations—basis for decision-making.

코칭의 미래 발전 방향을 위한 토마스 레너드의 코칭에 대한 탐색적 연구

The purpose of this study is to explore the coaching of Thomas Leonard, who is recognized as the father of modern coaching, for the future development direction of coaching. In order to achieve this object, this study reviewed and analyzed the Thomas Leonard's Coaching System in terms of essential, practical and academic aspects of coaching. The main results of this study are the following. First, Thomas Leonard's coaching is sufficient to establish itself as an independent field that is very different from other help professionals such as counseling, psychotherapy, and consulting. Coaching has a unique paradigm such as a ‘who paradigm’, a ‘pull paradigm’, and an ‘outcome paradigm’, which are completely different from the other helping professions. Second, Thomas Leonard's coaching is sufficient for a professional coach to have the ability to excel in coaching. Thomas Leonard structured coaching by creating a system that anyone can easily excel in coaching. Third, Thomas Leonard's coaching is enough to be the cornerstone of establishing coaching as a new study. The six books written by Thomas Leonard, the coaching training curriculum he developed, and the coaching system developed after 20 years of research, can be the basis for establishing a coaching science. This study will lead to more research and applications of Thomas Leonard's coaching, and will open the door to the growth of professional coaches and customer acquisition.

Leveraging IOT and AI for delivering tailor-made customer experiences in Indian petro retailing

Objectives: To explore the applicability and impact of deploying an IOT & AI solution (CCTV-based solution) on customer experience at a fuel retail outlet. Method: CCTV-based IOT & AI solution is used for capturing customer details, ensuring safety and service protocol implementation. A technologyled approach toward ensuring service delivery, enhanced customer experience and their satisfaction. The experiment was conducted at one of the fuel stations in the city of Mumbai and studied for the period of Aug- Oct 2020. The analysis is carried out on the data gathered during the period. Findings: Our research has shown the utility of a CCTV-based solution for identification, capturing & accessing customer movement & behavior on the fuel station forecourt. It is also found effective for capturing safe practices which intern gives a sense of safety thus leading to customer satisfaction. Thus, research showed that IOT implementation can yield significant benefits towards customer identification, increase in operational efficiency and customer acquisition, retention & satisfaction thus leading to enhanced customer experience and increased sales. Novelty : The study is the first of its kind towards the application of CCTV-based solutions on customer experience in Indian Petro Retailing. Keywords: IOT; Indian fuel retail; IOT in oil & gas; new technology adoption; customer experience; customer identification

Confocal imaging capacity on a widefield microscope using a spatial light modulator.

Confocal microscopes can reject out-of-focus and scattered light; however, widefield microscopes are far more common in biological laboratories due to their accessibility and lower cost. We report confocal imaging capacity on a widefield microscope by adding a spatial light modulator (SLM) and utilizing custom illumination and acquisition methods. We discuss our illumination strategy and compare several procedures for postprocessing the acquired image data. We assessed the performance of this system for rejecting out-of-focus light by comparing images taken at 1.4 NA using our widefield microscope, our SLM-enhanced setup, and a commercial confocal microscope. The optical sectioning capability, assessed on thin fluorescent film, was 0.85 ± 0.04 μm for our SLM-enhanced setup and 0.68 ± 0.04 μm for a confocal microscope, while a widefield microscope exhibited no sectioning capability. We demonstrate our setup by imaging the same set of neurons in C. elegans on widefield, SLM, and confocal microscopes. SLM enhancement greatly reduces background from the cell body, allowing visualization of dim fibers nearby. Our SLM-enhanced setup identified 96% of the dim neuronal fibers seen in confocal images while a widefield microscope only identified 50% of the same fibers. Our microscope add-on represents a very simple (2-component) and inexpensive (<$600) approach to enable widefield microscopes to optically section thick samples.

The Role of Fintech Firms in Contemporary Financial Sector Development

The development of new technologies provided by Information and communication technologies, robotics, artificial intelligence and their application have an essential influence on the business model of the financial sector companies. Changes are taking place through a variety of technology processes in different industries of the financial sector such as payment systems (including cryptocurrencies, smart chaining), customer acquisition and management, crowdfunding, P2P lending. The aim of the research is to study the role of Fintech firms in the changes in the financial sector landscape, as well dynamics of changes in investments in Fintech by regions and by segments. This study provides empirical evidence on the development of alternative financial services and their role in the development of the financial sector. Based on the research results there is strong evidence about statistically significant difference between investments allocated to Fintech firms by regions and vintage. There have been changes in the regional distribution of investment, with North America (85-90%) dominating in the first years of the decade, and Asia and the Pacific accounting for more than a third and Europe for more than 20% of total investment in recent years. Contemporary statistics data analysis also indicates different trends in investments in various Fintech segments by years.

ПРИМЕНЕНИЕ МЕТОДОВ НЕЙРОМАРКЕТИНГА В БАНКОВСКОМ СЕКТОРЕ РОССИЙСКОЙ ФЕДЕРАЦИИ

In a pandemic, the banking sector of the Russian Federation faced many economic problems. One of these challenges is customer acquisition and retention. In addition to the traditional "marketing mix", tools and methods of innovative marketing are becoming more widespread, which include neuromarketing and Internet marketing. Neuromarketing methods have shown their effectiveness on foreign platforms, therefore, considering their use in the financial sector of Russia is a new non-standard way to attract new customers and increase loyalty of old customers.&#x0D; In this article, the author provides information on the methods of neuromarketing used, which include: electrical activity of the skin; monitoring the cardiovascular system; eye-tracking; functional magnetic resonance imaging (MRI); electroencephalography (EEG); electromyography (fEMG); analysis of human mimic reactions. Based on the well-known emotional triggers of a person (sight, smell, touch, hearing, taste), marketing tools are presented that are used in the banking sector of the Russian Federation.&#x0D; The analysis of neuromarketing tools in the TOP-5 banks in terms of profit for 2020 was also carried out. Recommendations on the use of new tools are offered and conclusions are drawn about the situation with the use of neuromarketing in the Russian Federation.