Making Customer Relationship Management Work: The Measurement and Profitable Management of Customer Relationships

Lynette J. Ryals

421 citations0/0 files storedJournal of Marketing

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Customer churn and segmentation Customer Service Quality and Loyalty Corporate Governance and Management

Abstract

Customer relationship management (CRM) is perceived to be failing, and there is an urgent need for some practical ways to address this issue. The research presented in this article demonstrates that the implementation of CRM activities delivers greater profits. Using calculations of the lifetime value of customers in two longitudinal case studies, the research finds that customer management strategies change as more is discovered about the value of the customer. These changes lead to better firm performance. The contribution of this article is to show that CRM works and that a relatively straightforward analysis of the value of the customer can make a real difference.

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References

2003Return on Marketing: Using Customer Equity to Focus Marketing Strategy 2003Understanding the Effect of Customer Relationship Management Efforts on Customer Retention and Customer Share Development 1995Long-Term Manufacturer-Supplier Relationships: Do They Pay off for Supplier Firms?2001The Loyalty Effect 2000On the Profitability of Long-Life Customers in a Noncontractual Setting: An Empirical Investigation and Implications for Marketing 2003The Impact of Customer Relationship Characteristics on Profitable Lifetime Duration 1998Customer lifetime value: Marketing models and applications 2005A Customer Relationship Management Roadmap: What is Known, Potential Pitfalls, and Where to Go

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2009Linking marketing capabilities with profit growth 2009The differing and mediating roles of trust and relationship commitment in service relationship maintenance and development 2008Market-based capabilities and financial performance of firms: insights into marketing’s contribution to firm value 2008Customer Prioritization: Does it Pay off, and how Should it be Implemented?

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