Unresponsive customers : acquisition, retargeting and win-back
Name
958500552-MIT.pdf
Description
Full printable version
Size
3.56 MB
Format
Adobe PDF
Checksum (MD5)
da1b623a8be901c01fc0cfd7e275b707
Author(s)
Ringvald, Alan O
Rodriguez Garcia, Abraham C
Advisor(s)
Duncan Simester.
Date Issued
2016
Publisher
Massachusetts Institute of Technology
Abstract
With firms losing an average of 25% of their customer base every year, understanding and engaging unresponsive customers has become more critical than ever. We characterize unresponsive customers as either prospects that have never purchased from a firm, or former customers that have not purchased in at least twelve months. Since 55% of all communication is non-verbal, how can online firms cut through the silence and engage these unresponsive customers digitally? Our paper is an exploration into the three current management strategies firms implement to reach the unresponsive customer: acquisition, retargeting, and win-back. Included is an examination into recent technological advancements that provide a new layer of visibility into the behavior and emotion of the unresponsive customer. We also discuss how Emotional Value, which is described as the economic worth of feelings, can be implemented to more effectively win-back customers.
Description
Thesis: M.B.A., Massachusetts Institute of Technology, Sloan School of Management, 2016. (Degree granted to Alan O. Ringvald).
Thesis: S.M. in Management of Technology, Massachusetts Institute of Technology, Sloan School of Management, 2016. (Degree granted to Abraham C. Rodriguez Garcia).
Cataloged from PDF version of thesis.
Includes bibliographical references (pages 39-41).
Subjects
Sloan School of Management.
MIT Department
Sloan School of Management
Terms of Use
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