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Winning your customers’ minds and hearts: Disentangling the effects of lock-in and affective customer experience on retention
Journal of the Academy of Marketing Science ( IF 18.2 ) Pub Date : 2022-10-06 , DOI: 10.1007/s11747-022-00898-z
Lily Gao , Evert de Haan , Iguácel Melero-Polo , F. Javier Sese

Building barriers to lock in customers and improving the affective customer experience are two key strategies employed by firms to enhance customer retention. Although pursuing the same goal, these strategies work differently: the former relies more on a calculative, cost–benefit approach to the exchange, while the latter promotes affective aspects of the relationship. Integrating experiential learning theory with social exchange theory, we provide a conceptual framework to understand the impact of lock-in and affective customer experience on customer retention, and the moderating role of relationship depth. Using a comprehensive data set for a sample of 13,761 customers covering all firms in one telecom market for two different services, we empirically test the framework via multinomial logit modeling. The results offer novel insights into the interplay between the two strategies. For poor affective customer experience (i.e., a score below five on a 0–10 scale), lock-in helps firms reduce customer churn (between 49.03% and 47.86%). However, the impact of lock-in decreases when affective customer experience improves and turns to be insignificant once the experience reaches the “acceptable level” (i.e., a score above seven on a 0–10 scale). Importantly, the separate and joint effects of the two strategies are stronger when there is a low relationship depth, and weaker when heavy relationships are established. The findings offer useful practical advice to manage these strategies in an efficient and optimal way.



中文翻译:

赢得客户的思想和心灵:解开锁定和情感客户体验对保留的影响

建立障碍以锁定客户和改善情感客户体验是公司提高客户保留率的两个关键策略。尽管追求相同的目标,但这些策略的工作方式不同:前者更多地依赖于计算的、成本效益的交换方法,而后者则促进关系的情感方面。将体验学习理论与社会交换理论相结合,我们提供了一个概念框架来理解锁定和情感客户体验对客户保留的影响,以及关系深度的调节作用。使用包含 13,761 个客户样本的综合数据集,该样本涵盖一个电信市场中所有公司的两种不同服务,我们通过多项 logit 建模对该框架进行了实证测试。结果为这两种策略之间的相互作用提供了新的见解。对于较差的情感客户体验(即,在 0-10 的范围内得分低于 5),锁定有助于公司减少客户流失(49.03% 到 47.86% 之间)。然而,当情感客户体验改善时,锁定的影响会降低,一旦体验达到“可接受的水平”(即在 0-10 的范围内得分高于 7),锁定的影响就会变得微不足道。重要的是,当关系深度较低时,这两种策略的单独和联合效果更强,而在建立重关系时则较弱。这些发现为以有效和最佳方式管理这些策略提供了有用的实用建议。锁定帮助公司减少客户流失(49.03% 到 47.86% 之间)。然而,当情感客户体验改善时,锁定的影响会降低,一旦体验达到“可接受的水平”(即在 0-10 的范围内得分高于 7),锁定的影响就会变得微不足道。重要的是,当关系深度较低时,这两种策略的单独和联合效果更强,而在建立重关系时则较弱。这些发现为以有效和最佳方式管理这些策略提供了有用的实用建议。锁定帮助公司减少客户流失(49.03% 到 47.86% 之间)。然而,当情感客户体验改善时,锁定的影响会降低,一旦体验达到“可接受的水平”(即在 0-10 的范围内得分高于 7),锁定的影响就会变得微不足道。重要的是,当关系深度较低时,这两种策略的单独和联合效果更强,而在建立重关系时则较弱。这些发现为以有效和最佳方式管理这些策略提供了有用的实用建议。当关系深度较低时,两种策略的单独和联合效果更强,而在建立重关系时,两种策略的效果较弱。这些发现为以有效和最佳方式管理这些策略提供了有用的实用建议。当关系深度较低时,两种策略的单独和联合效果更强,而在建立重关系时,两种策略的效果较弱。这些发现为以有效和最佳方式管理这些策略提供了有用的实用建议。

更新日期:2022-10-08
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