Executing on a customer engagement strategy

Executing on a customer engagement strategy J. of the Acad. Mark. Sci. (2017) 45:289–293 DOI 10.1007/s11747-016-0513-6 EDITORIAL Rajkumar Venkatesan Published online: 18 January 2017 Academy of Marketing Science 2017 Introduction product of a consumer’s choice and allows the consumer to reorder these products at the push of a single button. The The relationships between a firm and its customers are objective here is to introduce a device that embeds with con- ever evolving, with growing opportunities to connect to sumers’ everyday routines and improves customer retention rate, share of wallet, purchase frequency, and ultimately cus- other customers and firms through social media and mobile devices. Increased competition and advances in tomer lifetime value (CLV). To improve referrals, Amazon technology that are reducing barriers to entry have mo- allows consumers to Bget $5 when your friends join 1 2 tivated firms to adopt several strategies to build a Prime,^ and the Amazon associates program allows partic- deeper level of attachment with their customers. Such ipants to advertise products and earn up to 10% in referral a strategy is now termed as Bcustomer engagement.^ fees. In 2005, Amazon launched a crowdsourcing marketplace Reflective of the trend toward customer engagement, called Amazon Mechanical Turk (mTurk) to improve improve http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of the Academy of Marketing Science Springer Journals

Executing on a customer engagement strategy

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Abstract

J. of the Acad. Mark. Sci. (2017) 45:289–293 DOI 10.1007/s11747-016-0513-6 EDITORIAL Rajkumar Venkatesan Published online: 18 January 2017 Academy of Marketing Science 2017 Introduction product of a consumer’s choice and allows the consumer to reorder these products at the push of a single button. The The relationships between a firm and its customers are objective here is to introduce a device that embeds with con- ever evolving, with growing opportunities to connect to sumers’ everyday routines and improves customer retention rate, share of wallet, purchase frequency, and ultimately cus- other customers and firms through social media and mobile devices. Increased competition and advances in tomer lifetime value (CLV). To improve referrals, Amazon technology that are reducing barriers to entry have mo- allows consumers to Bget $5 when your friends join 1 2 tivated firms to adopt several strategies to build a Prime,^ and the Amazon associates program allows partic- deeper level of attachment with their customers. Such ipants to advertise products and earn up to 10% in referral a strategy is now termed as Bcustomer engagement.^ fees. In 2005, Amazon launched a crowdsourcing marketplace Reflective of the trend toward customer engagement, called Amazon Mechanical Turk (mTurk) to improve improve

Journal

Journal of the Academy of Marketing ScienceSpringer Journals

Published: Jan 18, 2017

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