Growing existing customers' revenue streams through customer referral programs
GARNEFELD, INA
Growing existing customers' revenue streams through customer referral programs - 2013 - 17-32
Customer referral programs are an effective means of customer acqusition. By assessing a large scale customer data set from a globl cellular telecommuniations provider, the authors show that participation in a referral program also increases existing customers' loyalty. In a field experiment, recommenders' defection rates fell from 19% to 7% with in a year, and their average monthly revenue grew by 11.4% compared with a matched control group.
MARKETING
658.8
Growing existing customers' revenue streams through customer referral programs - 2013 - 17-32
Customer referral programs are an effective means of customer acqusition. By assessing a large scale customer data set from a globl cellular telecommuniations provider, the authors show that participation in a referral program also increases existing customers' loyalty. In a field experiment, recommenders' defection rates fell from 19% to 7% with in a year, and their average monthly revenue grew by 11.4% compared with a matched control group.
MARKETING
658.8