Unresponsive customers : acquisition, retargeting and win-back

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.

Department dc:contributor.department

Sloan School of Management.

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2016

Authors dc:creator

• Ringvald, Alan O
• Rodriguez Garcia, Abraham C

Advisor dc:contributor.advisor

• Duncan Simester.

• Sloan School of Management.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/1721.1/104550

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/104550