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Customer equity: a creative tool for SMEs in the services industry

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  • Ward Roofthooft

Abstract

The creative use of “Customer Equity” (CE) can be of interest to SMEs in the services industry.CE concerns: “Customer Acquisition”: Which customer or prospect should be acquired for present profit and future retention? “Customer Retention”: How can customers be made customers for life? “Add-on Selling”: Why selling more to existing customers is more profitable than the quest for new business. The SME can furthermore apply two boosters to its CE policy: “Strategic Alliances”: When interdependence is smarter than independence. “External Economy of Scale”: Competition: if you cannot beat them, join them. Copyright Springer-Verlag 2010

Suggested Citation

  • Ward Roofthooft, 2010. "Customer equity: a creative tool for SMEs in the services industry," Service Business, Springer;Pan-Pacific Business Association, vol. 4(1), pages 37-48, March.
    • Handle: RePEc:spr:svcbiz:v:4:y:2010:i:1:p:37-48
    DOI: 10.1007/s11628-009-0082-6
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    Citations

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    Cited by:

    1. Sojung Kim & Byungun Yoon, 2012. "Developing a process of concept generation for new product-service systems: a QFD and TRIZ-based approach," Service Business, Springer;Pan-Pacific Business Association, vol. 6(3), pages 323-348, September.
    2. Luis Miranda-Gumucio & Ignacio Gil-Pechuán & Daniel Palacios-Marqués, 2013. "An exploratory study of the determinants of switching and loyalty in prepaid cell phone users. An application of concept mapping," Service Business, Springer;Pan-Pacific Business Association, vol. 7(4), pages 603-622, December.
    3. Yong-sook Lee & Woo-jin Shin, 2015. "Marketing tradition-bound products through storytelling: a case study of a Japanese sake brewery," Service Business, Springer;Pan-Pacific Business Association, vol. 9(2), pages 281-295, June.
    4. Insu Cho & Heejun Park & Jeongil Choi, 2011. "The impact of diversity of innovation channels on innovation performance in service firms," Service Business, Springer;Pan-Pacific Business Association, vol. 5(3), pages 277-294, September.
    5. Lai-Yu Cheng & Chih-Wei Yang, 2013. "Conceptual analysis and implementation of an integrated CRM system for service providers," Service Business, Springer;Pan-Pacific Business Association, vol. 7(2), pages 307-328, June.
    6. Jose Roig, 2010. "Introduction," Service Business, Springer;Pan-Pacific Business Association, vol. 4(1), pages 1-7, March.
    7. Insu Cho & Heejun Park & Joseph Kim, 2012. "The moderating effect of innovation protection mechanisms on the competitiveness of service firms," Service Business, Springer;Pan-Pacific Business Association, vol. 6(3), pages 369-386, September.
    8. Pedro Guedes de Carvalho & Zélia Serrasqueiro & Paulo Maças Nunes, 2013. "Profitability determinants of fitness SMEs: Empirical evidence from Portugal using panel data," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(34), pages 417-430, June.

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    Keywords

    Customer equity; SMEs; Services;
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