Business researchers have begun to pay attention to how an individual's share ownership in a publicly-listed company may influence his/her repeat patronage towards the company's products and services. This article investigates the influence of share ownership on repeat patronage, in conjunction with the influence of customer satisfaction. Survey data of a large sample of customers of a retail bank is examined. The results of the study suggest that an individual's share ownership in a company positively motivates his/her repeat patronage towards the company's services, independently of customer satisfaction. The results also suggest that customers who are simultaneously shareowners of the company will, on average, accept a lower level of customer satisfaction to repeatedly patronize the company and its services than non-share-owning customers.KEYWORDS: stock ownership, repeat patronage, customer satisfaction, switching behaviour, individual investor, customer loyalty ACKNOWLEDGEMENTS: Two of the authors (Aspara, Tikkanen) have received grants from Marcus Wallenberg Foundation as well as Jenny and Antti Wihuri Foundation for research related to the topic.

Purpose – The purpose of this paper is to present a framework for examining the outcome of value facilitation as the added value of service provision. Design/methodology/approach – Value facilitation is conceptualized as enabling, enhancing, and economical support by the service offering, as well as supportiveness by the service provider. The financial value of customers is measured by the augmented customer lifetime value (ACLV). Findings – Referrals is found to mediate the linkage between value facilitation and ACLV. The margin multiple level and corresponding propensity to stay scores are found to be better proxies for setting up a customer oriented service development program, than the customer profit or margin level. Research limitations/implications – This paper takes a service provider perspective on service, even though the customer experience of the service provision is vital. Practical implications – The proposed framework can be used for designing adapted customer strategies for different groups of customers representing different levels of added value of the service provision. Originality/value – This paper extends the normative service logic notion of the role of service providers as value facilitators and supporters of their customers’ value creation activities. The calculation of ACLV is altered from ordinary customer lifetime value models by the integration of individual transaction data and propensity to stay figures from a customer survey.

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