The Impact of New Media on Customer Relationships

Abstract

Recent years have witnessed the rise of new media channels such as Facebook, YouTube, Google, and Twitter, which enable customers to take a more active role as market players and reach (and be reached by) almost everyone anywhere and anytime. These new media threaten long established business models and corporate strategies, but also provide ample opportunities for growth through new adaptive strategies. This paper introduces a new ''pinball'' framework of new media's impact on relationships with customers and identifies key new media phenomena which companies should take into account when managing their relationships with customers in the new media universe. For each phenomenon, we identify challenges for researchers and managers which relate to (a) the understanding of consumer behavior, (b) the use of new media to successfully manage customer interactions, and (c) the effective measurement of customers' activities and outcomes.

The effect of social media interactions on customer relationship management

“…Hence, reacting appropriately to complaints has become a major challenge (Bolton and Saxena-Iyer 2009;Hennig-Thurau et al 2010) and an opportunity for both companies and their social media activities. The research indicates that companies that take appropriate remedial actions in a timely manner show that they are sensitive to customer concerns ( Van Laer and De Ruyter 2010;Van Noort and Willemsen 2012).…”

The Acceptance of Smart Wearable Devices through Health Cognitive

“…It allows people to use more advanced computing ability and offer instantaneous connectivity more than the personal computer [1]. In Addition, these smart devices provide a platform where people can easily access to the information that they need [2] and real-time information can be exchanged anywhere [3]. A smart wearable personal device should be light weight and low power consumption, of reasonable price by totally unskilled persons.…”

CRM: A Conceptual Framework of Enablers and Perspectives

“…The major theoretical and practical research question posed by these new forms of data is how can they be tapped in to and utilized for CRM purposes (Hennig-Thurau, Malthouse et al 2010)? Some proposed metrics are the aforementioned CLV, but also customer referral value (CRV) which involves determining how much of each customer's value stems from his or her referrals of new customers, customer influencer value (CIV) which is more subtle that referring but involves influencing through information-sharing, and customer knowledge value (CKV) which involves indentifying…”