Customer Referral Management : Optimal Reward Programs

@inproceedings{Biyalogorsky2001CustomerRM,
  title={Customer Referral Management : Optimal Reward Programs},
  author={Eyal Biyalogorsky and Eitan Gerstner and Barak Libai},
  year={2001}
}
Sellers who plan to capitalize on the lifetime value of customers need to manage the sales potential from customer referrals proactively. To encourage existing customers to generate referrals, a seller can offer exceptional value to current customers through either excellent quality or a very attractive price. Rewards to customers for referring other customers can also encourage referrals. We investigate when referral rewards should be offered to motivate referrals and derive the optimal… CONTINUE READING
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