University of Twente Student Theses
Using customer interactions to understand the customer engagement value : a predictive study in the B2B insurance industry
Westervoorde, P. (2020) Using customer interactions to understand the customer engagement value : a predictive study in the B2B insurance industry.
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| Abstract: | Aim. The popularity of data drive marketing strategies is rising nowadays, also in the B2B insurance industry. Based on the interaction data of the business holders, different theoretical and practical implications regarding interaction between insurer and customers can be provided. In fact, the Customer Engagement Value can be predicted or even increased through interaction. Therefore, the aim of this is study is to test the effect of interactions on the evolution of the Customer Engagement Value factor. Next, the effects of the kind of interaction, the effects of the type of the interaction channel and the effects of the combination in the use of interaction channels on the Customer Engagement Value are tested. Method. To test the hypotheses, explanatory research has been executed. Firstly, data from a time period of 7 years were pre-procced and cleaned, a new dependent variable was created and data was manipulated. Then, a correlation matrix and stepwise linear regression models were performed. Due to the low variance in the data, the data was transformed into binary variable tablets. Subsequently, stepwise logistic regression models were performed. Within the research, 1,842 various points of interactions from 1,345 business policyholders were used. Findings. The result of this study indicates that interactions do have a positive influence on the evolution of the Customer Engagement Value factor. The result of this study indicates that interactions do have a positive influence on the evolution of the Customer Engagement Value factor. In fact, it appears that adding one interaction increases the chance of a positive evolution of the CEV factor by 28.8%. In the case of single interactions, interactions via the interaction channels telephone and direct communication have the most significant contribution. For a series of interactions, an interaction strategy combining the above interaction channels increases the chance of a positive evolution of the Customer Engagement Value by 14.5%. Conclusion. The more interactions, the greater the chance of a positive evolution of the Customer Engagement Value. When looking at on the use of the kinds of interaction channels, a combination of telephone and direct commination will be the most effective to gain more customer loyalty. However, marketers and call center employees should be aware that excessive interaction can lead to irritation. In addition, the sentiment of the interactions has not been studied, which requires further research. Furthermore, further research should imply the number of interactions in terms of overkill and irritation. Keywords: Customer Interactions, Customer Engagement Value, Loyalty, Customer Interactions Journey, the B2B insurance industry. |
| Item Type: | Essay (Master) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Programme: | Communication Studies MSc (60713) |
| Link to this item: | https://purl.utwente.nl/essays/80975 |
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