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Relationship Marketing in the Digital Age
Watch this video in which Lena Steinhoff discusses her research on how companies can manage their relationships with online customers more effectively.
In this video Lena Steinhoff identifies five key elements that are unique to online customer-company relationships:
Online relationships are seamless: Customers can access the company at any time or place;
Online relationships are networked: Companies need to be aware of the effect of social media since one customer can positively and negatively effect its sales with other customers;
Online relationships are omni-channel: Customers not only use different types of devices to access the company, but they access it in different ways, such as through Facebook and Instagram.
Online relationships are more personalized: Using customer profiles companies can customize their offerings on a one-to-one basis;
Online relationships are getting anthropomorphized: Customers may talk to a chatbot or a machine when they contact the company.
Steinhoff's research has found that reciprocity and trust are important aspects of e-commerce relationships, electronic word-of-mouth via the social web can have a positive and negative effect on company sales, privacy concerns and data breaches can have a negative
effect on company performance, and that service robots can be off-putting to customers.