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THE METRICS OF RELATIONSHIP MARKETING PERFORMANCE IN THE INDUSTRIAL MARKET
Abstract
The paper aims to choose the marketing metrics to measure the performance of the corporate client relationship management and to estimate the relationship marketing efficiency in the industrial market. The choice of client metrics was made according to the corporate targets for the development of industrial organization, availability of statistical data and the companys needs for information in order to manage relationship with the customers. It was tested and approved in the real case of industrial enterprises. The authors opted for an exploratory study to define the most used marketing metrics, including 48 depth interviews with employees representing industrial companies of middle size business from different fields and areas in Sverdlovsk region (Russia). The marketing survey of the corporate clients was implemented with the use of questionnaire among 150 chief executives, sales managers and owners of industrial companies to measure the performance of relationship marketing and customer loyalty in B2B market. It was concluded that industrial organizations usually estimate only the number of customers and its share in the total sales. Such metrics as the customer lifetime value and the level of its involvement are not used by majority of industrial enterprises. The authors suggested the methodology for client metric estimation, such as Net Promoter Score, Customer Retention Rate, New Clients Share, Customer Lifetime Value, Duration of Interaction with the Client. The metrics were calculated for the company, producing polyvinylchloride products for construction. The client metrics analysis was useful for decision making concerning the development of the corporate customer relationship. The choice of marketing metrics made it possible to estimate the relationship marketing performance and to create the marketing strategies oriented on the customer loyalty.
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References12
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