Leveraging Technology to Improve Customer Relationships

Description

Firms are shifting from a transaction- to relationship-focused approach to build long-term bonds with customers, making them assets the firms can nurture, expand, and allow to evolve (Mende, Bolton, and Bitner 2013; Kumar, Leszkiewicz, and Herbst 2018). Technology is transforming these relationships in many industries including retail, healthcare and hospitality, financial services, education, and others. But technological transformations might not always benefit the firms attempting to leverage them.