Cost Structure, Customer Profitability, and Retention Implications of Self-Service Distribution Channels: Evidence from Customer Behavior in an Online Banking Channel
Cost Structure, Customer Profitability, and Retention Implications of Self-Service Distribution Channels: Evidence from Customer Behavior in an Online Banking Channel
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DOI：
10.1287/mnsc.1090.1066
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发表时间：
2010-01-01
影响因子：
5.4
通讯作者：
Frei, Frances
中科院分区：
文献类型：
--
作者：
Campbell, Dennis;Frei, Frances
本文以网上银行为背景，研究了利用自助式分销渠道改变客户与企业互动的后果。使用一家大型美国银行在30个月内观察到的零售银行客户样本，我们测试了服务消费、服务成本和客户盈利能力的变化是否与采用在线银行有关。我们发现，客户对网上银行的采用与：(1)替代，主要来自成本逐渐增加的自助服务交付渠道(自动柜员机和语音应答单元)；(2)在成本更高的服务交付渠道(分支机构和呼叫中心)中增加服务消费；(3)总交易量大幅增加；(4)综合积分(1)-(3)导致的估计平均服务成本增加；以及(5)短期客户盈利能力的降低。然而，我们发现，使用网上银行渠道与一年、两年和三年内较高的客户保留率相关。即使在对在线渠道的自我选择进行了控制之后，网上银行的使用与客户保留率之间的有记录的关系仍然是积极的。我们还发现证据表明，在网上银行渠道同时使用率较高的市场中，我们样本公司的未来市场份额系统地更高。即使在控制了同期的市场份额后，这一发现仍然成立，这表明这不仅仅是市场力量增强导致获得网上银行客户的结果。
This paper uses the context of online banking to investigate the consequences of using self-service distribution channels to alter customer interactions with the firm. Using a sample of retail banking customers observed over a 30-month period at a large U.S. bank, we test whether changes in service consumption, cost to serve, and customer profitability are associated with the adoption of online banking. We find that customer adoption of online banking is associated with (1) substitution, primarily from incrementally more costly self-service delivery channels (automated teller machine and voice response unit); (2) augmentation of service consumption in more costly service delivery channels (branch and call center); (3) a substantial increase in total transaction volume; (4) an increase in estimated average cost to serve resulting from the combination of points (1)-(3); and (5) a reduction in short-term customer profitability. However, we find that use of the online banking channel is associated with higher customer retention rates over one-, two-, and three-year horizons. The documented relationship between the use of online banking and customer retention remains positive even after controlling for self-selection into the online channel. We also find evidence that future market shares for our sample firm are systematically higher in markets with high contemporaneous utilization rates for the online banking channel. This finding holds even after controlling for contemporaneous market share, suggesting it is not simply the result of increased market power leading to the acquisition of online banking customers.