Customer Journey Value: A Conceptual Framework. (May 2023)

• Record Type: Journal Article
• Authors: Hollebeek, Linda D.; Urbonavicius, Sigitas; Sigurdsson, Valdimar; Arvola, René; Clark, Moira K.
• Is Part Of: Journal of creating value. Volume 9:Number 1(2023)
• Page Start: 8
• Page End: 26
• Publication Date: 2023-05
• Subjects: Customer journey -- customer value -- customer-based brand equity -- customer engagement -- customer engagement value; Customer services -- Periodicals; Customer relations -- Management -- Periodicals; Consumer satisfaction -- Periodicals; 658.812
• DOI: 10.1177/23949643231157155
• Languages: English
• ISSNs: 2394-9643

Abstract

Though firms are making substantial investments in the customer journey (CJ), the return on these investments remains tenuous, yielding a critical need for enhanced CJ-related accountability. Addressing this gap, we develop the concept of 'customer journey value' (CJV), defined as the perceived value of a customer's journey to the customer and the firm, which facilitates the development of accountability in this regard. We also develop a social exchange theory-informed framework of CJV, which proposes customer- and firm-based customer engagement value (CEV) as core CJV antecedents. In turn, CJV is predicted to yield the customer-based consequences of attitudinal and behavioural brand loyalty and the firm-based consequences of enhanced customer lifetime value, as formalized in a set of propositions based on the framework. We conclude by outlining pertinent implications that arise from our analyses.