P. Tomczyk, T. Doligalski, P. Zaborek, Does customer analysis affect firm performance? Quantitative evidence from the Polish insurance market, „Journal of Business Research”, vol. 69, iss. 9, p. 3652–3658, September 2016, doi:10.1016/j.jbusres.2016.03.026
The full version of the article is available on the website of the Journal of Business Research
The paper explores the relationship between conducting customer analysis and financial performance. The data for the study were collected from 590 small insurance intermediaries in the Polish market. The structural equation modelling indicates that the strongest predictor of financial performance was the use of formalized knowledge processing, followed by the scope of performed customer analysis. Other factors positively correlated with financial standing included earning most revenues from corporate clients (versus consumers) and employing policies aimed at regaining former customers. The study also finds that add-on on selling was not significantly associated with better financial results.
Keywords: customer analysis, customer lifetime value, marketing performance, financial performance, insurance, Poland