The impact of goal enabling technologies on customer lifetime value

Abstract: Financial  service  providers  increasingly  offer  goal  enabling  technologies  (GET).Their popularity is based on the assumption that enabling customers to set specific goals related to the service can improve customer value.  While this assumption has its foundation in consumer psychology research, firms need to understand how GET influence  customer  value  and  whether  boundary  conditions  to  this  effect  exist.   Using panel data from an investment services firm and  a synthetic control structural matching method, the authors show that introducing GET improves customer value. Their analyses reveal that the impact of GET depends on customers’ perceived goal difficulty, motivation and commitment at the time of setting the goal.  The authors provide suggestions for implementing GET to further increase firm performance.

Bio: Dr. Christine Eckert is Associate Professor in the Marketing Discipline at University of Technology Sydney, Australia. Christine's primary research interest falls into the field of quantitative modeling, with a particular interest in the choices made by market participants, defined broadly. She has researched on this topic across different disciplinary issues: such as the financial decision making of consumers, strategic governance decisions of innovation seeking companies, and corporate and consumer social responsibility. Her research has been published in leading business and health journals such as Journal of Marketing Research, Management Science, International Journal of Research in Marketing, Review of Finance and Tobacco Control.

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