Strategically Pay Your Customers for Their Productivity

7 Pages Posted: 30 Apr 2021

See all articles by Kumar Rakesh Ranjan

Kumar Rakesh Ranjan

Indian Institute of Management (IIM), Calcutta

Jan Hendrik Schumann

University of Passau

Stefan Michel

IMD

Stuart Read

Willamette University - Atkinson Graduate School of Management

Date Written: November 2020

Abstract

Your customers want to work for you. They are willing to help you with everything from innovation to generating additional revenue. The question is how. From 1,723 articles on co-creation, we extracted the six ways customers help firms, and the ways firms strategically compensate customers for their productivity. The insights give executives and entrepreneurs a powerful tool for extending the reach and improving the competitiveness of organizations in industrial and consumer settings.

Keywords: Marketing, CRM, co-creation.

Suggested Citation

Ranjan, Kumar Rakesh and Schumann, Jan Hendrik and Michel, Stefan and Read, Stuart, Strategically Pay Your Customers for Their Productivity (November 2020). Rutgers Business Review, Vol. 5, No. 3, 2020, pp.319-325., Available at SSRN: https://ssrn.com/abstract=3831536

Kumar Rakesh Ranjan (Contact Author)

Indian Institute of Management (IIM), Calcutta ( email )

E-110, NTB
Joka, Diamond Harbour Road
Calcutta, West Bengal 700104
India

Jan Hendrik Schumann

University of Passau ( email )

Wirtschaftswissenschaftliche Fakultaet
Passau, D-94030
Germany

HOME PAGE: http://www.wiwi.uni-passau.de/marketing-innovation.html

Stefan Michel

IMD

Ch. de Bellerive 23
P.O. Box 915
CH-1001 Lausanne
Switzerland

Stuart Read

Willamette University - Atkinson Graduate School of Management ( email )

900 State Street
Salem, OR 97301
United States

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