Working Papers

How Customer Referral Programs Turn Social Capital into Economic Capital

Christophe Van den Bulte, Emanuel Bayer, Bernd Skiera, and Philipp Schmitt

Feb 24, 2015

Uses data from a bank to test two possible mechanisms for the higher margins/lower churns exhibited by customers acquired through customer referral programs: better matching between referred customers and the firm, and social enrichment by the referrer. 

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