MONETIZING THE INTANGIBLE VALUES OF CUSTOMERS: THE EXAMPLE OF REFERRALS.

Models of the value of customer relationships are mostly based on monetary contributions of customers. Recently, efforts to "make tangible the intangible" and to include non-monetary contributions of customers have been put forward which mostly focus on customers' referrals. The paper discusses different models of referral valuation and the effects of integrating intangible components in customer lifetime valuation [ABSTRACT FROM AUTHOR]