Customer engagement patterns and new venture outcomes
Chandler, Gaylen N. McLeod, Michael S. Broberg, J. Christian McKelvie, Alexander DeTienne, Dawn R.
Chandler, Gaylen N.
McLeod, Michael S.
Broberg, J. Christian
McKelvie, Alexander
DeTienne, Dawn R.
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Authors
Chandler, Gaylen N.
McLeod, Michael S.
Broberg, J. Christian
McKelvie, Alexander
DeTienne, Dawn R.
McLeod, Michael S.
Broberg, J. Christian
McKelvie, Alexander
DeTienne, Dawn R.
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2023-11
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Article
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Keywords
Customer engagement,Demand-side,Institutional theory,Legitimacy,Optimal distinctiveness,New ventures,Value creation
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Citation
Chandler, G.N., McLeod, M.S., Broberg, J.C., McKelvie, A., & DeTienne, D.R. (2023). Customer engagement patterns and new venture outcomes. Small Business Economics. https://doi.org/10.1007/s11187-023-00843-6
Abstract
We investigate how different value creation processes affect the early-stage performance of new ventures. Specifically, we focus on entrepreneurial value creation using four different patterns of customer engagement: (1) existing customer acquisition (ECA); (2) product/service imitation (PSI); (3) customer-focused innovation (CFI); and (4) technology-driven innovation (TDI). We examine early-stage performance under the premise that each pattern has a different starting point with customer bases, product innovation, and legitimacy. We use institutional theory, optimal distinctiveness, and the demand-side perspective to hypothesize and then empirically validate this typology by examining the performance rank order of customer engagement patterns. We employ a mixed-methods approach across a two-part study and find support for our hypotheses. We find differential financial performance outcomes that depend on the customer engagement pattern implemented by the entrepreneur. We expand on these findings, including the practical implications of the strategies that entrepreneurs may consider when launching their venture.
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Publisher
Springer
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Small Business Economics
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0921-898X