The customers of today are more empowered and connected than ever before. With the relentless growth in technology, customers have easy access to information from anywhere and anytime at their fingertips. The heightened expectation of customers is forcing the auto accessories industry to rely on customer analytics to devise effective strategies to identify, attract, and retain the most profitable customers. Organizations leverage the use of customer analytics to identify high-value customers and proactively build a strong relationship with them. In the auto accessories landscape, customer analytics provides effective solutions to serve the existing customers and prevent the changes of attrition. The process involved in customer analytics empowers the businesses to prepare, blend, and analyze the customer data and make effective business decisions.
Quantzig’s customer analytics solution helps auto accessories manufacturers to offer the right product; at the right time, through appropriate channels to the customers. The solution further helps the client anticipate customer demand and improve marketing campaigns with personalized offerings. With the assistance of customer analytics solutions, the client can identify the at-risk customers, minimize attrition, and enhance operational efficiency.
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The Business Challenge
A leading auto accessories manufacturer with significant number of branches across the globe was losing their shares in the market. In the initial days, the market share projected a boom as the client emphasized on customer satisfaction. In a short span, the client witnessed unprecedented changes in their market shares, owing to the lower importance given to the customers. The client was looking for ways to recapture and retain their customers and ensure better customer satisfaction. The primary objective of the engagement was to retain the existing customers and understand their buying patterns.
To understand which customers were abandoning the client’s brand, Quantzig’s customer analytics experts developed a statistical model to gain actionable customer insights to know the preferences and automobile usage data to increase customer acquisition and retention. Quantzig’s customer analytics experts also gauged information on the buying habits and lifestyle preferences of the customer to accurately predict the future buying behavior and deliver relevant offers to the customers.
Customer Analytics Solution Benefits:
- Describe past buying behavior and prescribe ways to influence future purchasing decisions
- Provide individualized offers and incentives to boost sales and improve customer retention
- Devise a customer-centric approach to understand the new customers
- Identify the potential customers and provide seamless customer experience
- Drive sales, optimize market campaigns, and measure the return on investment
- Devise effective marketing strategies to drive revenue
Customer Analytics Solution Predictive Insights:
- Analyze the impact of the internet and mobile devices on customer buying patterns
- Maximize brand visibility and tap potential niche market
- Understand customer behavior patterns and analyze website traffic and bounce rates
- Devise new customer acquisition strategies and increase customer retention
- Increase traffic and improve the ROI