How a Dockless Bike Rental Services Provider Tackled Challenges Arising Due to Customer Dissatisfaction Using Our Customer Analytics Solutions
3 Common Challenges Facing the Bike Rental Services Market Tackling challenges in today’s bike rental services market is not an easy task, request a FREE proposal to learn how we can help. Fleet Management and Availability Optimizing the availability of fleet is a major challenge for businesses in the bike rental services market. Maintaining optimal […]
3 Common Challenges Facing the Bike Rental Services Market
Tackling challenges in today’s bike rental services market is not an easy task, request a FREE proposal to learn how we can help.
Fleet Management and Availability
Optimizing the availability of fleet is a major challenge for businesses in the bike rental services market. Maintaining optimal fleet at the time of maximum requirement is quite challenging, especially if the company fails to predict the demand for their vehicles. A detailed analysis of historic data sets can help bike rental services providers to forecast demand for their services at any given point of time.
Customer Experience Management
Improving customer experience is crucial for bike rental services providers globally since it plays a crucial role in driving revenue through enhanced customer satisfaction. In this case, customer experience depends on several factors such as- the availability of bikes, user-friendliness, pricing, and ease of use.
Bike rental service providers collaborate with vendors from different geographies and time-zones, due to which gathering and integrating data from different vendors becomes a tedious task without the use of analytics and technology.
Our customer experience analytics experts can help you drive experiences using analytics-driven insights. Get in touch with them right away!
About the Client
The client is a leading player in the bike rental services market in the US. The company is well-known for offering turnkey, affordable dockless bike rental services that include different forms of transport such as- e-bikes, bicycles, and superbikes.
The bike rental services market is one of the rapidly growing industries globally, this can be attributed to several factors including- a maturing millennial generation, urbanization, and the explosion of new concepts and apps that simplify the entire experience of using dockless bikes. Thriving in such a marketplace was challenging for the client who was keen on preparing itself for the upcoming demand and the growing competition.
However, a major challenge faced by the bike rental services provider revolved around identifying the needs of the customers and ensuring the allocation of sufficient bikes at a given location at any given point in time. To address their issues using advanced analytics-driven approaches, the client chose to collaborate with Quantzig, a pioneer in offering advanced customer analytics solutions to address the growing concerns of businesses across industries. Using customer experience analytics, the client wanted to leverage the most commonly used machine learning technique– ‘Numeric Prediction Algorithms’ to predict and forecast demand.
The challenges faced by the bike rental services provider were three-fold:
- Theft and inventory damage
- Growing competition
- Accountability and associated manual work
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The bike rental services provider faced several challenges that resulted in a dissatisfied customer base and a steady decline in demand. To tackle these issues, Quantzig’s customer experience analytics experts adopted a comprehensive three-pronged approach that employed numeric prediction algorithms to predict demand and analyze customer experience.
The initial phase of this customer experience analytics engagement mostly focused on assessing customer data sets obtained from apps, social media campaigns, and other data sources. This not only helped the client gain a holistic understanding of the factors affecting customer satisfaction, but the use of customer experience analytics also enabled the bike rental services provider to optimize their marketing efforts and devise targeted approaches to enhance CX and drive growth. In the final phase of the engagement, our customer experience analytics experts devised an interactive dashboard to track and monitor customer data in real-time. In addition to offering visual insights into customer experience, the dashboard empowered the bike rental services provider to drive growth using analytics powered real-time insights.
With Quantzig’s customer experience analytics solutions, the bike rental services provider was able to:
- Achieve a 17% increase in annual profits
- Improve customer experience
- Enhance the brand reach and market footprint
- Analyze customer sentiments
Din’t find a use case similar to the challenge you are facing? Fret not, request for more information to gain comprehensive insights into our customer analytics solutions portfolio.