Currently, automotive industry players are facing challenges in improving their business strategy to enter new market segments and achieving better bottom-line results. To gain better insights into the customer base and automotive industry trends, renowned businesses in the automotive industry space are approaching companies like Infiniti Research.
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A renowned client in the automotive industry was facing predicaments reaching their target audience and devising products that resonate with each segment. The primary objective of the auto parts manufacturer was to reposition their brand strategy without compromising on their potential customers. Furthermore, the client wanted to leverage customer segmentation to understand their market position. The client also wanted to market to an elite and upscale target audience and build a strong brand focus strategy.
The experts at Infiniti conducted interviews and discussions with leading stakeholders in the automotive industry. Infiniti ’s customer segmentation experts helped the client segment marketing efforts based on demographic data and improved their performance. Furthermore, the client also crafted a dashboard compiling information from various proprietary sources such as paid industry databases, company presentations, and industry forums. Also, the solution helped the client create robust marketing campaigns to encourage customer loyalty.
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Infiniti’s Customer Segmentation Solution Benefits
With the aid of Infiniti’s customer segmentation solution, the auto parts manufacturer was able to understand the product portfolios and develop focused marketing strategies. The engagement also helped the client identify lucrative opportunities and ultimately increased revenues. Furthermore, the engagement helped the client increase the profit margins and promote the stability of the customer base in the industry. Also, customer segmentation analysis helped the automotive industry client:
- Identify the marketing channels and sales channels and devised an effective go-to-market approach
- Differentiate customers based on their economic value and developed customer segment hypothesis
- Segment the customers in terms of industry, products, and geography
- Allocate the resources efficiently and increased performance against competitors
Future of Automotive Industry
Today, the automotive industry is relying on customer segmentation to identify the most profitable customer segments and develop a need-based and value-based segmentation scheme. With the help of automotive industry trends and customer segmentation, leading manufacturers in the industry can focus on their target audiences and best allocate and spend their precious human and capital resources efficiently.
In the automotive manufacturing space, devising customer segmentation helps manufacturers increase their win rate, increase profit margins, and ultimately improves bottom-line performance. Furthermore, through effective customer segmentation, the client acquired new customers and retained their prevailing customers, which, in turn, increased the lifetime value of each customer.
Why knowing your customers is the key to success? To know all these and more, get in touch with our experts!