Predictive analytics analyze current and historical customer data from various sources to develop models that predict customer preference and future behavior. Imagine how much more targeted, not to mention cost-effective, your campaigns could be if you knew this information. You could send fewer communications and get better results.
In fact, a recent Aberdeen Group study found that campaigns based on predictive analytics resulted in an 8.3 percent incremental sales lift over control groups, and a 7.9 percent increase in click-through rates.
Among Outsell’s customers utilizing NeuroMotics™ predictive models, we’ve found that:
• Buyers engage with analytic-driven campaigns 7 times before visiting the dealership.
• Shoppers that engaged with targeted communications were 6 times more likely to convert.
• New vehicle sales increased by 10%
• New customer sales increased 7%
• Repurchases by existing customers increased 22%
This isn’t about “big data” – it’s about actionable data that helps drive incremental sales. Predictive analytics is transforming the way automotive brands and marketers engage with customers.