SlideShare a Scribd company logo
1 of 11
Download to read offline
Futuristic Auto Solution
Happiest People Happiest Customers
Futuristic Auto SolutionFuturistic Auto Solution
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved
Executive Summary .............................................................................................................................3
Problem Description ............................................................................................................................4
Use Cases............................................................................................................................................6
Benefits ................................................................................................................................................7
Conclusion..........................................................................................................................................10
References..........................................................................................................................................10
Contents
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved22
Executive Summary
There was a time when the Automotive Retail industry
seemed like a straightforward business of selling cars but now
the automotive purchase cycle has become immensely com-
plex. With internet becoming such a crucial part of our
day-to-day life, it certainly plays a very important role in
customers’ pre-buying decision making process starting from
which car to buy to which dealers have been highly appreciat-
ed by their customers. More than 60% of auto buyers already
regard the internet as the most important tool influencing their
purchase decisions. It clearly suggests that car dealers are
dealing with the customers of a new era who are much better
informed, which indicates that gone are the days of bully sales
representatives who would sell cars for better incentives,
irrespective of customers’ interests.
All these data indicate the need for new strategies that can
help the business build a strong and ever-lasting relation-
ship with their customers. This kind of relationship is not
only beneficial for the business, but also for the customers,
as the purchase process seems more transparent - keep-
ing the customer at ease.
In order to provide this kind of the service, businesses
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved
Another archaic belief that is prevalent among auto dealers
is that as soon as the sale is over, the dealers believe that
they have achieved their goal and their responsibility is
over, but it is far from the truth. Reports suggest that the
dealers never contacted 1 in 5 people after the purchase of
their car. Some of them also pointed that calling right after
to check if everything is ok will not be as beneficial as
someone calling them after 12-36 months of the purchase
to find out about the problems that customers may be
facing because that is the time most of the issues begin to
occur. Another finding from the report suggests that one
year after the purchase of the vehicle, 40% of them are
already thinking of their next vehicle.
Increasing footfall by creating personalized experience and building customer relationship
really need to know the customer inside out and for that,
huge amount of data about the customers are important.
Before the sales associates start interacting with the
customers, there are some very important pieces of
information required in order to deal with them most
efficiently. For example, financial background, demo-
graphics, preferences, lifestyle, income, previous
purchases, complaints etc. Using these information car
Know your customers well and understand their
core needs
Background check helps in segmenting the
customer better
Helps in designing a personalised catalogue and
better resource mapping
Loyalty: long term relationships and brand advocacy
Send constant reminders about services and offers to
keep customers close to the brand
Take constant feedback about the product, parts and
service offerings for faster brand recall
Communicate to your customer according to where
they are in their ownwership cycle
Building customer relationship
Study customer’s history and offer the best deals on
products and warranties
Personalise expert advice on financiqal asistance
and auto insurance
Effective communication
Advertising products and features that resonates
with the customer
Lets the customer reach out through multiple
channels and optimize the same for improved
penetration
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved3
Problem Description
About 80 percent of first time car buyers and almost
100 percent of used-car customers surveyed online
to begin their vehicle-buying process
The average number of customer visits to dealer-
ships prior to buying a car has dropped to just one,
typically (from up to five not so long ago)
One out of four customers feel that they are not
satisfied with the dealership experience
Customers want more frequent contact
Customers look for more meaningful relationships
Dealers fail to think about the post-sale situation
A large number of current customers are actually in
the market for a new car or look to upgrade, which
represents enormous opportunity for sales
Shoppers prefer 'new formats' such as test-drive
centers, city showrooms, exurban superstores,
temporary stores, online stores, and also home visits
Gradual decrease in contact between the customer and car dealers
dealers can also map their resources better with various
customers for a better conversion rate.
With all the information available at the disposal of the
customer, it is imperative that the auto industry embraces the
paradigm shift in these customers’ behavior and their expec-
tations from the industry. Customer expectations are still
there to be met, even if they are more demanding than back
in the pre-digital 'analogue' days and it all can be achieved
only if businesses know their customers by making use of all
the data available.
Traditionally, automotive sales consultants would sell deals
to the customers, where majority of whom had very limited
knowledge or absolutely no clue about what they were
buying. As a result, they heavily relied on the information
provided by the sales consultants but this is not the case in
today’s world. Customers are extremely aware, sophisticat-
ed, and at times very demanding with their requirements
about the products, OEMs, financial assistance and other
services.
75% of vehicle owners
received no contact
when they were
ready to buy a new one
37% of the vehicle owners recieved no contact
during the ownership of their vehicle
(almost half of them wanted it)
20% of the recent
vehicle buyers
recieved no contact
after purchase
OWNERSHIP
CONSIDERATION
SHOPPING
OWNERSHIP
ENDOFTERM
According to the Automotive Customer Journey Study
and McKinsey & Company eport called – Innovating
Automotive Retail, below are some of the key findings:
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved4
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved5
Most shoppers expect to yield more information on
things not easily found online during their visit to the
dealer
Automotive customers begin their journey with “an
initial-consideration set” of 3.8 brands; they choose
these brands for a number of reasons, but long-term
awareness campaigns play a crucial role
A well-connected dealership is prone to be more
successful
The number of opportunities for auto dealers are sharply
decreasing with dropping visits of the customers, and
dealers often get just one chance to strike lucky. This
makes it clear that when a customer walks in, they leave
with an amazing experience or else they will never come
back
Every customer is highly educated about the purchase
they want to make and their visit must expose them to a
set of possibilities that they could not explore on the
internet
Dissecting all the data points above, we have shortlisted the
following major problem areas:
In order to plug the holes explained above, it very crucial to
know the customers well and stay with them at all times
during their product ownership lifecycle. The key here would
be the data pertaining to these customers and using it to
offer products, features, assistance and services that are
more precise.
Customer Insights from social data
40% I recieved a raise, bonus or other new work related income
21% I recieved a promotion
15% Its necessary for my line of work
14% Changed jobs and I need it for my new commute
10% My employement changed in another way
Majority of the customers expect much more mean-
ingful and a long lasting relationship with their
dealers so that they can constantly be communicat-
ed appropriately depending on the cycle of their
ownership
With the advent of internet and social media, it is
extremely important to manage every customer’s
expectation and track their engagement through
multiple social and web channels to improve the
brand recall
Use Cases
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved6
The use case below will show how information about the
customers/prospects always helps, and how auto dealers
can always be one step ahead in the game by using the data
to make their customers’ life simpler and convenient.
In the use case below, we talk about Jack who recently got a
job promotion, and suddenly he realizes that he may have
some extra disposable income, but he is not sure where
does he really want to invest it in.
Using customer data for better experience & expectation management
He shares this news with his friends over the social
media with a #promoted. This information is tracked by
our Auto solution and depending on the customer’s
profile, he receives advertisements of excellent deals on
various cars
Jack gets interested and follows the ad, which takes him
to the car dealer’s website where he can login through
any one of his social profile. As he logs in, his social
profile is scanned to understand Jack’s personality. This
personality scan would provide personal insights indicat-
ing if he is a spendthrift, maintains a high living standard,
owns flashy things, has many friends, very social and so
on
Our system analyzes his profile and does a customer
profiling and accordingly he gets offers. He assess his
options and decides to book an appointment to visit
the shop
The system tracks all the options and their features
that he was assessing and mapped to his profile
As he walks in to the store, he is asked to fill in his
details on the kiosk for a salesman to attend to him.
He logs in and he is asked to provide his SSN/Driving
license details for more personalized offers. As he
enters any of the two details, complete history of Jack
is fetched from the heap of data stored and managed.
The data has all the information about Jack varying
from his credit score, to his driving skills, to his income
range, the company he works for, his past purchases,
etc. and this data is assimilated with social media data
to design a more relevant product catalogue
pronounced with cars and services that would matter
to Jack
Jack gets promoted and he shares this
good news wuth friends and family
over the social networks. Now with
the increased disposable income
he wants to get a car.
1.
Goes to the dealer’s website.
Curious to know more, he books
an appointment and visits the store.
2. 3.
Associate gets all the customer info
on his tablet and he prepares his
sales pitch accordingly.
4.
Jack gets his dream
car and because of
his safe credit history
and safe driving record,gets a car loan at a
very low interest ratesand extremly low
insurance premiums.
5.
Deal success
6.
Maintains communication
throughthe lifecycle of
ownership of the car making
Jack feel absolutely care free
7.
Delighted by the experience,
Jackbecomes a brand advocate
and talks about it in his social
group which furthur influences
others to join the elite club
8.
9.
Strengthens brand
value and brand recall
in customer group
Gets promotional offers on his car
in his social feed and mails.
Provides his
SSN or driving
license details.
Logs into the digital kiosks,access his offers,
provides more details about his preferences
and submit request.
Jack’s purchase details and
feedback is recorded
and marketed
over social channels.
Tracks Jack’s happiness quotient
through multiple channels.
Customer’s credit history,
driving history, past purchase
and preferences are analyzed
to customize offerings
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved7
Products competitively priced to suit his need
Hassle free loans with low interest rates
Recommendations on which all insurances he may
want to renew or buy new ones with easy
insuance premiums
Annual free-of-cost premium servicing and oppor
tunity to become a lifetime member after that
period
Accident assistance
Service/oil change reminders
Premium payment reminders
New launch of products that may interest him
Tips on better performance of the car
Factors on which interest rates, EMIs, insurance
premiums depend
Trivia questions, quizzes, brain teasers, fun
facts, videos, photo slideshows
Customers have the flexibility to choose the way
they want to interact with the business
Saves customer’s time and effort to start the
same process all over again
Benefits
As Jack reviews the product catalogue, he reads the
product description, their reviews, financial assistance
details, and terms & conditions and he becomes almost
certain that he cannot get a better deal anywhere. He
selects the products and the services that he is more
keen on and submits his request
Sales consultants are mapped with his request who
have a great deal of knowledge on his interest areas.
These consultants will get the details of the products
and services that interest him - at the same time some
background of the customer that will help them prepare
their sales pitch better and communicate things that
resonate with Jack
Finally, Jack purchases his dream car and the dealers
help him avail the loans at very competitive interest
rates and insurances with comparatively lower
premium
The auto dealer now have access to all the details that
there is to know about Jack, the dealer can keep track
of the complete ownership cycle of the car and maintain
contact throughout by providing:
Jack is so elated about the buy and the services that
come along with it he continues to talk about it on social
forums, helping other customers looking to buy a new
car make a decision resulting in increased footfall and
exponential growth of brand value
Enhances shop ambiance
Command customers’ attention through digital
displays, which make use of images, videos and
animations
Customize content based on store location, customer
demographics, time of day, and other attributes
It can be a form of entertainment/education for
customers waiting to be attended
Provides the flexibility to change the content any
number of times during the day without impacting the
cost and has no lead time
Reinforce existing marketing channels such as
television, radio, print or events and promote new
products, product lines, or product categories, servic-
es, up-sell, cross-sell, and drive traffic to particular
areas in the store
Provides a Cross-Channel Experience
Data captured about customers can extremely be useful
in more precise customer profiling and understand the
With the changing needs of the customer, our customer
based solution provides a long list of benefits and is indis-
pensable for the retail automotive sector.
1. Improved understanding of Customers and their needs
2. Better Customer Engagement through Digital Kiosks
upcoming trends that can be used to ideate new
offerings, improve services that will appeal to the
majority
Better targeted promotions of cars, OEMs that will
appeal more to the customers knowing their prefer-
ences
Offer better personalized deals depending on their
credit score, driving history, previous purchases and
other demographic details and reduce the decision
making cycle
Cross-selling and up-selling becomes much easier
and is more effective knowing what the customer
wants
Data captured through these sources can be mone-
tized, which can create opportunities for the compa-
nies untapped information to create new sources of
revenue
Reasons for Car users to use internet
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved
Helps in understanding various triggers in
customers’ life and promote relevant deals for
better customer response
Customers ask friends and family for advice at
every stage in their automotive purchase journey
and hence it is really important that business
tracks the engagement and feedback provided
the customers or potential buyers and act quickly
on the same
Customer communities on the web and social
channels are powerful incubators of brand loyalty
and can help improve the foot fall drastically
Customers leave multiple traces of information on the
internet that can act as a catalyst to start a campaign
or a promotion to the targeted audience
Helps in understanding various triggers in customers’
life and promote relevant deals for better customer
response
Customers leave multiple traces of information on the
internet that can act as a catalyst to start a campaign
or a promotion to the targeted audience
Scale word of mouth recommendations
Customers can be encouraged to check-in on social
forums through these devices or share products/ser-
vices with their friends/family resulting in
word-of-mouth marketing
3. Customer Tracking and Engagement through Web
and Social channels
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved8
Factors that help customers choose their car dealers
Remind customers about things important to customers like - Service due, Insurance expiration, EMI payments to
earn a good friend reputation
Analyze customer’s data and offer promising financial assistance or better service delivery options knowing the
pain points of the customers
Communicate to customers depending on the stage of their ownership cycle
Collect feedback from the customers through various channels and use them as the metrics for improvement
Track sales consultants performances through feedbacks and suggestions and customize trainings on the same to
serve customers better and score high on customer confidence index
4. Maintain Loyalty and Improve Brand Advocacy
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved9
Conclusion
Leveraging mobile data offers an attractive opportunity for new revenue stream and customer experience enhancement.
Data from different sources - online transaction, loyalty programs, call center records when treated as an input to the
proposed solution will identify patterns which would generate more precise customer segmentation and so forth. Such
out of the box capabilities of the solution will drive growth and revenues in organizations. Over the next few years,
companies with significant data will increasingly look to monetize their data intelligence to restore lost revenue and as
well create new opportunities for their institutions and customers.
Business Analysis/Consulting professional with 7+ years of experience in the Retail and
E-Commerce industry spanning across Mobile and Web. He has strong interests in making
use of technology to constantly simplify and improve customers’ experiences, especially
around the Omni-channel and digital signage area. In his spare time, Vivek is passionate
about music and football.
Author
http://www.slideshare.net/CSMGGlobal/data-monetization-leveraging-subscriber-data-to-create-new-opportunities
http://www.digitalbuzzblog.com/infographic-2013-mobile-growth-statistics/
http://www.dailyfinance.com/2011/10/25/beyond-card-fees-banks-look-to-sell-your-data/
References
Vivek Kumar
Domain Consultant - Retail /
E-commerce
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved10
http://online.wsj.com/news/articles/SB10001424052970204002304576627030651339352?mg=reno64-wsj&url=http%
3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052970204002304576627030651339352.html
© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved
Happiest Minds is focused on helping customers build Smart Secure and Connected experience by leveraging disruptive
technologies like mobility, analytics, security, cloud computing, social computing and unified communications. Enterprises
are embracing these technologies to implement Omni-channel strategies, manage structured & unstructured data and
make real time decisions based on actionable insights, while ensuring security for data and infrastructure. Happiest Minds
also offers high degree of skills, IPs and domain expertise across a set of focused areas that include IT Services, Product
Engineering Services, Infrastructure Management, Security, Testing and Consulting.
Headquartered in Bangalore, India, Happiest Minds has operations in the US, UK, Singapore and Australia. It secured a
$45 million Series-A funding led by Canaan Partners, Intel Capital and Ashok Soota.
Happiest Minds
© 2014 Happiest Minds. All Rights Reserved.
E-mail: Business@happiestminds.com
Visit us: www.happiestminds.com
Follow us on
9
This document is an exclusive property of Happiest Minds Technologies Pvt. Ltd.
12 © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved11

More Related Content

More from Happiest Minds Technologies

Largest Electricity provider in the US- Case Study
Largest Electricity provider in the US- Case StudyLargest Electricity provider in the US- Case Study
Largest Electricity provider in the US- Case StudyHappiest Minds Technologies
 
Exploring the Potential of ChatGPT in Banking, Financial SERVICES & Insurance
Exploring the Potential of ChatGPT in Banking, Financial SERVICES & InsuranceExploring the Potential of ChatGPT in Banking, Financial SERVICES & Insurance
Exploring the Potential of ChatGPT in Banking, Financial SERVICES & InsuranceHappiest Minds Technologies
 
AUTOMATING CYBER RISK DETECTION AND PROTECTION WITH SOC 2.0
AUTOMATING CYBER RISK DETECTION AND PROTECTION WITH SOC 2.0AUTOMATING CYBER RISK DETECTION AND PROTECTION WITH SOC 2.0
AUTOMATING CYBER RISK DETECTION AND PROTECTION WITH SOC 2.0Happiest Minds Technologies
 
Automating SOC1/2 Compliance- For a leading Software solution company in UK
Automating SOC1/2 Compliance- For a leading Software solution company in UKAutomating SOC1/2 Compliance- For a leading Software solution company in UK
Automating SOC1/2 Compliance- For a leading Software solution company in UKHappiest Minds Technologies
 
GUIDE TO KEEP YOUR END-USERS CONNECTED TO THE DIGITAL WORKPLACE DURING DISRUP...
GUIDE TO KEEP YOUR END-USERS CONNECTED TO THE DIGITAL WORKPLACE DURING DISRUP...GUIDE TO KEEP YOUR END-USERS CONNECTED TO THE DIGITAL WORKPLACE DURING DISRUP...
GUIDE TO KEEP YOUR END-USERS CONNECTED TO THE DIGITAL WORKPLACE DURING DISRUP...Happiest Minds Technologies
 
Complete Guide to General Data Protection Regulation (GDPR)
Complete Guide to General Data Protection Regulation (GDPR)Complete Guide to General Data Protection Regulation (GDPR)
Complete Guide to General Data Protection Regulation (GDPR)Happiest Minds Technologies
 
Azure bastion- Remote desktop RDP/SSH in Azure using Bastion Service as (PaaS)
Azure bastion- Remote desktop RDP/SSH in Azure using Bastion Service as (PaaS)Azure bastion- Remote desktop RDP/SSH in Azure using Bastion Service as (PaaS)
Azure bastion- Remote desktop RDP/SSH in Azure using Bastion Service as (PaaS)Happiest Minds Technologies
 
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDITREDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDITHappiest Minds Technologies
 
REDUCING TRANSPORTATION COSTS IN CPG THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN CPG THROUGH INTELLIGENT FREIGHT AUDITREDUCING TRANSPORTATION COSTS IN CPG THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN CPG THROUGH INTELLIGENT FREIGHT AUDITHappiest Minds Technologies
 
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDITREDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDITHappiest Minds Technologies
 

More from Happiest Minds Technologies (20)

Largest Electricity provider in the US- Case Study
Largest Electricity provider in the US- Case StudyLargest Electricity provider in the US- Case Study
Largest Electricity provider in the US- Case Study
 
BFSI GLOBAL TRENDS FY 24
BFSI GLOBAL TRENDS FY 24BFSI GLOBAL TRENDS FY 24
BFSI GLOBAL TRENDS FY 24
 
ARTIFICIAL INTELLIGENCE IN DIGITAL BANKING
ARTIFICIAL INTELLIGENCE IN DIGITAL BANKINGARTIFICIAL INTELLIGENCE IN DIGITAL BANKING
ARTIFICIAL INTELLIGENCE IN DIGITAL BANKING
 
DIGITAL MANUFACTURING
DIGITAL MANUFACTURINGDIGITAL MANUFACTURING
DIGITAL MANUFACTURING
 
Exploring the Potential of ChatGPT in Banking, Financial SERVICES & Insurance
Exploring the Potential of ChatGPT in Banking, Financial SERVICES & InsuranceExploring the Potential of ChatGPT in Banking, Financial SERVICES & Insurance
Exploring the Potential of ChatGPT in Banking, Financial SERVICES & Insurance
 
AN OVERVIEW OF THE METAVERSE
AN OVERVIEW OF THE METAVERSEAN OVERVIEW OF THE METAVERSE
AN OVERVIEW OF THE METAVERSE
 
VMware to AWS Cloud Migration
VMware to AWS Cloud MigrationVMware to AWS Cloud Migration
VMware to AWS Cloud Migration
 
Digital-Content-Monetization-DCM-Platform-2.pdf
Digital-Content-Monetization-DCM-Platform-2.pdfDigital-Content-Monetization-DCM-Platform-2.pdf
Digital-Content-Monetization-DCM-Platform-2.pdf
 
AUTOMATING CYBER RISK DETECTION AND PROTECTION WITH SOC 2.0
AUTOMATING CYBER RISK DETECTION AND PROTECTION WITH SOC 2.0AUTOMATING CYBER RISK DETECTION AND PROTECTION WITH SOC 2.0
AUTOMATING CYBER RISK DETECTION AND PROTECTION WITH SOC 2.0
 
Cloud Reshaping Banking
Cloud Reshaping BankingCloud Reshaping Banking
Cloud Reshaping Banking
 
Automating SOC1/2 Compliance- For a leading Software solution company in UK
Automating SOC1/2 Compliance- For a leading Software solution company in UKAutomating SOC1/2 Compliance- For a leading Software solution company in UK
Automating SOC1/2 Compliance- For a leading Software solution company in UK
 
PAMaaS- Powered by CyberArk
PAMaaS- Powered by CyberArkPAMaaS- Powered by CyberArk
PAMaaS- Powered by CyberArk
 
GUIDE TO KEEP YOUR END-USERS CONNECTED TO THE DIGITAL WORKPLACE DURING DISRUP...
GUIDE TO KEEP YOUR END-USERS CONNECTED TO THE DIGITAL WORKPLACE DURING DISRUP...GUIDE TO KEEP YOUR END-USERS CONNECTED TO THE DIGITAL WORKPLACE DURING DISRUP...
GUIDE TO KEEP YOUR END-USERS CONNECTED TO THE DIGITAL WORKPLACE DURING DISRUP...
 
SECURING THE CLOUD DATA LAKES
SECURING THE CLOUD DATA LAKESSECURING THE CLOUD DATA LAKES
SECURING THE CLOUD DATA LAKES
 
Complete Guide to General Data Protection Regulation (GDPR)
Complete Guide to General Data Protection Regulation (GDPR)Complete Guide to General Data Protection Regulation (GDPR)
Complete Guide to General Data Protection Regulation (GDPR)
 
Azure bastion- Remote desktop RDP/SSH in Azure using Bastion Service as (PaaS)
Azure bastion- Remote desktop RDP/SSH in Azure using Bastion Service as (PaaS)Azure bastion- Remote desktop RDP/SSH in Azure using Bastion Service as (PaaS)
Azure bastion- Remote desktop RDP/SSH in Azure using Bastion Service as (PaaS)
 
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDITREDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDIT
 
REDUCING TRANSPORTATION COSTS IN CPG THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN CPG THROUGH INTELLIGENT FREIGHT AUDITREDUCING TRANSPORTATION COSTS IN CPG THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN CPG THROUGH INTELLIGENT FREIGHT AUDIT
 
How to Approach Tool Integrations
How to Approach Tool IntegrationsHow to Approach Tool Integrations
How to Approach Tool Integrations
 
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDITREDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDIT
REDUCING TRANSPORTATION COSTS IN RETAIL THROUGH INTELLIGENT FREIGHT AUDIT
 

Recently uploaded

[2024]Digital Global Overview Report 2024 Meltwater.pdf
[2024]Digital Global Overview Report 2024 Meltwater.pdf[2024]Digital Global Overview Report 2024 Meltwater.pdf
[2024]Digital Global Overview Report 2024 Meltwater.pdfhans926745
 
HTML Injection Attacks: Impact and Mitigation Strategies
HTML Injection Attacks: Impact and Mitigation StrategiesHTML Injection Attacks: Impact and Mitigation Strategies
HTML Injection Attacks: Impact and Mitigation StrategiesBoston Institute of Analytics
 
Apidays New York 2024 - Scaling API-first by Ian Reasor and Radu Cotescu, Adobe
Apidays New York 2024 - Scaling API-first by Ian Reasor and Radu Cotescu, AdobeApidays New York 2024 - Scaling API-first by Ian Reasor and Radu Cotescu, Adobe
Apidays New York 2024 - Scaling API-first by Ian Reasor and Radu Cotescu, Adobeapidays
 
Understanding Discord NSFW Servers A Guide for Responsible Users.pdf
Understanding Discord NSFW Servers A Guide for Responsible Users.pdfUnderstanding Discord NSFW Servers A Guide for Responsible Users.pdf
Understanding Discord NSFW Servers A Guide for Responsible Users.pdfUK Journal
 
Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...
Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...
Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...Drew Madelung
 
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...DianaGray10
 
Automating Google Workspace (GWS) & more with Apps Script
Automating Google Workspace (GWS) & more with Apps ScriptAutomating Google Workspace (GWS) & more with Apps Script
Automating Google Workspace (GWS) & more with Apps Scriptwesley chun
 
Advantages of Hiring UIUX Design Service Providers for Your Business
Advantages of Hiring UIUX Design Service Providers for Your BusinessAdvantages of Hiring UIUX Design Service Providers for Your Business
Advantages of Hiring UIUX Design Service Providers for Your BusinessPixlogix Infotech
 
Histor y of HAM Radio presentation slide
Histor y of HAM Radio presentation slideHistor y of HAM Radio presentation slide
Histor y of HAM Radio presentation slidevu2urc
 
What Are The Drone Anti-jamming Systems Technology?
What Are The Drone Anti-jamming Systems Technology?What Are The Drone Anti-jamming Systems Technology?
What Are The Drone Anti-jamming Systems Technology?Antenna Manufacturer Coco
 
presentation ICT roal in 21st century education
presentation ICT roal in 21st century educationpresentation ICT roal in 21st century education
presentation ICT roal in 21st century educationjfdjdjcjdnsjd
 
Real Time Object Detection Using Open CV
Real Time Object Detection Using Open CVReal Time Object Detection Using Open CV
Real Time Object Detection Using Open CVKhem
 
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024The Digital Insurer
 
GenCyber Cyber Security Day Presentation
GenCyber Cyber Security Day PresentationGenCyber Cyber Security Day Presentation
GenCyber Cyber Security Day PresentationMichael W. Hawkins
 
Tech Trends Report 2024 Future Today Institute.pdf
Tech Trends Report 2024 Future Today Institute.pdfTech Trends Report 2024 Future Today Institute.pdf
Tech Trends Report 2024 Future Today Institute.pdfhans926745
 
From Event to Action: Accelerate Your Decision Making with Real-Time Automation
From Event to Action: Accelerate Your Decision Making with Real-Time AutomationFrom Event to Action: Accelerate Your Decision Making with Real-Time Automation
From Event to Action: Accelerate Your Decision Making with Real-Time AutomationSafe Software
 
2024: Domino Containers - The Next Step. News from the Domino Container commu...
2024: Domino Containers - The Next Step. News from the Domino Container commu...2024: Domino Containers - The Next Step. News from the Domino Container commu...
2024: Domino Containers - The Next Step. News from the Domino Container commu...Martijn de Jong
 
Tata AIG General Insurance Company - Insurer Innovation Award 2024
Tata AIG General Insurance Company - Insurer Innovation Award 2024Tata AIG General Insurance Company - Insurer Innovation Award 2024
Tata AIG General Insurance Company - Insurer Innovation Award 2024The Digital Insurer
 
Partners Life - Insurer Innovation Award 2024
Partners Life - Insurer Innovation Award 2024Partners Life - Insurer Innovation Award 2024
Partners Life - Insurer Innovation Award 2024The Digital Insurer
 
A Year of the Servo Reboot: Where Are We Now?
A Year of the Servo Reboot: Where Are We Now?A Year of the Servo Reboot: Where Are We Now?
A Year of the Servo Reboot: Where Are We Now?Igalia
 

Recently uploaded (20)

[2024]Digital Global Overview Report 2024 Meltwater.pdf
[2024]Digital Global Overview Report 2024 Meltwater.pdf[2024]Digital Global Overview Report 2024 Meltwater.pdf
[2024]Digital Global Overview Report 2024 Meltwater.pdf
 
HTML Injection Attacks: Impact and Mitigation Strategies
HTML Injection Attacks: Impact and Mitigation StrategiesHTML Injection Attacks: Impact and Mitigation Strategies
HTML Injection Attacks: Impact and Mitigation Strategies
 
Apidays New York 2024 - Scaling API-first by Ian Reasor and Radu Cotescu, Adobe
Apidays New York 2024 - Scaling API-first by Ian Reasor and Radu Cotescu, AdobeApidays New York 2024 - Scaling API-first by Ian Reasor and Radu Cotescu, Adobe
Apidays New York 2024 - Scaling API-first by Ian Reasor and Radu Cotescu, Adobe
 
Understanding Discord NSFW Servers A Guide for Responsible Users.pdf
Understanding Discord NSFW Servers A Guide for Responsible Users.pdfUnderstanding Discord NSFW Servers A Guide for Responsible Users.pdf
Understanding Discord NSFW Servers A Guide for Responsible Users.pdf
 
Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...
Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...
Strategies for Unlocking Knowledge Management in Microsoft 365 in the Copilot...
 
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
Connector Corner: Accelerate revenue generation using UiPath API-centric busi...
 
Automating Google Workspace (GWS) & more with Apps Script
Automating Google Workspace (GWS) & more with Apps ScriptAutomating Google Workspace (GWS) & more with Apps Script
Automating Google Workspace (GWS) & more with Apps Script
 
Advantages of Hiring UIUX Design Service Providers for Your Business
Advantages of Hiring UIUX Design Service Providers for Your BusinessAdvantages of Hiring UIUX Design Service Providers for Your Business
Advantages of Hiring UIUX Design Service Providers for Your Business
 
Histor y of HAM Radio presentation slide
Histor y of HAM Radio presentation slideHistor y of HAM Radio presentation slide
Histor y of HAM Radio presentation slide
 
What Are The Drone Anti-jamming Systems Technology?
What Are The Drone Anti-jamming Systems Technology?What Are The Drone Anti-jamming Systems Technology?
What Are The Drone Anti-jamming Systems Technology?
 
presentation ICT roal in 21st century education
presentation ICT roal in 21st century educationpresentation ICT roal in 21st century education
presentation ICT roal in 21st century education
 
Real Time Object Detection Using Open CV
Real Time Object Detection Using Open CVReal Time Object Detection Using Open CV
Real Time Object Detection Using Open CV
 
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
 
GenCyber Cyber Security Day Presentation
GenCyber Cyber Security Day PresentationGenCyber Cyber Security Day Presentation
GenCyber Cyber Security Day Presentation
 
Tech Trends Report 2024 Future Today Institute.pdf
Tech Trends Report 2024 Future Today Institute.pdfTech Trends Report 2024 Future Today Institute.pdf
Tech Trends Report 2024 Future Today Institute.pdf
 
From Event to Action: Accelerate Your Decision Making with Real-Time Automation
From Event to Action: Accelerate Your Decision Making with Real-Time AutomationFrom Event to Action: Accelerate Your Decision Making with Real-Time Automation
From Event to Action: Accelerate Your Decision Making with Real-Time Automation
 
2024: Domino Containers - The Next Step. News from the Domino Container commu...
2024: Domino Containers - The Next Step. News from the Domino Container commu...2024: Domino Containers - The Next Step. News from the Domino Container commu...
2024: Domino Containers - The Next Step. News from the Domino Container commu...
 
Tata AIG General Insurance Company - Insurer Innovation Award 2024
Tata AIG General Insurance Company - Insurer Innovation Award 2024Tata AIG General Insurance Company - Insurer Innovation Award 2024
Tata AIG General Insurance Company - Insurer Innovation Award 2024
 
Partners Life - Insurer Innovation Award 2024
Partners Life - Insurer Innovation Award 2024Partners Life - Insurer Innovation Award 2024
Partners Life - Insurer Innovation Award 2024
 
A Year of the Servo Reboot: Where Are We Now?
A Year of the Servo Reboot: Where Are We Now?A Year of the Servo Reboot: Where Are We Now?
A Year of the Servo Reboot: Where Are We Now?
 

Whitepaper: Futuristic Auto Solution - Happiest Minds

  • 1. Futuristic Auto Solution Happiest People Happiest Customers Futuristic Auto SolutionFuturistic Auto Solution
  • 2. © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved Executive Summary .............................................................................................................................3 Problem Description ............................................................................................................................4 Use Cases............................................................................................................................................6 Benefits ................................................................................................................................................7 Conclusion..........................................................................................................................................10 References..........................................................................................................................................10 Contents © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved22
  • 3. Executive Summary There was a time when the Automotive Retail industry seemed like a straightforward business of selling cars but now the automotive purchase cycle has become immensely com- plex. With internet becoming such a crucial part of our day-to-day life, it certainly plays a very important role in customers’ pre-buying decision making process starting from which car to buy to which dealers have been highly appreciat- ed by their customers. More than 60% of auto buyers already regard the internet as the most important tool influencing their purchase decisions. It clearly suggests that car dealers are dealing with the customers of a new era who are much better informed, which indicates that gone are the days of bully sales representatives who would sell cars for better incentives, irrespective of customers’ interests. All these data indicate the need for new strategies that can help the business build a strong and ever-lasting relation- ship with their customers. This kind of relationship is not only beneficial for the business, but also for the customers, as the purchase process seems more transparent - keep- ing the customer at ease. In order to provide this kind of the service, businesses © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved Another archaic belief that is prevalent among auto dealers is that as soon as the sale is over, the dealers believe that they have achieved their goal and their responsibility is over, but it is far from the truth. Reports suggest that the dealers never contacted 1 in 5 people after the purchase of their car. Some of them also pointed that calling right after to check if everything is ok will not be as beneficial as someone calling them after 12-36 months of the purchase to find out about the problems that customers may be facing because that is the time most of the issues begin to occur. Another finding from the report suggests that one year after the purchase of the vehicle, 40% of them are already thinking of their next vehicle. Increasing footfall by creating personalized experience and building customer relationship really need to know the customer inside out and for that, huge amount of data about the customers are important. Before the sales associates start interacting with the customers, there are some very important pieces of information required in order to deal with them most efficiently. For example, financial background, demo- graphics, preferences, lifestyle, income, previous purchases, complaints etc. Using these information car Know your customers well and understand their core needs Background check helps in segmenting the customer better Helps in designing a personalised catalogue and better resource mapping Loyalty: long term relationships and brand advocacy Send constant reminders about services and offers to keep customers close to the brand Take constant feedback about the product, parts and service offerings for faster brand recall Communicate to your customer according to where they are in their ownwership cycle Building customer relationship Study customer’s history and offer the best deals on products and warranties Personalise expert advice on financiqal asistance and auto insurance Effective communication Advertising products and features that resonates with the customer Lets the customer reach out through multiple channels and optimize the same for improved penetration © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved3
  • 4. Problem Description About 80 percent of first time car buyers and almost 100 percent of used-car customers surveyed online to begin their vehicle-buying process The average number of customer visits to dealer- ships prior to buying a car has dropped to just one, typically (from up to five not so long ago) One out of four customers feel that they are not satisfied with the dealership experience Customers want more frequent contact Customers look for more meaningful relationships Dealers fail to think about the post-sale situation A large number of current customers are actually in the market for a new car or look to upgrade, which represents enormous opportunity for sales Shoppers prefer 'new formats' such as test-drive centers, city showrooms, exurban superstores, temporary stores, online stores, and also home visits Gradual decrease in contact between the customer and car dealers dealers can also map their resources better with various customers for a better conversion rate. With all the information available at the disposal of the customer, it is imperative that the auto industry embraces the paradigm shift in these customers’ behavior and their expec- tations from the industry. Customer expectations are still there to be met, even if they are more demanding than back in the pre-digital 'analogue' days and it all can be achieved only if businesses know their customers by making use of all the data available. Traditionally, automotive sales consultants would sell deals to the customers, where majority of whom had very limited knowledge or absolutely no clue about what they were buying. As a result, they heavily relied on the information provided by the sales consultants but this is not the case in today’s world. Customers are extremely aware, sophisticat- ed, and at times very demanding with their requirements about the products, OEMs, financial assistance and other services. 75% of vehicle owners received no contact when they were ready to buy a new one 37% of the vehicle owners recieved no contact during the ownership of their vehicle (almost half of them wanted it) 20% of the recent vehicle buyers recieved no contact after purchase OWNERSHIP CONSIDERATION SHOPPING OWNERSHIP ENDOFTERM According to the Automotive Customer Journey Study and McKinsey & Company eport called – Innovating Automotive Retail, below are some of the key findings: © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved4
  • 5. © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved5 Most shoppers expect to yield more information on things not easily found online during their visit to the dealer Automotive customers begin their journey with “an initial-consideration set” of 3.8 brands; they choose these brands for a number of reasons, but long-term awareness campaigns play a crucial role A well-connected dealership is prone to be more successful The number of opportunities for auto dealers are sharply decreasing with dropping visits of the customers, and dealers often get just one chance to strike lucky. This makes it clear that when a customer walks in, they leave with an amazing experience or else they will never come back Every customer is highly educated about the purchase they want to make and their visit must expose them to a set of possibilities that they could not explore on the internet Dissecting all the data points above, we have shortlisted the following major problem areas: In order to plug the holes explained above, it very crucial to know the customers well and stay with them at all times during their product ownership lifecycle. The key here would be the data pertaining to these customers and using it to offer products, features, assistance and services that are more precise. Customer Insights from social data 40% I recieved a raise, bonus or other new work related income 21% I recieved a promotion 15% Its necessary for my line of work 14% Changed jobs and I need it for my new commute 10% My employement changed in another way Majority of the customers expect much more mean- ingful and a long lasting relationship with their dealers so that they can constantly be communicat- ed appropriately depending on the cycle of their ownership With the advent of internet and social media, it is extremely important to manage every customer’s expectation and track their engagement through multiple social and web channels to improve the brand recall
  • 6. Use Cases © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved6 The use case below will show how information about the customers/prospects always helps, and how auto dealers can always be one step ahead in the game by using the data to make their customers’ life simpler and convenient. In the use case below, we talk about Jack who recently got a job promotion, and suddenly he realizes that he may have some extra disposable income, but he is not sure where does he really want to invest it in. Using customer data for better experience & expectation management He shares this news with his friends over the social media with a #promoted. This information is tracked by our Auto solution and depending on the customer’s profile, he receives advertisements of excellent deals on various cars Jack gets interested and follows the ad, which takes him to the car dealer’s website where he can login through any one of his social profile. As he logs in, his social profile is scanned to understand Jack’s personality. This personality scan would provide personal insights indicat- ing if he is a spendthrift, maintains a high living standard, owns flashy things, has many friends, very social and so on Our system analyzes his profile and does a customer profiling and accordingly he gets offers. He assess his options and decides to book an appointment to visit the shop The system tracks all the options and their features that he was assessing and mapped to his profile As he walks in to the store, he is asked to fill in his details on the kiosk for a salesman to attend to him. He logs in and he is asked to provide his SSN/Driving license details for more personalized offers. As he enters any of the two details, complete history of Jack is fetched from the heap of data stored and managed. The data has all the information about Jack varying from his credit score, to his driving skills, to his income range, the company he works for, his past purchases, etc. and this data is assimilated with social media data to design a more relevant product catalogue pronounced with cars and services that would matter to Jack Jack gets promoted and he shares this good news wuth friends and family over the social networks. Now with the increased disposable income he wants to get a car. 1. Goes to the dealer’s website. Curious to know more, he books an appointment and visits the store. 2. 3. Associate gets all the customer info on his tablet and he prepares his sales pitch accordingly. 4. Jack gets his dream car and because of his safe credit history and safe driving record,gets a car loan at a very low interest ratesand extremly low insurance premiums. 5. Deal success 6. Maintains communication throughthe lifecycle of ownership of the car making Jack feel absolutely care free 7. Delighted by the experience, Jackbecomes a brand advocate and talks about it in his social group which furthur influences others to join the elite club 8. 9. Strengthens brand value and brand recall in customer group Gets promotional offers on his car in his social feed and mails. Provides his SSN or driving license details. Logs into the digital kiosks,access his offers, provides more details about his preferences and submit request. Jack’s purchase details and feedback is recorded and marketed over social channels. Tracks Jack’s happiness quotient through multiple channels. Customer’s credit history, driving history, past purchase and preferences are analyzed to customize offerings
  • 7. © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved7 Products competitively priced to suit his need Hassle free loans with low interest rates Recommendations on which all insurances he may want to renew or buy new ones with easy insuance premiums Annual free-of-cost premium servicing and oppor tunity to become a lifetime member after that period Accident assistance Service/oil change reminders Premium payment reminders New launch of products that may interest him Tips on better performance of the car Factors on which interest rates, EMIs, insurance premiums depend Trivia questions, quizzes, brain teasers, fun facts, videos, photo slideshows Customers have the flexibility to choose the way they want to interact with the business Saves customer’s time and effort to start the same process all over again Benefits As Jack reviews the product catalogue, he reads the product description, their reviews, financial assistance details, and terms & conditions and he becomes almost certain that he cannot get a better deal anywhere. He selects the products and the services that he is more keen on and submits his request Sales consultants are mapped with his request who have a great deal of knowledge on his interest areas. These consultants will get the details of the products and services that interest him - at the same time some background of the customer that will help them prepare their sales pitch better and communicate things that resonate with Jack Finally, Jack purchases his dream car and the dealers help him avail the loans at very competitive interest rates and insurances with comparatively lower premium The auto dealer now have access to all the details that there is to know about Jack, the dealer can keep track of the complete ownership cycle of the car and maintain contact throughout by providing: Jack is so elated about the buy and the services that come along with it he continues to talk about it on social forums, helping other customers looking to buy a new car make a decision resulting in increased footfall and exponential growth of brand value Enhances shop ambiance Command customers’ attention through digital displays, which make use of images, videos and animations Customize content based on store location, customer demographics, time of day, and other attributes It can be a form of entertainment/education for customers waiting to be attended Provides the flexibility to change the content any number of times during the day without impacting the cost and has no lead time Reinforce existing marketing channels such as television, radio, print or events and promote new products, product lines, or product categories, servic- es, up-sell, cross-sell, and drive traffic to particular areas in the store Provides a Cross-Channel Experience Data captured about customers can extremely be useful in more precise customer profiling and understand the With the changing needs of the customer, our customer based solution provides a long list of benefits and is indis- pensable for the retail automotive sector. 1. Improved understanding of Customers and their needs 2. Better Customer Engagement through Digital Kiosks upcoming trends that can be used to ideate new offerings, improve services that will appeal to the majority Better targeted promotions of cars, OEMs that will appeal more to the customers knowing their prefer- ences Offer better personalized deals depending on their credit score, driving history, previous purchases and other demographic details and reduce the decision making cycle Cross-selling and up-selling becomes much easier and is more effective knowing what the customer wants Data captured through these sources can be mone- tized, which can create opportunities for the compa- nies untapped information to create new sources of revenue
  • 8. Reasons for Car users to use internet © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved Helps in understanding various triggers in customers’ life and promote relevant deals for better customer response Customers ask friends and family for advice at every stage in their automotive purchase journey and hence it is really important that business tracks the engagement and feedback provided the customers or potential buyers and act quickly on the same Customer communities on the web and social channels are powerful incubators of brand loyalty and can help improve the foot fall drastically Customers leave multiple traces of information on the internet that can act as a catalyst to start a campaign or a promotion to the targeted audience Helps in understanding various triggers in customers’ life and promote relevant deals for better customer response Customers leave multiple traces of information on the internet that can act as a catalyst to start a campaign or a promotion to the targeted audience Scale word of mouth recommendations Customers can be encouraged to check-in on social forums through these devices or share products/ser- vices with their friends/family resulting in word-of-mouth marketing 3. Customer Tracking and Engagement through Web and Social channels © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved8
  • 9. Factors that help customers choose their car dealers Remind customers about things important to customers like - Service due, Insurance expiration, EMI payments to earn a good friend reputation Analyze customer’s data and offer promising financial assistance or better service delivery options knowing the pain points of the customers Communicate to customers depending on the stage of their ownership cycle Collect feedback from the customers through various channels and use them as the metrics for improvement Track sales consultants performances through feedbacks and suggestions and customize trainings on the same to serve customers better and score high on customer confidence index 4. Maintain Loyalty and Improve Brand Advocacy © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved9
  • 10. Conclusion Leveraging mobile data offers an attractive opportunity for new revenue stream and customer experience enhancement. Data from different sources - online transaction, loyalty programs, call center records when treated as an input to the proposed solution will identify patterns which would generate more precise customer segmentation and so forth. Such out of the box capabilities of the solution will drive growth and revenues in organizations. Over the next few years, companies with significant data will increasingly look to monetize their data intelligence to restore lost revenue and as well create new opportunities for their institutions and customers. Business Analysis/Consulting professional with 7+ years of experience in the Retail and E-Commerce industry spanning across Mobile and Web. He has strong interests in making use of technology to constantly simplify and improve customers’ experiences, especially around the Omni-channel and digital signage area. In his spare time, Vivek is passionate about music and football. Author http://www.slideshare.net/CSMGGlobal/data-monetization-leveraging-subscriber-data-to-create-new-opportunities http://www.digitalbuzzblog.com/infographic-2013-mobile-growth-statistics/ http://www.dailyfinance.com/2011/10/25/beyond-card-fees-banks-look-to-sell-your-data/ References Vivek Kumar Domain Consultant - Retail / E-commerce © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved10 http://online.wsj.com/news/articles/SB10001424052970204002304576627030651339352?mg=reno64-wsj&url=http% 3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052970204002304576627030651339352.html
  • 11. © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved© Happiest Minds Technologies Pvt. Ltd. All Rights Reserved Happiest Minds is focused on helping customers build Smart Secure and Connected experience by leveraging disruptive technologies like mobility, analytics, security, cloud computing, social computing and unified communications. Enterprises are embracing these technologies to implement Omni-channel strategies, manage structured & unstructured data and make real time decisions based on actionable insights, while ensuring security for data and infrastructure. Happiest Minds also offers high degree of skills, IPs and domain expertise across a set of focused areas that include IT Services, Product Engineering Services, Infrastructure Management, Security, Testing and Consulting. Headquartered in Bangalore, India, Happiest Minds has operations in the US, UK, Singapore and Australia. It secured a $45 million Series-A funding led by Canaan Partners, Intel Capital and Ashok Soota. Happiest Minds © 2014 Happiest Minds. All Rights Reserved. E-mail: Business@happiestminds.com Visit us: www.happiestminds.com Follow us on 9 This document is an exclusive property of Happiest Minds Technologies Pvt. Ltd. 12 © Happiest Minds Technologies Pvt. Ltd. All Rights Reserved11