Analysis and calculation
the customer retention rate
Expert: Michael Scharpf
Industry: Automotive & Engineering
Area: Marketing & Sales
Are you losing track of your customer retention? We can help you focus on your most valuable customers with our innovative retention rate analysis and calculation solution.
OUR AI AND DATA SCIENCE Case studies:
EXPERIENCE FROM OVER 2,000 CUSTOMER PROJECTS
A successful aftersales sector is crucial for car manufacturers to retain customers in the long term and increase sales. One important metric for this is the retention rate. However, a leading car manufacturer was faced with the challenge of calculating and analysing the retention rate in different markets and at different levels of aggregation.
In order to increase customer loyalty and the turnover of the car manufacturer, the company relied on the support of data scientists from Alexander Thamm GmbH. They developed an analysis tool that not only allows the retention rate to be broken down according to vehicle attributes, but also allows the vehicles to be divided into dynamically definable age segments and the rate to be calculated on different reference dates. In addition, information on service packages and special equipment was linked to the tool.
Thanks to the implementation of the tool, the individual markets of the car manufacturer can independently carry out success measurements of customer campaigns. The big advantage here is that automating the calculations not only saves a lot of effort, but also improves the quality assurance of the results. In addition, the tool opens up the possibility of increasing customer loyalty and customer turnover through active upselling of service packages and special equipment.
In addition to providing the analysis tool, Alexander Thamm GmbH also helped the car manufacturer to improve its overall data strategy. This included, among other things, the definition of data standards and processes as well as the introduction of data quality management methods.
For companies that also want to calculate and analyse their customer retention rate, Alexander Thamm GmbH offers a customised solution. By using modern technologies such as data science and artificial intelligence, we support our customers in optimising their business processes and achieving business management goals. If you too would like to increase your customer loyalty and boost sales, please feel free to contact us and let us develop a suitable solution together. And who knows, maybe we will soon be able to count your company among our satisfied customers who have been able to successfully calculate and increase their customer retention rate.
Curious now? Let us show you what sets us apart from other companies and how we can help you achieve your goals.
Michael Scharpf | Sr. Principal Key Account Manager | Alexander Thamm GmbH