Predictive Analytics Drive Incremental Sales

Industry News, Insights

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.

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