It is an understatement that the global automotive industry is going through unprecedented turmoil. The industry has found its most recent expression in a tightened credit market and declining consumer confidence which combine to stifle demand for new vehicles. In addition, the industry is experiencing stagnant top lines and shrinking bottom lines. In this scenario, one of the most important and imperative tasks for OEMs is to decipher and depict consumer behavior and expectations regarding the products and services so that they can retain their customers longer.

Deep research on consumer behavior and its relationship with the organization has become critical to counter challenges around customer retention and OEMs ability to derive maximum value from the customer lifecycle.

Wipro understands that for an OEM to be competitive in today's economic scenario, they not only have to acquire new customers but also retain the existing customers throughout the lifetime. In order to address this, Wipro's automotive group has developed a business solution framework called "Customer Lifetime Value Management" (CLVM) which helps OEMs in retaining existing customers and deriving maximum value from the entire customer lifecycle.

Benefits of Customer Lifetime Value Management Solution

Wipro's framework can help organizations in taking better business decisions by monitoring customer interactions across all touch points right from the first contact to purchase and repurchase by having a 360 degree visibility of the customer. It will also help in setting customer-centric and retention focused business rules and have high-end analytics to give deeper insight into the customer's preferences, behavior and attitude towards the brand.