Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on solutions for the automotive sector. As there is a large number of startups working on a wide variety of solutions, we want to share our insights with you. This time, we are taking a look at 4 promising automotive customer data startups.
Heat Map: 4 Top Customer Data Startups
For our 4 top picks, we used a data-driven startup scouting approach to identify the most relevant solutions globally. The Global Startup Heat Map below highlights 4 interesting examples out of 172 relevant solutions. Depending on your specific needs, your top picks might look entirely different.
Pitstop – Service & Maintenance
Automotive companies need to retain and grow their customer base to stay ahead of their competition. The quality of service and maintenance greatly influences the decision of the customer while purchasing a new vehicle. Analyzing customer data lets companies gain actionable insights that allow them to provide a better experience and increase loyalty in their customers.
The Canadian startup Pitstop develops a customer management platform to assist vehicle dealers in improving customer experience. It notifies the dealers when customers face any issues with their vehicles, and allows them to proactively reach out to the customers. It also reminds customers when their service is due.
Vehcon – Auto Insurance
The introduction of newer technologies in modern vehicles has spurred new insurance trends for the automotive sector. These include insurances based on vehicle use and driver behavior. Data from vehicles is pivotal for these new kinds of insurance solutions as they utilize automotive customer data to streamline the entire process.
The US-based startup Vehcon develops an application to collect automotive customer data, including the location of a vehicle at any particular time. This assists insurance companies to verify the credibility of claims made by the customers.
Cazana – Automotive Manufacturing
Automotive markets across the world are witnessing transformations in vehicle ownership trends – away from car ownership and toward car sharing. Automotive customer data provides actionable insights that manufacturers feedback into product development to increase the desirability of their products.
The UK-based startup Cazana uses automotive customer data to offer insights to automotive manufacturers. They analyze vehicle finance markets around the world to estimate the residual values of vehicles. It allows manufacturers to optimize their production and marketing, increase the residual value of their vehicles, and boost their sales.
Business Intelligence Insights – Marketing
Innovations from tech companies have made the global automotive market very competitive. Automotive companies are leaving no stone unturned to reach their customers. Startups support this effort by using automotive customer data to develop personalized marketing strategies and boost vehicle sales.
The Indian startup Business Intelligence Insights provides inquiry management services to automotive dealers. They analyze customer information and responses gathered during customer walk-ins to identify customers who are likely to make a purchase, making it easier to re-target them and close the sale.
What About The Other 168 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence for your Proof of Concept (PoC), partnership, or investment targets. The 4 automotive customer data startups showcased above are promising examples out of 172 we analyzed for this article. To identify the most relevant solutions based on your specific criteria and collaboration strategy, get in touch.