Luxury Car Company
5% Increase in Conversion Rates
A luxury car company wanted to deepen the level of personal outreach and change their marketing strategies. They used WealthEngine to build customer personas and standardize the best practices.
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The Goal
This luxury car company needed to learn more about their current customers in order to increase segmentation and personalize their marketing strategies.
WealthEngine's Solution
WealthEngine enabled this luxury car company to leverage demographic, lifestyle and interest data from WealthEngine to build customer personas. WealthEngine also created a model to further refine a target list of HNWIs with the aim of identifying buyers most likely to convert.
Their Result
Through hosting invite-only test driving events, the company was able to increase their conversion rates by 5%. For instance, of the 100 attendees at one event, five purchased a top-end model worth $200,000+. This was an unprecedented 5% conversion rate compared to the typically less than 1% industry rate for luxury products.