The power of post-purchase: How automakers can maximize customer lifetime value

3. Connectivity will become key

Integrating the car into the ecosystem is critical, and in-car connectivity plays a vital role in keeping consumers connected and engaged while on the go.

Connectivity enables the development of new digital ecosystem services that offer a more immersive and personalized driving experience, better safety and security, and added value services such as OTA updates and in-car payment solutions.

Here are a few of the most promising applications for car connectivity:

Usage-based insurance (UBI): Pay How You Drive policies offer reduced insurance premiums to safe drivers, as cars become more equipped with sensors. Pay As You Drive policies provide on-demand coverage for specific trips, catering to the rise of short-term rentals and flexible mobility options.

Predictive maintenance: Predictive maintenance leverages machine learning to alert car owners of potential vehicle issues before they arise. It can proactively order parts and schedule repairs, saving time and money for vehicle owners.

Charging booking: Charging booking lets electric vehicle (EV) owners reserve charging spots in advance, helping to alleviate range anxiety and minimize disruption to the EV driving experience.

In-car payment: In-car payment lets anyone make payments from inside the vehicle for services such as parking or tolls. With the rise of EVs, in-car payment lets drivers pay for charging services without having to leave their car.

OTA updates: With OTA updates, OEMs can expand their service offerings to all car passengers, connecting CLV to loyalty programs and providing targeted services at the ideal moment.

• Concierge services: The car brand NIO, for example, offers concierge services that include battery swapping, social hubs, mobile charging and 24/7 customer support through its app.

By offering ongoing engagement opportunities and value-added services through cars that are plugged into the larger ecosystem, OEMs can create a more meaningful and memorable ownership experience for customers.

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