Data and Analytics

How the Auto Industry Can Make a Personalized Customer Experience

How the Auto Industry Can Make a Personalized Customer Experience

July 13, 2023 | Deana Glenn

Introducing innovative solutions to the customer experience in the auto industry is critical. The events of the past few years, including the current vehicle affordability challenge, have forced all industry players (dealers, OEMs and the agencies, connectors and partners that support them) to quickly adapt or be left behind. This presents an opportunity for those that get the consumer experience right to make an impact. Current data shows that:

  • Omnichannel sales accounted for 31% of unit sales. 7% of sales sold end-to-end online and 60% being out-of-market buyers for one dealer group.鹿 

  • 44% of consumers visit a website after receiving direct mail. Pairing with digital this can increase that response by 25%.虏 

  • Improving customer retention by 5% can increase profits by 25% to 85%.鲁

This means that the auto industry can increase profits and drive revenue if they can 鈥榞et it right鈥 when it comes to customer experience. Having a unified view of consumers regardless of channel can help deliver a just-in-time, personalized sales strategy that provides the consumer with an offer that鈥檚 right for their situation. Here are three key considerations when creating an optimal customer journey.

1-Consider 鈥淎ffordability-Driven Marketing鈥   

So, how do you ensure you鈥檙e targeting customers that are not only in the market for a vehicle but can also afford to buy? Build audiences based on affordability by using directly-sourced data versus survey-based, where possible. Making for a more precise view of  affordability,this direct-measured data enables marketers to generate relevant offers and offer smart alternatives. This puts consumers in the right vehicle.

2-Implement 鈥淒IY Identity Resolution鈥 

It is important to reconcile a consumer's physical and digital footprint into a single unified view across the enterprise, versus a fragmented view within business silos. By using identity data you can validate, enhance, verify, and link consumer records across silos for more effective customer relationship management (CRM) and prospecting results. That way you can drive more effective customer targeting, segmentation and market tracking.

3-Prioritize 鈥淥mni-Channel Activation鈥 

How can you deliver a consistent customer experience across all channels, in a world where high friction, fragmented encounters can lead to abandonment and defection? Whether your organization is strictly ecommerce, traditional brick and mortar, or a blend of both 鈥 all channels must be integrated so that the customer has a unified and consistent experience. Example channels include:

  • Marketing and advertising

  • Branded web app

  • Internet hand raisers

  • Service bay appointments

  • Dealer showroom floor

Incorporating these solutions can give the ability to activate a hyper-personalized experience that allows them to grow while putting the customer experience first. 香港六合彩玄机 solutions can get you the data you need to resolve identities, understand who is in-market, and what they can afford. To learn more about how we can help you meet the demand of today鈥檚 consumers and power a personalized end to end seamless, car buying experience reach out to 香港六合彩玄机 today. For more click here. 

 

鹿 November 10, 2022, Automotive News 鈥淎 digital shift: Dealer groups adjust as more customers turn to omnichannel sales鈥 https://www.autonews.com/retail/car-dealers-adjust-customers-turn-omnichannel-sales

虏 Posting not provided, Kennedy Marketing Group 鈥8 Statistics That Prove Direct Mail is Still Relevant鈥
鲁 June 17, 2022, Automotive Mastermind 鈥淕uide to Dealership Customer Loyalty鈥 restatement of statistics revealed in a Harvard Business Review Study ,

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Deana Glenn

Deana Glenn

香港六合彩玄机 Account Executive, Automotive Enterprise Alliance Manager

Deana Glenn is a data aficionado with over 30 years of experience in working with Fortune 500 clients to identify opportunities that enrich the consumer experience for business success.