13 Mar 2018
Are you taking advantage of big data within your dealership?
Chances are you use data to inform car design or technologies within the dealership, but what about your customers?
A study carried out by Maritz CX found that the average car dealership would profit the equivalent of an extra £80,600 a year by making customer experience a top priority. It’s a wonder then, why the extortionate amount of data available isn’t being fully utilised by car dealerships to address this issue.
Surprisingly, it's rare to see dealers taking full advantage of data, especially considering how much it can improve processes internally and with customers, respectively.
A recent Autotrader study revealed that 72% of customers would visit dealerships more often if the buying process was improved. So, why aren’t car dealerships doing the obvious?
Data ranging from basic demographic data to behavioural and psychological data will provide valuable insights that need to be leveraged. By utilising and working with data in real time, you know your customer’s preferences, interests and behaviour. This is going to give dealerships the ability to tailor each customer experience to them personally, providing the improved service and buying process customers are looking for.
For example, if you know and act upon the fact that, Jenny has a busy schedule and likes a speedy service process with regular updates on the status of her car while it’s in the garage via text message and not via phone call, as she can’t take calls during the day, then you’ve got a satisfied customer.
On the other hand, if you know Kevin likes to come into the dealership and spend a while talking to someone about his car, what needs servicing and other products available, then you can adapt to that too. The automotive service process can be far more personalised than it is now, and this is the future of the industry.
With information technology shaping the industry in recent years, why isn’t it being fully utilised? Dealers receive data in real time, they know when tyres need replacing and when the engine faults and the same time the customer does. All car sensors tell a story and so do all customers in the way they react, interact and communicate with the dealership.
If customer retention and revenue are high priorities for you then the utilisation of big data in every part of the process is crucial, especially when it comes to customer service and improving customer experience. The behavioural insight to be gained is vast and informs how, what and when dealerships should communicate with each customer. So, are you taking full advantage of big data?