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AM Live takeaways: The future of automotive retailing

Speaker: CDK Global

We recently headed down to the NEC in Birmingham to exhibit at AM Live. It was fantastic to be a part of such an important event in our sector, and our exhibition stand was busy throughout the day, with a great deal of interest in our compliance clinic and the updates to our platform – thank you to those of you who stopped by!

Seminars ran throughout the expo – covering a wide range of interesting industry topics – so we wanted to share with you our key takeaways…

Evolving with the consumer

The importance of retailers being prepared and willing to change with the modern consumer has never been greater. As society modernises so should their dialogue with consumers – there have certainly been memorable examples of companies missing the mark when it comes to their marketing strategy.

Take the example of 3D films. As consumers we’re used to multitasking, so the concept of wearing 3D glasses to watch a film was irritating and unsustainable. The learning to take from this is – take the time to understand your consumer – it’s certainly worth it.

In recent times, there’s been a shift from ‘E commerce’ – commercial transactions conducted electronically on the internet – to ‘Me commerce’. The difference really lies in a business’s marketing channels and strategy being tailored to an individual rather than a mass market. It’s an approach which is more important than ever, with 52% of consumers likely to stop engaging with a brand after one bad experience. Therefore, three questions to ask yourself are: is your marketing credible, do consumers find it useful and moreover is it relevant?

The customer is at the centre of the whole sales process – and buyers no longer want to be ‘sold’ to. Consumers don’t respond well to cold interaction, now the focus is on providing a high-quality, friendly service to everyone who enters a showroom or car dealership.

Individuals should feel confident and comfortable that they are buying the right car, from a team of experts who are willing to adapt their sales technique to their personal preferences to ensure sales are made compliantly and they are being treated fairly.

How should the automotive industry adapt?

Here are some key takeaways which can be readily applied to the automotive industry:

· Listen to what consumers want

· Keep excellent customer service at the forefront of everything you do

· Give buyers space to consider their options

· Social media conversation can strengthen your business offer

· Customers should be able to track you across lots of discourses

· Although face to face is important – it shouldn’t be the only option

· Aftersales should be a focus for all businesses in the automotive sector

· Reputation is key – once damaged, it’s difficult to repair

It’ll be interesting to see whether these ideas will be used in the automotive sector over the coming year, and whether at AM Live 2020 we’ll have seen a shift in consumer perspective.

Find out more about our platform here.

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