In the next five years, the automotive landscape is set to change more than it has in the past century — and customer experience (CX) will be a central battleground.
From numerous conversations with our automotive customers, we know how excited many in the industry are about both the arrival of innovative mobility technologies and the chance to build deeper relationships with their customers.
While it is an exhilarating time for the industry, it’s also a time fraught with challenges. COVID-19 was just one disruption forcing a reimagining of the automotive sector and what customer-centricity really means in it. The rise of Millennials and Gen-Z also introduces considerable uncertainties into the automotive value chain.
Where and how do mobility leaders start transforming their organizations to thrive in this new world where customer loyalty can be won and lost in seconds? Which CX initiatives by original equipment manufacturers (OEMs) and dealerships are most likely to succeed?
Automotive Customer Report (2021)
In an experience-centric economy, the end customer will always lead the way. By listening to their needs and desires, mobility leaders can confidently embark on the transformational journeys that will redefine not only their businesses but the entire industry.
That’s why we joined with our partners at Microsoft and Publicis Sapient to conduct a global study of the automotive customer. We asked them about their habits, hopes, and pain points. Their answers can be found in this study, which can serve as a North Star to help guide your automotive organization to the choices that will win loyalty and grow revenues.
The force of change
A clear theme that bubbled up from the research is the impact that generational transition will have on the automotive world.
Baby boomers defined the car culture we have come to know. But the digital affinity and innate demand for convenience of younger generations is creating a new mobility culture that will dramatically impact how the industry operates in the future. Put simply, Gen-Z is set to be the force that redefines the future of mobility.
Take, for example, the graph above, pulled from our industry report. It clearly shows that brand loyalty is rapidly eroding while expectations for digital experiences are gaining ground about as fast.
And the scope of this change isn’t limited; it’s global. In our detailed, country-by-country survey, we asked automotive end-customers if they would be more likely to purchase a vehicle if they could buy directly from a website.
In nearly every geography surveyed, the answer was a resounding “yes.” Automotive customers are hungry to engage in primarily online automotive transactions.
Get the full story
These are just a couple of highlights. When you’re ready to learn how to position your automotive organization to thrive in this changing world, you can download the management summary now and register to receive the complete industry report.
Aswin Mannepalli is the Global Director of Industry Strategy and Marketing at Sitecore. Follow him on LinkedIn