In these uncertain times when new car sales are plummeting, many OEMs are looking to adopt new ways of working and growing their aftersales business with data analytics. One of the many complexities facing the automotive industry, is understanding the digital customer and connecting data siloes to predict customer needs.
When our OEM partners ask us: “How can we capture more parts and service sales?” or “How do we sell more?”, we respond by asking: “Who are your customers?” and “How are you communicating with them?”
There is now more customer information and transaction data than ever before. However, the data lies dormant in disparate OEM, DMS and other dealership systems across Parts, Service, Warranty, Inventory, Showroom and F&I systems. Imagine the power of bringing disparate information together to form a more complete customer profile.
Connecting data silos remains one of the most under-exploited strategies by OEMs. We can help you create opportunities to drive better customer targeting and grow aftersales profits with data analytics.
Data Analytics: Bringing it All Together
OEMs and dealership are missing opportunities to identify hidden revenue and productivity gains. Current data management systems fail to identify actionable insights, based on Repair Order history, Lapsed Service Customers, Service Absorption metrics, Parts Orders and other key points of information gained during service and repair engagement with customers.
So, what sort of tools are required and how do OEM and dealership management harness these insights?
The first crucial step is bringing together all the siloed data in a standardised format. This requires an automated data gathering system that can leverage different data sources from OEM, DMS and vehicle systems such as connected car platforms – in real time.
Turning Data into Actionable Insights
The gathering of different data structures and incorporating them into a consistent set of data on one platform allows the application of predictive analytics to identify opportunities to run timely, personalised and targeted customer marketing campaigns.
Analysing data using automated systems is the key to identifying opportunities:
- Where are my wholesale parts opportunities?
- Which service customers are lapsed?
- How are dealership employees performing?
- Which customers should be targeted?
- What offers will resonate with customers and impact revenue most?
Often, OEMs and dealerships turn to specialists or consultants to uncover insights. This approach is often expensive, unmeasurable, and the solutions presented often lack the automated workflow required to take advantage of the insights that are critical for effective and targeted campaigns.
Data Analytics with Automated Workflows
Clever data management processes combined with a leading-edge predictive analytics engine, is the ‘best practice’ solution we recommend to our OEM partners. Integrating an automated marketing engine to use those insights is where the opportunities are for OEMs and dealerships.
Infomedia’s data analytics platform manages structured and unstructured data and incorporates innovative real-time streaming of customer campaigns to create immense value in driving successful parts and service campaigns.
Built-in AI and visualisation capabilities delivers OEMs using Infomedia’s data analytics platform insight to understand customers with greater accuracy and depth in the aftermarket. The outcome is exceptional ROI on parts and service marketing.
Data Analytics for Parts Opportunities
Data Analytics for Service Operations
What Benefits can you Expect?
Dealerships and OEMs can benefit from advanced analytics to improve visibility for parts and service operations – along with any assets that hold more potential for sales.
Being able to turn disparate customer data into insights, plays a key role in building OEM capabilities to define success metrics, predict future events and model parts and service marketing outcomes more proactively. Specific and accurate data insights empowers OEMs to embrace predictive analytics as an alternate means of capturing hidden revenue and increasing productivity, at a time when data availability is exploding, and new car sales are deteriorating.
Get Started Today!
At a time when new car sales are slowing, now is the time for OEMs to start laying the foundation for long-term aftersales growth. Utilising technology-enabled data analytics to identify hidden revenue and increase the productivity of customer programs is crucial in the current and ever-changing landscape.
Data analytics provides new capabilities that can help global OEMs and their dealership network better understand their customers, make better decisions, improve customer satisfaction, increase customer loyalty and drive profitable outcomes.
To find out how you can harness the power of predictive analytics to boost aftersales performance, please contact us today and let us know how we can help.
Vice President, Data Insights – Nidasu
Jonathan is a technology expert with a passion for workflow optimisation and automation. By combining his engineering and systems design background with years of experience in dealership senior management, he co-founded Nidasu with Tim Courtney, with an aim to grow sales and retention for dealerships and automakers.