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How can customer data drive a better automotive CX?

Sponsored Content From Concentrix
This content was paid for by an advertiser and produced by the Automotive News Content Studio.
February 21, 2023 09:11 AM
Patrick Smith, Senior Director, Product Strategy and Marketing, Concentrix
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    Patrick Smith, Senior Director, Product Strategy and Marketing, Concentrix 

    Today’s vehicles, including hybrid and electric, are more connected than ever. We may not be Jetson’s level yet (as much as we may have hoped), but contactless digital experiences have dramatically changed customer expectations for how they buy and service their vehicles.

    By 2035, connected vehicle sales in the US are expected to grow over 260% i. In California and Canada, 100% of new vehicles will be required to be zero-emission in that same period.

    In response to these evolving expectations, automotive brands must transform the automotive buying and ownership experience. That includes how they strategize, resource, and execute on delivering a better, data-driven customer experience (CX) for the future. We recently conducted a study to determine just how effective OEMs are at these critical CX-building activities.

    To achieve desired CX, automotive brands must invest in their customer data strategy, infrastructure, and use of data. That means asking the big questions, like:

    • How do you get customer data?
    • How do you align that data with your strategy and vision?
    • How do you provide access to the data?
    • How do you enable effective use of the data?

    Answers to these questions are central to success.

    Understanding the Challenge


    To discover just where challenges lie for automakers, Concentrix Catalyst and Salesforce® surveyed 300 leading OEMs and dealers across North America. We asked about their perceptions on delivering compelling customer experiences, and what they felt contributed to or inhibited their success:

    • CX Vision and Strategy: Do they have a defined, effective, and clearly communicated approach to customer experience?
    • Resources (Talent & Budget): Do they have the talent to deliver a great customer experience? Do they have the budget to enable seamless, connected data management, communications, and digital and e-commerce experiences?
    • Technology: Do they have the technology in place to collect customer data and communicate it across all channels, for all stakeholders?
    • Customer Data: Do they have a means of collecting, sharing, and using customer data to drive better CX?

    Based on the survey data, we compiled our 2023 Automotive CX Executive Report, which provides key insights on automotive CX maturity levels.

    What the data shows is that industry leaders follow through on their vision and strategy. They execute on customer data across the enterprise, infusing it across most customer engagement points. Below, we will explore each of those areas, along with the barriers and opportunities involved.

    Following Through on Vision and Strategy


    At Concentrix, we know that delivering great CX starts with guiding our clients to establish a strong vision and strategy. It’s what structures customer perspective to inform the intended customer experience.

    Our research shows that leading companies drive excellence through to execution—what we call design, build, and run. The research showed that the leading 10% of respondents better define and communicate their CX vision and strategy. This better positions them to follow through on success. There’s a 45% difference between the leading respondents and the bottom respondents on two key statements:

    • Has defined an effective customer experience vision and strategy.
    • Has clearly communicated a customer experience vision and strategy within the organization.

    But customers don’t experience a brand’s vision or strategy—they experience its execution. Leading companies know how to carry their vision through to conclusion and deliver great CX that gets noticed.

    Using Customer Data Effectively


    We also saw a wide gap between leading organizations and their competitors in customer data management—from the technology that collects to how they communicate and act upon it.

    It all begins with having customer data to feed the CX cycle, but 65% of bottom respondents feel availability and quality of data are their top barriers in delivering modern CX. And our top respondents? They say neither availability nor quality of data is a barrier.

    That confidence in the data widens the maturity gap even further.

    As for using the data, we also saw a 41% difference between top and bottom respondents around effectively using customer data. At the same time, there is a 42% difference in successfully enabling access to customer data for employees, suppliers, and partners.

    It sounds simple, but the better that customer data can be used to improve the customer experience, the more data customers will want to share. The more data customers share, the better the CX that can be provided. And the better the CX, the better the business outcomes.

    Where Do You Go Next?


    Concentrix has developed an Automotive Maturity Assessment to help OEMs and dealers understand how they stack up to the industry compared to their peers.

    At Concentrix, we have 40 years of experience working with automotive companies to exceed CX expectations throughout the entire customer lifecycle. We’re there from performance marketing through sales, to the support of connected vehicles, and the management of recall and compliance. We work with OEMs, dealers, individual clients, and commercial fleets.

    We have worked with many of the top respondents in our survey to help design their CX vision and strategy. We build the infrastructure and then run their programs to enable CX success. Those shared learnings are what make us so successful, and we look forward to evolving alongside them in this new landscape.

    We’ve talked a lot about top and bottom respondents, but those who fall into the middle of the pack have opportunities as well. They have demonstrated their desire to achieve leading CX. They understand their strengths and weaknesses. They may just need a different point of view to help them overcome key hurdles. Those that are at the bottom are doing some things well, but need to continue on their path to maturity.

    As we help our clients design, build, and run the future of CX, a key part of the technology roadmap is a partner that can enable success across the business. That’s why we are a design partner with Salesforce Automotive Cloud™.

    As Vicki Poponi (VP, Automotive Industry Advisor, Salesforce) shares in the video below:

    "The OEMs and the dealers have to build a better communication piece and have to be willing to share data more, that’s where the Auto Cloud and technology can help."


    Combining the power of Concentrix expertise and Salesforce Automotive Cloud will help you deliver a leading customer experience.

    With a journey this important, there’s no reason to wait.

    About Concentrix

    Concentrix (Nasdaq: CNXC) is a leading global provider of CX solutions and technology. We reimagine everything CX to improve business performance for some of the world’s best brands. We’ll help you define the roadmap to achieve your CX vision and evolve it for the long-haul. Contact us today to see how we can design, build, and run your entire CX world: www.concentrix.com.

    About Salesforce

    Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

    comcentrix


    i "Connected car fleet by region 2021-2035," Statista, September 28, 2022. https://www.statista.com/statistics/1155517/global-connected-car-fleet-by-market/

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        • Ally All Ears Podcast | How F&I is driving dealership profits
        • Ally All Ears Podcast | building customer loyalty during challenging times
        • Ally All Ears Podcast | reducing friction in the purchase process
        • Ally: All Ears Podcast | Building trust to attract and retain customers
        • Ally: All Ears Podcast | Staying competitive with vehicle acquisition
        • Ally: All Ears Podcast | Used Car Bubble
        • Ally: All Ears Podcast | practices you may incorporate into your F&I department
        • Amazon Ads: Marketing tips for electric cars and alternative-fuel auto advertisers
        • Big Ass Fans: Reducing risk and productivity loss with Big Ass Fans & evaporative coolers
        • CDK Global: Shoppers make clear the service features they want
        • Capgemini: Unlocking the next turn in the mobility roadmap
        • Capital One Auto: Auto dealers are here to stay. Here’s the next step in their evolution
        • Champ: The history of titling and the cost of human error
        • Concentrix: How can customer data drive a better automotive CX?
        • Cox: Automation and the future of automotive retail
        • Cox: Transformation toward eCommerce in automotive retailing
        • Cox: Transforming F&I for Automotive eCommerce
        • Deloitte: ACCELERATING DIVERSITY, EQUITY AND INCLUSION
        • Easycare: Reinventing the service contract for EVs
        • Easycare: The importance of benchmarking your reinsurance performance
        • Effectv: Why “Customer Lifetime Value” Should Be the Auto Advertising Buzz Word for 2023
        • Experian, GroundfTruth and Spectrum Reach: Dealership marketing: Navigating automotive advertising in a post-pandemic world
        • Experian: Evolving identity beyond the “who” to enable the “how”
        • Experian: Three steps to adapting to constant change in automotive marketing
        • Haig Partners: Buy-Sell Q&A: Where the Automotive M&A Market is heading
        • Haig: Buy-Sell Q&A | Advisors add value to sales process
        • Haig: Buy-Sell Q&A | Navigating partial dealership sales
        • Haig: Buy-Sell Q&A | growth drives value
        • Haig: Buy-Sell Q&A: Future-proofing your dealership
        • Haig: Buy-Sell Q&A: What is the value of an M&A advisor?
        • JM&A Group, Easycare, Assurant: Unlocking new opportunities in F&I with digital retailing
        • Kerrigan Advisors: Interview with Baxter Auto Group
        • Kerrigan Advisors: Interview with Hitchcock Automotive
        • NEXTEER AUTOMOTIVE AND ETAS INC: Software-defined vehicles will transform auto industry
        • OEC: How to understand what customers are saying when they’re not saying it
        • PACE: Electrification Technology: Once the supply chain gets over the shock, EVs offer opportunities
        • Pace Program Navigating advanced driver-assistance systems
        • Phone Ninjas: 5 Reasons you need to use phone scripts for your dealership
        • REYNOLDS & REYNOLDS: Creating great retail customer experiences
        • REYNOLDS AND REYNOLDS: Are you ready for the FTC Safeguard Rule changes? Take this quiz to find out
        • Rey and Rey: Automation and the future of automotive retail
        • Routeone: The benefits of robust dealership reporting tools
        • Siemens: The impact of vehicle electrification and connectivity on electrical system design
        • Spectrum Reach: Playing to win: How automotive dealers can capitalize on sports marketing
        • Swiss Re: Insurers and car manufacturers: how to unlock the potential of true collaboration
        • Text2Drive: Digital retailing meets the service department
        • Trimble: The future of autonomous vehicles speeds ahead
        • Truist: Capitalize on the changing structure of auto retailing
        • Truist: Prepare now for the next era of automotive retailing
        • Urban Science: Promoting dealer-consumer alignment across continued industry evolution
        • Walbridge: Video | Walbridge Chairman on how automotive companies are navigating the electrification boom
        • Western Digital: To Meet Consumer Demand, Automakers Must Double Down on Agile Development
        • Wipro: How to address safety and security for software-defined vehicles
        • Wipro: How today’s tech decisions drive tomorrow’s sales
        • Wipro: Software Helps Address the Affordability Challenge
        • Wipro: The Promise of Software-Defined Vehicles and the Cloud Car Ecosystem
        • Wipro: Video | Wipro CTO on how OEM's are leveraging software-defined vehicle technology
        • Notarize: What to expect for the future of auto sales
        • Seagate: Unlocking value from connected-car data
        • Amazon Web Services: AI-powered supply chain decision-making
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