Automotive Business of the Future - How to Optimize the Digital Purchase Journey
For many years the trend has been that the purchase journey is moving online. In the past, decisions were made at the dealership over multiple visits. Increasingly, new vehicle decisions are being made online with as little as one or two dealership visits to confirm and finalize option choices.
The wealth of media created by brands, dealerships and independent influencers continues to increase. Customers are increasingly comfortable with online advice and decision making. Brands are responding by investing heavily in the online sales journey. To get the maximum return from this significant investment, the purchase journey must be well understood. From this base of understanding, brands can optimize campaigns and content, integrate online and offline portions of the journey, and guide customers in real time to improve conversion ratios.
In order to optimize the digital purchase journey, a new, connected model is needed to compete in today’s digital economy: A digital fabric that connects data from disparate processes, to create a complete and accurate picture across the entire enterprise. All data from customer interactions must be captured and integrated to form a digital thread that follows individual vehicle purchase journeys – both online
and in the dealership. Once journeys are understood and content optimized, customers can be guided down the path that increases the probability of a final sale.
Many are looking to machine learning and AI as the silver bullet to build and retain competitive advantage. But the truth is that automotive businesses must first create the right context and data environment for these technologies to deliver the intended business value.
In this brochure, we give you ideas on how to utilize data in sales to win the race for the car of the future.