Leveraging Data To Stand Out In The Automotive Industry
Recent years bear witness to the way digitization has swept over industries and completely transformed the business approach to consumer targeting, sales, marketing, and customer experience. The automotive industry is no exception.
There are massive amounts of customer data at the disposal of automobile manufacturers and car dealerships. We also have the tools required to analyze that data and use it to redefine the way we interact with our customers.
Activating Customer Data To Create Value
Car dealerships looking to stand out from the crowd must do so by creating value for every customer at every stage of their journey. However, every customer is different and must be approached, serviced differently.
This is where customer data enters the picture. Because digitalization is shifting the automotive industry from the traditional sales model to one where personalized experiences and e-commerce play increasingly important roles, customer data gives dealerships the information they need to customize the buyer's journey, both on and offline.
Collecting customer data at each touch-point allows us to build a 360-degree view of our customers and create a personalized experience from sales to service. In fact, using data insights to structure a customized buyer journey is what fueled Al Masaood Automobiles to launch the Middle East’s first e-commerce platform for automotive sales and service.
I cannot stress enough the importance of getting to know your customers better. The modern car buyer is more informed and spoiled for choices, and the only way to make sure your customers stick with you in the long-term is to show them that you genuinely understand and care about their needs and challenges.
Once you use customer data to develop a deeper understanding of your ideal buyer profiles, you can employ predictive data analytics to create and implement marketing and sales strategies that reflect your care for your buyers.
Our understanding of customer challenges at Al Masaood Automobiles is what led us to ideate and provide our customers with an interactive virtual showroom experience in the comfort of their homes. Data is the key to addressing customer needs and creating value as a result.
A Data-Driven Dealership
In order to personalize the customer journey and also make it seamless, quick, and efficient, business operations and decisions across all levels of the dealership have to be data-driven. Data analytics can be used to pinpoint weaknesses along a supply chain, giving dealers the chance to take preventative measures on the spot, develop contingencies, and minimize risk of supply chain disruptions tainting a customer’s experience.
Data is also an asset when it comes to forecasting market demand, allowing for preemptive reevaluation of production, sales, and marketing strategies. Dealerships that are armed with data develop higher existential flexibility because they are equipped to foresee industry shifts and adapt accordingly. The rise of e-commerce platforms as the go-to for many car buyers, for example, has been a major shift in the automotive industry over the past years.
To adapt, many dealers have leveraged customer data at their disposal to identify consumers’ preferred physical and digital sales channels and optimize their sales and marketing efforts accordingly. It was in fact Al Masaood Automobile’s data-centric strategy in our ‘Project Falcon’ that compelled us to adopt an omni-channel sales approach, where we stand prepared to service different customers at the acquisition points of their preference, without any delays or disruptions caused by a fault in back-end operations.
The world was already changing faster than most businesses could keep up before the current pandemic stormed in, forcing businesses to either innovate or be left behind. As I see it, the only way to deliver a consistently unmatched customer experience, one that leads to a loyal customer base, and keep ahead of the competition is to embrace digitalization, make smart use of the troves of data available, and deliver a seamless and personalized customer experience to every single person that comes through the doors or visits online.
About the author
Irfan Tansel: Global Citizen and CEO of Al Masaood Automobiles
With over 40 years of experience spanning across three continents, Irfan Tansel is recognized as ‘100 inspiring leaders in the Middle East’ by Arabian Business magazine and ‘CEO of the Year’ by CEO Magazine, and he is driven to disrupt the automotive industry and to create a legacy.
Irfan’s passion for automobiles began at the age of 15 when he apprenticed as an auto mechanic. Now an entrepreneurial and visionary leader, Irfan is credited for his unique approach to innovation, employee engagement, and more recently, succeeding in a challenging market. In 2019 and 2020, Al Masaood Automobiles gained global recognition for re-strategizing; creating an omnichannel experience to prepare for Industry 4.0. Al Masaood Automobiles launched the region’s first e-commerce car buying website with Nissan, and a virtual, live & interactive sales platform. 2019 was a record-breaking year with Al Masaood Automobiles selling more cars than ever before.
Under Irfan’s leadership, Al Masaood Automobiles have been awarded numerous accolades. In both 2013 and 2019, Al Masaood Automobiles won the coveted Nissan Global Award, recognizing their outstanding performance and contribution to Nissan’s business.
Renault’s prestigious Global Partners Award (P.A.R.I.S. Challenge), received in 2020, is the highest accolade for car dealerships granted for exceptional performance in customer satisfaction, and in Sales and Aftersales – tapping into new market segments, strengthening the brand, and expanding their portfolio. They reported a staggering double digit sales growth, outperforming other Renault dealers around the globe.
With an unrelenting desire to best serve his customers, Irfan believes that “the road to recognition is built upon a commitment to leave behind the ordinary to achieve the extraordinary”. His competitive nature drives his vision to revolutionise the industry and lead the transition into a future where disruption capitalizes innovation. After achieving his goals and reaching the peak of his career, he is determined to motivate tomorrow’s leaders by sharing his extensive knowledge in leadership.
When Irfan isn’t preparing for a future of disruption, as electric cars, connectivity, autonomous vehicles and ride-sharing come into play, you can find him spending time with his family and playing golf.
For media and keynote inquiries, please email his brand manager Jen at Jen@prestidgegroup.com or call +971 55 719 3601. DOWNLOAD IRFAN’S MEDIA KIT.
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