Dealer management system has long been the buzz word in automotive industry. Why has it gained so much importance? Does it really spell benefits to OEMs and dealers as well as customers in the automotive industry? Is it really a game-changer? Has it brought revolution in the industry? Well, with the growing adoption of this innovative system, it is clear that DMS offers manifold benefits and has a brought paradigm shift in the industry. Below are some key changes that have affected the automotive industry:
• Digital technologies evolving at a faster pace contributing to transformation in buying pattern across automobile industries
• Increasingly incessant and dynamic customer journeys
• Increased customer focus on quality service and on-time warranty
• Intensifying competition in the automotive industry
• Smart gadgets grabbing attention towards ease and convenience
• Impact of technology to bring revolution in the conventional 'engagement funnels'
What do the all above mentioned points spell?
Indeed they pinpoint to the need to discover and move all the way through rethinking implications for dealers and OEMs. Understanding changing customer expectations and needs, shopping patterns has made it necessary to explore ways to manage dealerships in an efficient way so as to provide customers with seamless experience and engage them effectively through the sales process.
Purchasing any automobile is no longer a linear, unidirectional process in today’s digital era. The automotive landscape is witnessing a change in its focus from a product-driven to customer-centric approach. OEMs need to adopt innovative business models to keep customer loyalty and meet customer expectations. Proliferation of the Big Data, Social Media and Mobility has armed today’s customers with higher connectivity and handy information sources. Due to this, OEMs are imposed to work out innovative tactics for enhancing the buying experience and building customer relationships. With an exceptional inventory management, service management, procurement management and CRM platform, the dealer management system has proved to be a game changer here. Dealer management systems help to create seamless systems, which further drive persistent engagement with customers at every level, from selling vehicles to parts and service transactions to building brand awareness.
Numerous OEMs have embraced channels that help build high-end digital sales and marketing functionalities. Dealer management system has helped to offer the borderless online marketplace. OEMs which clearly understood these changing trends are gaining the benefits. Manufacturers in the automotive industry who have accepted new ways to manage dealerships are maximizing the benefits. They have succeeded in engaging prospective buyers through various channels by reinventing their sales and marketing. Unleashing the power of DMS has helped automotive OEMs and dealers in the development of powerful multichannel strategies.
From creating seamless systems to driving continuous engagement with customers at every phase and from selling vehicles/spares/ services to building brand awareness and loyalty, dealer management systems are proving to be a key differentiator.
Clearly, DMS has brought a shift in the industry and helped in reaping the true potential of sales and marketing channels and techniques.