COVID-19 has affected every facet of our lives and automotive industry is no exception. Eventually, we must start again with innovative methodologies and preventive measures to bounce back.
Businesses, mostly Manufacturers, OEMs, Distributors or Dealers, all are suffering from huge decline in sales and profits in the form of operational expenses like employee compensation, infrastructure costs, maintenance costs, loan interests and so on.
However, this pandemic has also given us an opportunity to pause, think and retrospect about what we can do better. And one of the measures you should take is to invest in a customized smart business solution. Here are some key solutions which will help get business moving in the right direction again –
1. Ecommerce: With an Ecommerce platform or a website with sales enablement, dealers can highlight their products and features effectively. Using videos, virtual communicators and tools, customers and dealers can interact easily from the comfort and safety of their homes. This will help in reducing any physical interaction and at the same time, get things moving.
Because of COVID – 19, many forceful restrictions are applied on people all over the world. Strict lockdown and social distancing affecting not only businesses but individual life too. To overcome these sad situations, eCommerce is giving lots of business a big help to make life easier. Almost every business is now done through eCommerce like shopping for daily needs, financial transactions, buying and selling things and many more. Ecommerce is helping for all business sizes, starting from local kirana and vegetable vendor to large shopping websites are generating income no matter what the situation is. People are also keen to order online rather than going in person to buy anything. If you wish to buy a car or bike, you can directly visit various websites, shortlist on few options, book a test ride to your home, make finance calculations, buy instant insurance, selection of the ultimate vehicle and finally own it. All these processes can be done from home, within the safest environment. Same case with service industry, if you wish to service your vehicle, it can be done online. Starting from service booking, showing vehicle issues using online calls or video sharing, vehicle pick up, live tracking of actual servicing site, inspection, approval checks, delivery, insurance cover, payment and done! No need to go out of house. These are the best day to day examples for dealer and distributors for digital customer engagement.
2. B2B & B2C Web Apps: Use mobile apps to send reminders for service, balance payments, product inspections, installation and maintenance related instructions, product upgrades and other business functions. With the use of apps, customers can connect with dealers for any communication needed, be it raising a service request, submitting enquiries, order accessories, tracking of orders, service pick and drop, installations, test drive at home service, insurance upgrade or renewal or payment and much more. Like customers, even dealers and distributors can perform their functions using apps and stay updated on the latest transaction across the organization. Web apps are helping everyone with easy and safe transitions, 24×7 support, no location restrictions unless you have good internet connectivity, easy problem-solving methodologies (self-help/FAQ sections) and many more. If you wish to buy a vehicle, considering the tight market situation, web apps can help you understand which vehicle is suitable for your current budget, which finance option is the best applicable considering the fear of job market, your position and which vehicle is the best match for you to buy.
3. Artificial Intelligence: Using AI, dealers can perform a deep-dive analysis to better understand the demographics, psychology and buying behavior of customers well in advance so that sellers/salespersons can suggest the best suitable product to the customers. Use AI to quickly solve complex problems, for example, choice of a most Suitable car depending on multiple factors like age, status, budget, family size, values, usage, and so on. It’s a win-win situation for both the parties: Customers get the product of their choice and as a dealer you save on time and efforts!
System based intelligence can be benefited for dealer and distributor to qualify leads, priorities them and finally easily convert them to sales. This helps sales person to make conversion faster with less hassle. In this difficult pandemic environment, AI is also helping to improve morale of employees leading to overall enterprise growth. AI can play the vital part for sales to forecast, Automate, get Recommended by existing customers, Sentiment Analysis of the customer, Chatbots for call center, and many application based processes to get more business.
4. Cloud Services: Avail the ease of access to the entire business functionalities using the cloud platforms. All the data is stored at the dedicated space and can be accessible anytime, anywhere to reduce the capital cost of dealer for enabling services. In addition to data storage, safe and easy data accessibility, cloud also offers Infrastructure as a Service, Platform as a Service, Data Backup, Disaster Recovery, Platform for testing new projects, etc. Cloud enhances the ability of data collaboration globally. Cloud is the major helper in the current travel restrictions, where in businesses are still making progress by accessing and exchanging data over the globe, no matter where you are currently situated you can do business interactions and deploy projects using cloud services.
Cloud is not just a storage for your data! Here are 6 Best Cloud Storage Services To Use In 2020 and also you can get more idea about what is Cloud and how it is beneficial these days.
5. System Integration Service: Integration Service helps organizations to align all their business functions thereby achieving data consistency and flow. This also helps customers to communicate without even visiting the business location. For e.g. – For car loan approval, a customer can file a request from mobile device sitting at home, which will then be taken care of by the finance department at the dealership. The loan approval, documentation, and loan processing all the way till the delivery of the vehicle can be managed on-the-go by the customer and the dealer. Similarly, insurance applications can also be processed without even moving out of home.
Considering all these 5 solutions can make dealer and distributors life easier with making more business in intelligent and sophisticated way. These are just some of the approaches to get your sales back on the track. We at TRAYA offer all these services and much more to help your business bloom again! Why not check what all you can get from Traya? Connect with us now.