Using Customer Data in the Auto Industry: Shifting Manufacturers Into Higher Gear

Using customer data in the auto industry has become the solution to the current state of chaos in the car-buying world. 

The only thing that rivals that new car smell is knowing that you made a good deal on said car. Finding ways to satisfy your customers so they keep coming back to you with their big purchases is essential to remaining relevant and acclaimed in the auto industry. 

The automotive industry is facing many challenges in this increasingly technological and post Covid world. Like many other industries, auto companies rely on data from all across the different channels of your business. Organizing and creating beneficial insights from data from multiple sources, such as a dealership, apps, websites, and calls, is not easy. A Customer Data Platform helps unify these data systems in order to have a single view of each customer, which also reviewed en masse can provide meaningful insights into where the industry is headed at large and help automakers plan for future growth. 

The vehicle search process can begin up to 18 months before the date of purchase, with 98% of site visitors being anonymous during this time. A CDP enables automakers to collect and unify this anonymous data and deliver a personalized journey at any touchpoint. You will gain the invaluable ability to customize their customer experience every step of the way and show them that not only are you listening to their wants and needs, but that your company truly cares about providing them with the best vehicle option. 

Recently, Tealium’s Strategic Advisor, Mike Greer, penned an article for Wards Auto on “Selling Your Next Car With Customer Data Platforms.” In the article he states:

“Using a CDP not only improves the customer experience but also saves dealers media dollars and cost per acquisition. The U.S. automotive market is projected to spend $17 billion on digital ads in 2022. Those media dollars include spending by OEMs and dealers whose campaigns often compete for the same buyer.

 

Automotive companies are historically risk-averse but with customers pledging loyalty to their wallets above all else, it will take a measured approach to continue moving buyers through the purchasing funnel, all while increasing their lifetime value and getting the most out of your marketing technology.”

In today’s hypercompetitive auto market, plagued by supply chain disruption and changes from the global pandemic, making sure you do not miss the boat (or car) on opportunities to make a sale is essential. This in turn makes real time activation and orchestration just as essential. A delay in your data is a delay in your sale and your money. Using a CDP to get the  right message and right content to your customers assures that not only your message is received, but that you are not wasting it on people who have no interest in hearing it. 

From our 2022 State of the CDP Report, two of the top three priorities respondents said became more important this past year were creating more personalized communication with customers and presenting an improved unified customer experience across channels. Using customer data in the auto industry allows automakers to do both of these things with ease. To get you started, we have put together a new eBook, Shifting Into Higher Gear With Customer Data. We share how using customer data in the auto industry is shifting the entire automotive landscape. We provide numerous use cases that demonstrate the immediate way an implementation of a CDP can boost profitability and engagement. One example of a use case specific to the auto industry is how integrating with a CDP allows buyers to see the locally available vehicle options that match their preferences, as well as realistic delivery times. Another example use case is on building loyalty through an engaging ownership experience, identifying the key moments in the customer’s ownership lifecycles in order to target them across channels to purchase or lease their next car.

Tealium can help you shape the market in these shifting times, and shift your company into higher gear to achieve all your business goals, driving progress both now and into the future. Click here to learn more about how Tealium helps global companies use customer data in the auto industry.