The automotive industry is going through what is arguably the greatest period of transformation since it was formed at the end of the 19th century, with the evolution towards electric vehicles (EV), autonomous vehicles (AVs) and mobility-as-a-service (MaaS). To survive in the new environment, original equipment manufacturers (OEMs) have to act now to make sure they put the customer at the heart of everything they do.
Our experts have pulled together four key strategies that OEMs can implement to adapt to digitalisation and deliver an outstanding customer experience that builds loyalty and creates value for the consumer. These are:
- Turning data into value – The potential global revenues from monetising car data could reach $450bn-$750bn by 2030 (McKinsey 2016)
- Optimising the purchase journey – The future of car sales is online. OEMs need to provide a seamless digital experience from initial research through to aftersales
- Building partnerships and collaborating – The OEMs with the strongest partner network will be best positioned to lead the race
- Creating loyalty by providing next-generation customer service – Companies will win or lose based on the level of customer experience they can provide
The paper also includes a case study from the Department for Transport (DfT), outlining how the department implemented shared services to deliver cost savings, improve services for the public, and achieve true business transformation.