Expanded, ubiquitous connectivity requires dynamic strategies and readiness from automakers to deliver new digital features and services, at a fast pace. The competition for customers’ preference and loyalty is fierce.
Connectivity also brings new opportunities for OEMs to differentiate themselves from other automakers, by creating a unique and high-quality customer experience throughout the vehicle lifecycle.
Based on the findings of our survey, combined with our extensive experience with data and analytics, LexisNexis Risk Solutions prepared a set of recommendations to help automakers fully embrace connectivity, effectively maximize connected services subscriptions, and improve the overall customer experience.
Educate your customers about your connected services program and the benefits of participating. There are opportunities to do that right from the beginning of the process when customers start shopping online. Do not forget to reach out to and engage used car owners as well. Reach out to customers who were not offered a connected services free trial at the dealership and engage them to try one. In order to make the process more seamless, automakers should consider incorporating a prefill solution within their current online worklfows to populate web-based forms with more accurate consumer information. Incorporating a prefill solution helps reduce errors or information manually entered, avoiding friction later in the enrollment process and minimizing service activation abandonment.
Encourage dealers to more consistently offer free connected services trials and to discuss the benefits of connectivity with customers. Currently, only about two in five car buyers recall being offered a free trial. Enrollment rates are high among those offered a free trial, and consumers who engage in a free trial are much more likely to become paid subscribers, compared to consumers enrolling on their own.
Limit the risk of fraud, for both you and your customers, by employing identity authentication tools to check whether the person and the information you are receiving are real. Identity verification and authentication tools let you quickly and safely onboard new customers giving them continual, seamless access to their personalized services. As the value of your services and the number of ways you interact with your customers increase, the risk of fraud increases, too.
Keep up-to-date records of subsequent owners. Used car owners want to receive communications from their automaker regarding several key pieces of information. In fact, the majority expect OEMs to keep them informed about safety recalls and warranty coverage. Automakers can enhance their customer engagement strategy by monitoring vehicle ownership data on a regular, reoccurring basis so they can stay connected with subsequent vehicle owners.
Locate and reach out to used car owners eligible for free trials. Offer them the opportunity to activate a free connected services trial so they can engage with your brand, and you can establish an ongoing relationship.
Give your customers an opportunity to reduce the cost of vehicle ownership by engaging with a well-managed telematics exchange to help consumers take advantage of their driving behavior data for potential insurance discounts and other applicable use cases. Considerable opportunity exists in terms of consumer receptivity to insurance and driving data-related features offered through connected vehicles.
Create more digital, personalized experiences that consumers have grown to expect and want. It’s very important to have a clear and complete view of the vehicle ownership lifecycle supported by accurate and comprehensive data assets.
Take a proactive approach in using and leveraging data and analytics. This will allow you to make the right decisions for your customers and your business, helping to set you apart from the competition, now and into the future.
Visit our website to learn how our Suite of Automotive Solutions can help you create valuable and extended customer relationships.
The Driver’s Mindset: Connectivity and Connectedness was a web-based survey conducted among recent U.S. car buyers. The sample was selected based on the following criteria:
A total of 2,045 interviews were completed November 18-30, 2021. The online panel sample was managed to ensure a representative sample of U.S. recent car buyers purchasing a model year 2017 or newer. Key demographics, including age, income, gender and geographic region, were monitored for those who responded to the survey (including those who qualified as well as those who did not) to ensure the characteristics of respondents matched U.S. Census demographic distributions.
David is a veteran of the automotive industry with a variety of experience in automotive sales, business development, sales, marketing, product and risk management. As a member of the Connected Car Team at LexisNexis Risk Solutions, David leads a group responsible for the strategy, development and management of automotive OEM solutions. His team collaborates regularly with automotive OEM clients helping to solve industry challenges around the ownership experience. Prior to joining LexisNexis Risk Solutions, David served for many years with Experian Automotive helping to develop its automotive vertical. He held advancing roles in sales and product management ultimately serving as Senior Vice President of Sales. Prior to that, David spent many years with Chrysler Corporation in various field and headquarters positions. David graduated from the University of Pittsburgh with a BA in Business Economics & Finance before going on to complete an MS in Management from Central Michigan University.
