As we enter into the final quarter, it’s a great time to reflect on some of the changes we’ve seen this year, and how the automotive industry continues to evolve. Having hosted a number of successful Experience-First events this year, Keyloop gathered together with automotive industry leaders across the globe. I was lucky enough to moderate a panel of talented industry experts from all over the UK, at our most recent event in Birmingham.
Covering key themes including adaptability, customer experience and digital transformation, our event sessions shone a spotlight on some of the most important topics in automotive today.
With many industry professionals all in one space, we took the opportunity to share insights from some of the biggest names in automotive, giving our audience some unique perspectives and valuable knowledge on how to navigate change, and what to expect for the future.
With key themes including the rise of new entrants, EV adoption and education and how to enhance aftersales service, we thought we’d put the key panel takeaways in a handy blog.
Accelerating loyalty and profitability with aftersales
Businesses have had to adapt to changing consumer expectation over the past decade, and now expect more personalised, convenient, and speedy service. That means improving your aftersales services has become essential to drive customer satisfaction, loyalty and profitability. With fewer spare parts and a lack of in-house repair skills, dealerships must innovate now to retain aftersales customers for the future.
In recent years there has been a significant shift in consumer patience, with customers expecting faster service than ever before. That means there is a need for increased investment in technology that enables aftersales teams to deliver the best experience and keep customers coming back. Likewise, an investment in the right solutions is crucial. Streamlining aftersales workflows and communicating more efficiently with customers will soon become a non-negotiable as businesses strive to meet customer expectations. Personalised, convenient customer experiences can only happen when your systems integrate and talk to one another, allowing all your capabilities to connect and unlock real efficiencies for your aftersales team.
The panel also highlighted the significant impact of EV maintenance on aftersales, citing Norway’s shift towards body shop work. Likewise, real-life examples were shared from Tesla, whereby remote diagnostics and repairs could be used to further enhance customer satisfaction.
Addressing demand for digital technologies
Digital transformation is reshaping the automotive retail landscape. Today’s retailers must provide the experience that best represents the brand their customers are choosing.
Learning how to integrate digital initiatives across marketing, sales, and aftersales services could have a huge impact on your bottom line. The human element remains crucial, but the challenge lies in aligning online platforms with traditional dealership experiences to deliver a more seamless and satisfying customer journey.
To achieve the right balance between online and face-to-face interactions, automotive businesses must acknowledge the importance of innovation, breaking the mould of traditional dealership practices. Aspects such as the role of AI in personalising customer interactions will have a huge impact on what will become the norm, what we currently expect as standard will inevitably change the game for the entire industry.
The panellists also agreed on the need for a connected ecosystem where vehicle data is effectively used to enhance the customer experience for the duration of the buyer lifecycle.
Improving Customer Experience
Delivering an exceptional customer experience requires a blend of both digital and more traditional in-person approaches. As we hear more and more about AI and the impact it can have for the automotive sector, retailers will be looking to work with the best partners who can help them to embrace the power of AI in delivering exceptional journeys for their customers. Keyloop, for example now have applications through partnership agreements that enable AI to support personalised interactions throughout the early stages of the funnel, find and display relevant stock and even connect customers to live test drive bookings. Understanding and connecting multiple systems for a more seamless process could be a good place to start, for businesses looking to up their game in terms of their digital offering.
Where digital opens up huge opportunities to make better-informed decisions and fine-tune the customer journey, elements such as mystery shopping could also be embraced to better understand customer pain points and iron out any friction for your car buyer.
In today’s customer-centric, competitive climate, it’s essential that retailers simplify their processes and ensure customers feel valued throughout their journey.
Promoting Sustainable Mobility
Sustainability has also become a core focus for the automotive industry in recent years. Although the car-sharing market is projected to reach 21.7m users in Europe by 2029, there’s still some resistance from UK consumers. Our panellists debated whether consumers are ready to fully embrace shared mobility solutions like Zipcar, noting that cars often represent personal status. Another big hurdle for sustainable mobility right now is the accessibility of EV vehicles, with adequate charging infrastructure posing a particular barrier for mass e-mobility.
Looking ahead, panellists agreed that the future of sustainable mobility aligns with broader societal goals, emphasising the importance of continued investment in practices and technologies to meet evolving consumer demands and regulatory requirements. However, with stronger government incentives, better knowledge sharing about the benefits of EV when customers are choosing their next vehicle is an area we can absolutely improve for our retailers, total cost of ownership, taking the time to understand charging either at home or through the public network will improve the ability to choose the best car for customer’s particular lifestyle. With Chinese new entrants levelling the playing field with more affordable BEVs, promoting greener mobility will continue to be a top priority for today’s automotive businesses as they seek to move the sustainability needle.
Route-mapping the next era
Knowing what’s ahead for the automotive industry can sometimes feel like driving in the dark without headlights, but what we do know is that automotive is full of innovation, resilience, and the drive to move forward. Understanding the evolving landscape is crucial for businesses throughout the automotive ecosystem as the industry continues to witness rapid transformation.
Our panelists agreed that industry leaders must stay agile and innovative to navigate these changes effectively. By embracing new trends, leveraging digital technologies, prioritising customer experience, and promoting sustainability, automotive businesses will be set up for success in this rapidly evolving landscape.
On behalf of all the Keyloop team, we want to extend a huge thank you to Sarah Brettle, Nick King, Jason Cranswick and Cameron Wade for participating in our Experience-First panel session, special thanks to Guadelupe Riccombeni for the Keynote address.
