At the same time, customers’ buying behavior and mobility preferences are also changing. The modern customer is digital savvy and well-informed about the product even before visiting a dealership. In fact, by 2023, over 70% of car sales will be digital, according to data by market research firm Frost and Sullivan. Data from multinational firm CDK Global shows that 90% of customers prefer to buy from dealers who offer a fully online sales process. Innovative, customer-friendly business models are also continually evolving. There is expected to be a 30% rise in revenue from new business models such as car sharing, e-hailing, and data services.
The Auto Retail Accelerator from Tata Consultancy Services (TCS) is a cohesive set of offerings that elevates the auto retail customer experience through business-driven technological transformation. It allows OEMs to deliver contextual, personalized, and truly business-to-consumer (B2C)-like experiences across channels and increases share of wallet beyond the point of sales and across the customer life cycle.
The connected customer is driving the buying process and seeking OEMs who can offer a more integrated phygital experience. Similar to other B2C businesses, automotive companies and dealerships also need to make a transition towards an integrated, omnichannel retail experience. Moreover, by moving beyond mere touchpoint engagement towards life cycle engagement, OEMs can grow mindshare and share of wallet, and consequently improve profitability.
TCS’ Auto Retail Accelerator focuses on customer-centricity to ensure a differentiated and unified experience throughout the car ownership process. It comprises a set of customer experience transformation offerings, including front-end and back-end technology modernization.
The Auto Retail Accelerator realigns customer experience strategies to meet future retail challenges. By bringing the dealership to the customer doorstep at various stages of ownership, the solution enables seamless, omnichannel experiences. It also enhances digital connectedness by empowering the customer with end-to-end self-service capabilities and orchestrates the partner ecosystem to render services across the ownership cycle. With its rich library of assets, which can be customized for multiple scenarios, Auto Retail Accelerator creates radical customer experience transformation for OEMs.
CX envisioning: Design thinking principles and design-led transformation support context-driven CX envisioning. This includes auditing the experience, capturing aspirations, and formulating the creative brief, which depicts the brand’s vision and strategy. OEMs can simulate the customer experience through a series of hero journeys built from a pre-selected set of use cases.
Technology assessment and recommendation: Analysis of the as-is state of systems, applications, and supporting business processes along with recommendations modernize or fix the digital core.
Virtual buying experience: Virtualization delivers a more immersive buying experience along with the preferred car configuration.
Modernization/reimplementation: Modernization or reimplementation of legacy back-end systems, including systems of records (SOR) such as customer relationship management and dealer management systems, support large-scale transformation.
OEM-led interactive or digital marketing services: Marketing technologies and digital content lay the foundation for interactive marketing services across channels, touchpoints, and geographies.
New business model launch: Faster launch of new business models such as subscription-based ownership and the used car marketplace address the need for flexible car ownership.
Connected services: Integration with connected vehicle features and leveraging the network of ecosystem players and data analytics enhance the customer experience across the ownership journey.
The TCS advantage
Neural Manufacturing™: The framework allows manufacturers to orchestrate connected, cognitive, and collaborative ecosystems, helping them become more agile and responsive to change.
Deep domain and industry experiences: TCS has vast experience in handling projects across auto and adjacent industries and has developed best practices from large-scale transformation projects.
One-stop window for CX: TCS brings together business advisory, creative design, and technology capabilities to create and implement transformational customer experience programs.
Location Independent Agile™ and Secure Borderless Workspaces™: SBWS and the agile methodology help teams across different locations collaborate without disruptions, thereby ensuring seamless customer experience.