After the drop in sales in 2021, the automotive industry has seen steady growth. As a result, the market is expected to accelerate sales in 2022. Some reports also suggest that the APAC region will be a key contributor to this growth. The new generation of luxury auto buyers are thrilled with the high-tech gadgets and advanced sales strategies that dealerships have adopted. They appreciate that buying a luxury car is now an experience rather than a monotonous task. What is unique about the current scenario is that car dealerships are now developing their own operational strategies that allow them to unlock the true potential of customer service.
Previously, while elite service was provided to buyers of luxury vehicles, the approach was one-size-fits-all. Dealerships and salespeople haven’t really got to know the customer before converting their sales. For a very long time, customers were happy with this approach because owning a luxury vehicle was quite a big deal in India. However, with increasing purchasing power and globalization, many more Indians can buy a car from a more refined international pedigree. This phenomenon has led to greater competition among dealers, given the increased demand and limited inventory. Every dealership aims to strengthen their relationship with their consumers in such a way that they will eventually become loyal customers. So, this game is now about the long-term selling proposition rather than making a single sale and earning an incentive. In the midst of all this, the question that arises is: how to get there? A tested solution for this is personalization.
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While it is understandable that unlike other product categories, customizing a luxury car is not such a simple ordeal. However, we can always include a differentiating aspect in welcoming customers. Digital marketing and social media tools have made this type of personalization very easy. Brands and dealerships can connect with their customers online by targeting them using digital marketing tools. This connection can be intensified on social media through direct communication and engagement. The more a consumer resonates with you and feels valued by you, the more trust they will have. Customers will surely appreciate simple acts like sending personalized birthday wishes, sending them a congratulatory gift, creating a viewing experience for them in a way they love, and having everything prepared for them before they go. enter the showroom.
Car dealerships must move with the times. Unfortunately, many showrooms are still stuck on traditional practices and have inhibitions about the rise of new-age technology. While sticking to conventional values is a virtue, it’s also essential to understand your client’s psyche and act accordingly. AR and VR solutions are no longer the future – they are the present. And the sooner we accept this fact, the friendlier we will be in this industry. But, again, it is crucial to emphasize that these technological solutions are not a one-size-fits-all strategy. An intimate understanding of customer behavior, preferences, and buying economics will primarily remain the product of human connection. We can, however, improve our propositions by using the right technologies to engage customers and make them feel valued. AR and VR are game changers. They have the potential to transform the way the user sees the vehicle you are trying to sell. It can take them to places they haven’t imagined and allow them to explore what driving the car would actually be like. The rule of thumb here is that the more they can experiment, the faster they can make decisions – which is a win-win for all.
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Today’s dealerships are more concerned with providing the best in class customer experience. Closing the loop, an essential aspect of this process is after-sales service. While your sales efforts on the first attempt may entice the customer to buy, what you do after you make the sale has the most value. For any successful business model, repeat customers are the bread and butter. Being available to answer any questions they may have, periodically checking in with the base to check in on all is well, and completing with holiday wishes in a personalized way adds to the experience.
The luxury car dealership model is such that it will constantly evolve. What separates long-time dealerships from new showrooms are relationships built on top-notch customer service. While everything around “how you make a sale” may change, the “how you make them feel” aspect will always win out. It is and always will be the ace in the game.
– Shared by: Mr. Ajay Yadav, CEO of AMP Motors