[Posted on 12 June 2013 by Car Research]
Automotive CRM software does more than just track a dealership’s customers. It also helps manufacturers by collecting valuable information concerning marketing trends, product performance and the overall popularity of its vehicles. Manufacturers rely on the data provided by dealerships when developing and designing new styles of automobiles They also use the information to improve existing products and enhance their durability.
Car dealer CRM software compiles data about a dealerships customer base. It includes everything from how often they service their vehicles to their purchase history. It details what type of vehicle they may have traded in as well as its condition and what type of vehicle was purchased to take its place. This shows manufacturers what types of purchases different people make and what conditions their financial conditions are.
Automotive CRM software has the ability to show manufacturers how well a product performs under varying conditions. If a person purchases a new vehicle off the lot and returns to that lot each time the vehicle needs servicing or repairs, the manufacturer can use that information to see how well the vehicle performs. This can help them determine which parts wear faster than others and which ones may need to be redesigned to be longer lasting. As long as the customer keeps returning, the manufacturer gets updated information that will continue to assist them in improving their vehicles.
Tracking customers’ buying habits also tells manufacturers what makes and models are the most popular in certain areas and with different groups of people. This helps them create effective marketing strategies and stay competitive with other automotive manufacturers. In the automotive market, having the competitive edge is beneficial if you plan on acquiring customers and keep them returning to you for all of their automotive needs. By using the information provided to them by their dealerships, the manufacturer and stay on top of current trends and determine when those trends begin to change.
Automotive CRM software also provides manufacturers valuable information about the financing options dealerships offer to their customers. Is it easier for them to get a loan for a new car or a used one? What types of trade ins do the customers usually bring in? What type of down payment is expected? Each of these questions offers insight as to what is needed to put a customer into a new car. Many manufacturers will offer incentives to dealers that can be passed down to the customers to make purchasing a vehicle more appealing. The manufacturer’s suggested retail price can be dramatically influenced by cash back rebates, down payment options and other discounts offered by the dealership. Software that tracks a customer’s relationship with the dealer can show what they have been eligible for in the past and can help create a deal that works for both parties.
Using Automotive CRM software helps manufacturers stay on track. It shows them where the strengths and weaknesses are in the vehicles they produce. It also gives them insight into the public’s view of their company.