Antonio AntonaciHead of MyPrice Product Strategy, Air-Connected Mobilityreflects on the digital transformation applied to automotive sector.
The digital transformation has now revolutionized the work of all sectors from tourism to banking, up to health care and public administration. Therefore, the automotive world could not remain on the sidelines for long. The radical change triggered by digitalisation and especially from the availability of data has a profound impact that goes far beyond the introduction of eCommerce, but encompasses i business and distribution models which in the automotive market, which is going through a period of deep crisis, can be a regenerating tonic.
A complex market scenario
On the one hand the sudden alternation between scarcity and availability of stocksof spare parts, the energy crisisthe pandemicthe drive towards electrification and the emergence ofeCommerce as a preferential purchasing method: these are just some of the trends taking place in the automotive sector which are putting pressure on all the players in this market and above all on the dealer. In fact, the dealer finds himself at an epochal crossroads between the now inadequate business models of the past and the need to seize the hidden opportunities in this period of crisis.
The role of data in the evolution of the dealership
There is no shortage of growth opportunities for dealers and technology offers interesting ideas for those who choose to innovate. Combined data and information sources such as i Big Data e l’IoT or the anonymised mobility data collected by sensors on vehicles they offer unlimited intelligence to automotive dealers capable of exploiting it. The structured realities have already equipped themselves with ad hoc internally developed solutions, but thanks to external inputs and stimuli based on AI and Machine Learning, even more complex business objectives can be achieved such as increasing liquidity and earnings from remarketing, achieved by enabling specialized operators to make informed and timely decisions.
Evolving tools and professional-technology combination
The tools in use today are typically quite standardized and focused on specific functions such as the CRM where it finances. Usually these data do not communicate with each other and the in-house platforms do not adequately exploit the growing amount of data available from the outside world. The operator, who often operates within a much greater digital range than that manned in the area, could, for example, make much more accurate price estimates thanks to additional information, derived from external platforms and data.
Within remarketing in particular, innovations based on the winning combination of professional and technology are available. Together with its partners in recent years Air-Connected Mobility has begun to develop the concept of a new evolving approach to remarketing, based on the combination of professional and technology. In fact, the role of the professional remains central even when supported by technology. In fact, technology is a tool to support – never replace – internal expertise, confirming that digital tools integrate and strengthen internal skills, enhancing the work of specialists.
For years, in other more digitized sectors such as travel, insurance or retail, platforms have been developed that bring together information in a single place where it can be analyzed and correlated, offering an overview. Digitization and automation of processes they are essential to help the dealer look beyond the classic metrics, save time, facilitate and speed up the entire decision-making process.
Technology as an enabler of efficiency throughout the remarketing cycle
In addition to support for vehicle pricing, the dealership of the future requires an enabling tool throughout the remarketing cycle, from stock acquisition to positioning. Faced with a constant increase in the value of used vehicles and price lists, in fact, technology can help the dealer to adopt a strategic approach. Thanks to digital support it is possible to make targeted tactical choices such as which publications on verticals to optimize, where to find the product on multiple channels e how to rate the product in the short term by balancing rotation, attractiveness, margins and positioning. Publishing on verticals is in fact an increasingly decisive success factor, but the situation due to supply difficulties and delays in deliveries with related increases, undermines the relevance on verticals and has limited supply channels.
Speed and accuracy thanks to data
Thanks to technology it is now possible analyze hundreds of sources quickly, to evaluate the out-ins to understand the rotation of the product according to the market and determine in a few seconds how attractive the product could be on the basis of the sold and offered on the market. Geographical aspects relating to the national, regional and provincial market become easy to understand. The data is therefore purged of duplicate ads linked to promos, eliminating the statistical queues linked to promotions and optimizing the real price according to the company strategy. The possibility of uploading and evaluating the trend of the stock in real time offers further ideas.
By rapidly analyzing a rich set of market indicators such as supply, demand, liquidity, absorption, stock etc., dealers can finally experience aoperational efficiency at 360°.