Why An Integrated MarTech Stack Is Imperative for Higher Conversion in the Automotive Industry

Most automotive industry experts else would agree that the world has experienced some degree of volatility over the past few years and continues to do so. Such times make it challenging for automotive companies to achieve the higher conversation rates necessary to sell stock and parts at a healthy rate, as some companies have needed to downsize and restructure to survive.   

With business revenue expected to decline at an annualised 3.2% through the end of 2022, down to $153.9 billion, there are also positive projections leading into 2027, as post-COVID recovery continues.   

However, issues with post-pandemic recovery efforts and the ongoing supply chain issues are not the only reasons automotive companies are not hitting conversion goals the way they want or need to.   

Primary Frustrations and Mistakes That Automotive Organisations Face   

Automotive leaders continually search for new ways to find and seize sales opportunities, but they find that they aren’t always able to represent their product or service effectively, whether using older technology or MarTech.  

The primary driver of these frustrations lies largely in working with a manual or legacy strategy or hybrid system where they might apply some elements of traditional marketing, sprinkling them with digital marketing solutions.   

All these factors can lead to disconnected data and siloes between sales and marketing, operations, customer service and finance departments, which impedes progress toward higher conversion rates.   

Everyone in the organisation must be on the same page to earn those coveted sales numbers to keep the business growing.   

In the Automotive industry, salespeople are tasked with a variety of roles across the sales cycle. Often with long lead times before delivery, they must ensure their customer remains happy, informed and confident that their investment is being managed up until the day they take delivery. Whether they’re selling cars, trucks, or even heavy machinery – their customer relationships are always their first priority.   

Often, this means addressing their frustrations, mistakes and wants.

Client frustrations and how a composable MarTech stack can address them   

1. Those tasked with sales feel frustrated that they’re losing sales opportunities because they can’t meet client expectations. Further, they don’t have access to the information they need during the sales process. Such essential information includes product availability or lead times. 
2. They feel that they’re wasting time on low-probability sales opportunities because they can’t properly segment or target their customers based on the customer requirements. Their conversations do not have enough facts-based context to be meaningful and helpful.  
3. They feel at a loss for information when they can’t represent their products or services properly because they only have access to disconnected data that doesn’t give them the information they need during the sales conversation when it counts most. 
   
   

The right MarTech stack and associated systems support can help automotive organisations improve sales forecasting accuracy and decrease IT downtime to ensure sales persons have the precise information they need available to relieve all these frustrations.   

Reasons why transformation activities are blocked across sales & service

1. No clear understanding from the CIO and technology executive about how to integrate siloed systems that can provide valuable and actionable insights for the sales team.
2. No ability to use MarTech for personalised marketing based on segments and customer requirements in the industry.
3. With automotive companies lagging behind leaders in their system composability, the belief is that it’s an industry problem, rather than a platform or integration problem.   
   

How to overcome these blockers  

With a composable MarTech stack, automotive organisations can leave their complex and siloed legacy systems behind, allowing for an improved adaptation to change by enhancing flexibility and agility. IT leaders can focus on enterprise-oriented matters, allowing for more adaptability to change.  

As siloes are broken down, IT can continue investing in technologies that facilitate information-sharing inside and outside the organisation for use by employees and customers, serving as the basis of new business capabilities.   

Finally, they can manage matters such as talent, processes, compliance and governance more easily and successfully.   

What sales & service leaders in the automotive industry need from their MarTech

• They want to be seen as an effective solution provider to their clients so they have a continuous high-value relationship with them that has cross-sell and up-sell opportunities.

Any time a salesperson delivers a superior experience, full of timely and accurate information, that customer is more likely to come back. This is especially important for businesses with fleets of vehicles or machinery for marketing functions such as lead nurturing, segmentation, online campaign delivery, reporting and analytics. The right MarTech solution also provides a better understanding of website visitor behaviour and the best and most effective conversion points.   

• They want to be sure that their supply chain meets the customer requirements, so they can properly communicate with customers against their expectations.  

Automotive industry customers might wonder: "How long until my purchase arrives, are there delays? If I order a different feature, will it be a shorter lead time?"

Setting customer expectations from the outset means happy customers throughout the sales cycle with no surprises. With actionable insights from a MarTech solution, automotive organisations can build websites that quickly and easily provide those answers for customers to avoid their confusion and frustration.   

• They want access to and to benefit from actionable information in the platform that gives them the insights they need to sell more. 

What stock or parts are available now versus what’s in the pipeline? What customers have purchased before and might need servicing, replacement or an upgrade. A solid MarTech solution allows automotive leaders to quickly pull up vital information, breaking down silos and facilitating a smooth exchange of information to ensure consistent stock upkeep to fulfil customer expectations.   

Our approach to integrating your MarTech Stack Leads to Higher Conversion Rates  

Become a driver of business impact, and increase your customer lifecycle value by transforming your customer experiences from manual to connected, intelligent, personalized, automated and outcome-driven.   

Reach out to our team today to learn more and book a same-page meeting.