As the auto industry grapples with significant challenges – from low inventory to rising prices – the need to attract and retain customers has never been more critical. This shift in dynamics brings to the fore a potent tool for dealerships to not just survive but thrive: Geo-intelligence.
By Michael Simpson | TrueSpot Automotive | June 2, 2023
Introduction:
As the auto industry grapples with significant challenges – from low inventory to rising prices – the need to attract and retain customers has never been more critical. This shift in dynamics brings to the fore a potent tool for dealerships to not just survive but thrive: Geo-intelligence.
Geo-intelligence, powered by Real-Time Location Systems (RTLS), offers an exciting way for auto dealerships to enhance their customer experience, cultivate loyalty, and ultimately, drive sales. Here’s how it works.
Time savings in finding assets:
One of the most immediate benefits of RTLS is the time saved in locating assets. Walk through any hospital today and ask a nurse, assistant, or a member of the BioMed team and ask them if they lose time every day, every shift, looking for equipment. The answer I have received every time I have asked that question is a resounding yes. One BioMed team member at a hospital stated he had been looking for a single piece of equipment for six months. One day, the item just showed up in the BioMed department. He had no idea where it had been; he just knew for six months that he had not been able to find it. Imagine how much time he spent looking for that one item and then add up all of the additional time he spent looking for other equipment during those six months.
The standard rule is that nurses spend 5 minutes per hour or one hour per 12-hour shift looking for items. There are no conclusive studies to support this, but in limited conversations with hospital staff, the number is incorrect. Not that the time spent is too high, but it is not enough. There are too many moving pieces of equipment in a hospital, and finding equipment not in use or repair takes time. The result of this inability to find the proper equipment has caused staff to say there is not enough and we need to order more, which is expensive. Hospitals do not need to invest in more more equipment, but better tools to assist their teams to find the equipment that is there, but not always easy to find.
Track, Locate, and Present: A Seamless Customer Journey
Imagine this: A customer walks into your dealership looking for a specific model, which, you know, is located somewhere on your vast lot. Instead of wandering aimlessly or waiting while your team scours the lot, you quickly locate the exact location of the vehicle using RTLS. But it doesn’t stop there. The location of the vehicle’s keys is also tracked, cutting down the time spent on searching for the right key for a test drive or final sale.
With RTLS, you can track and manage the exact location of every vehicle and their corresponding keys in your inventory in real-time. This seamless tracking not only streamlines operations but also reduces the time a customer must wait to view or test-drive a car, offering a significant advantage in an industry where customer patience can be in short supply and the danger of customers leaving the lot increases the longer, they must wait.
Streamlining Fixed Ops/Service with RTLS
Geo-intelligence extends its benefits into the service realm of a dealership as well. RTLS improves service efficiency from check-in to vehicle hand-off. With RTLS, advisors have real-time visibility on where the customer’s vehicle is in the service process – whether it’s in diagnostics, repair, or at the wash. This level of detail allows service advisors to proactively reach out to customers with updates, enhancing customer satisfaction and trust.
Moreover, this transparency and predictability in the service process can drastically improve the overall customer experience. A positive service experience is instrumental in creating loyal customers who return to your dealership for their future needs, ultimately resulting in a “customer for life.”
Personalized Interactions and Services
Beyond logistics, geo-intelligence can also play a significant role in personalizing customer interactions. Through location data analysis, dealerships can understand their customers better – from their preferences to their on-lot behavior. For example, if a customer spends more time around SUVs, the sales representative can tailor their sales pitch towards SUV models, thereby increasing the likelihood of a successful sale.
Proactive Post-Sale Service
Further, geo-intelligence can enhance post-sale service, a key aspect of customer retention. By tracking the location and usage of the sold vehicles, dealerships can offer proactive service reminders and maintenance updates to customers based on actual usage rather than arbitrary timeframes. This proactive approach can significantly improve customer satisfaction and loyalty in the long run.
Bridging the Gap with Geo-intelligence
In these challenging times for auto dealerships, the smart use of technology can create a competitive edge. RTLS and geo-intelligence offer just that, serving as powerful tools to enhance customer experience and foster customer loyalty. By utilizing these innovative solutions, dealerships can ensure that even when inventory is low and prices are high, their customer service remains top-notch, attracting customers and cultivating loyalty.
By integrating RTLS into their operations, dealerships can provide prompt and efficient service, reducing wait times and increasing customer satisfaction. In an era where time is of the essence and every customer interaction counts, geo-intelligence, powered by RTLS, offers a clear path to success for the future-forward auto dealership.
The future of automotive dealerships is here, beckoning us to embrace the possibilities and opportunities that geo-intelligence presents. The utilization of RTLS and geo-intelligence are not just optional extras, but essential components of the modern, customer-focused auto dealership. With this technology, dealerships can exceed customer expectations, streamline their operations, and gain a significant competitive edge. The transformation to a smarter, more efficient, and customer-centric dealership begins with RTLS. Are you ready to take the step? The future awaits.
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