{"id":4122,"date":"2021-05-24T19:42:22","date_gmt":"2021-05-24T14:12:22","guid":{"rendered":"https:\/\/www.autofacets.com\/insights\/?p=4122"},"modified":"2023-01-03T18:54:43","modified_gmt":"2023-01-03T13:24:43","slug":"how-can-auto-cmos-shift-technology-led-transformation-into-high-gear","status":"publish","type":"post","link":"https:\/\/www.autofacets.com\/insights\/how-can-auto-cmos-shift-technology-led-transformation-into-high-gear\/","title":{"rendered":"How can Auto CMOs Shift Technology-led Transformation into High Gear?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The rise of the digital era has entirely revolutionized the way in which customers research, purchase, consider and manage the upkeep of their vehicles; compelling sales and marketing to transform the way they conduct their operations. In addition, advancements in CASE (Connected, Autonomous, Shared, and Electric) vehicles are nudging the Automotive OEMs (Original Equipment Manufacturers) to transform their business models to keep up with the rapidly evolving business industry.\u00a0<\/span><\/p>\n<h4><b>Embrace 360 Degree Transformation, Go Fully Digital\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">About two out of three shoppers are more likely to purchase products completely online today, according to a Cox Automotive report (<\/span><a href=\"https:\/\/www.coxautoinc.com\/wp-content\/uploads\/2020\/05\/How-the-Rise-of-Digital-is-Changing-Consumer-and-Dealer-Experiences.May-2020.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Source<\/span><\/a><span style=\"font-weight: 400;\">), therefore, they are looking for valuable information that can help them in their decision-making process. OEMs, and their dealers, can go fully digital to connect with their customers effectively, and CMOs can utilize the digital technologies and data to reinvent the new-age sales, marketing, and service approach.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Understanding the growing demand for rich content experience and identifying the customer behavior, acknowledging the concerned areas, the CMOs can weave their business plans around the tipping points.\u00a0<\/span><\/p>\n<h4><b>Reinvent Customer Communication, Stay Digitally Connected\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">With digital interaction becoming the new normal, sales and marketing in the automotive industry need to change their business model now more than ever. Incorporating highly personalized, digital marketing and omnichannel sales models, CMOs can achieve brand awareness and dealer-mediated sales effectively. Some of the trends observed in the automotive marketing industry include the following.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Integration of end-to-end view of the consumer that serves as a single version of the truth across functions\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Shift and investment in platform technology that improves customer engagement across the broader organization<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Investment in customer experience through customer data platforms<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Some of the technologies CMOs in the automotive industry invest in are the Internet of Things, Robotic Process Automation, and Chatbots.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Getting the best of the technologies can help in a 360-degree digital plan that enables OEMs to anticipate the needs of their consumers and surpass their expectations.\u00a0<\/span><\/p>\n<h4><b>Strengthen Automotive Ecosystem, Choose Right ecosystem partners\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Today\u2019s customers are shifting towards digital platforms and demanding transparency every step of the way, and the changes brought by the COVID-19 pandemic have only accelerated this requirement. This requires a streamlined, automated, and data-driven process that extends the digital-centric personalized experience. OEMs can integrate with ecosystem partners to deliver a seamless omnichannel experience and extend mobility services.\u00a0<\/span><\/p>\n<h4><b>Develop Digital Plans that Align with Business Value\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">When it is widely accepted that customer data, CRM platforms, cloud computing, advanced analytics, and technologies such as machine learning are the keys to way forwards, at times the gathered data is not integrated into the sales and marketing solutions. Utilizing them to the best of their potential, OEMs can better understand the requirements of their customers and align their digital experiences, and then, offerings accordingly.\u00a0<\/span><\/p>\n<h4><b>Shifting Technology-led Transformation into High Gear\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">As we step into the new normal dynamic world, the digital transformation is only going to pick up its pace. For the Automotive industry to scale up, it is essential to embrace technology to enhance sales and marketing communication strategies. However, CMOs must ensure these technologies are flexible, easy to adapt, and scalable so that they can be utilized with the changing customer needs in the dynamic scenario.\u00a0<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Connect with customers through leading-edge digital marketing capabilities to connect with customers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Execute marketing and CRM capabilities across the sales funnel\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Invest in analytics skills to collect, analyze and act on data intelligence\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Expand technical skills to use new technology (e.g. artificial intelligence and robotic process automation)\u00a0<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">To know more about how we can empower your automotive business with technology and innovations, visit <\/span><a href=\"https:\/\/www.autofacets.com\/\"><span style=\"font-weight: 400;\">https:\/\/www.autofacets.com\/<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The rise of the digital era has entirely revolutionized the way in which customers research, purchase, consider and manage the upkeep of their vehicles; compelling sales and marketing to transform the way they conduct their operations. In addition, advancements in CASE (Connected, Autonomous, Shared, and Electric) vehicles are nudging the Automotive OEMs (Original Equipment Manufacturers)&nbsp;<\/p>\n<p><a class=\"btn btn-style\" href=\"https:\/\/www.autofacets.com\/insights\/how-can-auto-cmos-shift-technology-led-transformation-into-high-gear\/\">Continue Reading<\/a><\/p>\n","protected":false},"author":3,"featured_media":4326,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[133],"tags":[155,213,214,215],"class_list":["post-4122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-autofacets-insight","tag-automotive","tag-cmo","tag-technology","tag-transformation"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/posts\/4122"}],"collection":[{"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/comments?post=4122"}],"version-history":[{"count":10,"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/posts\/4122\/revisions"}],"predecessor-version":[{"id":4145,"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/posts\/4122\/revisions\/4145"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/media\/4326"}],"wp:attachment":[{"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/media?parent=4122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/categories?post=4122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.autofacets.com\/insights\/wp-json\/wp\/v2\/tags?post=4122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}