Leveraging Software for Automotive Efficiency
In today’s automotive industry, efficiency is paramount. Software adoption is pivotal, driving growth and enhancing engagement for all stakeholders. Marc Andreessen famously stated in 2011 that , “Software is eating the world,” and in the automotive industry, recent advances in software is paving the way for a brighter, more efficient future.
Shift to Software:
Software has been a key driver to the success of most industries and companies and has been fueling some of the amazing growth for US based companies. In highlighting their investment in driving company efficiencies, CEOs of publicly traded companies mentioned AI/software efficiencies 30,000 times last year alone: There were over 30,000 mentions of AI on earnings calls by the end of 2023 as C-suite leaders gird for a ‘massive technology shift’ | Fortune
Software driving Efficiencies:
According to a Harvard Business Review study, marketing/communicating to a company’s current customers are anywhere from 5X to 25X more effective and efficient than communicating to prospects- The Value of Keeping the Right Customers (hbr.org) . Software is the key to driving this efficiency.
Growth Opportunities:
Dealerships can revolutionize customer relationships and engagement by investing in software to maximize marketing, streamline operations and optimize incentive management for improved customer satisfaction and profitability. The automotive industry is rapidly evolving, replacing manual processes with software solutions to maximize resources and unleash potential.
Realizing Benefits:
Recent earnings reports highlight software as a strategic investment for enhancing team productivity and customer communications, underlining its pivotal role in modern capitalism. Recent CEOs of Publicly traded Automotive Retailer companies touted both increases in sales per salesperson as well as the use of AI/software.
Looking Ahead:
At NADA 2024 Outsell was the first in the industry to unveil the ability to leverage its “Converter Campaign™”. This unique product allows dealerships to automatically engage and connect with their current customers when their current customers visit their website. The industry touts the importance of website traffic to convert the sale yet fewer than 3% of website traffic users submits a lead form (meaning, that 97% of all website traffic is unknown). Outsell’s converter campaign provides both insights and automation to improve communication while driving outcomes. Yes, leveraging Outsell’s unique platform and Converter Campaign brings to reality Marc Andreessen’s assertion that “Software is eating the world.”
Conclusion:
Efficiency is paramount in today’s automotive landscape. Investing in software solutions positions companies for long-term growth and prosperity. Now is the time to harness the transformative power of software to improve your operations efficiency by 5X- 25X.
-John Clavadetscher, President, Outsell
LinkedIn: https://www.linkedin.com/in/john-clavadetscher-1692693/