Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Cloud CRM will Gain Traction Among Small Dealerships and Increase Penetration to 35.0% by 2025
* Required Fields
Pay by invoice
This study analyzes the competitive landscape, business models, pricing, and future focus areas of dealerships, DMS providers, and third-party vendors in the automotive CRM market.Automotive retail is shifting from a product-driven to customer-centric approach and accommodating changing customer expectations have become crucial for dealers. However, dealerships are struggling to finely capture customer data through multiple online retail channels, ensure that information is actionable, and achieve a centralized view of customers across all stores. Automotive CRM is trailing behind other industries and dealerships need to utilize the advanced capabilities of CRM to proactively identify business opportunities and build trusted relationships with their customers throughout the ownership lifecycle.Automotive CRM’s competitive landscape is evolving, with DMS providers entering the market and intensifying competition. DMS providers are lacking advanced CRM capabilities and, hence, acquiring small CRM vendors to realize profitable business opportunities in the market For example, CDK Global acquired ELEAD1ONE to strengthen CRM capabilities and expand its client base in the United States. Third-party CRM vendors are offering flexible integration interfaces to ensure that dealers connect to DMS systems seamlessly. It is essential for CRM and DMS providers to work hand-in-hand to survive in the industry and for dealers to realize business profits. Dealerships/OEMs who establish a well-defined omni-channel strategy are likely to attract more customers, build trusted relationships, and transform the overall customer experience, thereby enabling higher profit margins in sales and aftersales.Proactive recommendations and targeted campaigns are imperative in the age of omni-channel retailing. Automotive CRM solutions should seamlessly synchronize customer data from multiple touchpoints and analyze them using data mining algorithms to maximize customer engagement. Dealerships should aggressively work with CRM vendors to integrate data from disparate sources and identify profitable business opportunities through CRM analytics. OEMs need to re-evaluate their omni-channel strategies and collaborate with CRM vendors to improve the shopping experience for customers across multiple retail channels.Web-based CRM has been traditionally deployed in a majority of the dealerships in the United States and Europe. However, key benefits such as reduced capital costs, less maintenance overheads, and usage-based pricing are favoring small and mid-sized dealerships in the US market to implement cloud-based CRM solutions. European dealerships will be relatively slow in migrating to cloud CRM due to stringent data privacy laws (such as the GDPR).Large dealerships will involve a long tail of transition and security concerns when it comes to full cloud adoption and, hence, will remain skeptical towards cloud CRM until 2025.
Key Issues Addressed
Global Overview of Blockchain Technology in Construction and Mining Equipment, Forecast to 2023
South African Electric Vehicles Market, Forecast to 2022
Global Automotive Cybersecurity Market, Forecast to 2025
CES Automotive and Transportation Highlights, 2018
Industrial Internet of Things (IIoT) and the Future of Manufacturing, Forecast to 2021
Future of Big Data Analytics, Related Business Models, and Automotive Use Cases, Forecast to 2025
Blockchain Technology Revolutionizing Automotive Industry
Strategic Analysis of eRetailing in the Global Automotive Aftermarket
Disruptive Satellite Communication in the Automotive Industry
Automotive Industry IT Spending—CIO Focus, Trends, and Highest Growth Areas
consumer electronics market
augmented reality market
electric car market
health supplement market
nutritional supplement market
well intervention market
diet food market
Fill in the fields below to receive a sample report
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.