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It’s clear that this shift towards a new sales model will not work for everybody. It will take a lot of time for OEMs and Retailers to decide if it is the right move for them, and if they do decide to move forward, it could take even longer to implement correctly.
For OEMs choosing agency, revenue streams fed by data could increase by 550% between 2021 and 2025. This will give manufacturers a prime opportunity to communicate add-ons such as new subscription services and vehicle accessories to consumers. Their Retailers could also see benefits such as administration tasks reduced by almost 40% and their enterprise value increased by up to 12%. Factors like this have already enticed leading OEMs including Mercedes-Benz to make the switch. But for every manufacturer who does, there are others who do not. One of Automotive Transformation Group’s leading OEM customers, Kia, told Auto Retail Bulletin that they see no benefit for consumers in changing to an agency model.*
Ultimately, consumers prioritise their experience over any kind of sales model. And, at a time when - on top of this sales model shake-up - business costs and supply issues continue to cause blockers, it’s imperative that both OEMs and Retailers do what they can to minimise disruption to the consumer experience, during this period of change.
The primary way they can do this is by investing in technology that centralises information and facilitates effective communication.
Only when businesses implement a seamless flow of data and intel, will they be able to deliver maximum efficiency and an optimised consumer experience. Whether that’s through agency, direct-to-consumer sales, or a traditional franchise model. For this reason, we have integrated our intelligent cloud-based document management system into our NetDirector® Digital Retailing Suite.
IStoreDOCS provides a centralised and secure location for completing, storing, and managing key documentation. It delivers a full audit trail and allows Retailers to achieve a 99.5% compliance rate. It can be integrated seamlessly into existing systems allowing for the smooth and compliant flow of data between Retailer and OEM.
Efficient document management is only half the story. iStoreDOCS also includes an intuitive consumer-facing application, which is easily accessible from multiple devices at a time that best suits them. It encourages direct contact, allowing them to move forward with transactions using e-signature software, book services and complete other aftersales activities.
Cloud-based document storage provides a perfect solution for businesses that wish to stay agile during this time of uncertainty. With complete visibility and flexible permissions, it empowers both OEMs and Retails to stay mobile, and at the same time boosts consumer satisfaction through consistent and direct consumer contact.
In an ever-more crowded market, where the complexities of the agency model are rife, it’s important that companies can optimise their day-to-day operations to deliver a smooth consumer experience, maintaining both loyalty and profitability in the process.
