创新改变了汽车但尚未改变购车体验-Innovation Has Transformed the Car but Not Yet the Car Buying Experience 2024 -BCG

InnovationHasTransformedtheCarbutNotYettheCarBuyingExperience

JANUARY09,2024

By

AndrejLevin

,AlfredWiederer,

KarenLelloucheTordjman

,

ChristophHeuser

,and

LisaBornschlegel

READINGTIME:12MIN

Automotivecompanies

areinvestingbillionsofdollarstoradicallychangeautomobiletechnology,powertrains,connectivity,anddesign.Inthelongerterm,thesemovesareintendedtocutcarbon

emissionsandredefinemobility,revolutionizingthein-carexperienceandmakingitanextensionofpersonalspace.Butoneaspectoftheautomobilelandscapeisbarelychangingatall,especially

amongtraditionalOEMs:thecarbuyingexperience.

©2024BostonConsultingGroup1

Onlyabouthalfofcarpurchaserssaythattheywerecompletelysatisfiedwiththeirlatestbuying

experience,accordingtoaBCGsurveyofnearly2,000consumersinChina,Germany,andtheUSwhohadpurchasedacarwithinthepasttwoyears.(SeeExhibit1.)Notably,inChina,thepercentageof

completelysatisfiedbuyersdropsto37%.Just43%ofrespondentsbelievethattheirrecentvehicle

purchasingexperiencesurpassedtheonetheyhadeightyearsprior.Moreover,surveyrespondentsidentifiedthecritical“awarenessphase”—whencarbuyersareinspiredtobuyanewcarandchoose

thebrandstheyfavor—asthemostdisappointingpartoftheexperience,fullysatisfyingtheexpectationsofonly34%ofcustomersoveralland20%ofcustomersintheChinesemarket.

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Toamplifythesignificanceofthisfrustration,42%ofrespondentssaidthatcustomerexperienceisthemostimportantelementintheircarpurchasingdecision.(SeeExhibit2.)Ifthe

customerexperience

isnegative,itcanoutweighotherconsiderations—suchasbrand,price,andperformance—thatOEMsinvestheavilyin.

Fortunately,OEMscanhurdletheseshortcomingsintheircustomersexperiencesiftheyarewillingtoembracecreativityandinnovatetheirsalesandmarketingtactics.Emergingtechnologiesoffer

numerousopportunitiestocreatemoreattractiveandenjoyablecarpurchasingexperiences.By

harnessingthesetechnologies,OEMscanbolstercustomerloyalty,triggerrepeatpurchases,andignite

activeword-of-mouthreferralstofueltop-linegrowth.Simultaneously,costsavingsinsalesandmarketingoperationscanenhancetheirbottomline.

ThreeTechnologiesThatCanBoosttheCustomerExperience

Themostpivotalstrategiestodisruptaprospectivecustomer’scarbuyingjourneyfallintothreecategories:

•Direct-to-Consumer(D2C).TheD2Cmodel(notapplicableintheUS)allowsOEMstomove

closertoend-customers,sellingvehiclesdirectlytothemthroughonlinechannels(forinstance),withphysicaldealersandagentsactingasproductexperts.Thisapproachcanalsoaidpotentialbuyersincustomizingthevehicleandfinalizingthesalespaperwork.AndD2Cmodelsincreasepricetransparencyandreduceoreliminateindividualnegotiations,dependingonthelegally

permissibleD2Cmodelinaparticularglobalregion.Moreover,direct,web-basedaccessto

customersenablesOEMstocollectmassiveamountsofcustomerdatathatcanleadtofurtherpersonalizationofthepurchasingexperienceandimprovementofOEMproducts.

•GenerativeArtificialIntelligence(GenAI).Forsometime,OEMshavebeenchanneling

resourcestowardAIforautonomousvehicle(AV)drivingandadvanceddriving-assistant

technologies.ButautomakershavepaidlittleattentiontousingAItoenrichthecustomer

experience,eventhoughtherequiredlevelofinvestmentislowerandthehorizonforpositive

returnsnearer.Amongotherthings,AIcanhelpOEMsanalyzemassiveamountsofdrivingandusagedatathattheirvehiclesthatarealreadyontheroadcollect.Thisdatacanbecombined

withinformationdrawnfromcustomerresponsesandengagementduringthepurchasing

process.Automakerscanleveragetheseanalysestopersonalizeandtailoroffers,anticipating

customerneedsandpreferences.

GenAI

canalsoscaleinteractionswithcustomers,usingsmartchatbotsinsaleswebsitesorcallcenterstoengagepotentialbuyerswithcomfortablenatural-

languagedialogstohelpfacilitatevehicledecisions.

•AugmentedReality(AR)andVirtualReality(VR).

ARandVR

createimmersive,interactive

landscapesandoverlaydigitalinformationontotherealworld.AlthoughARandVRarenotnew

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totheindustry,thequalityofthesetechnologieshassignificantlyimprovedinrecentyears.Whendeployedtogether,theycanrevolutionizethecustomerjourney,allowingcustomerstoexperiencethecarinvarioussimulatedenvironments,exploreconfigurationoptions,andvirtuallytest-drivevehiclesfromtheirhomes.

APop-UpStoreintheCustomer’sLivingRoom.Eachofthetechnologiesdiscussedabovegive

OEMstheopportunitytoenhancethecustomerexperience.Butwhencombinedinlargerimaginativestrategies,theyhavethepotentialtounlockanimmensetransformationgroundedindirectand

personalizedinteractionbetweenOEMandcustomersinanimmersiveexperience.

Oneintriguingexampleinvolveswhatwecallapop-upstoreinthecustomer’slivingroom.Withthis

approach,OEMsemployVRtocreateadigitalshowroomincustomers’homes,enablingcustomerstoconfigurecolors,interiors,accessories,andotherfeaturesinrealtime,andtoexperiencethecarwithvariouslooks,feels,angles,andsettingsapplied.Withoutleavingtheirhomes,theycanvirtuallytest-

drivecarsindifferentterrainsandconditionsandenjoyahighlypersonalizedandinteractiveexperience.

Tosupportthecustomerinthispop-upstoreadventure,aGenAI-enabledchatbotcansuggest

appropriatevehiclesonthebasisofthecustomer’sneedsandpreferencesandcananswervariousquestionsthatmayarise.Thebotalsocanrecommendadditionalfeaturesorconfigurationchoicesaeranalyzingthecustomer’sprofile—forexample,suggestingfour-wheel-driveforapersonwhofrequentlycommutesonicyroads.

Inaddition,thebotcanprovideinformationonpricing,includingleasingandfinancingoptions,andguaranteecompetitivelylowprices(evenofferingresearchthatshowsrecentsalesinthearea)to

convinceacustomertoorderthevehicleatonceviatheonlinechannel.

©2024BostonConsultingGroup4

AUniqueCustomerExperience

Threecharacteristicsofthelivingroompop-upstorearedistinctiveinthecontextofvehiclesalesjourneys:

•TrueCustomerFocus.Automobilebuyerstypicallyresearchandbuyvehiclesduringnonworkinghours—thatis,whenmanydealershipsareclosed.Thepop-upstoreisopen24-7andthereforeisalwaysaccessibleonthecustomer’sschedule.Moreover,itusesitsAIcapabilitiestopersonalizethebuyingexperienceinresponsetocustomerpreferencesidentifiedfromdigitalprofiles,data

culledfromthesalesprocessovermanyyears,andvehicleusagedata.

•AlignmentwithOEMObjectives.Thepop-upstorecanactivelysteersaleseffortstowardthe

OEM’stargetcustomersanddevelopvolumeprojections,withouthavingtobuildcomplex

incentiveprogramsfordealers.Marketingandincentiveprogramsappealdirectlytocustomers

andareeffectiveimmediately,eliminatingthelaginatypicaldealershipmodelbetweenlaunchingaprogramandseeingitsimpact.

•ContinuousImprovement.Theretailercancontinuouslyandautomaticallyimproveandupdateitspop-upstoreinresponsetorecentcustomerinteractions.Itcansystematicallyrefinean

individualcustomer’sprofilethroughoutthepurchasingexperience,leadingtoincreasingly

tailoredofferings.Thispersonalizedapproachensuresthatencounterswitheachcustomerarerelevantandengaging.Moreover,theOEMcanleveragetheknowledgegleanedfromaspecificcustomerinteractionacrossthesaleschanneltoenhancetheexperienceofothercustomerswith

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similarattributesandpreferences.Ultimately,thedatathatOEMsgatheranduseinthevirtual

realitypop-upenvironmentcaninformbroadaspectsoftheirbusiness,suchasportfoliostrategy,R&Ddirection,andproductmanagement,packaging,andpricing.ThiswillenableOEMsand

retailerstoalignmorecloselywithevolvingmarkettrendsandcustomerattitudes.

Thepop-upstoreinthecustomer’slivingroomisjustoneofseveralpossibleapplicationsofthenew

technologiesthatOEMscanemploytotheiradvantage.Anotheroptionisproducttesting

communities,inwhichcompaniesofferpeoplegamepointsforcompletingvirtualvehicle-relatedtasks,suchasdrivingaspecificdistanceundercertaindrivingconditions.Participantscanearnmorepointsfromlikesthattheyreceivefromotherusers.Playerswhocollectthemostpointscanwinprizessuch

asservingasreal-lifetestdriversforaweek.

Yetanotherpossibilityinvolvesconvenienttestdrives.Shortlybeforeofficiallylaunchingacar,

automakerscanpromotethevehicleinselectcities,displayingthecarinprimelocationsandallowingpassersbytobooktestdrivesinstantlyviaanapp.Onceinthecar,driversreceiveashortintroductionthroughARglasses,whileaGenAI-enabledvoiceassistantanswersquestionsandhighlightsrelevant

features.Aertheride,theOEMoffersthepotentialcustomeravideoofthetestdriveandasummaryofkeydatapoints(includingspeed,route,batteryusage,anddriversentiment)viatheapp.

Otherapplicationsexist,aswell—forexample,exclusiveentertainment.Forautonomousdrivingenvironmentsandduringrelativelylongelectricvehicle(EV)chargingintervals,OEMscanturn

standardvehiclesintoentertainmentvenues,offeringcustomersindividualizedmusic,movies,or

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gamingthattheydevelopedjointlywithpartnersinthemultimediaindustry.Usingsuchfeaturesofthe

carasvariableseats,climatecontrol,andambientlighting,OEMscanorchestrateauniquelyimmersiveexperience.

WhatAretheBenefits?

BCGrecentlyanalyzedhowinnovativecompaniescreateshareholdervalueandimproveperformancebyadoptingnewtechnologiesanddevelopinguniqueapproachestooutpacecompetitorsintheir

market.Inour

BuildfortheFuture

(BFF)analysisofmorethan2,500companies,wefoundthatonly17%ofautomotivefirmshadadoptedimmersivesalesexperiences—andthosecompanies

outperformedtherestoftheindustry.Thedataindicatesthattechnology-basedcustomerexperienceinitiatives,suchasintegratedappsandmarketintelligencetounderstandcustomerneedsand

preferences,wereaclearpriorityofthemostadvancedcompaniesintheBFFanalysis.Thiswasnotthecasewithlaggingautomotivecompanies.

Inlightoftoday'scompetitiveautomotivemarket—wheremanyvehiclessharesimilartechnical

specifications,features,andperformance—theoverallcustomerexperienceplaysacrucialrolein

settingOEMsapart,andthereisclearlybothroomandaneedforimprovement.Justaskpotential

buyers.Inoursurvey,around70%ofrespondentssaidthattheywantednewdigitaltechnologiestobeacentralcomponentofpurchasingacar.(SeeExhibit3.)

Butonly9%pointedtothebuyingprocessasthemostevolvedaspectoftheautomotiveindustryinrecentyears.(SeeExhibit4.)

©2024BostonConsultingGroup7

Byintegratinginnovationanddigitalenhancementsintothecustomerjourney,OEMscanestablishadistinctiveidentityandsecurecriticaltoplinegainsinacompetitivelandscapemarkedbydeclining

globalgrowth.Thecustomerjourneyisnotsolelyaboutsellingaproduct,butalsoaboutcreatingaholisticexperiencethatleavesalastingimpression.Tosetthemselvesapart,OEMsshouldfocusonthefollowingstrategicsteps:

•Establishexclusivity.Offeringaseamless,interactivejourneyenhancescustomerloyalty.

•Createaninnovatorimage.AdoptingdigitalconceptssuchasAR/VRshowroomsresonateswithtech-savvyclients.

•Drivecommunitybuilding.Avibrantonlinecommunityfostersbrandloyaltyandengagement.

•Enablepersonalization.Offeringcustomerstailoredexperiences,fromvehicleconfigurationstopost-salesinteractions,makesthemfeelvalued.

•Emphasizeconvenience.Streamliningprocessessuchastest-driveschedulingandpurchasingcansignificantlyenhancethecustomerjourney.

AdigitizedcustomerexperiencecanalsosharplylowerthecostbaseofOEMs.TraditionalOEMshavelongstruggledwithhighcostsofsales,drivenbyextensivedealernetworks,physicalshowrooms,andtraditionalmarketingefforts.Theseexpendituresusuallyincreaseinlinewithrisingvehiclesales,

yieldingonlylimitedeconomiesofscale.

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Incontrast,digital-nativeOEMshaveamuchleanerapproach,leveragingonlineplatformsandD2Cmodelstostreamlinesalesprocesses,reducephysicalspace,andminimizeinventory.Withtheir

model,increasingvehiclesalesaffectstheabsolutecostbaseformarketingandsalesonlymarginally.Asaresult,therelativecostsformarketingandsalesdropdrasticallyascustomervolumerises,

makingthedigital-nativeOEMs’strategyfarmorecompetitivethanthetraditionalsalesmodel.Infact,ittranslatesintoasavingsof$2,000to$4,000pervehiclesold—anumberthatwillincreaseassales

expand,duetotheinfinitescalabilityofthemodelatmarginalcosts.

OEMscanalsoachievesubstantialshort-termmarketingsavings.Byunderstandingtheneedsof

customersbetter,companiescanfocustheirmarketingbudgetsonprecisionandpersonalization,

whilereducingtheirspendingonmoregenericpromotionalcampaigns.Furthermore,measuring

marketingandsalesreturnoninvestmentismoreaccurateandprecisebecauseitreflectssignificantlymoredataandAIanalysis,enablingcontinuousimprovementinbudgetallocation.

GiventhestakesforOEMsintheautomobile’stransformation—thesizeoftheirinvestmentsandthe

salesgrowththattheyarecountingontokickstartEVandAVmobility—anequallyaggressive

approachtosellingandmarketingtheirvehiclesiscrucial.ByintegratingtheemergingtechnologiesofBigData,GenAI,andAR/VR,companiescanputthemselvesinabetterpositiontodriveprofitmarginsthatonlytech-savvyautomakersenjoytoday.

Currently,OEMsmayviewthesetechnologiesasmerely“nicetohave”andperhapsascapabilitiestocasuallyconsider.Buttomorrowcomesquicklyinadisruptedindustry.Forthisreason,OEMsmustprioritizeimplementingnewsalesandmarketingenvironments—andbuildingthetechnological

capabilitiestonavigatethemefficientlyandeffectively—orriskplayingcatchup.

TheauthorsthanktheircolleaguesJohannesSeyfriedandMarioFarskyfortheircontributionstothisreport.

©2024BostonConsultingGroup9

Authors

AndrejLevin

MANAGINGDIRECTOR&PARTNER

Hamburg

AlfredWiederer

MANAGINGDIRECT