There is lots of buzz around telematics, but very few people who understand how to use it. The Auto Care Association (autocare.org) has a task force dedicated to watching it.
Roger C. Lanctot, a clear leader in the automotive industry, has a number of posts that will tell you where things are heading. BTW, his posts are good reads. All of them.
The key is vehicle owners, fleets and consumers, and the value you can build for them. In an age of prolific Internet-connected technologies, the answer is quite simple: connection with your customers. Telematics is a Loyalty solution.
Better than you expected:
In the automotive aftermarket, many talk about loyalty as one of the biggest challenges. The idea of using telematics for loyalty is not novel. The approach however, in how you tie telematics to loyalty, is novel. In that regard, I think telematics is probably better than you ever expected for multiple reasons:
- You (auto care and service facilities) can provide telematics to your customers for close to $0. (yep, you read that right) The ROI you can get from a well-implemented telematics system is staggering.
- Your customers already want it. You just need to package telematics in a way they desire it.
- Your revenue will increase and your costs will decrease.
So, where are you in your telematics journey? I hope you are asking that question about now.
These are interesting times for sure. It happens that there is a lot of government regulation (in the US and across the globe) evolving around the larger connected car markets and ultimately telematics. There is much unfolding in the industry.
I'd love your thoughts.