Today’s car buyer benefits enormously from the fierce competition among automakers. Quality, comfort, performance, design, value for money, fuel efficiency and many other attributes have all improved markedly, as automakers invest billions to stay one step ahead of their rivals, or to simply keep pace.
But this automotive arms race does not appear to extend to an area that’s as important as the vehicles themselves: the experience of buying and owning one. Yet enhancing the customer experience can become a critical area of differentiation for automakers.
Using data from NPS Prism®, auto original equipment manufacturers (OEMs) are discovering that many episodes in the customer journey have a big impact on loyalty, and on bottom-line performance. The charts above highlight just how critical it is for OEMs to provide a great customer experience: Car buyers who give high marks for great customer experience are far more likely to consider their current OEM for their next vehicle purchase.
For an OEM, providing a great customer experience depends on knowing what customers care about, and then assessing where you’re strong and where you lag, so you can prioritize and address the gaps that will make the biggest impact on customer delight. NPS Prism provides detailed data on dozens of discrete episodes that shape the car buying and ownership experience, from researching models to purchasing and financing a car, conducting service and maintenance, using in-car technology, and much more. Knowing which companies are good—and, more importantly, why—on each episode can help an automaker prioritize the customer experience improvements that will make the biggest impact.
Having invested billions to build the best possible vehicles, providing a customer experience to match looms as the next competitive front.
NPS Prism® is a registered trademark of Bain & Company, Inc.