CapGemini reports

I have found two reports (by CapGemini) to realized how privacy, data protection, transparency and more and more important to build trust with your customers.

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Cars Online 06/07: Understanding the Dynamics of Consumer Buying Behavior and Customer Loyalty

Vehicle ownership is a long-term, complex relationship among the consumer, the manufacturer and the dealer that is often dependent as much on emotional as rational factors. This was among the key findings of the eighth annual Cars Online study from Capgemini. The study - which surveyed consumers in China, France, Germany, the United Kingdom and the United States - examines trends in consumer buying behavior, Internet usage and customer loyalty.
 
Abstract

The need for accurate consumer knowledge—how they shop, why they buy, what keeps them coming back—will continue to grow. Customers’ search for information during the vehicle buying process has become increasingly diverse and complex, making it more difficult for automotive companies to predict their behaviour.

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Transparency and Trust Are Critical

The research found that automotive companies must move away from the traditional asymmetrical customer/dealer relationship so often characterised by negative preconceptions and stereotypes on the part of both parties. The key is to move toward a more balanced relationship where there is transparency of information and mutual trust, thereby improving sales and beginning to build customer loyalty.

Improved customer intelligence was found to be a critical success factor in responding to the changing dynamics of the customer/dealer relationship. Since customer intelligence, and in fact customer behaviour, evolves, it’s critical that automotive companies always keep their finger on the pulse. Best practices include sales training seminars that incorporate intelligence about customer research tactics, as well as careful and constant observation of consumer behaviour through the entire vehicle buying process.

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The Personal Touch Works

It’s clear from our Cars Online findings that the move toward greater personalisation and customisation is an increasingly important element in the entire vehicle buying process and is a key to maintaining the customer relationship.

However, personalisation can be a double-edged sword given today’s privacy concerns. Whilst close to twothirds said they would welcome personalised communications, about 15% of respondents indicated that they would be less likely to buy their next vehicle from the same dealer or manufacturer if they received these types of personalised communication.

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2016: The Future Value Chain

The speed of change and a sense of urgency will drive the evolution of the value chain over the next decade. Is the consumer products and retail industry ready? This new study, from the Global Commerce Initiative, Capgemini and Intel, defines a unique vision of the total value chain for consumer goods from manufacture to consumption.
[read the full article]

Abstract


New Technologies Will Benefit Businesses and Consumers


By 2016, quantum computers will be reality and chips will have a capacity of one terabyte (1 million megabytes). Software agents will manage auctions, work and personal diaries and take care of many other daily jobs. Information will be available everywhere and through one personal device. Virtual reality will exist for a variety of products and services, not just video games. Security of data and privacy will be critical and biometry will be a key to ensuring secure access and authorisation.


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2016 Information Flow

Consumers’ willingness to share their personal information with companies will increase over time with greater Internet use and presuming their experiences in sharing data are largely positive.

This will be dependent on the consumer having confidence in the privacy and security measures in place covering this type of activity. Most importantly, however, they will expect to get something of value in return, such as tailor-made promotions or added convenience. Companies will also develop clearer market segmentation based not on who the consumers are (age, gender, etc.) but on how they act (their buying behaviour separate from traditional demographic cohorts).

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