Long claim managing process is the biggest hurdle for OEMs in this fast-paced technology-driven world. In this digital era, customers are smart and have better knowledge than ever before. Such modern customer needs a superior kind of marketing engagements and quick problem solving approach.
According to a research, in past few years length of sales cycle of OEMs has increased up to 22% due to more decision makers being involved in the process. Furthermore, it has been recorded that 25% of claim takes approximately seven months or longer to be processed. That’s why it’s important for OEMs and dealers to think about the health of their business.
However, an efficient claim management system will definitely develop sales and marketing placement and positively impacts the pace of the sales cycle.
Is Your Claim Management Platform Really Customer-Centric?
There are all the twists and turns that the average customer takes on his or her journey with your brand—various touch points including social marketing, communication, mobile apps, and information and website interactions. While having a look in to the current system, ask these questions:
- Do you have an efficient claim management system?
- Does it help you in better selling?
- Does it provide a consolidated 360° view of organizational operations?
- Does your software sync with all other channels such as email, mobile, etc.?
Top 3 critical challenges to focus:
Disparate Data - The customer and their claim related information is often stored at multiple locations, like data within organization and data from third party sources. It includes e-mails, messages, interactions through social platform, data from weblogs, and much more. Making it extremely difficult to systematically collect, centralize, and share with other departments internally.
Lack of control- OEMs often lack a practical means to analyze large amounts of claims data resulting from customer interactions to surface rising trends, competitive advantages/disadvantages, and other info for perfect decision making. There is an insufficiency of software that could manage that data for OEMs and already engaged with other requests from across the authorized dealers. And the analytics tools that you will have at your fingertips and will instantly get the up-to-date understanding of customers need.
Incompatible customer experience: The rise of technology, legacy strategy and solution has caused the customer experience to become fragmented and different. And OEMs should face it that there are many fragile and often broken moments in the customer journey. Additionally, the change in the channel typically adds complication and threatens to disrupt purchases and sometimes even hurts loyalty.
How to Address Such Challenges?
A single, unified view and efficient process of all claims can streamline OEMs sales and marketing process and help them to build relationships throughout the lifecycle of product.
Needless to say, OEMs must apply advanced technology like automated warranty claim management to gain a 360-degree view of their organizational process and field process and easily engage with dealers in case of any issue. OEMs must act fast to streamline their prospect claim management and have a complete integrated view that could help them to efficiently navigate while maintaining a strategic focus on maximizing company performance.
Final Thoughts
In today’s competitive market having a weak sales and claim management processes means handing money and your customers direct to your competitor. So, if you’re committing such crime, it’s time to shut it off.
Adopt right technology and make use of right strategy to win back customers in one seamless journey. Identify the “weak areas” in your processes and how they are affecting your business. Research deeply, re-tune it through an easy filtering step to pair strategy to the specific customer and dealers and ensure to bring them back on your track.
How Intellinet Can Help OEMs to bridge the gap between legacy and digital To transform the digital lead engagement process of OEMs and manage their sales funnels more effectively, automotive warranty claim management system from Intellinet is the best solution. It will also elevate their business performance with real-time analytics, enable a faster claim process, and enhance overall customer experience.
For more details of the software or to enjoy a free demo of the software, connect with us at www.intellinetsystem.com
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