Six Secret Benefits Of Revenue Growth Management Product For The Automotive Aftermarket

You are in the right place to know about the automotive aftermarket, which is increasing to reach 950.09 billion by 2027 from 693.8 billion dollars globally as per Precedence Report. It is an integral part of the automotive companies by supplying essential parts, chemicals, components, accessories, and equipment. It helps millions of vehicles to run on the road with proper maintenance and repair. But the UK automotive aftermarket is now under threat from many disruptions. 

In recent years digitalization, eCommerce, and changing customer behavior are disrupting the aftermarket automotive industry. Also, it is affecting the long-term profitability of the service dealers not to manage revenue by selling them thousands of SKUs through outlets. Since most vehicles are now manufactured with more electronic and digital components, the data generated is growing concurrently. It is easy to acquire valuable knowledge from this vast collected data, like driving habits: vehicles’ predictive maintenance, and others. 

So, check out how a revenue growth management SaaS product can best overcome the challenges by pinpointing sales to increase the revenue of the automotive aftermarket.

Benefits of automotive aftermarket revenue growth management SaaS product

As a secondary market to the automotive industry, the automotive aftermarket is part and parcel of it to sell its many parts for the vehicles to sell and run on the road. It has two categories replacement of sale parts of the OEM or the original equipment manufacturer or generic parts. The other category is selling accessories meant for decoration and other fancy purposes. 

But in the past couple of years, there has been a massive disruption in the UK automotive aftermarket industry. Hence, reputed software companies have introduced revenue growth management SaaS products with Artificial Intelligence enabled solutions to cope with the challenges. The following are its benefits to overcoming disruptions, increasing sales, and hence revenue growth. 

• Revolutionizes automotive aftermarket sales with AI – enables solutions to make decisions based on the insights got from data rather than assumptions or because of lacking granular level understanding.
• Solves the limited understanding of influential behavioral and buying patterns of the management to know them for boosting sales and putting the products on display in the right place         customers want to see and buy
• As an easy-to-use product with a consumer-grade user interface, it can plug and play bolt-on products without needing to replace the existing sales systems.
• On a secure SaaS platform with minimum upfront costs to provide the best in class user experience with role or persona-based access
• Easy to implement is one part. It is also scalable and secure, with an inbuilt chatbot to answer even complex questions.
• Offers best practices for managing any number of SKUs and retailers by providing intelligence to sales teams for focusing on revenue improvement

The above facts and benefits will convince you to use the best automotive aftermarket SaaS product to increase revenue, reduce promotion spending from 5 to 10%, and bring ten times more ROI.