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The Driving Force Of Innovation In New Marketing Era: Technology Empowerment

2019/11/26 17:30:00 170

New MarketingEraInnovationDriving ForceTechnology

In November 20th, the 2019 China auto industry summit hosted by the twenty-first Century economic report was held in Guangzhou. Cui Dongshu, Secretary General of the national passenger car information conference, Wang Jinwei, Minister of network of FAW TOYOTA Automobile Sales Co., Hao Shutao, general manager of FAW FAW-Volkswagen Automobile Co financial management department, Hao Shutao, general manager of Dun Technology Automotive Finance Department, China Automotive Finance laboratory special consultant, Vice Minister of Development Department of Guangzhou Automobile Trading Co., Ltd., Zhu Guixi, general manager of Guangzhou Automobile Trading Group Financial Center, Hui Qin, and China Automotive (Finance) 50 Member Forum Expert Committee Zhang Xinting. How to solve the pain point of innovation platform? How does technological innovation help customer management?

Zhang Xinting: the theme of this dialogue can be specifically interpreted as: the new marketing era is technology empowerment, precision marketing, upgrading services, collaborative innovation. Now, let's talk about how to boost sales from the perspective of big data marketing.

Cui Dongshu: to promote the development of the entire automobile industry should be the overall action of the automobile industry. All the aspects of automobile manufacturers, automobile dealers and service providers should act together, form an effective mechanism through interaction, initiative and linkage, so as to promote the good development of our automobile consumption, especially in the aspect of technology and automobile consumption.

The smart 4S store launched last year is mainly based on the 4S store as a platform to promote the effective development of automobile consumption. By using scientific and technological means, the automobile dealers can more effectively grasp the mentality of the automobile customers, make multi-party drainage, make the 4S store platform a real trading platform, and promote the whole customer information, customer preferences and future trends, as well as custom-made customized solutions, such as developing direct rent and leaseback, and so on, will have a significant impact on automobile consumption, especially when the new energy vehicle currently has a sharp decline. We should take science and technology innovation as the means and policy orientation as the driving force to further promote consumption. Automobile finance has great potential for development.

Wang Jinwei: there are two ways for manufacturers to locate finance, one is to expand sales of new cars, and the other is to promote the upgrading of customers' consumption. Two. Our understanding of automotive finance innovation can be summed up as three "everything". The first is "everything is the media". Our financial cooperation platform, such as the palm life APP of China Merchants Bank, has eighty million members and nearly thirty million owners. It can be said that this is a good media and a very good OGC distribution platform. We can make good use of it. The second is "everything is for the electricity supplier". The huge client of the financial platform can provide the normalization of clues. The third is "everything can be transformed". On the platform of bank platform and insurance company, there are nearly 1 hundred million of the stock customers. For these stock customers, we can set targeted products to achieve transformation.

Zhang Xinting: the above guests have just mentioned the platform for scientific and technological innovation and how to revitalize our stock customers. Now let's welcome Hao Hao, the FAW - Volkswagen financial management department, to talk about how auto finance products help automobile sales.

Hao Shutao: we began to pay attention to the financial leasing business from 2017. At the beginning, we paid more attention to the leaseback. We found that the leaseback is not without real value. For example, the auto finance company is only paying more than 20% of the financial products, who will do the down payment 20% or less. We can do it through the leaseback. The two shareholders of FAW finance and Volkswagen finance also have great support for us. We rely on them to improve our leaseback penetration, reaching 10% now. In the future, we discuss with shareholders financial companies the difference between financial companies and leasing companies. Leasing companies are concerned about customers who pay below 30% and below 20%, just like customers of town youth.

We began to explore direct rent from last year. During the process of promotion, we found that the difficulty of direct rent is to produce three selected products for one year, two years and three years. Since last year, we have joined SAIC Volkswagen and Volkswagen China to create a salvage insurance company called VTT. The most important thing is the residual value protection. We cooperate with leasing companies and insurance companies to launch products that provide insurance support for residual value insurance. We also cooperate with third party such as excellent garage in the market. In direct leasing business, manufacturers must play a leading role. Because there are so many participants in the business chain, dealers, mainframe factories, used car auction companies and used car dealers will play a great role if we connect these subjects together and get through the leasing industry chain.

In terms of insurance, we found that the renewal rate of dealers is very low. In this regard, our system needs to make big insurance, do brand car insurance, and provide value-added services to distributors and customers. We expand the insurance base, and we introduce small insurance such as car insurance and extended insurance. On the basis of simple car insurance, we can bring more value-added services to customers and let customers feel better. Customers will continue to buy insurance in our car dealers. In the future, we also need to make digital transformation and sell these products online to our customers.

Zhang Xin Ting: below, please talk with shield technology chief Wang from the perspective of technology empowerment and big data processing, talk about how to help car marketing?

Wang Zeyan: now each host plant has increased its cooperation with more financial institutions in order to expand sales. When choosing a financial partner, the host plant hopes that these financial institutions can work together to promote sales. However, we can see that there are many similar risk preferences and service areas for financial partners of the host plant. Some customer groups are scrambled for some groups but no one is concerned about it, which is not obvious for the promotion of sales volume. How to establish a system of mutual coordination in it? For example, today we mention a lot of words that are young people in towns and towns, and further down there are young villages. We want to serve them and let them buy cars. Can the existing service system support them? Our manufacturers and manufacturers' finance will be difficult to push forward according to the present thinking. Do we need to change? Now, there is a word in the financial field that is open finance. Can we build an open platform to introduce financial institutions, through this platform, let the financial institutions with different preferences and service scope be complemented by competition? With these problems solved, dealers are more likely to sell cars and make money easier.

In addition, if we want to achieve deep customer identification, we can take into account the situation of every customer group in what areas, preferences for car purchase, credit assessment, and capital needs. We can see thousands of people face thousands of faces. It is difficult to identify with traditional manual experience, which requires the support of technical strength. Through deep customer identification, on the one hand, it improves the efficiency of sales. On the other hand, it ensures the risk level of various financial institutions, so that the risk is more controllable. At the same time, it can make manufacturers' discount more clear and more effective. Only if the host factories, financial companies and dealers achieve a win-win situation, can financial technology really help boost sales of cars.

Zhu Guixi: the real start of our country's auto consumption loan started from the establishment of General Motors finance in SAIC in 2004. Up to now 15 years, the penetration rate has reached 45%, which is close to the level of penetration in the United States, and the development of the industry is basically mature.

At present, the gap between our automobile finance and the US is mainly in the direct rent of cars. The penetration rate of American direct rent is close to 40%. We only have less than 5%. In the next 15-20 years, our automobile financial innovation is mainly in the direct rental of automobiles.

Direct rental can solve the biggest problem facing our car sales from the incremental market to the stock market, which is the subject of maintaining customer loyalty. When we do incremental market, our primary goal is to find incremental customers. After entering the stock market, our primary goal is to look after our existing customers, hoping that these stock customers must buy our own brand cars when changing the car. How do we do this? Direct hire is the best tool. Because direct car rental for customers, the card is very simple and fast, do not need to play cards on their own, two or three years later to return the second-hand car is very convenient. For dealers and mainframe factories, when they use cars to rent new cars directly, they will know that the car may come back in a few years and the value of second-hand cars returned. So we have relatively accurate prediction data on how many second-hand cars can be recovered in a few years and how many new cars the customers may buy. Therefore, the sales volume of our new cars will be more stable. At the same time, we can stabilize the price of our new cars by stabilizing the residual value of used cars.

It can be seen that car direct hire is a very good tool to promote sales, stabilize prices and build new and second-hand car cycle chains. We hope that the host plant can support the development of car direct rental business just like the support of automobile consumption loans, which is very beneficial to the transformation of our marketing mode.

In recent years, we have seen many domestic mainframe factories have been exploring. Mercedes Benz leasing has promoted a product that is guaranteed to rent and purchase. It is based on the car leaseback. Customers have the right to return the used car after two or three years, and sell the used car to the dealer at the agreed price when buying a new car. This is also an innovative exploration in terms of car financing leases from leaseback to direct rent. Volkswagen (China) investment company jointly established FAW Volkswagen and SAIC Volkswagen this year. Its main business is to provide customers with mass car customers with a few years' worth of second-hand cars. This is a typical way to stabilize the price of second-hand cars by stabilizing the residual value of second-hand cars. This is a very good practice.

From another point of view, we also hope that we can make good use of the means of vehicle financing lease. After incremental sales to stock sales, there is another angle to change. When we do incremental marketing, our marketing is more based on feeling, but after entering the stock market, we need more precise sales. Automobile finance companies, auto finance companies and auto financing leasing companies have the most complete data of customers. Because of the need of risk management, they will collect many aspects of customers' information, and they can make very accurate portraits of customers, and they also have data of cars, data of vehicle type and configuration. According to the portrait of customers and the information of customers on a car, through the processing of big data and artificial intelligence, the model and configuration of the next car can be more targeted to customers. This accuracy rate is much more accurate than that of previous marketing.

Zhang Xinting: Zhu Gang Gang has just explained the car rental directly to everyone. Finally, we share our views on behalf of Hui Qin, the only 4S shop group on our stage.

Hui Qin: with the transparency of information, the liberalization of the market has become the selling price of the package price, and the dealer has been plunged into a price war. Getting into a price war is like entering a dead end. We have no advantage in price and cost. Therefore, we need comprehensive financial services to sell. Since last year, we have made our own security services. At the same time, we have introduced the high viscosity insurance. In the past, 4S shops often focused on the front garments of quality products. We also valued the front service of the Guangzhou auto trade, and in 2018, we launched the self insurance extension of the group. We operate self insurance extension projects among various brotherhood units in 4S shops, which form a huge pool of funds. We have extended five years of quality assurance, five year insurance and five years of replacement services through extended guarantee services plus differential replacement insurance.

We want to carry out differentiated marketing, through the hardware front and the front of the service to launch the appropriate products, the price is definitely more expensive than outside. At that time, financial business has become a good means of help for our sales. Our attitude towards finance is different from the traditional 4S store. We will regard it as an independent derivative business, and it is an effective tool to reduce customer purchase threshold. We put forward 100% of the financial penetration as the assessment target of the group. In view of the traditional car buyers, our financial products can help upgrade consumption. The traditional financial customers come to us with a down payment budget and a monthly budget. We have a loan product with a maximum maturity of eight years.

 

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