FLEETDRIVE
Mental gymnastics
That may require some uncomfortable mental gymnastics . Don ’ t think of your company as a specialist in only one field , but potentially as a player in others as well . Did we say uncomfortable ? The thing is to have a positive mindset about our industry in flux . The word we should use is agile .
Agility is good , but that doesn ’ t mean there aren ’ t constants in this ever-changing world . A lot of the change , most of your competitors , and surely also your next business opportunities , will be driven by data .
Big Data and AI
If you ’ re out on the rough seas of remarketing and you ’ re looking for a lighthouse to guide you , Big Data and Artificial Intelligence are it – and so are the technology companies that can provide you with the tools to exploit them .
Having the right tech provide you with the right insights can make a world of difference . It will help you find the right product , help you set the right price , and will guide you to the right customers . But here ’ s the risk of our increasingly data-driven industry : we ’ re in danger of forgetting that remarketing is , in essence and at the end , a people business .
Human touch
There ’ s much about dealing with those who sell and buy used vehicles that AI can ’ t pick up . You need the human touch . You need the right people . To get the most out of your contacts with suppliers and customers – and to get the most out of your data-driven technology . Now more than ever , remarketing and many similar industries are in a war for talents .
Your employees want smart tools and attractive conditions to do their job . But what makes you really stand out from your competitors is your vision ; you Big Idea to change the industry , grow your business , and help the planet .
Enthusiasm and creativity
Big Ideas attract people : employees as well as customers . That attraction generates sparks of enthusiasm and creativity that no computer can .
So be careful about replacing people with apps , human ingenuity with Artificial Intelligence .
But again , we don ’ t live in an either / or world anymore . People make the difference , but technology will help them . So they need to be adequately trained and coached in all the online and digital tools at their disposal . And all that without forgetting the end customer .
Multiple fronts
The implication of all of this is that you must learn to multitask , and work on multiple fronts . It ’ s a simple truth , but apparently , for many players still a hard one to swallow .
Because some companies – including some of the larger ones in the field – are continuing doing business as if it ’ s still 2019 . They assume the traditional way of doing things is the right one , and that their bigger scale will continue to do the trick . Certainly , with bigger size come some efficiencies , but size can also create complex , costly and slow corporate structures – the opposite of agility .
The way forward
My money is on those companies who know which way the wind is blowing and are reforming their business models to change proactively with the times . These smaller , more agile companies have other disadvantages to worry about – without alliances , they risk being steamrollered by the bigger players .
So I come back to that statement at the beginning , which describes the way forward for remarketing . Or , to put that paradox in words once used to describe the job of a housewife : a remarketer ’ s work is never done .
ISSUE 36 AUGUST 2022 / WWW . AFMA . ORG . AU 7