The fallout around covid has contributed significantly to semiconductor supply problems around the world. Factory shutdowns and social distancing measures led to delays in production at factories that were already stretched.
Making matters worse, the pandemic meant hundreds of millions of people started working from home, and demand for tech such as laptops, tablets and smartphones (and let’s not mention internet services!) skyrocketed. This demand for more high-tech equipment led to higher demand for the semiconductors (chips) which allow it to function.
According to the Semiconductor Industry Association, sales of chips actually fell 12% in 2019 but were already growing (up 6.5%) in 2020 before rocketing by 30% between August 2020 and August 2021. And that level of demand is showing no sign of decreasing!
The value of semiconductors has historically been volatile, meaning manufacturers don’t want to over-invest in multi-billion-pound factories fearing demand will disappear and profits could collapse at any moment. That means the industry is now playing catch-up and chip shortages are everywhere.
For the first time in modern history, used car dealers actually saw the value of their inventory rising day after day. This is all down to the huge shortage of new vehicles globally because a lack of semiconductor chips! New vehicle manufacturers are having huge difficulties keeping up with demand and lead times for new vehicles can stretch to months as a result. Any cars that become available are snapped up in an instant which is leading to consumer frustration.
Lack of availability, having to move fast to take advantage of any stock (whether new or used) means acing client engagement has become even more important for care sales organizations today than ever before. Loyalty is under serious pressure like never before because if somebody needs a car urgently they now won’t necessarily just be able to go to their usual company. Keeping your clients informed is now of existential importance to so many car related businesses and two-way conversational messaging is key.
Consumers want to have conversations with those who provide goods and services and their familiarity with the world of SMS text messaging and chat apps in their daily lives means that if businesses are not using these channels when they speak to people, they’re really going to be losing out.
Research has shown time and again that the thing most valuable to consumers across the world is something so basic, something too many providers overlook or ignore. And that is people’s time. Whether just a perception or not (there are conflicting opinion on this one…), people FEEL busier today and that is what counts.
For so long it was a case of emails or phone calls taking the strain but the urgency text messaging drives in unparalleled and once somebody in the car business picks up on this, there is just no going back. Just think yourself how you react when you receive a text message. We bet you can’t stop yourself from picking up the phone and checking out the message following that beep or flash! And you are not alone.
Practically every SMS successfully delivered to its intended recipient is read (98%) and that is done for the most part in less than 90 seconds. The percentage of emails ever read by their recipients is but a fraction of this (think of the huge inboxes many have with literally thousands of messages languishing in them) and those that are do not tend to be approached with a time-sensitive attitude by their intended targets.
If you have an urgent update about a vehicle’s availability or need an instant response on whether a potential customer really is still interested in a vehicle then we strongly recommend you text your clients. Whatever the use case, SMS and chat apps such as WhatsApp, Telegram or Viber can be used to great impact across your business. And one more tip: don’t forget how useful these channels can be for your own internal communications with team members and other stakeholders across your business too. This is something often forgotten.
Here at Intis Telecom, we’ve now been in the Messaging business for getting on for 3 years and we know just how important consumer trust is. Our SMS messaging solutions make it really easy for you to send your customers content rapidly and accurately. Business messaging is our focus and our cost effective, intuitive solution allows you to get on with doing what you do best – treating your customers with exceptional care, as individuals.