If you are a supplier in the $30 billion automotive specialty-equipment market, it is important to have a complete understanding of why standardized, well-distributed product data is critical to business growth. The bottom line is to sell more parts, right? Well, in this age of instant information and aggressive competition, it’s going to take more than “the way we’ve always done it” to succeed. Consumers are becoming more and more accustomed to having information at their fingertips, and the competition for their money is tougher than ever before with the myriad choices available.
Fuel for the Retail Sales Machine
Think about the last time you wanted to make a significant purchase. Did you do any research, or did you just run down to the nearest store and pay whatever price they were asking for the item?
On average, more than 80% of consumers research products before buying. Many of those purchases happen in brick-and-mortar retail stores, and many happen online. The point here is not where a product is purchased but rather how the buying decision is made. You can’t do research without product information, right?
Bettering Your Business With Apps
The words “there’s an app for that” have become somewhat of a cliché—and with good reason. Not long ago, many businesses pursued mobile applications mainly as a gimmicky exercise in marketing. Having a cool branded game or similar whiz-bang app was considered a trendy way to burnish a company’s image with smartphone and tablet users. But times are changing, and the world of apps is maturing.
The Science of Standardized Product Data Management for Manufacturers and Re-sellers With SEMA Data Co-op
Jon Wyly was named chief executive officer of the newly formed SEMA Data Cooperative (SDC) in March of 2012. His career in the specialty parts marketplace spans 30 years and has included key roles in sales, marketing, e-commerce, business technology and data management. A lifelong automotive enthusiast, he is well known in the industry, having worked for 25 years at Arrow Speed Warehouse and, more recently, at Keystone Automotive.
As the co-founder and current chairman of SEMA’s Business Technology Committee (BTC), Bob Moore is also a tireless advocate for the use of standardized data and building a shared data system. He has been working in the automotive aftermarket since 1976 and is a partner with Jerry McCabe in J&B Service, a consulting company that specializes in the automotive specialty-equipment market. Moore is a member of the SEMA Board of Directors, serves on its executive committee and serves as a volunteer for a variety of industry organizations. He spent some time with SEMA News recently to discuss progress the association is making with respect to business technology.
Business technology is in a constant state of evolution, and it can be a maddening chore to try to keep up. It seems that every innovation begets an even newer version only a few weeks later. In some cases, the latest gizmo is only a marginal improvement on what went before, but there are significant trends and tools that simply cannot be ignored. In some very tangible instances, a company can be left behind while its competitors employ technological tools to expand and improve.
As part of our annual look at where automotive technology stands, we recently engaged in a wide-ranging conversation with John Waraniak, SEMA vice president of vehicle technology, delving further into the four advanced vehicle technology megatrends: driving green, driving connected, driving safe and driving cool.
SEMA News: What are the latest advances in electronics, including entertainment, navigation and interactive car-to-car and car-to-infrastructure systems?
John Waraniak: Vehicle electrification, electronics integration and connected-vehicle technologies are leading the way toward the development of cars that don’t crash, devices that don’t distract and powertrains that don’t pollute. Automotive technology has extended far beyond the vehicle itself. Onboard vehicle technologies combined with vehicle-to-vehicle and vehicle-to-roadside technologies are creating many new and exciting product and service opportunities for specialty-equipment and performance aftermarket manufacturers, installers, retailers and distributors.
Designing new specialty-equipment products is a laborious, time-consuming procedure, and time is not a friend, as manufacturers will attest.
Keeping with the theme of trying to do more with less, SEMA’s Business Technology Committee (BTC) is sponsoring a track of seven seminars at the 2009 SEMA Show that will help your business do exactly that through the use of technology and quality product information.