Car manufacturers once competed largely on their engineering capabilities: superior driving performance and reliability were their marketing boasts. These qualities still matter, but they are table stakes. The new battleground is customer experience.
In a world of electric, connected, and autonomous vehicles, OEMs face a considerable challenge if they intend to keep pace. They will need to rapidly discover, design, scale, and constantly refine solutions that thrill customers, generate new sources of revenue, and keep costs in check – an approach honed by leading customer-centric companies.
Leadership from the CEO and a chief experience office will be key to establishing the components of a transformation: a new business model, and the ability to scale fast, to amass data at every customer touchpoint, and to measure the customer experience in a manner that reveals precisely how to improve it.
Read the article at McKinsey & Company.