Techies seem to have no end to the jargon and idiom they throw at the rest of us. So much so that I am beginning to think that there is a secret society that meets to coin words and phrases that are designed to mystify and confuse the rest of us.
The new one that is creeping into the aftermarket is “big data.” Big data was coined to describe a collection of data so large and complex that it is difficult to process it using available database management tools. I’m a bit mystified as to why we are seeing this term used in the aftermarket. I say this because I have yet to see any aftermarket company with anything approaching “big data.” On the contrary, the majority of aftermarket companies suffer from the opposite of big data – a data deficiency.
Consider some of our data-related behavior. We made the conscious decision as an industry to stop collecting and reporting POS data on hard parts. Many if not most aftermarket companies have their PIES fields populated with only a limited range of mostly “transactional” data. Channel partners' data warehouses are undersubscribed and even more under utilized. And most websites (trade & consumer) lack the product images and information to help a buyer make a smart purchasing decision.
For these reasons, I suggest that use of the term big data in the aftermarket is premature. Before we start talking about big data, we need to a better job with what little data we have now.
What do I mean? We need to concentrate on our “content.” As an industry, we need to put an all out push on gathering not just the transactional data to serve our “backroom” technology (EDI, catalog, weights and measures) but the sort of replete content that engages our customers and enables them to learn more about our products and what makes them unique.
What is content? Content is contextualized data. Data only becomes content when it is enriched by the context of other data that accompanies it. For example, the number 12 is relatively meaningless expressed by itself, but when it is accompanied other data like 12/25/2013, its meaning becomes clear.
Content is the essence of web-based marketing. It is the stuff that will power the use of tablets, smart phones, web searches and social media. It is to digital marketing what the “bold image and snappy headline” was to advertising of the last generation. And unlike creative, content cannot be manufactured out of thin air. There must be a rigorous methodology and process to collect, catalog and manage it.
In the aftermarket content refers to data that is contextually relevant to our customers (service centers or DIYers). We also have to include data that is relevant to our customers' customers (car owners). Our content should complement and enhance a customer’s understanding of parts or service. For a technician, it may accompany a Y/M/M look up in the form of a product description, a photo, perhaps a routing guide or schematic. For a vehicle owner it may be service reminders or special conditions unique to their vehicle based on its design or mileage.
In every case, replete content enhances the customer’s experience. Technicians have a better understanding of how and when to use a product. Car owners understand the criticality of a service or repair to the life of their vehicle. They potentially understand why one brand may be more appropriate than another.
According to a recent AASA study, in 2012 more than 50 percent of in-store purchases started with a web search for brand or store selection, and that number is projected to climb to more than 90 percent by 2018. With this level of consumer involvement we should expect to see more knowledgeable motorists with greater brand awareness and price consciousness. And that, more than anything I have witnessed in my 35-plus year aftermarket career, has the potential to change the brand decision-making process.
It’s 2013, do you know where your content is?
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