vRM (vehicle Relationship Management)

Vehicle relationship management (vRM) is a means to use data generated from embedded in-vehicle telematics systems to re-define the customer relationship between a vehicle owner and the owner's carmaker and dealer. This ability to tap the vehicle for real-time data offers potential to provide both OEM and dealership with enhanced customer retention and brand loyalty, increased revenue, greater lifetime value of customers, and cost reduction. vRM also involves the return on OEM investment in telematics hardware than currently provided through telematics business models based solely on the sale of annual subscriptions for location-based services.