Hyundais and Kias are much easier to steal because they left out a really important feature.
This is a great lesson in what can happen if your product doesn’t include key features that your customer is expecting.
Article – https://fortune.com/2022/09/22/hyundai-kia-cars-stealing-hack-thieves/
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Hey, folks, Sean here.
And today what I want to talk to you about
is how to ensure that your product is meeting minimum
expectations with your customers to deliver the right experience.
And this is a story that comes from
a growing social media trend where Kias and
Hyundai vehicles are being stolen and joyrided because
they’re missing a key antitheft device.
The antitheft device that’s missing from Hyundai and
Kias is referred to as an immobilizer.
It’s essentially a chip that matches your
car, is key to your ignition.
If you don’t have it, it makes
your car ridiculously easy to steal.
Now, this is super embarrassing for Honda and Kia,
and one of the most embarrassing elements is that
most immobilizers were rolled out to most passionate vehicles
back in the 1990s, nearly 30 years ago.
And what this means is that Kia and Hyundai
owners were expecting it to be included as well.
Pretty important feature, you might add.
Really changes the experience if you don’t have it.
So, in terms of what the usage and the
inclusion of this feature looks like across other vehicles
and essentially who Hyundai and Kia are competing with,
over 96% of passenger vehicles have this immobilizer installed.
The vast majority of Hyundai and
Kias do not, dramatically changing the
ownership experience, as you might imagine.
So let’s talk about the impact that missing.
This key feature causes owners of these
vehicles and the company as well.
So, from the ownership experience, it’s probably
relatively obvious because this key antitheft device
is not included in these vehicles.
They’re being stolen at nearly twice the rate of
the national average, and it’s all over social media.
So the problem will probably continue to get worse.
Making matters worse, it’s not really an
easy thing to retrofit because they’ve missed
this key feature and include some hardware.
So you’ve got tons of vehicles out on the
road that all need to be fixed and are
all subject to being stolen at the moment.
So the whole thing has just become such a mess.
Now, I’m sure that some part of the
decision was in terms of cost savings, right?
However that’s led to this disaster.
So was it really worth it?
More than likely, no.
And I’m sure if they could take
that decision back now, they would.
But that’s not you don’t really
get credit for that, right.
What you should be doing instead.
And this is me getting around to talking about
what this might mean for you and your product
company and make sure you don’t wind up being
or experiencing some equivalent of this disaster than Honda
and Kia is going through.
Is to ensure that your product essentially has a key
set of features that your customers have come to expect.
Now, what do I mean when I say that?
Well, this is when they’re obviously expecting.
Now, when people are searching whether or not to
purchase a particular vehicle, I’m sure they’re not asking
whether or not the vehicle has an immobilizer included
or antitheft device as specific as that. Right.
They want to make sure that
the car isn’t easy to steal.
That has become an expectation
over the course of decades.
As in, it’s just assumed that it
will be included in most product experiences. Right.
So they would hope that they wouldn’t necessarily need to
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verify that, but apparently you still might because Honda’s and
Kias for the most part don’t include them.
But that should be incorporated in a minimum
set of expectations that your customer is going
to get when they’re using your product.
Because like I shared already, greater
than 96% of vehicles have them.
So if yours doesn’t, that causes a potentially huge
issue for you if and when that impact like
we’re seeing now really starts to come to light.
So if your product is not including minimum set of
features like that, it could ruin the product experience and
it could cause untold amounts of brand and reputation damage
not to even include what it’s going to cost them
from an insurance perspective if there’s legal action and all
this other kind of stuff.
I mean, so what might this look like if you
have, for example, like a B2B SaaS software product?
This is the equivalent of not having
proper authentication, storing passwords and clear text.
Any of these things that can cause
you significant liability if they come to
light or you ultimately get exposed. Right.
There’s a minimum set of expectations for the type of
experience you need to create for your users and your
customers and it’s something that they’ve come to expect.
If you’re not meeting those minimum expectations,
it could be glaringly obvious that they’re
not going to be interested in doing
business with you or purchasing your product.
That’s one problem that comes out of this.
Or if it ultimately comes to light that whatever it
is that you’ve left out of that experience ultimately has
caused major issues for customers and other users, then that
brand and reputation damage is potentially going to affect who
purchases your products in the future.
Like for example, here, which is a question I have for
you is would this issue with Hyundai and Kia prevent you
from purchasing one of their cars in the future?
I know it would affect my buying decision because and
immediately where my mind goes if they’ve left something like
this out to try to cut costs is what else
are they leaving out of the equation?
Do I have all my airbags?
Is the structural integrity of this
vehicle like sound and Safe?
I have other concerns if they’re going
to leave out something so glaringly obvious.
So the lesson here is to make sure that
your product includes a minimum set of features to
meet expectations for your users and your customers.
Especially if those features are something that are
very important to your users and customers and
it’s something they’re going to use rather frequently.
Plus if it’s offered by all of your competitors,
but you are missing it in your product, that’s
going to cause a lot of trouble for you.
That could turn into a disaster that
it’s been for Honda and Kia.
But more than that, is it’s
ultimately going to potentially prevent them
from purchasing or using your product?
Because you don’t have those key features.
So you don’t want the brand reputation, you
don’t want to incur anything anywhere near what
Hyundai and Kia are going through.
That risk is just too high.
So you need to ensure what those minimum expectations are
so that you can meet them in your product experience
and then you can build on them from there.
Thanks for watching and I hope you got value out of it.
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And please in the comment section below.
I’d love to hear from you in terms of whether
or not Kia and Hyundai leaving out this key feature would
impact your decision whether or not to buy these vehicles
in the Future.