Media today is full of trumpeting predictions about Artificial Intelligence. AI and machine learning are hot topics as they promise to change the ways people work, play, interact, and shop. In the automotive industry, self-driving cars are the most covered topic. But what about automotive sales? New technology in AI and mobile connectivity are setting the stage for unprecedented growth in this field as well.
Car dealers today can reap the benefits provided by artificial intelligence in many ways. These new technologies enable dealers to better market their product, manage their staff, and create an improved customer experience.
AI provides personalization to better target customers based on their interests and needs. Relevant advertising is essential to developing good sales leads. Through the use of AI, dealers can reach the appropriate consumers based on their Google searches and location.
By employing AI's predictive analytics, dealers can attract potential customers not only to their website but to their dealership. Artificial Intelligence such as automotiveMastermind and eVe™ uses cutting-edge behavioral prediction technology and machine learning to maximize sales and service, as well as increase customer retention.
The "connected car" is gradually becoming a mobile data center. By taking advantage of in-dashboard connectivity, data collection, and analysis, car dealers can increase customer retention. By offering personalized and appropriate service reminders or customized offers for new vehicles, dealers become more relevant in consumer's lives.
Service departments are now able to use AI in the form of virtual assistants such as Conversica. This enables more efficient service scheduling, reduced wait times, and improves customer communication. Chatbots, if properly programmed, can provide valuable information and feedback to customers around the clock, without having to increase staff.
AI analysis of "Big Data" allows customers to find financing options most suitable for their situation. This makes for a smoother vehicle purchase and saves time for both consumers and dealers.
Given the advantages of Artificial Intelligence, investing in new technology will certainly result in increased efficiency and sales. A few years from now, we may wonder how we ever lived without it.