By now, many of us understand how artificial intelligence is used in everyday life, from Netflix recommendations to Siri to music suggestions on Spotify. In the auto industry, AI plays a vital role, but when it’s combined with human intelligence, sales can really take off. With the effects of COVID still lingering, decision-makers need to start shaping their own future. Here’s what we mean:
Auto Industry Leaders Should Embrace AI
Businesses of all kinds have embraced AI, but its adoption has been slower in the automotive industry. Tech-powered tools exist for every need, from customer acquisition to retention. Those who adopt AI can be sure they are putting themselves ahead of their competitors.
Being able to spot business opportunities from untapped markets is one of the key things AI can do for you. You might be relying on data mining right now, but AI goes so much deeper than that. A good tool will be able to go through tons of data and pick out potential customers who have shown intent to purchase. This type of advanced insight lets sales teams pursue the most viable leads and close more deals.
Redefine customer service
Tech can be used to enhance the customer experience across all levels. The entire sales funnel presents an opportunity for optimization. Shopping for a vehicle takes less time today, but many consumers still have issues with the process. According to Cox Automotive, car-buyers who spend less than two hours total at the dealership are notably more satisfied with the buying process than those who spend more time. AI tools can help cut down time spent at the dealership by personalizing the customer journey.
Instead of creating ads that are served to entire demographics, you can focus on stronger target marketing. In turn, you can make your marketing efforts more effective. If a current customer of yours is expecting a baby soon, wouldn’t it be great to offer a deal on a new family vehicle? This is what personalization means. You take the guesswork out of marketing and approach customers strategically.
The sales force of the future
Tomorrow’s sales teams are efficient, agile, and can adapt quickly to changing situations. Adopting AI-powered solutions will not only help your bottom line, but will help you cultivate a new work culture. Powerful tech tools can reduce many of the pain points your sales team encounters.
With the right vendor partners, your team can become a well-oiled sales machine. In 2018 the dealership turnover rate for sales people was a whopping 67 percent. With so many changes, dealership managers need to determine the best way to reshape their teams. Do larger teams perform better? Or is a small team with the right AI tools actually more effective?
Transform the auto industry
With the effects of COVID still lingering, adopting AI now will ensure you’re prepared for this crisis and the next. You have a lot to handle throughout the day. Combining AI with human intelligence will revolutionize your sales process and help you create a sales team that is nimble and efficient.
FunnelAI gives teams the ability to find open-minded customers from new markets like Reddit, online forums, and discussion boards. You can also improve customer retention rates with our Journey tool that allows you to nurture relationships with your customers. It’s one place for all your prospecting needs. Email us to schedule a demo! Follow us on LinkedIn and Twitter to stay up-to-date on all things FunnelAI™!
