DEALERSHIP ARTIFICIAL INTELLIGENCE IS YOUR CAR-SELLING REALITY

Some tools can help you be slightly more productive, and then some can radically change how you do business, like Artificial Intelligence. Artificial intelligence (AI) is everywhere, but it has been building for decades to reach its current saturation and accessibility. When fully implemented, AI changes how leads are generated, marketing is targeted, inventory is selected, and other dealership decisions are made. While AI might not be something your customers notice, it will affect your team’s day-to-day operations and success.

The Difference Between AI and Machine Learning (ML) 

Before we dig into how AI can help grow your dealership, here is a brief definition of artificial intelligence and machine learning, as these terms are often used interchangeably.

ML is how machines achieve AI without being explicitly programmed to do so. That is, instead of humans entering long lines of code, machines “learn” by being fed large amounts of data and recognizing patterns.

Dealerships are a prime environment for putting AI into action due to all the data available via the DMS, social media, the internet, etc. The more data, the faster its learning capabilities and goals are reached.

Many dealerships declare that they have AI built into their platforms and solutions. However, AI is so overused and covers such a broad range of capabilities that it becomes challenging to discern the genuine AI-driven nature of every platform.

Powerful AI Needs History & Accuracy

Knowing your customer better than the competition requires powerful Machine Learning and Artificial Intelligence. This does not come overnight. The longer the data has been collected, analyzed, made actionable, and interpreted, and the cycle repeated, the more powerful it is. So, the older the original data, the more knowledgeable and accurate the information it relays.

In more technical terms, a platform needs to be able to:

1. Handle large amounts of newly created data
2. Increase the amount of data exponentially
3. Analyze the diversity of the data
4. Take into account the timeliness/context of the data
5. Determine that the measurements of the data produce something valuable

You can compile and process large amounts of data on your customers and the data’s interactions beyond rules-based systems. This allows you to make better predictions and meet your customer’s needs today and in the future.

How AI Helps Build Customer Retention

AI can help us learn what we’ve always wanted to know about our customers: what they wish, what action they’re ready to take, and what they want to spend.

The analysis of millions of data points on customers improves your odds of being successful. Having all that data, along with personalized deals for every customer generated from it and available in a centralized location that’s easy for staff to access at all times, makes it genuinely actionable.

Dealership AI enables precise customer targeting for profitable key trades across all touchpoints. It brings customers back into the sales pipeline or targets those in the market, providing personalized assistance through AI-driven service handholding.

Advanced AI algorithms perform enhanced data mining, creating hyper-personalized offers by integrating DMS data with competitor-inaccessible information. This includes tapping into ordered customers with factory warranties, giving a unique market advantage.

Automotive AI facilitates team-customer engagement on any topic, from service needs to special offers. It automates complex tasks, allowing focus on meaningful customer interactions. Imagine AI-driven campaigns where every communication is intelligent, personalized, and strategically advantageous in the competitive automotive market.

While automation handles routine tasks, staff members provide personalized assistance, ensuring no customer is left behind. The combination of AI-driven outreach and human touch creates a comprehensive strategy for service reengagement.

AI has become a crucial component of relationship-building in a dealership setting and what customers have come to expect. That immediate resolve can make a big difference for that customer and the dealership’s reputation.

Don’t Take a Back Seat to Innovation

Many dealerships are still weighing the benefits of investing in AI technology. This may be partly due to dealers still believing that AI is a foreign concept or not being sure their dealership will benefit. But AI is currently changing the way cars are sold.

In reality, AI and automation have already hit the point where it not only simplifies the dealership business as a cost-effective solution but creates opportunities that would otherwise be missed.

The dealers willing to put aside the old ways of doing things found that an open mind, coupled with some patience and input from their team, allowed them to gain a competitive advantage.

As AI grows exponentially, the potential for enhanced problem-solving across various aspects of life becomes increasingly evident. AutoAlert, recognizing this trend, embraced innovative practices early on, positioning its technology as a powerhouse for dealerships.

With over 23 years of continuous cutting-edge practices, marked by constant improvements and a touch of patience, AutoAlert stands ready to empower your dealership for optimal effectiveness and success in the current market climate.

Embrace the future with AutoAlert’s advanced AI solutions, paving the way for sustained excellence in the automotive industry.

Learn more about AutoAlert’s 23 years of data perfecting and how our AI can rocket your dealership to the top.