ARTIFICIAL INTELLIGENCE
HOW AI CAN HELP YOUR DEALERSHIP MAKE MORE SALES
MARSH FINANCE LTD
Members Only
Artificial intelligence (AI) is set to shake up the car buying process. With AI at your side, get ready to increase sales and improve operational efficiencies across your business.
CHAMPION YOUR ONLINE OFFERING
Marsh Finance spoke to three of our partners, who overwhelmingly agreed that customers now favour online car purchases versus in-store, with some purchasing a car without even viewing it. AI can help you deliver on this rising customer preference, through fully automating the customer journey. Customers can engage in genuinely lifelike conversations with artificial intelligence through chatbots and virtual assistants, taking customer experience to unparalleled levels.
PREDICT CUSTOMER TRENDS AND BEHAVIOURS
The ability to meticulously track and decipher buyers’ ever-evolving patterns and behaviours, thus facilitating customer segmentations, serves as the gateway to unlocking unparalleled revenue growth and operational efficiencies. Simultaneous data analysis and tracking can bring vital information to car dealerships, which can be used to drive sales and inform future marketing decisions.
OVERHAUL OF YOUR CRM
Automation is the future, and AI provides the means to champion automation. Daily, it’s easy to feel overwhelmed with admin tasks. By adopting AI, you can create automatic replies to emails and automate operational processes. A survey undertaken by People.ai in conjunction with Harvard Business Review found that one company saw a 15% increase in bookings per sales rep after automating manual Customer Relationship Management data entry. Cutting through the manual processes and replacing them with AI could transform your business’s efficiency.
HOW TO GET STARTED
Here are some tips to get started with using AI in a car dealership:
- Define your objectives: Determine your specific goals and objectives for implementing AI in your dealership. Whether it’s optimising sales or enhancing customer experience, having clear objectives will guide your AI integration strategy.
- Assess your data infrastructure: Evaluate your existing data infrastructure and ensure it can support AI applications. Identify the data sources available, such as customer data, sales records, service histories, and website interactions.
- Start small and prioritise: Focus on a specific area where AI can deliver immediate value. Starting small allows for more straightforward implementation and showcases tangible results.
- Explore AI solutions and partners: Look for reputable vendors or partners specialising in AI for the automotive industry. Assess their expertise, track record, and the suitability of their solutions to your dealership’s needs.
- Train and educate your team: Provide training and education to your staff to foster AI adoption and ensure smooth integration.
Embracing AI is an iterative process. Start with small steps, learn from the outcomes, and continuously refine your AI strategies based on feedback and insights gained along the way.
