We live in a world full of technological widgets. There are as many “solutions” out there as there are potential challenges, and not all of them are created equally. In automotive retail and other industries, many of these solutions deliver up fancy-looking bells and whistles that lack meaningful insights. So many technology solutions today make the path to action unclear.
When you think about it, this clear path to action is what makes a tool valuable to your dealership. Is the most valuable part of your CRM the backend technology that fires automated tasks? No, what makes a CRM valuable to a dealership is the clear guidance on what action to take next to improve your likelihood of a sale.
CRMs have been around a while, but the same logic applies to newer technologies like artificial intelligence. A good artificial intelligence tool doesn’t just look cool; it provides you with the real, meaningful insights that help do things that improve results. Here’s a few key criteria to keep in mind when evaluating if your technology helps you take action.
Any manager knows that customer data is everywhere, but with so much out there, it can be hard to make much of any of it. A good artificial intelligence tool serves up easy-to-access info on activity in your software systems, so you have visibility into what is going well, what could be going better and what isn’t going at all. The enhanced manager dashboard in Connect Automotive Intelligence does just that, giving managers a quick, high-level summary of where customers are in the sales cycle so they can help guide salespeople on what do next.
Visibility is a good first step toward action, but prioritization is also critical. There will always be more opportunities than there is time, so a good artificial intelligence solution will help prioritize which opportunities might be best to act on. Take the Buying Signals feature in Connect Automotive Intelligence as an example. Using customer data from Kelley Blue Book, Autotrader, Dealer.com and Connect CRM, Connect Automotive Intelligence indicates which of your leads are most likely to be ready to buy and serves that information up quickly in the manager dashboard. In fact, consumers classified as “ready to buy” by Connect Automotive Intelligence were nearly 8.2 times more likely than the average consumer to purchase within 30 days.
You can see opportunities, you know which ones to act on, but do you know what to do? The third consideration when evaluating how actionable an artificial intelligence solution is specificity. Knowing which opportunities to act on won’t help you much if you don’t know how to act on them. The right artificial intelligence solution can tell you not only when customers are ready to buy, but also what they are ready to buy. For consumers classified as “ready to buy” by Connect Automotive Intelligence, preferred brand was predicted for 91% of sales and preferred model was predicted for 51% of sales. The interactive manager dashboard helps increase productivity by enabling managers to review individual opportunities and quickly understand what path the customer took on their journey – making taking action easier and faster.
Artificial intelligence tools that give you visible, prioritized and specific insights can help your team take action that drives success. Learn more about how your dealership can benefit from AI and schedule a demo of Connect Automotive Intelligence at AImyths.com.