AI and current scenario in dealership sector
We are surrounded by AI, though we truly don’t acknowledge it. It has been used in commercial flights by pilots since 1900s, and we see it commonly being used for various activities such as depositing checks. With the evolving AI, several sectors such as automotive business are looking for greater assistance to bring more convenience. The AI in the dealership can be ground-breaking change as human interaction is prominent in this sector. However, automotive industry faces certain challenges that we need to take into consideration.
Challenges in the dealership business
• Increased Competition
Over the years the independent aftermarket chains have made their way into recession. Because of the increased sales of new vehicles, the vehicles operating for more than seven years are decreasing. This decline will continue until 2022 and the dealers cannot afford to lose the market to independent chains.
• Vast Data
One of the most critical questions for dealers is ‘Data’. Who owns that data? Who keeps it safe? Who uses it? Without proper integration, this data in your DMS will be of no use. For dealers, it is extremely crucial to take advantage of that by syncing it.
• Customers Expectations
Customers expect a transparent and convenient experience and only service management software enables this offering. Customers tend to shift to another if they are not happy.
How can AI help the dealership business?
To stay ahead of the competitors, the businesses need to embrace the digital transformation, let’s see how artificial intelligence can make the difference.
• Effective customer service experience
With small and steady steps, AI is helping the dealers to resolve customers’ problems. Starting from ‘Chatbot’ where customers can ask different queries and get it cleared in initial stages, saves a lot of efforts for dealers. Furthermore, the dealers are benefitted with AI installation in the calling system. It analyzes the call to understand the caller’s needs. AI plays a major role in post-sale experience and inventory. Also, the sales management software proves to be helpful in making this experience seamless.
• Focussed Marketing
AI can be instrumental where focused marketing is needed. The dealers can use programs to automate the emails to the targeted audience who are looking for a vehicle or speak to the customer service representative. The web analytics can show the ads to the targeted audience, which makes sales easy.
• Cyber Security
As the technology is an integral part of dealership business, it is also under a threat of getting hacked. The AI technologies can create sophisticated cyber security to keep the data safe. The customized AI technology identifies the cyber threats across the entire system and keeps valuable data safe. The AI technology built with superior machine learning can detect suspicious activity without having human interference.
It is quite evident that dealers face several problems, which in fact can be resolved. With NextGen software, the dealers can find a more convenient way of doing business. AI is next gen technology which will prove to be a boon to this industry.