Mastering the Art of Unsupervised Learning: Techniques and Guidance
Unsupervised learning, a cornerstone of artificial intelligence, has emerged as a powerful technique that enables machines to uncover patterns and insights from unlabelled data.
We may not be conscious of the fact that artificial Intelligence is engrained in our daily lives. In the era of internet, social media, and mobile apps, we see and experience AI at work. Seamlessly providing us the information we seek in all available channels and devices, curating content according to our preferences and searches, tempting us with ads and communications that feed our desires.
And there’s many reason why modern day auto dealerships should take full advantage of the benefits this technology has to offer as it has now changed and redefined the ways customers are engaged, acquired, and retained. Embracing AI now rather than later could mean better opportunities to covert sales, gain new customers, and improve after-sales service.
Adoption of Artificial Intelligence for auto dealerships can provide immediate and measurable return on investment. There are various opportunities how AI can be adopted into the marketing, sales, and operations of a dealership.
Develop Targeted Omni-Channel Marketing Communication
Make your customers feel your presence across all channels, providing them seamless opportunity to see what you are offering. Having targeted omni-channel presence means providing relevant information across the different online channels – website, search engine, social media, mobile, apps and more.
With artificial intelligence, use their current searches to activate promotions, communications and offers related to what they are looking for. With each interaction, let AI narrow down options to specific features, make, and model. Making visiting the dealership the last step to their purchase decision. By providing them relevant, consistent and timely endorsements you can help reinforce their desire for your product.
Create Personalized Customer Experience
AI has become a large part of the lives of today’s consumers that they expect a certain level of customer knowledge even prior to visiting the dealership. AI’s predictive and recommendation capability can shape your sales representative’s recommendation based on the customer’s interest from his marketing offer engagement, online searches, interests and purchase intent. This way sales can recommend particular vehicle make and model that match what they are looking for. As well as shortlist a number of alternative options based on the key criteria a buyer is looking for. Making each recommendation highly intentional and relevant.
Taken to the next level, having information on a customer’s historical purchase, financial history, budget, and preferred payment options can increase chances of narrowing down options for them as well as enabling convenient payment options that works for them. Personalisation results to better communications with customer and can contribute to nurturing long-term customers and brand advocates.
Accelerate the Purchase Path
Identify serious buyers from casual ones who are still looking around. Through AI gauge how close a buyer is to making a purchase. And let the sales team focus their energy and engagement to ready-to-purchase customers.
Instead of waiting, let AI identify these buyers and have sales reach out to them with proactive offer to you can get a head start and gain serious sales advantage most especially if coupled with personalised experience. Dealerships can also use artificial intelligence to collect customer information early on the buyer journey and get this ready when they are set to make a purchase. Making transactions easy, fast and convenient for customers.
For casual buyers or those looking around, continue to provide and feed personalised content and offers to help them with buying decision.
Improve Customer Service
Make service advisors establish personalised interactions with every customer. Through predictive analytics, automate tasks and provide regular communication with customers. Provide product updates, follow-up notes, and surveys to satisfied clients. Create follow through service communication, service recovery offers, and service improvement surveys to clients who have had issues with their purchase.
Nurture clients and strengthen relationship with appropriate and timely communication on purchase satisfaction, service reminders, and product updates. Automatically change and shift campaign for each customer scenario taking the next step for each customer information update, making planning easy and purposeful and cutting time tweaking and manually configuring future communication.
Drive Customer Engagement and Loyalty
Utilise analytics and artificial intelligence to listen to customer feedback and understand the sentiments and pulse of your customers. Through social listening, surveys, feedback forms and other relevant customer data, gain insight on your dealership’s strengths and areas for improvement. Understand customer pain points, recognise opportunities for innovation, and develop programs to reward customers.
Increase Cross Sell & Upsell Revenue
Equip your sales team with the right knowledge and tools using insights from customer information and data. Use their interest, purchase history, service schedules, and other relevant information to intelligently upsell or cross-sell products and services.
Notice how your favorite online shopping platforms show recommendations in the “you may also like” or “brought together with”? You can integrate the same principle in the dealership and recommend car upgrades, customisation, and more.
Digitize all touchpoints of the customer journey.
Customer data and information is key to all technologies. With every information gathered about the customer, the more leverage you have to deliver direct personalised, real-time, and automated communication to the customers.
Leverage on the wealth of insights from customer data.
Each interaction of the customer within the buying journey provide a minefield of opportunities for a dealership’s marketing and sales team. Use this to develop buyer personas, push personalised offers, timely service & product suggestions and more.
Test, Learn, and Improve.
The beauty of AI and machine learning is its ability to improve and continuously learn. With continued tuning, testing, and learning, AI recommendations can be more accurate, smarter and better. Paving the way for improved predictions and recommendation cycles.
To help you get started on adopting artificial intelligence for auto dealership, get in touch with our consultant.