For every car dealership that is using A.I., there are plenty of dealerships that are wondering what step one is, exactly, for taking advantage of this fast-growing technology.
In this GO AI blog, we cover the top four ways that car dealerships can benefit from A.I., which we will go into below.
A.I. In the Automobile Industry: A Closer Look
Artificial intelligence is revolutionizing industries across the globe, and car dealerships are no exception.
However, so many car dealership owners are out there asking “Where do I start?”
This is completely understandable, because the A.I. marketplace is flooded with automated tools, some of which are of higher quality than others.
And, to take things further, so many of us still do not know just how this technology works, exactly. Despite seeing it in action, like with ChatGPT automatically spewing out a bunch of written content based just on a short and simple prompt.
Breaking Down A.I. to Its Basics
Here is a quick explanation of just what A.I. is, and how it does what it does: Artificial intelligence is all about teaching machines (e.g., computers) to “think”.
Here, the analysis of input data and the formation of predictions about the data’s meaning drive the creation of output data, which is the solution to the problem that A.I. aims to solve.
In other words, it is not too different from how humanity does its thinking. We see something, we make a prediction about what it means, and then we act according to that prediction.
However, in A.I., the prediction often is the solution, and it is up to the human to follow through with the action. So, A.I. is mostly there to offer you insights into the best course of action.
Most A.I. comes in the form of computer algorithms, so that is pretty much like software that you install and run on a computer system. Though there are indeed A.I. robots out there, the vast majority of A.I. is intangible.
Now that you hopefully have a deeper understanding of this technology, let us take a look at three of the most useful A.I. solutions for car dealerships.
#1: Persona Modeling
For so long, the biggest challenge for the sales team on the floor of a car dealership was figuring out the mystery of just who they were selling to.
Market research is always helpful in outlining consumer behavior, but in this area A.I. has really brought things to the next level with automated persona modeling.
Persona modeling breaks down your customer base into several segments based on essential metrics like psychological insights and spending behavior.
This way, you can easily discover the likes and dislikes of your potential customers, which can not only be useful for online marketing, but in-person sales and customer service interactions as well.
#2: Price Prediction Software
Finding the best price for a vehicle is important for multiple reasons, as you already know. With just one price, you need to compete with other dealerships, attract customers who believe they are getting a good deal, and ensure that you are making a comfortable profit off of a sale.
A.I. price prediction tools are able to identify the best and most competitive price on the market, so that you can stay ahead of the competition while still making a great profit. Oh, and the customer will also be happy with the purchase.
#3: ChatGPT for SEO Content
This one won’t cost you anything, unless you choose to upgrade to ChatGPT Plus, which comes with various perks such as being able to train a chatbot on your company’s data.
Everything from posting blogs to generating website copy for a used car that you want to get on you site ASAP can be streamlined when you generate your rough first drafts with ChatGPT.
We put special emphasis on “rough first drafts” because that is how you need to treat ChatGPT’s output. Though the content is generated at record speed, you—or the marketing firm you are partnered with—are/is still going to have to fact-check and proofread the work.
This is because ChatGPT sometimes “hallucinates”, or makes things up. This is especially a concern when ChatGPT makes up untrue things about a car, such as claiming that it has a more powerful engine than it really does.
However, the chatbot is still useful for the sake of getting first-drafts of blogs that can go straight to the editing, rewriting, and fact-checking phase.
#4 HeyOrca’s Automated Caption Writer
If you schedule your social media posts through the social media scheduler HeyOrca, then you should consider using its caption-writing chatbot.
HeyOrca’s chatbot is specially tailored toward writing social posts, making it ideal for generating engaging posts about the latest vehicles to hit your lot.
This chatbot allows you to customize the response based on the tone and message that you are going for. This way, you can personalize the chatbot’s output to be consistent with your ongoing brand.
GO AI Articles
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