Importance of Artificial Intelligence in Auto Industry

AI is bringing transformation to the auto industry predominantly in autonomous vehicles, infotainment systems, virtual assistants, smart robotics in assembly lines and also in auto retailing recently. Adoption of AI in retailing fundamentally changes three major areas: the way people shop, the way that dealerships offer, and the way that moneylenders back auto buys.. Read More

Customer experience in dealer websites

The attention span of an average human is 8 seconds which is less than what a goldfish has. The proliferation of technology advancements in communications each day brings distractions quickly and making it more challenging for the marketers on how they do their business. People are tending to just scan through the content; not actually reading and impatient to get what they want.

According to Kissmetrics, 40% of people abandon a website that takes more than 3 seconds to load. People just leave websites if they don’t get the information in another couple of seconds.. Read More

Musings of a dealer guy

Yay! it's Saturday. Bob, Michel and myself like few others, are all geared up for our big sales day. We had done plenty of marketing and advertising campaigns while marching towards this day. Even then Labor Day creeped upon us pretty fast, sending us scrambling yet another year. We have more inventory than last year and sales have been down 2%. Need to line up the right incentives. It is time to roll up our sleeves and close lot of deals and let our CSI rip. It is Labor Day...

Every year, on the Labor Day, we have a tough time managing the large number of consumers pouring into our showroom looking for the best deal to buy the dream car and trade-in their old one. And we know that they may anytime cross the street and go to our competitor. Well, this time it was totally different... Read More

Automotive retail digital transition: are dealers ready?

Car buyers spend 60% of their time online and 56% of buyers agree that dealer websites influenced them to visit their dealership, reported in 2017 Car Buyer Journey study by Autotrader. They mostly spend time in researching pricing, compare different models, finding worth of trade-in car and financing options. A fast, no-pressure process, transparent pricing and low financing rates have the greatest impact on customer satisfaction.

2017 Digital Retailing Study by Cox Automotive urges dealers to focus on 3 important areas: Firstly, invest in online experiences - desktop and mobile; secondly, enable buyers to research prior to dealership visit and thirdly, when they’re ready, enable them to complete (all or part of) the transaction online. The key takeaway of all these studies is just one thing - customers are moving towards completely ‘digital’ and dealers needs to catchup their expectations... Read More

Making decisions with ‘GoGo’ - the virtual assistant

It's data, data everywhere! Usually firehoses of data. Sure, the Consumer is empowered but imagine getting hit by firehoses! Recent study shows that a car buyer makes 900+ digital interactions in his/her car buying journey. Oh My! Are they able to make the right decision at the right time? People may refer to this as information overload, cognitive dissonance, but the net result is either total confusion and delayed decision or more often a wrong decision. Need help or what?

How do we address this consumer pain point? One solution is to provide in-person support throughout the buying journey with right information at the right time. All those web chat services, FAQs and BDC people you will see in dealership sites. Sure there is attrition. Many need training, like yesterday. Sure you and I are passionate about cars. But not all! And providing 24x7 support is not a joke and costs lot of money! So how about a virtual assistant that can be there always, day in and out, totally trained, lives and breaths cars and can navigate through... Read More