In follow-up to our first blog in an unfolding series, "Headed Down the Path of Digital Transformation? Start Your Journey at the End - Where [Our] New Tech Begins.", we've been walking down the road of what we've coined the Path of Technology, stopping at each of the 5 various data milestones with tech currently used in the automotive retail sales and customer experience. Here, we tackle the truth about artificial intelligence (AI).
What is AI?
Artificial intelligence involves a computer being able to do any task that requires human intelligence for it to be completed such as visual perception, decision making, speech recognition, translation between languages, and much more as technology continues to advance. The main goal of AI is to mimic human cognitive activity. Artificial intelligence is a big innovation for the technology world.
AI in Automotive
In the automotive industry, how does it help dealers make automotive sales? It does the same thing. Information is put into a machine that takes algorithms, predictive modeling, and lots of data to try and figure out where the customers are at and broadcasts out the message it decides you should be communicating to them. Unfortunately, AI alone still has a hard time identifying exactly where the customer is in their lifecycle, what vehicles they are actually looking at, follow the path of where they have gone, or analyze what you need to do now to retain their business.
Simply put, AI does not allow the consumer to drive the behavior of marketing.
Consumers are increasingly expecting companies to personalize content specific to them. Not only where they are now...but also in answer to their future needs. Personalization allows your company to build a relationship and connection with your customers. It does more than strengthen relationships, it generates revenue.
According to a study by Monetate, 79% of retailers and 75% of general businesses report ROI from personalized marketing.
Artificial intelligence combined with predictive technology can only make suggestions based on the past. All individuals are different and have different wants and needs. There is no reason to guess when you can know. AI can only make assumptions, and we all know what making a wrong assumption can do. 3 Birds can help you personalize and generate revenue by knowing your customer, where they are at in their journey, and how to retain them.
THE 3 BIRDS WAY
At 3 Birds, we have implemented the 'holy grail' of marketing tech. Our benchmark technology focuses on the individual rather than targeting entire demographics or locations through predictions. Our BlueSky Dashboard allows your dealership to see where your consumers are in their customer journey. With this knowledge alone, you know if you need to promote new cars, leased cars, maintenance, or really anything else.
With all this being said, it does not mean AI is not beneficial and that we do not use. It cannot be used alone and should not be your main source to marketing to your customers. Humans are irrational and AI cannot predict their behavior. In combination with our comprehensive customer experience data platform, you can start a digital transformation at your dealership from the point where our new tech begins. There is no reason to backtrack with technology that is over two decades old. Let us help you unearth more untapped opportunities, discover new prospects, and optimize the customers you already have.