MISSION, Kans. – VinSolutions is introducing new personalization capabilities at NADA 2020 that will help dealers unlock data potential to help win customers and drive brand loyalty like never before. As technology adoption increases across industries and generations, consumers have developed a taste for personalization. The car buying journey is no exception, and with much of it being spent online, dealers are presented with an opportunity to harness the power of artificial intelligence (AI) to make valuable connections through a personalized experience. At NADA, VinSolutions will debut its Automated Offer capabilities and showcase new enhancements to Connect Automotive Intelligence, including a robust manager dashboard and a preview of upcoming Customer Enrichment features.
By taking advantage of AI and automation for personalization, dealers can create an early and lasting advantage over their competition by recommending inventory and options that improve the car shopping experience.
“Our research continues to show customers expect their dealer to have an understanding of their needs well before entering the dealership,” says Lori Wittman, senior vice president of Dealer Software Solutions at Cox Automotive. “By taking advantage of AI and automation for personalization, dealers can create an early and lasting advantage over their competition by recommending inventory and options that improve the car shopping experience.”
Connect Automotive Intelligence Buying Signals are now easier to work into the CRM workflow. Salespeople and managers can more quickly create new sales opportunities based on the AI predictions and put those leads into their normal and custom follow-up processes. Additionally, the enhanced manager dashboard in Connect Automotive Intelligence helps create more senior level visibility of customer buying signals and the customer journey to improve employee engagement and sales opportunities. The enhanced benefits of this product include:
- Higher Customer Awareness is just clicks away with buying signals generated by a combination of Cox Automotive in-store and online data that can help determine how ready a customer is to buy as well as predict information like price range, preferred make, model and body style.
- Shorter Sales Cycles are created thanks to the power of machine learning and AI, which can help dealers anticipate customer questions and concerns to more effectively sell to a customer through personalization.
- Actionable Insights and data mining opportunities are more easily identifiable from a single view display for managers.
- Attribution for AI opportunities is more visible with side-by-side comparisons of close ratios and profit between AI leads and non-AI leads.
In addition to the manager dashboard, Connect Automotive Intelligence is offering demos of its upcoming Customer Intelligence functionality at NADA which further personalizes the customer experience and maximizes deal-making. Customer Intelligence connects shoppers with the right inventory for them by integrating data from thousands of different data sources such as public information and specialty data providers.
- Precise Vehicle Matching powered by demographic and psychographic data, the tool analyzes lifestyle indicators that correlate with vehicle preferences to help salespeople recommend highly relevant inventory.
- Meaningful Upsell Opportunities can be better identified and executed thanks to a more acute awareness of customer lifestyle and vehicle needs.
- Potentially Close Deals Faster with more specific data about customer financials, attitude and lifestyle.
Moreover, at NADA dealers will be able to demo Automated Offers predicted by customer data that can drastically reduce the time it takes to manually create multiple offers per segment. This capability also helps dealers meet the customer expectation that an offer will realistically meet their needs, making it even more likely a deal will close.
“VinSolutions Connect CRM combined with Connect Automotive Intelligence helps us make our customers' experience better and more memorable,” said Scott Risley, Digital Marketing Manager, Mohawk Honda. “You can put the pieces of the puzzle together in a way that a salesperson, manager and BDC rep can all look at without needing to know how to use a specific tool. It is all right there in layman's terms.
The 2020 NADA Show will be held Feb. 14-17, 2020 at the Las Vegas Convention Center in Las Vegas, NV. To learn more about these new enhancements, visit VinSolutions at the 2020 NADA Convention and Expo, booth #2837C.
Originally posted on Auto Dealer Today