The combined capability of AI, Big Data, and machine learning can analyse large volumes of data based on predetermined parameters and correctly target qualified prospects who are most likely to buy. Consumer preferences are tracked by the AI system, which then alerts them to businesses that can meet their needs. Toyota, for example, uses AI and machine learning to better cater to client preferences by matching brands, models, and incentives to each customer's wish list. The dealership increased revenues by 150 percent as a consequence of the individualised client experiences established through digital interaction.
Indian businesses have also jumped on the AI bandwagon. For its connected automobiles, Tata Motors employs Microsoft Azure Intelligent Cloud for enhanced navigation, predictive maintenance, remote monitoring, and AI innovation. Mahindra & Mahindra's spare parts stocks are also optimised via AI-enabled dynamic segmentation.
Social listening's advantages and the importance of a solid CRM platform
Using technology to make sales or production easier isn't enough. A user-friendly website and a strong social media presence are more vital than ever in this day. The importance of omni-channel experiences cannot be overstated. Customers demand a consistent, unified experience across all channels.
A holistic customer experience management platform can enable more personalised conversations, to create an overall increase in the customer lifecycle, with in-depth insights about consumer behaviour and market trends. Automakers also need to track metrics such as test drive conversion ratio, booking ratio, net promoter score, and customer lifetime value. These indicators help quantify customer satisfaction levels, so that teams can make data-driven decisions and be responsive to customers in a timely manner. Moreover, with CRM integrations, auto brands can quickly launch digital properties to capture leads, and create greater opportunities for cross-selling and upselling. From there, the leads can be passed on to a call centre and then a local dealership for follow-up. With a single unified digital solution, dealers can smoothly extend the customer journey that began on the automaker’s digital properties.
With in-depth insights into consumer behaviour and industry trends, a comprehensive customer experience management platform may enable more customised discussions, resulting in an overall rise in the customer lifetime. Test drive conversion ratio, booking ratio, net promoter score, and customer lifetime value are all measures that automakers must keep track of. These metrics help teams measure customer satisfaction levels so they can make data-driven choices and respond to consumers quickly. Furthermore, with CRM connectivity, automakers can quickly establish digital properties to gather leads and increase cross-selling and upselling prospects. The leads can then be forwarded to a call centre and subsequently to a local dealership for follow-up. Dealers can seamlessly extend the customer experience that began on the automaker's digital assets with a single unified digital solution.
Customer relationship management and corporate performance management may both benefit from social listening solutions. Twitter, Facebook, and other social media platforms are inundated with useful client input. Following up on these remarks and learning from them is a smart lead generating strategy that car companies may use. The software also aids in brand analysis, benchmarking against competitors, discovering new market prospects, and dealing with consumer complaints, among other things.