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Auto Tech Outlook | Monday, June 15, 2020
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Artificial intelligence can serve all businesses regardless of their size and can be incorporated into their strategies.
Fremont, CA: AI is seeping into every sector, and the automotive industry is no different. AI-driven applications are transforming the way the automotive industry engages with online consumers. Businesses with a vision have deployed AI and are experiencing its benefits, such as an increase in revenue, and more. However, the companies must focus on the right applications that help grow the service business. This indicates that the organizations have to move away from traditional customer acquisition methods and embrace new technology apt for meeting the needs of modern-day consumers. Regardless of factors such as operating hours, devices such as desktop, tablet, or mobile device, or when consumers are engaging with businesses online, AI-powered digital tools can take actions. These factors can help serve digital consumers as they strive to get personalized information to meet their individual needs, and they expect it without delays.
Artificial intelligence can serve all businesses regardless of their size and can be incorporated into their strategies. AI will contribute to increase service revenue by turning online visitors into paying customers even though it is a single location independent repair shop, a large regional business or even national chain, or multi-location operation. According to a study done by Forrester Consulting, 76 percent of companies experienced higher revenue growth as compared to the previous year.
In the automotive industry, customer satisfaction is as important as profitability. The automakers have to ensure that the customer journey from start to finish is seamless, which helps in converting website visitors into lifelong customers. Thus, automakers need to introduce their service business to online visitors with an exceptional web experience. Adding the right online digital tools requires strategic thinking and a deep understanding of the customer. However, knowing the audience is not enough; the businesses must understand what their audiences are struggling with and what they need. On the other hand, auto repair shops struggle with getting information that is personalized and relevant to the customer’s needs.
When an auto repair service provider uses an AI-powered virtual service advisor, they experience benefits such as instantaneous response to customer queries; the tools are easy to use, and it saved a lot of time. Further, the tool can multitask; it is available 24/7. An AI-powered virtual service advisor is essential for automakers and repair shops as 52 percent of US adults are most likely to abandon their shopping cart if they cannot find quick answers to their queries. Moreover, 30 percent of auto repair customers engage outside of regular hours of operation. Lastly, 85 percent of consumers will engage with businesses without interacting with another human being shortly. The increase in customer demands and their need for an instant and personalized experience indicates that the organizations that do not adopt AI in the near future may lag as compared to their competitors.
See Also :- Top Automotive Tech Companies