Car-buyers are telling you what they want and how to win their business. They’re leaving a trail of data online with every move they make. And nearly seven out of ten of them are even willing to complete some or all their purchases online.1 But the game is constantly changing and, frankly, more complex than just offering an online storefront. More and more data can be a problem, not a solution. So, how do you win in this constant game of ‘keep up’? Cox Automotive is delivering big this year. When it comes to Artificial Intelligence (AI) and automation, both dealers and consumers are playing by a new set of rules. Find out how to win with AI and better Automation with the steps below.
Meet Every Type of Buyers’ Demands—Everywhere
Your customers are definitely online, doing things like shopping, researching, and selling cars. But automotive retailers need to work on creating a smooth experience that combines online, in-store, and intermediary interactions. Again, the game has changed, and it’s going to take intelligent solutions powered by smart data to keep up. To be a successful seller, a profitable dealership, you must consider multiple scenarios. Recent market intelligence from Cox Automotive’s Evolving Consumer Study identified up to five macrotrends shaping consumer trends and, this is key, up to 80% of consumers predict that each macrotrend will affect the way they shop and buy vehicles over the next ten years.1 This means that there is no single car-buying model that stands out as the preferred method of shopping. Rather, you have to be prepared to deliver any and all options, seamlessly, for buyers who shift between online and in-store and everywhere in between.
Build A Mutually Beneficial Sales Experience
Creating a mutually beneficial car buying experience for both sales staff and shoppers hinges on the integration of intelligent technology that leverages AI-powered data. By utilizing advanced AI solutions, you can drive incremental deals and achieve faster close rates, ultimately enhancing profitability. This technology bridges the gap between the salesperson and the shopper, ensuring a seamless and efficient transaction process. It provides sales staff with real-time insights and data, enabling them to tailor their approach to each customer’s unique needs and preferences. For shoppers, this means a more transparent and streamlined experience, where they feel understood and valued. The result is a win-win scenario where both parties benefit from a more intelligent and effective car buying process.
Create Relevancy Beyond Sheer Coincidence
Cox Automotive leverages advanced AI technology and powerful first-party data insights to create highly relevant experiences for car buyers. By utilizing deep consumer insights, Cox Automotive can predict customers’ next moves and deliver personalized marketing messages and special-order parts notifications at the right time. In fact, since it’s all based on your shoppers’ online activity and exclusive data to them, they may even think it’s sheer coincidence. This approach ensures that car buyers receive tailored recommendations and information that align with their preferences and needs, enhancing their overall shopping experience and helping dealerships close deals more efficiently.
Hear what Chase Abbott, Vice President of Sales at Cox Automotive has to share about the latest innovation from Cox Automotive. Deal Central can facilitate the most important changes by helping dealers to be ready for every type of buyer, create a seamless process, use AI to build a better sales process, and automate the F&I process.
The automotive industry is changing fast, and dealerships need to keep up to stay successful. By using smart AI technology and understanding what customers want, dealerships can make car buying easier and more personalized. This means happier customers and more sales. As customers’ preferences shift, it’s important to have the right tools to meet their needs. Cox Automotive’s new solutions can help your dealership thrive in this ever-evolving market and ensure your customers have a great buying experience.
Learn more about Deal Central by Cox Automotive with a personal demo by visiting https://www.coxautoinc.com/retail/deal-central/
1 2024 Cox Automotive Evolving Consumer Study