Does your CDP talk to your CRM? Can AI help your ROI? What KPIs should you look at?
The future of dealership operations is data-driven, and mastering AI, customer data platforms (CDPs) and advanced analytics is no longer optional. On this episode of NADA’s podcast Dealer Driven, NADA Consultant and Digital Analytics Technical Specialist Jim Dodd joins us to break down how dealers can use these tools to improve customer experiences, tailor marketing, streamline operations and gain a competitive edge.
AI is able to learn about consumer behavior. And when that consumer behavior can be brought in to create predictive models, then the engagement with the consumer can be that much better. And it can be at the point in time in which the consumer is ready for that engagement.
“And that's, I think, going to be the relevant KPI [key performance indicator] to start tracking,” he says.
Imagine this scenario: a customer—we’ll call him John—goes to your dealership’s website to schedule a service appointment, but halfway through John abandons the scheduler. The CDP recognizes John as a previous customer and contacts him via text (his recorded preferred method of contact) and asks “I noticed you were looking to make an appointment. Is there anything I can assist with?” And AI helps him schedule the appointment. This took zero staff time and saved you from possibly losing the customer to another service provider.
Dodd also outlines some important points that warrant consideration before implementation, including:
- How do you envision a CDP working in your organization? Are they a single point or at multiple locations?
- The need to have a team dedicated to the development and management of a CDP and AI
- The methodology in which you're going to look at identity resolution
He points out that the speed at which technology is changing is increasing every day. His advice: get out of your comfort zone.
Learn how to smoothly implement these new advancements and avoid potential potholes by listening to this episode of Dealer Driven today wherever you find podcasts.
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