Conversational AI in the Automotive Industry

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Conversational AI is currently being used by numerous automotive dealers and dealerships when it comes to car discovery, lead generation, and more.

But how?

In this article, we’ll discuss how conversational AI is helping the automotive industry and reveal the most reliable and efficient AI solution for your company.

This Article Contains:

How is Conversational AI Helping Businesses in the Automotive Industry?

Here are some of the ways conversational AI in the automotive industry is improving things:

  1. Use Keywords To Spot Opportunities

    With conversational AI, the platform can identify specific keywords and phrases mentioned in the call, such as booking, service appointment, test drive, autonomous vehicles, an automotive brand name, or an automaker like Mercedes Benz, etc.

    For example, with iovox Insight’s keyword spotter, you can spot potential customers easily and dig deep into the preferences of automotive consumers quickly. All you have to do is feed the AI with the terms and phrases relevant to your business. When on call, the AI will spot when these phrases are mentioned to help your agents.

    This will also help you categorize your leads easily and forward them to the right departments or offer the right solutions.

  2. Spot Automotive Trends

    With a conversational AI solution, you can also spot large-scale trends in what automotive consumers are looking for.

    For example, if your recordings highlight that many potential customers are looking for convertible vehicles these days, you can adjust your listings and marketing strategy to prioritize that kind of car make. You can do the same if a specific automaker is highlighted.

    This way, the insights from conversational AI can help you and all your automotive dealerships directly boost sales too.

  3. Make Better Recommendations

    If a customer is interested in a specific vehicle, a conversational Artificial Intelligence tool can go over all the data to recommend the right one for their needs.

    Over time you can even train the AI technology to make suggestions whenever certain keywords and phrases are mentioned - thereby speeding up the process.

  4. Identify Upsell/Cross-Sell Opportunities

    In the event that a customer is interested in something that you can’t offer - such as “car financing,” conversational AI can immediately forward the call to a human agent who can help them when that keyword is mentioned. In the event that you do offer what they need, you can easily transfer the call to the concerned department.

    Through this type of cross-selling and upselling, you can drive revenue irrespective of what the customer is looking for.

  5. Can Boost Agent Performance

    Artificial solutions can analyze your recorded calls to help you review and collect feedback to analyze your shortcomings and strengths.

    Call recordings can also reveal how well your teams are performing. Moreover, you can play these recordings for new agents and use them as learning tools or as a script.

    Using recordings as a script can make it easy for you to train and evaluate your employees as you’re able to maintain a standard script for everyone. More so, these recordings will also help you confirm if your agents are following the script.

  6. Assists 24/7 and Enhances Customer Experience

    Conversational AI can offer around-the-clock, real-time assistance to your human agent or contact center team to help them quickly answer customer queries and FAQs — reducing the overall customer call duration and improving customer satisfaction and customer retention.

    Artificial solutions can even handle calls when your contact center or sales agents aren’t there by providing the customer or caller with the right prompts and redirects. This will eventually result in better customer satisfaction, thanks to quick and efficient customer support.

  7. Other Benefits of Conversational AI in the Automotive Industry

    Here are some other advantages that automotive companies can appreciate by deploying conversational AI solutions:

    • Cost Savings: Conversational AI can carry out automation of tons of things very quickly - thereby reducing your hiring needs and driving operational costs down when it comes to employee training and customer service.
    • Scalability: Since a conversational AI platform or solution can adapt with time, it’s easily scalable to whatever your automotive dealership or showroom requires.

Now that you know how conversational AI technology is transforming the automobile industry, let us show you why iovox Insights is the artificial intelligence solution your business needs.

The Most Efficient Conversational AI Solution for the Automotive Industry

iovox Insights is the ideal conversational Artificial Intelligence for the automotive industry.

This conversational AI platform lets you transcribe recorded conversations and draw insights to identify trends so you can greatly improve your customer support and overall customer experience.

Here’s how:

  1. Record Conversations and Make them Searchable

    iovox Insights can efficiently record customer support calls and transcribe them. This makes important information readily available for you as you can go through old, transcribed calls when needed.

    This also increases transparency over every customer interaction with potential vehicle buyers.

  2. Assess KPIs to Enhance Customer Experience

    With iovox Insights, you can record your customer calls to:

    • Track trends
    • Spot trends
    • Anticipate outcomes based on criteria important to your business

    You can also monitor the call performances of every human agent to get more insights on customer experience. Just go to your iovox dashboard to access insights, including:

    • Average calls per day
    • Total talk time
    • Your preferred keywords spotted in conversations

    As you use the AI solution more and more, you’ll learn of new opportunities to train it in a way that benefits you. This way, iovox Insights will keep getting more powerful and help you boost your customer service and overall customer journey.

    And since conversational AI solutions can also recognize future and existing revenue opportunities, you’ll find more ways to boost sales.

  3. Track Calls and Leads with Keywords

    With iovox, you can use the keyword spotter feature to detect specific phrases and keywords like “book,” “test drive,” “customer satisfaction,” “price,” “interest rate,” “Mercedes Benz,” or some other automotive brand name, etc.

    This feature automatically identifies keywords from call recordings and tracks them. This process can come in handy when trying to understand what influences the decisions of your potential automotive consumers.

    You can also train your AI by adding other advanced criteria, such as adding a trigger or filter.

    Finally, you can even go over past customer service or sales service call recordings to spot potential vehicle buyers and use a keyword spotter to identify leads.

With that said, let’s learn a bit more about conversational AI, so you have a better understanding of the technology.

2 FAQs About Conversational AI

Here are some FAQs related to conversational Artificial Intelligence:

  1. What is the difference between a conversational AI and a chatbot?

    A traditional chatbot interacts with a human based on predefined rules via voice or text messages. It carries out limited tasks like answering some frequently asked customer queries.

    Facebook Messenger, e-commerce chatbots, social media chatbots like the WhatsApp chatbot, etc., are some examples of chatbots.

    On the other hand, conversational AI can perform more complex tasks. It combines AI technology like Natural Language Processing (NLP), machine learning, speech recognition, etc.

    Some conversational AI solution examples include Google Assistant (virtual assistant), Alexa (voice assistant), Siri (voice assistant), Cortana (digital assistant), and more.

  2. What can conversational AI chatbots do for the automobile industry?

    A conversational AI chatbot (AI bot) in the automobile industry can take on some complex tasks making room for more important duties for every human agent on your team.

    Here are some of the benefits of automotive chatbots:

    1. Enhances Customer Engagement

      Artificial Intelligence-powered automotive chatbots help increase customer engagement and streamline the customer journey with fast humanlike interactions that are personalized and relevant to the users visiting your automotive website.

      This can increase conversion rates and provide a solid pipeline of qualified leads to your dealership.

    2. Boosts Lead Generation

      Automotive dealers can allow conversational AI to help analyze every customer interaction and gather information from them as fast as possible. The quick, collected data can accelerate the process for your sales team by helping them qualify leads better.

Final Thoughts

Conversational AI is evolving each day and is changing the automotive sector for the better.

From assisting agents in analyzing feedback to helping your business understand its strengths and weaknesses, conversational AI can push your automotive business faster towards success.

If that’s what you envision for your company, we have just the solution for you that can give you a competitive advantage over other dealership experiences.

Start using iovox Insights today to record calls and gain valuable insights regarding your potential vehicle buyers.

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