The automobile sector has been at the forefront enabling promising technologies in their vehicles for drivers and their customers’ benefits. Automobile customers have loved interactive technologies in their cars and vehicles. Most of the time, vehicles are sold on their features, specifications, after-sales services, perception of the company, as well as how good the salesperson is. Here pre-sales customer satisfaction as well as post-sales customer satisfaction is important.
When a customer is very tech-savvy, you can not take chances. Before buying the vehicle, he will compare the features of one car with the car, after-sales service of one brand with another and so many more parameters.
Before he visits the dealership, he would have already decided what he wants. To reach this level of decision-making, he would have heavily depended on online portals, blogs, reviews forums, YouTube forums, and the vehicle’s official website. This is where conversational ai technology comes into play.
Before looking into ROI from conversational AI, let’s get to know about it.
Introduction to conversational AI
Did you know that in the era of Artificial Intelligence (AI), conversational AI is becoming the communication partner of various industries ranging from large-scale industries to small-scale industries? You can deploy conversational AI into your business to communicate with the end-users providing them solutions, and services helping your customers to converse with applications, websites, and devices of your organization through voice, text, touch, or gesture.
The advantage of using conversational AI is that it responds to your customers’ queries like a human, but at a much faster pace and accuracy than a human with a delayed response time round-the-clock that makes your customers happy.
In conversational AI, we use various tools such as messaging applications and speech-based assistants that use Automatic Speech Recognition (ASR), Natural Language Understanding (NLU), Natural Language Processing (NLP), and Natural Language Generation (NLG) to interact with humans. According to a report by Deloitte deploying AI chatbots help in 70% cost reduction and revenue generation. This increases the number of satisfied customers and provides a competitive edge to your business.
14 benefits of conversational AI in automobile industry
1. Interacting with Customers
Conversational AI uses chatbots powered by artificial intelligence to interact with customers. Chatbots modernize interactions between customers and organizations to enhance customer experience, customer engagement, and overall operations with increased efficiency at a reduced cost. According to a report by McKinsey, a leading telco was able to stop 50 percent of unnecessary service calls and inbound calls related to repairs by using robotics to proactively contact customers and resolve issues.
Morris Garage with the help of Yellow.ai launched Avira to help their customers in India book their latest launches or even just book a test ride.
2. Customer Experience
Various studies substantiate that AI makes customers happy with its transformed customer experience in 5 ways through customer engagement.
a) It increases self-service by reducing the wait time for the customer.
b) It provides necessary information like product and service information.
c) It offers personalized information based on the previous history by the customer.
d) It is available 24/7. It provides automated life assistance. It makes the customers happy by responding without getting upset like humans.
e) It increases the data privacy of customers as there are negligible to null chances of the data leak.
3. Lead Capture & Nurturing
According to Forrester’s Marketing Automation Technology Forecast global spending on marketing automation tools is to increase to $25 billion by 2023, a 14% annual growth rate. It is a practice deployed by an organization to monitor incoming leads to qualify, analyze, and nurture them to convert them into new business opportunities. Chatbots perform a pre-chat survey by collecting necessary customer information. Chatbots identifies new visitors from returning visitors to collect and provide information. Chatbots interact with your customers and prospective leads even when you are offline to receive and deliver information.
4. Capturing Customer Feedback
Customer feedback is a set of information received from your customers regarding your company, products, and services. Chatbots collect customer feedback through various methods such as customer feedback surveys, email and customer contact forms, usability tests, exploratory customer interviews, social media, on-site activity (via analytics), and instant feedback from your website.
5. Affording Purchasing Assistance
Chatbots provides pre-sales support to the prospects and existing customers by providing information on new vehicle launches or the latest offers provided by your organization. The chatbots send notifications through messaging applications, social media messages, or email.
6. Providing After Sales Support
Chatbots get engaged with your customers proactively by reaching out to them asking if they have any issues with the product. This provides you with a cutting edge for your organization in the market by providing support 24/7.
7. Offering Product Information
Chatbots on your websites help customers to ask questions about the vehicles and get the information required by them such as vehicles available, models, and features. This allows customers to decide on the car they need.
8. Booking Service Appointment
Conversational AI helps your customers to book a service appointment for their vehicle based on the available slot with the nearest service center based on their location. It also provides service details, costs, and expected delivery dates.
9. Helping in Documentation
Chatbots ease the documentation process of your organization by deploying techniques such as form parsing, table parsing, processing using an Auto ML model, multi-region support, and invoice parsing.
10. Sending Delivery Alerts
Based on the information available in your database, the chatbots send delivery alerts for new vehicles. It also sends delivery notifications to the customers who have booked service appointments based on the data available in your database.
11. Assisting Customers on Road
Virtual assistants help in providing road-side assistance to the customers with tow truck drivers to their locations. It also provides information on the nearest service centers and their contact details.
12. Charging Stations Information
Conversational AI provides your customers with the nearest charging station information based on the GPS location of the user.
13. Suggesting Dealership Information
Conversational AI provides dealership information to the prospective dealers who would contribute to your business. It understands the challenges involved in the dealership business such as increased competition, vast data, and customer expectations by providing adequate customer support, focused marketing services, and cybersecurity to protect the data of the customers and the dealers.
14. Impact on Customer Engagement
1. Increase in accuracy, efficiency, and efficacy in providing real-time data to your customers
2. An upsurge in the number of satisfied customers
3. Upskilling of chatbots is much more manageable than upskilling a human to meet increasing market demands and growing business.
Advantages of conversational AI
1. Custom Beta Bot Deployment:
Deploy our free trial conversational AI that is tailored for your business based on the customized use cases from our experts, on Website, WhatsApp, Messenger, Google, etc.
Analyze the accuracy, efficiency, and efficacy provided by our AI-powered chatbots in improving your business and operations or opt for a custom analytics board offered by Yellow.ai as per your business needs
3. Upskilling the Bot:
Suggest the improvements you require to implement in our AI-powered chatbots to meet your new and existing business requirements. We will develop and deploy it in all your business environments.
4. New Scope Monitoring:
Continuously collect and monitor the data from our AI chatbots and analyze new business requirements and inform us to come with more unique versions of AI chatbots for you to meet the latest market demands.