EP 10:12 Selling Smarter, Not Harder: AI-Powered Dealership Strategies for Success

In this episode of the Millionaire Car Salesman podcast, host Sean V. Bradley dives deep into the transformative power of Artificial Intelligence (AI) in the automotive sales industry with guest Billy Hymas, the Auto Director at Podium. The discussion centers around how AI technologies, like Podium's AI named Jerry, are revolutionizing dealership operations by improving leads’ response times and conversion rates. 

“AI-driven tools can drastically enhance lead response times and improve conversion rates by providing timely and relevant customer communication.”

With insights into the consumer's changing expectations in the post-pandemic world, the duo explores the unparalleled advantages of integrating AI into customer communications, emphasizing the necessity for dealerships to evolve with the digital age. The conversation unfolds compelling statistics and strategies, noting how AI significantly boosts engagement through immediate and relevant communication, even during after-hours. 

“Integration of AI in the dealership’s workflow complements the CRM systems and aids human resources in maximizing operational efficiency and sales effectiveness.”

Billy highlights the importance of AI in enhancing customer satisfaction (CSI) by ensuring timely and personalized responses, thus bolstering online reputation management. With the shared success stories from major dealership groups, the episode underscores AI's pivotal role in navigating common challenges like high attrition rates and maximizing dealership profitability. Throughout this episode, listeners gain understanding into the balanced integration of AI, CRM tools, and human resources in dealership operations, equipping them with practical insights on optimizing lead management and boosting sales efficacy.

 

Key Takeaways:

✅ AI-driven tools can drastically enhance lead response times and improve conversion rates by providing timely and relevant customer communication.

✅ Jerry, Podium’s AI tool, acts as a diligent, omnipresent team member, handling customer inquiries after hours and aiding in the lead conversion process.

✅ Integration of AI in the dealership’s workflow complements the CRM systems and aids human resources in maximizing operational efficiency and sales effectiveness.

✅ Properly executed AI systems can improve Customer Satisfaction Index (CSI) by ensuring a seamless and personable customer experience throughout their buying journey.

✅ With AI's aid, dealerships can easily manage a large influx of leads without overstretching their human resources, addressing staffing challenges and increasing sales figures.

 

About Billy Hymas

Billy Hymas is the Auto Director at Podium, a leading technology company specializing in artificial intelligence solutions for the automotive industry. With a rich background in sales, including roles in door-to-door sales and enterprise sales, Billy brings a wealth of experience in customer interactions and technology solutions. His focus at Podium is on helping automotive dealers enhance lead conversion and customer engagement through cutting-edge AI technology. Billy's extensive experience in sales management and his work across various industries contribute to his expertise in implementing AI for business growth and efficiency.

 

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Revolutionizing Car Sales with AI: How Artificial Intelligence is Transforming Dealership Operations

Technology has always been at the forefront of revolutionizing industries, and the automotive sector is no exception. In a recent deep dive into AI's role in car dealerships, experts Sean V. Bradley from Dealer Synergy and Billy Hymas from Podium reveal how embracing this technology is not only changing the landscape but also boosting sales, efficiency, and customer satisfaction. The discussion encompasses the nuances of AI in dealership settings, tackling common challenges, and optimizing operations to meet evolving consumer expectations.

Key Takeaways

• Speed and Precision in Lead Response: The faster a dealership responds to a lead, the higher the likelihood of conversion.

• Role of AI in Reducing Human Error: AI helps maintain accurate customer interactions, minimizing the pitfalls of miscommunication.

• AI as a Team Member: AI tools can complement human resources by handling routine tasks, thereby freeing staff to focus on higher-value activities.
  
  

Speed and Precision in Lead Response: A Game Changer

In the dynamic landscape of automotive sales, speed is critical. As highlighted by Sean V. Bradley, the correlation between response time and closing ratio is direct and significant. Traditional methods of handling leads are becoming obsolete with the rise of AI technologies like Podium's "Jerry," which offers immediate engagement with potential customers. "The faster you respond to somebody, the higher the closing ratio," Bradley notes, emphasizing that AI can interact with leads—whether through text or online chat—immediately, even beyond business hours.

Billy Hymas adds weight to this by noting how AI can be a first line of defense in the often missed after-hours leads. "The ability to…answer quickly, help people feel warm and fuzzy because they're getting that instant dopamine hit. That's what sells cars," he explains. This real-time interaction reduces the delays that can lead to lost sales opportunities, offering a seamless transition from AI interaction to human follow-up when necessary.

 

The Role of AI in Reducing Human Error

The concerns regarding the implementation of AI often revolve around its interaction with existing tools like CRMs. Many dealerships fear overloading customers with multiple communications from different systems. Hymas addresses this concern by explaining the integration capabilities of AI, particularly with established systems to ensure that customer messages are not duplicated or conflicting.

AI's capability to maintain coherence and professionalism in customer interactions is paramount. As noted in the conversation, AI avoids common pitfalls such as email merge errors that tarnish customer experience. Hymas remarks on the intelligence of AI like Jerry, which can learn customer preferences and history, thus tailoring interactions that are informative and free of human errors, thereby building trust and improving customer satisfaction scores.

 

AI as a Team Member: Optimizing Human Resources

Beyond just replacing basic tasks, AI can enhance a dealership's human resources by optimizing how their time is spent. As Bradley and Hymas discuss, AI facilitates taking on repetitive tasks that consume significant amounts of human effort. Bradley notes, "What happens to dealers is don't get all excited about whatever technology, whatever vendor and not let them speak to each other," emphasizing the importance of an integrated strategy where AI complements staff efforts.

Hymas further adds that, "AI serves as an incredible trainer," allowing sales teams, especially newer members, to learn from AI’s customer interactions. This not only aids in onboarding but also offers a continual learning opportunity, allowing seasoned salespeople to hone their techniques based on AI interaction data.

 

Embracing the Future of Automotive Sales with AI

The conversation between Bradley and Hymas illuminates the transformative potential of AI in the car sales industry, highlighting its immediate benefits in engagement speed, accuracy, and resource optimization. AI, epitomized by tools like Podium’s Jerry, is proving to be an invaluable asset, capable of increasing conversion rates and enhancing customer experience. By seamlessly integrating with existing CRM systems, AI complements rather than complicates, allowing dealership teams to focus on relationship-building and high-quality sales interactions. For dealerships ready to embrace these technologies, the future looks bright—and more profitable—than ever. Adopting these strategies can revolutionize the way dealerships operate, ensuring they not only meet but exceed modern consumer expectations in the digital era.

 

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Resources:

Podium: Discover how Podium's innovative AI technology can unlock unparalleled efficiency and drive your dealership’s sales to new heights. Visit www.podium.com/mcs to learn more!

 

NCC: Credit-Driven Retailing - NCC delivers industry-best credit-driven retailing for auto dealerships, combining a powerful credit and compliance engine and fully integrated CRM/Desking platform for maximum profitability.

 

Complete CRM: Complete CRM is a streamlined, all-in-one system that simplifies your dealership software and processes so you can manage every aspect of your operation with ease; from tracking and following up on leads, desking deals, managing inventory, marketing to your customers, and more.

 

Dealer Synergy & Bradley On Demand: The automotive industry’s #1 training, tracking, testing, and certification platform and consulting & accountability firm.

 

The Millionaire Car Salesman Facebook Group: Join the #1 Mastermind Group in the Automotive Industry! With over 28,000 members, gain access to successful automotive mentors & managers, the best industry practices, & collaborate with automotive professionals from around the WORLD! Join The Millionaire Car Salesman Facebook Group today!

 

Win the Game of Googleopoly: Unlocking the secret strategy of search engines.

 

The Millionaire Car Salesman Podcast is Proudly Sponsored By:

Podium: Elevating Dealership Excellence with Intelligent Customer Engagement Solutions. Unlock unparalleled efficiency and drive sales with Podium's innovative AI technology, featured proudly on the Millionaire Car Salesman Podcast. Visit www.podium.com/mcs to learn more!

 

NCC: Powered by proprietary solutions such as Intelligent Credit Engine™ and LenderSelect™, NCC transforms the car-buying experience for dealers and their customers. From compliance and lender selection to CRM and desking, to marketing and data mining—NCC integrates them all in a single, seamless platform to deliver better customer experiences, maximum efficiency and maximum profit.

 

Complete CRM: As an innovative leader in the industry for the last 30 years, Complete CRM is designed to give your dealership the competitive edge in a demanding marketplace. Powered by Complete Credit™ and award-winning desking, Complete CRM™ is the industry’s only credit and compliance-enabled CRM that lets dealers achieve maximum profitability on every deal. Built on modern technology, Complete CRM seamlessly integrates credit, compliance, inventory, data mining, lead generation, enterprise functionality, and customized reporting in one tool with a single login.

 

Dealer Synergy: The #1 Automotive Sales Training, Consulting, and Accountability Firm in the industry! With over two decades of experience in building Internet Departments and BDCs, we have developed the most effective automotive Internet Sales, BDC, and CRM solutions. Our expertise in creating phone scripts, rebuttals, CRM action plans, strategies, and templates ensures that your dealership's tools and personnel reach their full potential.

 

Bradley On Demand: The automotive sales industry’s top Interactive Training, Tracking, Testing, and Certification Platform. Featuring LIVE Classes and over 9,000 training modules, our platform equips your dealership with everything needed to sell more cars, more often, and more profitably!