Transcript Don Crawford - 18th Digital Dealer Conference & Exposition

What can the automotive industry learn
from Watson and Siri?
Don Crawford
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Introducing Watson, Siri and Cortana..
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Introducing Artificial Intelligence (AI)
• AI is the science and engineering of making intelligent machines,
especially intelligent computer programs
• Around since 1950s, but gained traction in last 25 years
• Used for deduction, reasoning, problem solving, learning,
planning
• Thriving in logistics, data mining, medical diagnosis
• More recently used in customer service and sales applications
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Introducing Artificial Intelligence (AI)
Google Ventures Puts
$258M Into Uber, Its
Largest Deal Ever
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
AI in customer service
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
AI used by U.S. Army – Sergeant Star
OVERVIEW
SERGEANT STAR: THE ARMY’S VIRTUAL GUIDE
Sergeant Star is your virtual guide to goarmy.com. He’s here to help answer any
questions you have about the Army. Just type in what you are looking for and he’ll
find the information you need – fast.
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
AI in automotive
• BMW has leveraged AI in its i Genius mobile app
• Interacts with potential customers in a live Q&A
• Test a question relating to BMW and the i Genius
system will instantly respond with a detailed and helpful answer
• Can interpret words, the context of those words and the
sentiment behind each question in order to respond
• Subsequent questions can be asked allowing an informative,
real-time conversation
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Leads, leads everywhere
• Most sales teams are drowning in leads
• More lead sources available than ever
before
• But it’s not about quantity
• It’s all about quality
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Lead conversion is the challenge
• 79% of marketing leads never convert to sales1
• After 48 hours, Conversica polled 273,000 leads and found 27%
had not received a call or information from a sales rep
• Less than two-thirds of sales reps meeting quota
• Less than 57% of companies hit their revenue targets2
• With so many leads, why is this happening?
• What’s broken and how can it be fixed?
1 MarketingSherpa; 2 CSO Insights, 2012
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
It’s not rocket science . . . we spend too much
time contacting instead of connecting
Connect
Engage
Qualify
Close
Follow Up
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Or is it . . . ?
Sales reps spend their time 80% prospecting
and only 20% closing
33% of leads that show interest are not
contacted by reps
Sales is still
inefficient
Sales teams have a hard time keeping
up with leads generated from marketing
Sales time is wasted trying to connect with
unqualified prospects
Prospects are harder to reach - screening
inbound calls and ignoring emails
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Current solutions – pick up the phone
• Expensive, inefficient and not scalable if there are thousands of
leads to contact
• Leads screen phone calls and are often not available.
• Calls are made (9 a.m.- 9 p.m.) but often miss the 24/365
consumer
• Often leads do not provide a phone number
Bottom line – it’s really hard and time consuming to reach a
prospective lead
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Current solutions - email
• 1 in 5 emails don’t make it
• Only 60-83% CRMS emails are getting through…
• Autoresponders and canned messages are often deleted or are
never received (spam)
• Software applications have automated many phases of the sales
cycle except the most critical – qualifying leads and determining
when interest changes to intent and the lead is ready to engage
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
As a result …
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
What if you could automatically determine
when interest changes to intent?
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Applying AI to sales situations
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
AI enables polite persistence and consistent
follow up
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Connect & engage with personalized emails
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
With engagement and response you can
automatically determine interest or intent
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Medicare
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Life Insurance
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
College of Design
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
With AI you can
Automate
Sort
Prioritize
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
Applying AI to sales
• AI can be used by any company in any industry with a marketing,
sales or inside sales department. Basically any company with
leads.
• AI is used by lead aggregators e.g. cars.com, autotrader.com,
lendingtree.com, bill.com, accuquote.com, quotewizard.com
• AI is used to:
• Connect with and develop leads in real time
• Engage leads and qualify their intent
• Re-engage stale leads
• Nurture leads from interest to intent
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
The AI payoff
• Sales teams can focus on selling qualified leads that intend
to purchase
• No wasted resources chasing dead leads or trying to make
contact
• Sales teams can handle more leads because they are the right
leads
• Increases sales opportunities and sales team productivity
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
The Future of (AI)
“robots will be responsible for the loss of 50 percent of the jobs in
the service sector in 10 years…the cost of labor will drop to just
the cost of power.”
“AI can today do most of the things that humans can do, they can
think better than humans, they can translate and understand 85
languages and they can read and write”
Dr. Peter Diamandis, Co-Founder of Singularity University and Founder of the X-Prize
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
The Future of (AI)
Embracing technology will enable your
dealership to become more lean and efficient
while serving the customer better and quicker.
Don Crawford | Conversica | Director of OEM & Dealer Groups | [email protected]
For more information, visit www.conversica.com
Contact Info
Full Name:
Don Crawford
Company:
Conversica
Job Title :
Director of OEM & Dealer Groups
Email:
[email protected]
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