EP 8:16 Enhancing Your CRM with Advanced Technology Integration

Millionaire Car Salesman Podcast

We’re kicking off 2024 in this insightful episode of the Millionaire Car Salesman Podcast, your host, Sean V. Bradley, is joined by Steve Roessler, co-founder of DriveCentric. Together, they delve deep into the pivotal role of CRM technology in the automotive industry and its transformative impact on customer engagement in the Automotive Industry!

Sean and Steve provide valuable insights into the current state of CRM and the technology within it in the automotive industry! Both advocate for a shift in focus from transactional to relational communication, emphasizing the pivotal role CRM systems play as the heart of a dealership. The discussion explores the transformative power of video emails and text messages in fostering personalized and engaging interactions with customers.

Furthermore, Steve delves into the integration of AI, particularly Chat GPT, into CRM systems. He illustrates how AI technologies can revolutionize customer engagement by automating responses and assisting salespeople with prompts, ultimately enhancing efficiency! The episode concludes with a forward-looking perspective on the future of CRM, highlighting the significance of conversational marketing and the role of AI in optimizing communication processes within dealerships! Tune in to gain valuable insights into maximizing the potential of CRM technology and staying ahead in the automotive industry!

Key Takeaways

• CRM technology is the heart of a dealership and should be used to foster engagement and build relationships with customers

• Video emails and text messages are powerful tools for creating personalized and engaging communication with customers

• AI, such as Chat GPT, can enhance CRM systems by automating responses and providing prompts for salespeople

• The future of CRM in the automotive industry lies in conversational marketing and leveraging AI to streamline communication and improve efficiency

"The best CRM is the one that's used." - Steve Roessler, DriveCentric

About Steve Roessler

Steve is recognized as one of the most prominent voices in automotive advocating for dealerships, customers, and the community. Steve was rated #2 NADA Most Popular Speaking Session, and won 2022's AWA Best Speaker Award. With his infectious personality, audiences enjoy a learning environment that’s fun, inclusive, and informative. Steve has been educating the automotive community for over 10 years, but has another 15 years of expertise servicing customers and teaching them to embrace new technology and long-term strategies that drive sales and market share growth while providing an exceptional customer experience.

The Future of CRM: Unlocking the Power of Engagement and AI

Introduction

In the fast-paced world of automotive sales, staying ahead of the competition is crucial. One of the most powerful tools at a dealership's disposal is a Customer Relationship Management (CRM) system. However, many dealerships struggle to fully harness the potential of their CRM, leading to missed opportunities and lost revenue. In this article, we will explore the key challenges faced by dealerships in relation to CRM and how innovative solutions, such as Drivecentric's AI integration, are revolutionizing the industry.

The Importance of Cultivating Relationships

In any sales industry, building relationships with customers is paramount. However, in the automotive industry, where the majority of interactions occur online, cultivating these relationships digitally is essential. Traditional CRM systems have focused primarily on database management, but the future lies in engagement-first approaches. As Steve Roessler, CEO of Drivecentric, explains, "We're teaching stores to think engagement first and database second. Customers are buying cars faster than ever, and we need to adapt to this new reality."

According to Roessler, one of the key challenges faced by dealerships is the shift from in-person interactions to digital showrooms. To bridge this gap, dealerships must embrace conversational commerce. This means using tools such as gifs, memes, and videos to create engaging and personalized conversations with customers. As Roessler points out, "Texting is the number one form of communication, and we need to leverage that. By using gifs, memes, and videos, we can create a more relatable and engaging experience for customers."

The Rise of Video

Video has emerged as one of the most powerful mediums for communication. It allows for the conveyance of sight, sound, motion, and emotion, creating a more immersive experience for customers. According to Roessler, dealerships that utilize video emails and video text messages see significant increases in open rates and engagement. He cites a 35-store group that saw an average $400 gross increase on the front-end with video versus no video. The key is to make videos personal and concise, keeping them under 30 seconds.

The Integration of AI

Artificial Intelligence (AI) is revolutionizing the automotive industry, and CRM systems are no exception. Drivecentric's integration of Chat GPT (Generative Pre-trained Transformer) allows for more efficient and personalized communication with customers. The AI can be programmed to respond to customer inquiries, acknowledge specific details mentioned by the customer, and even provide prompts for salespeople to craft their responses. This streamlines the communication process and allows salespeople to focus on building relationships rather than administrative tasks.

The Paradigm Shift in CRM Strategy

One of the biggest challenges faced by dealerships is the outdated and inefficient CRM strategies that are still prevalent in the industry. Many dealerships focus on quantity rather than quality, making a high volume of phone calls and sending generic emails. This approach leads to low connection rates and disengaged customers. Roessler emphasizes the need for a paradigm shift, stating, "We need to celebrate conversations, not activities. It's about talking to customers, not just making phone calls or sending emails."

According to Roessler, the future of CRM lies in leveraging AI to create conversational marketing and streamline processes. AI can handle routine tasks, such as appointment confirmations and follow-ups, allowing salespeople to focus on higher-value activities. The integration of AI and CRM will enable dealerships to provide a more personalized and efficient customer experience. As Roessler explains, "AI is the roomba of CRM. It takes care of the mundane tasks, allowing salespeople to focus on meaningful conversations with customers."

Conclusion

The automotive industry is evolving rapidly, and dealerships must adapt to stay competitive. CRM systems are at the heart of dealership operations, and harnessing their full potential is crucial. By embracing engagement-first approaches, leveraging the power of video, and integrating AI technology, dealerships can create more personalized and efficient customer experiences. The future of CRM lies in building relationships, cultivating engagement, and utilizing AI to streamline processes. As the industry continues to evolve, dealerships that embrace these innovations will thrive in the digital age.

Future Outlook

Looking ahead, the future of CRM lies in leveraging AI to create conversational marketing and streamline processes. AI can handle routine tasks, such as appointment confirmations and follow-ups, allowing salespeople to focus on higher-value activities. The integration of AI and CRM will enable dealerships to provide a more personalized and efficient customer experience. As Roessler explains, "AI is the Roomba of CRM. It takes care of the mundane tasks, allowing salespeople to focus on meaningful conversations with customers."

In addition, the rise of conversational commerce and the power of video will continue to shape the automotive industry. Dealerships that embrace these tools and techniques will be able to create engaging and personalized experiences for their customers, leading to increased sales and customer satisfaction.

Overall, the future of CRM is bright, with innovative solutions such as Drivecentric's AI integration leading the way. By harnessing the power of engagement and AI, dealerships can unlock new levels of success and stay ahead of the competition in the fast-paced world of automotive sales. The key is to adapt to the changing landscape, embrace new technologies, and prioritize building relationships with customers. As the industry continues to evolve, dealerships that embrace these innovations will thrive in the digital age.

Resources:

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

The Millionaire Car Salesman Podcast: is the #1 resource for automotive sales professionals, managers, and owners. Also, join The Millionaire Car Salesman Facebook Group today!

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