On the CBT Automotive Network today, Jim Fitzpatrick and Scott Gunnell, Vice President of Field Sales Operations and Strategy for JM&A , talk about how your company can be better at virtual retail by building your website to take advantage of and use artificial intelligence.
The last time we spoke to Scott, we talked to him about the opportunity that dealers have in the virtual space with F&I. Today, in the second part of our interview with Scott, we dive a little deeper into virtual retail and how to optimize artificial intelligence to benefit your bottom line.
Our industry is moving further down the digital rabbit-hole every day. From setting an appointment to financial pre-approval, the odds of it occurring through your website are very likely. But as we talk more with Scott from JM&A, we learn that just having a virtual website is not enough to carry your dealership and compete with other dealers or third-party vendors when selling online.
Artificial intelligence, or machine intelligence, uses compiled data to provide information and complete tasks. Learning how to build your website properly so it engages to capacity with AI is key.
JM&A specializes in artificial intelligence and using that information to help your company’s bottom line. For the past few years, they have been working on a new concept they call prescriptive selling. Prescriptive selling uses data to ultimately prescribe a sale. By combining their partner’s technology and then using a treasure trove of data provided, they are able to produce precise and specialized suggestions for purchase. By taking the data of the consumer and inputting it into the transaction, you’re narrowing the search and dishing up products that are more likely to be purchased.