One for the books!
Well, this NADA will go down in history books for sure. Unprecedented snowstorms, cancelled flights, and cross-country roadtrips set the scene for a crazy weekend in New Orleans.
The Lotlinx team went above and beyond to put on a show worthy of its dealer attendees, complete with live speaking sessions, round-the-clock refreshments, and F1 racing simulations. Not to mention, we welcomed dealers into our exclusive Data Room packed with the power to provide AI-driven, real-time insights to every attendee.
Embracing Artificial Intelligence
For those that could not make it to New Orleans, the resounding theme of the event was that dealers must embrace artificial intelligence and machine learning.
Watch: Lotlinx founder Len Short and CBT News’ Jim Fitzpatrick discuss the uses of AI in the dealership
AI is no longer nice to have – it is critical to have. Dealers who are embracing it today are seeing vast improvements in their operational efficiencies.
Here are some of the ways dealers are incorporating AI tools into their business operations.
Adding an automated intelligent assistant:
This is more than the current chatbot. An automated assistant is available 24/7. They sift through vast datasets to identify things such as high-value leads, recommend effective campaign strategies, uncover demand per VIN, and much more. This data helps dealers focus their budget and time on things that will be more profitable.
Lotlinx was proud to introduce dealers to our own Virtual Inventory Agent, demonstrating how predictive analytics helps to acquire, price, and promote cars more effectively and efficiently.
Creating hyper-targeted audiences:
Advanced data modeling allows dealerships to segment customers based on buyer demand and understanding where the customer is on their shopping journey, ensuring marketing efforts are both precise and meaningful.
Building more personalized communications:
AI tools enable real-time, personalized interactions with customers through email, text, and other channels. Whether scheduling appointments or answering inquiries, these tools enhance customer satisfaction while increasing conversions.
Future-proofing your dealership:
Integrating all your platforms into digestible usable insights helps dealers leverage their data more seamlessly. Connecting inventory data with consumer and market data is key to streamlining operations.
Read our latest dealer guide for more details on future-proofing your dealership no matter how the market changes this year.
Finding the Technology for You
While the energy at NADA was high, these emerging trends can seem overwhelming and it can be hard to know where to start when the dust settles. We recommend doing further research into the many vendors providing advanced technology solutions and determining which best fit your dealership’s needs.
Watch: Dealership AI – The Rise of the Machines
At Lotlinx, our proprietary technology is focused on executing retail operations flawlessly. From pricing and promotion to stocking, it’s all inside the machine. Get to know the Lotlinx Machine and request a demo if you are interested in working smarter, more efficiently, and more profitably.