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 sales 1 • 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 targets 2 • 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 is still inefficient Sales reps spend their time

80% prospecting

and only

20% closing 33% of leads

that show interest are not contacted by reps 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: Company: Job Title : Email: Don Crawford Conversica Director of OEM & Dealer Groups [email protected]

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