Why Many Won’t Be Ready for the AI Revolution
As a dealer, you’re juggling countless responsibilities. But have you stopped to think about the control you have over your data—especially the deep transactional data that AI will soon rely on?
Many dealerships assume their DMS (Dealer Management System) holds all the crucial data, but the reality is more complex. While your DMS might store some key information, the most valuable data—like finance and insurance (F&I) details—often lives in systems controlled by your suppliers, financiers, or insurers. This is data you may not have easy access to, especially with today’s stringent privacy and data security laws.
The AI Revolution Is Here, but Are You Ready?
Artificial Intelligence is rapidly transforming the automotive industry, promising to unlock new opportunities for dealerships. However, to leverage AI effectively, you need comprehensive, high-quality data. But what happens when your DMS doesn’t have all the data you need?
Your financiers and other third-party vendors are likely to use AI for their purposes, not yours. They hold your critical customer data, and retrieving it can be a daunting task, particularly if you switch suppliers. Imagine needing to access years of F&I contract information—can you easily get it? Probably not, given the current regulatory environment.
The Hidden Value in Your Data
Mining vehicle sales and F&I customer data for sales opportunities is one of the most impactful strategies you can employ. Leads generated from F&I contract renewals or customers in equity positions usually have higher conversion rates than almost any other lead type.
AI can help you sift through your customer transactional data to uncover these opportunities, but it can only do so if you have access to that data. Consider vital details like:
These are the questions AI will need to answer to optimize your sales processes, and yet, most dealers remain complacent about securing this data.
Don’t Let Your Data Slip Away
Your customer data, especially F&I details, is a valuable asset that contributes to your dealership’s goodwill and overall business value. If you lose access to this data, you’re left competing in the crowded market for new prospects, where conversion rates are notoriously low.
Finance brokers pay a premium for customer lists such data. So why aren’t more dealers taking data protection seriously?
Prepare Your Data for the AI Revolution
If you want to leverage AI to reduce costs, improve profits, and boost conversions, you need to start by securing your data. Don’t leave your dealership’s future to chance—begin building a robust data vault today.
Op2ma’s Ri-gnr8 One is a revolutionary platform built on 15 years of expertise in vehicle sales and F&I transaction data.
Call to Action: To find out how we can help you prepare for the AI-driven future, let’s see up a no-obligation discussion today.
Secure your data. Secure your future. Get ready for the AI revolution with Op2ma.