AI is here today in automotive and can provide tremendous value for OEMs”—what we described in our January 2018 report on artificial intelligence (AI) in automotive remains true. And it’s particularly relevant to automotive marketing and sales (M&S). That’s why we chose to focus research on the subject; our findings are captured in a new report, How to win tomorrow’s car buyers—artificial intelligence in marketing and sales. This article provides highlights from the full report.
In many industries, leading companies are already effectively utilizing AI in their M&S activities (see sidebar, “Artificial intelligence in marketing and sales”). This allows them to take their performance to new levels in a few different ways:
- Utilizing rapidly expanding data availability. These companies are, for example, drastically increasing their marketing efficiency through programmatic advertising with AI at its core.
- Drawing from data connected throughout their customers’ entire journeys. These companies are using AI to personalize their sales efforts to up- and cross-sell to customers with individualized offers and personalized pricing.
- Deploying AI to all M&S operations. These companies, most notably, are demonstrating how AI can be used to automate and optimize M&S operations, such as sales forecasting, product configurations, stock allocation, and after-sales operations.
Please click here to view the full press release.
SOURCE: McKinsey & Company