Rajendra

I write columns on news related to bots, specially in the categories of Artificial Intelligence, bot startup, bot funding.I am also interested in recent developments in the fields of data science, machine learning and natural language processing ...

Full Bio 
Follow on

I write columns on news related to bots, specially in the categories of Artificial Intelligence, bot startup, bot funding.I am also interested in recent developments in the fields of data science, machine learning and natural language processing

This asset class turned Rs 1 lakh into Rs 625 crore in 7 years; make a wild guess!
662 days ago

Artificial intelligence is not our friend: Hillary Clinton is worried about the future of technology
666 days ago

More than 1 lakh scholarship on offer by Google, Know how to apply
667 days ago

Humans have some learning to do in an A.I. led world
667 days ago

Human Pilot Beats Artificial Intelligence In NASA's Drone Race
668 days ago

Google AI can create better machine-learning code than the researchers who made it
72555 views

More than 1 lakh scholarship on offer by Google, Know how to apply
59184 views

13-year-old Indian AI developer vows to train 100,000 coders
40707 views

Pornhub is using machine learning to automatically tag its 5 million videos
37020 views

Deep Learning vs. Machine Learning A Data Scientist's Perspective
30123 views

A Machine Learning driven chatbot that simplifies service bookings and tracking for Automobile Industry

By Rajendra |Email | Jun 29, 2017 | 6351 Views

Maximizing sales and profitability in this competitive world of automobile industry sales is being driven more by customer service. With Customer Service being a key differentiator in attracting new customers, deepening relationships with existing ones and increasing service revenues, it is unfortunate that Customer satisfaction on an average typically hovers around the mid 7`s on a scale of 10.(Source JD Power associates).

Social media already was the preferred channel for product and service information followed by call center, email and live chat. Now increasingly Digital will play a key role in Customer service, scheduling and inquiry with new age channels available to tap.

As per Lakshmiu Tatikonda writing in the Management Account Qaurterly 5% increase in CSAT and retention tends to add between 25% of the bottom line based on various factors. Investing in customer service hence appears to be a no-brainer.

There are various challenges faced by automobile dealerships looking to compete and differentiate in a crowded marketplace.

Challenge : Staffing
The first one typically is staffing, attrition and availability of humans to be available to staff the customer service functions. Most of the calls taken by the customer service rep tend to be inquiries or scheduling and complaints. These can be easily addressed using automation and 2/3rds of these are being handled in offline ways with social media leverage.

Challenge : Training
Training is a crucial aspect of great customer service. Any customer service manager will tell you that it is never easy to almost impossible to get an even level of training and awareness of process, systems knowledge and consistent always on follow through. Most customer service KPIs tie back to training of the Customer service representative

Challenge : Always on engagement
There are limitations to building a customer service organization that is always available when a customer needs it. Automobiles are driven all hours of day or night and problems can happen at anytime leading for a need to reach out to customer service. Unless an auto dealership is big enough or has many points of presence staffing for a 24 x 7 cycle is cost prohibitive or not sustainable based on seasonality and market ups and downs

Challenge : Spend on technology and infrastructure
Any organization looking to staff a customer service function needs to acquire and pay for hardware and software to run the customer service function. In the current era, costs of customer service scale exponentially based on business growth. So the bigger you are the more issues customer service faces and lower the Customer Satisfaction traditionally measured with metrics like CSAT.

Challenge : Costs
A big issue that automobile dealerships are grappling with are how to contain costs and how to derive a respectable ROI from customer service investments. Costs

Challenge : Deepening relationships
Always on customer service leads to better retention and a way to deepen customer relationships with automated intelligent handovers to affiliate revenue channels making the information and scheduling a breeze. The traditional way is face to face which has proven to be cumbersome to support the volumes faced in the industry. Face to face also lacks the consistency provided by automation and digital channels

Challenge : Outbound sales and discounts
A typical issue faced by many dealerships is the communication and marketing of sales promotions and product & service discounts. Chat platforms have the broadest utilization and reach among all interaction channels. Its difficult to match the span of Facebook with 1.4billion people online with any traditional methods to reach, be it TV advertisements which get eliminated while recording favorite shows or be it print media and even door to door newspaper inserts which, in a majority find their place in a garbage can rather than in front of a customers eyes

Challenge : Expanding customer base
Given that social channels now are the most broad based from a customer reach perspective, it pays increasingly to use them for expanding reach. Many potential customers are available and listed as per area codes based on a dealers geography making it much easier to target on a channel that gets used multiple times a day.

If you are looking to overcome all these challenges and deepen and expand your customer relationships, bots carried on popular messaging platforms like Facebook messenger, Viber, Link and a slew of others represent a very low cost way in doing so.

Come explore the world of Engatia an exciting new way to approaching customer service, that has been benchmarked to reduce 92% of service costs which solving for all the challenges above. 10 minutes of your time can have your bot working for you and the earlier you sign up for a trial the quicker your bot will start learning (since it is machine learning based) your customized customer service scenarios giving you an edge over your competition.

Source: Chatbot News Daily