myautoIQ, a SaaS company providing AI and big-data-driven solutions for the automotive industry, has added new capabilities to its scanIQ product to help auto dealers be more efficient with their lead follow-ups. In addition to real-time buyer intelligence and prioritization of leads and customers, scanIQ now adds lead nurturing for automated and personalized follow-ups.
scanIQ is a real-time lead scoring solution for dealers, using myautoIQ’s unique buyer intelligence. By using the minimum information available with any online lead or customer, the software can predict and recommend a prioritization score, their likely next car, preferences, likelihood of purchase, buying lifecycle stage and much more, all in real-time.
The new scanIQ release adds personalized lead nurturing to the list of features, allowing car dealers to personalize and automate their follow-ups easier than ever. Instead of one canned automated message for all, every lead gets a series of personalized communication based on their preferences suggesting similar cars, price changes, stock changes and the like. The follow-ups are further prioritized based on the customer’s buying stage; early-stage shopper vs. late-stage shopper; buyer profile; and their preference in a car.
“The previous release of scanIQ enabled auto dealers to prioritize leads and engage customers, increasing their conversion rate. However, a big issue we saw was that the sales follow-up process at dealerships was time-driven and not personalized, with most dealers stopping active follow-ups after five to seven days,” said Vikrant Pathak, CEO and chief data scientist at myautoIQ. “Prospective customers frequently take between 45-60 days before they buy, and need to be nurtured. The result we saw was that dealers lose 90% of their leads. When we looked at this data through scanIQ analytics, we knew we could help. We updated scanIQ to include automated and personalized lead nurturing as part of the product and provided this to our customers at no additional charge. With these changes, auto dealers can now significantly increase their conversion rate, and even use it to nurture past, dormant leads.”
