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The Future of Car Dealerships Depends on AI Integration
Manage episode 491055267 series 3673311
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Brian Benstock and Jay Abraham explore how automotive retailers can leverage artificial intelligence and strategic thinking to transform their businesses and thrive amidst industry disruption.
• Origins of Benstock and Abraham's professional relationship dating back to the 1980s when Benstock attended Abraham's seminar on "how to sell anything to anybody"
• Three fundamental ways to increase sales: increase volume of transactions, increase amount per transaction, and increase frequency
• The danger of becoming "successfully stuck" in comfortable but limiting business practices
• Looking outside the automotive industry for innovative business models and customer experience approaches
• How incremental improvements across multiple business processes can yield exponential growth
• Why time has become more valuable than money for today's consumers, and how service pickup/delivery models capitalize on this shift
• Viewing AI as a tool for business expansion rather than merely cost reduction
• The importance of "funnel vision" - borrowing success approaches from outside the industry
• How to empower every team member with AI tools to create cumulative impact
• Starting with small AI implementations that generate revenue to fund larger innovation
For more insights on thriving in today's automotive retail environment, watch the full series of Thriving in Chaos with Brian Benstock and Jay Abraham exclusively on CBT News.
Chapters
1. Introduction to Thriving in Chaos (00:00:00)
2. Meeting Jay Abraham, Business Growth Expert (00:00:54)
3. Strategic Thinking Outside Industry Boundaries (00:02:11)
4. Levers for Business Growth (00:05:35)
5. Knowledge Asymmetry and Life Experience (00:14:04)
6. Maximizing Customer Value (00:19:10)
7. Making Business Easier for Customers (00:26:20)
8. AI Solutions for Dealership Operations (00:35:27)
9. Empowering Your Team With Intelligence (00:47:20)
10. Closing Thoughts and Appreciation (00:53:01)
6 episodes
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