Equity mining tools and Cognitgo’s RObot both identify potential trade-in and buyback opportunities for automotive dealerships. However, the RObot has several key advantages over traditional equity mining tools. In this blog, we will discuss the pros and cons of RObot and equity mining tools to help dealers make an informed decision on which tool can help generate more revenue.
Dealerships have long relied on the time-consuming and incomplete method of equity mining tools to uncover opportunities. Equity mining tools can provide significant advantages, but they require time and effort from sales reps to find the right opportunities.
Using VIN decoder may not always bring the most accurate results compared to AI processes which are typically more reliable and precise. Equity mining is still beneficial as it helps identify half of the viable opportunities each month that would otherwise go unidentified!
This is where a tool like RObot comes in – with automated communication that reaches out 100% of the time, you don’t have to worry about leaving any potential customers untapped!
RObot uses AI and Natural Language Processing (NLP) to analyze customer and vehicle information in real-time, allowing it to quickly identify buyback opportunities as they arise. This contrasts with equity mining tools, which may require manual data entry or batch processing to identify prospects.
RObot is an automated Intelligent Process Automation (IPA) tool, which means it can engage customers directly and provide quotes for trade-in evaluations within minutes. This is much faster than traditional equity mining tools which may not have the capability of reaching out to the customer.
RObot uses a single process for evaluating customers and vehicles, which helps to ensure that all potential buyback opportunities are identified and acted upon. This contrasts with equity mining tools, which may be focused solely on identifying profitable trade-in prospects, and may miss other opportunities such as fixed ops and F&I.
Dealers can acquire cars in various ways including: trade-ins, auctions and wholesalers. However, these two latter options are often expensive due to competing dealers – making the process a risky venture. Thankfully RObot offers an exciting alternative that enables cost effective buybacks & trades while also providing access to customers who have yet to begin shopping around!
RObot’s AI-driven technology guarantees to streamline the entire process, providing a unified approach to identifying valuable prospects, and generating revenue through new and used vehicle sales, fixed ops, and F&I departments.
It also empowers dealership to identify prospects who have positive equity in their vehicles and could be profitably wooed with a new vehicle with attractive finance terms.
Unlike traditional equity mining tools, RObot is a 24/7 lead generation machine that will never miss an opportunity to boost your dealership’s sales and revenue.
RObot is a more advanced and efficient tool than traditional equity mining tools, making it an ideal choice for automotive dealerships looking to maximize their buyback and trade-in opportunities.
