By Matt Sellhorst
There is a powerful tool available to boat dealers and OEMs today that could be a game changer for the serious adopters. It could also leave the slow to grasp left high and dry.
That tool is artificial intelligence (AI) and it’s built-in free for your use in today’s digital marketing platforms.
The technology revolution of big data and AI is here. It’s no longer a futuristic pie in the sky theory and it’s available to those with the willingness and planning to put it to work for their business.
For the purposes of this column, let’s define artificial intelligence as machines doing cognitive tasks that humans used to do, but the machines are now doing them better and faster than us.
You’ve likely heard of doing market segmentation to enhance your marketing efficiency. On the more advanced level, a market research firm is hired to analyze your clients. It can be expensive, yet yields a valuable picture of who your most interested prospects are. This research enables you to select the right radio stations, magazines and even targeting for your digital marketing needs.
Now, consider that Facebook by some estimates has over 42,000 points of data on each of its users. It would be nearly impossible for even the best market research group to obtain and then analyze that amount and type of data.
“What type of data do they have?” you may ask.
Here are some broad categories: They know your friends and family, they know where you live, your job, what you like and dislike. But, they also know your income level, what websites you visit, where you go in the real world and a level of detail about its users that is unprecedented.
Once you shake off the creepy factor of this lack of privacy in today’s digital world, you can see the enormous opportunity.
Here’s what’s exciting for those serious about the future of their business. The ability to analyze and utilize that level of data is at your fingertips within the Facebook ads platform. It’s also important to note that Google and Bing have similar opportunities and similar amounts of data.
Imagine taking a list of your current clients and letting a computer analyze those roughly 42,000 points of data to determine which are the most relevant during the educational spectrum of boat buyer for your exact business.
Because of the AI available on Facebook, Google and other digital platforms they are able to build the most accurate and detailed buyer profile.
Now, instead of having market research telling you what your best prospect looks like and then having to apply that info in various advertising media, you are now able to utilize Facebook, Google or other platforms to do the work for you. From there, they will show your ads to the exact people most likely to buy.
Here’s where it gets even more exciting; over time, the AI gets smarter and smarter at finding your best prospects.
This AI gives pinpoint like precision in your marketing like nothing has in the past. Add the right strategy and creative and this could be a game changer for your boat business.
The question is, are you willing to tackle this opportunity and get started today? If you answer yes, this is for you.
This month’s challenge: The first step to utilizing the AI available on the various digital ads platform is to install the appropriate tracking code and pixels. For a video tutorial of how to install the Facebook Pixel and Google Tracking Code, email Support@BoatDealerProfits.com with “AI” in the subject line and we’ll send the video right way.
Matt Sellhorst is the founder of Boat Dealer Profits Marketing Agency and author of the only business building book for the retail boating industry, “Boat Dealer Profits; How the SPLASH System can help you sell more boats, make more money and have more fun.” Claim your free copy at www.BoatDealerProfits.com/freebook.