Company: Phyron
Founder: Johan Sundstrand
Website: https://phyron.com
About Phyron
The goal when Phyron launched in the UK automotive retail sector was to develop engaging video advertising solutions based on automation and AI technology that offer life-like presentations while making selling easier and more profitable for car dealers.
The company now counts over 3000 dealers as customers across 30 countries equating to 150,000 car ads currently carrying a Phyron video. Since January 2021, its customers’ car videos have been viewed more than 500 million times.
Seven years in the making, Phyron’s SaaS platform can elevate a dealer’s car-buying funnel, from website to marketplace to social media, with automated videos and enhanced stills – for less than the cost of a coffee per car.
Until now creating studio quality videos for every used car, uploading them to popular social media channels plus creating and optimising targeted advertising campaigns would have taken a huge team of people working flat out. Phyron’s fully automated AI powered software can do it all in minutes, with zero human input.
Commenting on Phyron’s work Peter Vardy, CEO of the Peter Vardy Group, said: “Best practical application of AI in automotive retailing of used vehicles. Huge quality improvements in imagery and content with incredible turnaround time.”
AI technology is already helping dealers speed up content production and automating the advertising process. They’ve achieved great results, too. Ads using automated videos receive on average over 50% more views and cars are sold three to five days faster.
According to Simpsons Skoda (UK): “Since integrating Phyron’s AI-driven videos we have seen a 24% uplift in sales. We are able to address a new market with dynamic video and image content while taking advantage of first party data without any manual work whatsoever which simply wasn’t possible before.”
With revenue up by more than 70% over the last 12 months, 2023 represented a year of unprecedented growth for Phyron. This has been spearheaded by the UK market, with the country now accounting for almost half of the company’s global revenue.
Phyron is already working with 1700-plus dealerships in the UK, and expects to double this number over the next 12 months. Indeed, July 2024 was a record month for Phyron in terms of new dealers added. To help achieve further growth Phyron is set to launch a new suite of products for the UK market over the next few months, and expects to employ at least 35 more people.
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