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How to Leverage ChatGPT for Your Small Business (March 2023)

Launched in late 2022, ChatGPT has been the talk of the town. This viral chatbot taps into a sea of information to craft well-constructed answers to prompts — in a conversational tone. This quasi-conversationalist can engage with users by providing instant responses that build off of each other. With its diverse capabilities, even the free version of ChatGPT is a powerful tool for your growing business.

OpenAI — the mastermind behind ChatGPT — acknowledges the limitations of its tool: “ChatGPT sometimes writes plausible-sounding but incorrect or nonsensical answers.” While it can find and present information, it is limited in its analytical and evaluative abilities.

ChatGPT on its own cannot rival the unique human perspective, but it can help offload certain tasks and kickstart brainstorming. Acting as your “24/7 personal assistant,” it can enable you to allocate more bandwidth to strategy and execution.

Here are five uses of ChatGPT for your small business:

Create a chatbot to offload customer service tasks

An effective chatbot can engage with website visitors and help drive lead generation via social media and email marketing.

In order to create a chatbot, you must sign up for a GPT-3 API key through OpenAI. This function minimizes the need for the chatbot creator to know programming languages. More information about the steps can be found here.

Draft promotional emails, captions, personalized customer messages

Sometimes the hardest part is getting started. ChatGPT can give you the initial draft of emails, captions, headlines, messages, and everything in between. After specifying your requirements, you can get a draft that is generally complete. It can be particularly helpful for diversifying your diction and sentence structure. Alternatively, you can use it to “adorn” your draft with a specific tone.

That said, avoid completely relying on ChatGPT for writing material. Because ChatGPT only has knowledge up to 2021, you will have to edit any drafts for timeliness. You also may have to modify the tone to reflect your unique brand.

Simplify information for comprehension

We live in a world with so much information yet so little time to process it all. ChatGPT can function as a “Sparknotes” for nearly any topic on the Internet. It can translate videos to step-by-step instructions, summarize articles, break down concepts in layman’s terms, and recommend further resources. This tool can take the legwork out of finding and understanding information, speeding up your path to action.

Generate customer surveys

Market research is incredibly important at every step of the process. With customer satisfaction being a moving target, ChatGPT can be helpful for generating customer surveys with marketing verbiage in seconds. You will need to tweak the survey to reflect your specific goals.

Brainstorm ideas… to some extent

Two heads are better than one. ChatGPT can be valuable when you are looking for new ideas on the go or are struggling to get started. Even if you do not end up using the AI-generated ideas, it can nudge you into momentum.

On March 14, OpenAI announced GPT-4 - the next version of the AI technology that makes ChatGPT possible. According to OpenAI, "GPT-4 is more reliable, creative, and able to handle much more nuanced instructions than GPT-3.5." The area of artificial intelligence is advancing quickly, and it's use in the products we interact with everyday is expanding. It's important for small business owners to stay on top of these technological advancements to stay competitive, both from a market opportunity and resource perspective.

Book a session with a Sagely Advisor to talk through what digitization and incorporation of AI may look like for your small business.

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