ChatGPT for sales

March 31, 2023

According to a study by HubSpot, sales representatives spend only one-third of their time on selling, with the rest of the time devoted to non-selling tasks which usually means data entry, reporting, internal meetings, and other administrative work. 

Though we do call them non-selling tasks, most of them are often essential for the functioning of the sales and other customer-facing teams. Having said that salespeople often find themselves bogged down with administrative tasks, which essentially means less time spent on selling activities.

What is ChatGPT?

We asked ChatGPT, what it was and this is what it came up with. 

ChatGPT is an AI-powered language model developed by OpenAI, based on the GPT (Generative Pre-trained Transformer) architecture. It is designed to generate human-like responses to natural language input and can understand the context and generate responses that are coherent and relevant to the input. ChatGPT has been trained on a massive amount of text data and has the capability to understand and generate responses in a wide range of domains and topics. ChatGPT can be used for various applications, including natural language processing, chatbots, and language translation.

Essentially, ChatGPT is an AI tool, a chatbot that understands human language and uses its access to an insanely large amount of data to answer your questions as a human would. This means the content or analysis would have taken a person days of research, context, and understanding to create ChatGPT can do that for you in a matter of minutes. 

Benefits of ChatGPT for Sales

  1. Save time:  With ChatGPT, you can get instant answers to their questions wrt the current or older meetings which then can be used for MoMs, summaries or to understand customer requirements, freeing up time to focus on selling activities and building relationships with customers.

  2. Improved Sales Performance: ChatGPT can help you identify areas of improvement in the sales process and the sales conversation itself. Helping you implement changes and improving conversions.

  3. Better Customer Experience: By analyzing customer feedback, you can identify trends and make informed decisions that can improve the customer experience and increase customer satisfaction.

  4. Increased Sales Productivity: ChatGPT can help sales teams automate tasks, reducing the time and effort spent on administrative work for example an integration between your calling solution, ChatGPT based Meeting intelligence solution and CRM would mean that ChatGPT can take care of adding customer information in to the CRM, leading to increased productivity and better results.

ChatGPT for sales - MeetRecord -ChatGPT integration

Understanding what ChatGPT can do and what most salespeople are bogged down with in terms of administrative tasks. 

This to name a few includes,

  1. Data Entry: This includes entering data into a CRM (customer relationship management) system or other databases to keep track of leads, customer information, call summary, feedback, and sales activities.

  2. Reporting: Salespeople may need to generate reports for their managers, providing updates on their sales activities, performance, and progress toward targets.

  3. Email Communication: Think post-call follow ups, MoMs that the client might need, or sharing links to the demo or other documents.

  4. Internal Meetings: Salespeople may need to attend internal meetings with colleagues 

We realized we could use ChatGPT to automate most of them and do it almost instantly. 

MeetRecord and ChatGPT integration

MeetRecord enables sales professionals to record and transcribe their sales meetings, and ChatGPT's advanced NLP capabilities enable them to ask ChatGPT to create MoMs, write follow-up emails, extract customer requirements, and find areas of improvement for them.

Here is how it works,

Research by McKinsey & Company suggests that sales teams that effectively use data and analytics can boost their sales productivity by up to 15%. 

By using MeetRecord and ChatGPT, sales teams can leverage data to extract insights from their recorded sales meetings, analyze their sales process, and identify areas for improvement.

Moreover, this integration can help sales professionals automate tasks such as writing follow-up emails, predicting the likelihood of closing a deal, analyzing the performance of the sales team, identifying areas of improvement, and analyzing customer feedback.

10 ChatGPT prompts

That you can use to help your sales team optimize performance and automate redundant tasks.

  1. Write follow-up email :-
    Prompt - Can you write a follow-up email based on the call?

  2. Will the deal be closed?
    Prompt - What is the likelihood or probability that the deal will be successfully closed?

  3. Check how the salesperson performed
    Prompt - How did [salesperson name] perform on the calls in terms of answering customer queries?

  4. How to improve performance on call
    Prompt - How can {salesperson name} improve their performance on sales calls?

  5. Check meeting status
    Prompt - How did the meeting go, what can be improved upon?

  6. Find which feature is discussed the most
    Prompt - Which feature or product benefit was discussed during the call?

  7. Look for competition
    Prompt - Which competitor was discussed the most during the calls?

  8. Find the best lead source
    Prompt - How did the customer find out about [company name/product]?

  9. Find most frequently as customer questions
    Prompt - What are customers' most frequent questions about our product?

  10. Capture customer feedback
    Prompt - What is the most common feedback from the customer?

The integration of MeetRecord and ChatGPT offers a powerful combination of meeting recording, transcription, analysis, and AI-powered language processing capabilities that can help you extract valuable insights from your meetings. By using the ChatGPT prompts within your MeetRecord account, you can save time, improve productivity, and make informed decisions. 

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