ChatGPT Guide for Startups: How to Harness the Potential of AI for Your Business  

  • AI
Mar 21, 2023
ChatGPT Guide for Startups: How to Harness the Potential of AI for Your Business  , image #3

What actual benefit can ChatGPT for startups serve?

Let’s leave it up to statistics: OpenAI, ChatGPT’s releasing company, has reported some data on the usage of their GPT models. In a blog post published in January 2021, OpenAI said that over 300 applications had been built using GPT in just a few months since its release. These applications were used across various industries, including education, finance, health care, media, and more.

Additionally, OpenAI has partnered with Microsoft to make GPT models available on Microsoft’s Azure cloud computing platform, used by businesses across various industries.

Where does it leave us?

Artificial intelligence and machine learning capabilities are evident allies of today’s startups’ business strategy and routine. They can assist you in business planning, pick proper research data within seconds, provide explicit information on any topic (systemized and understandable at once), or even write a copy – just to name a few at the start. Solutions that integrate and develop ChatGPT-based apps gain traction, all thanks to such software’s versatility and sophistication.

In this article, we will overview the ChatGPT usage for startups, covering the nuances and mechanics of this game-changing technology. We’ll use our expertise in machine learning and building a ChatGPT-based app to outline the best use cases for generative AI in different industries.

ChatGPT For Startups: Overview Of The Tool

ChatGPT is an artificial intelligence program that uses natural language processing techniques to understand and respond to human language. It has been trained on an extensive amount of data to understand language in a way similar to how actual people do. ChatGPT can respond to follow-up inquiries, acknowledge errors, refute false assumptions, and refuse inappropriate requests thanks to the dialogue structure – all solely based on data the program has been trained on. 

According to the ChatGPT itself (if you ask it), its purpose is to help people with various tasks, such as answering questions, generating text, translating languages, and even creating new content. Indeed: its talent spectrum goes way beyond maintaining the conversation, as the program can compose lyrics for a song, write a poem, generate a content plan, as well as a self-sufficient article.

There’s one key tip regarding using ChatGPT and startup growth: the more specific your request is, the better the result. For example, let’s compare two prompts for a similar task.

The first case is a simple non-detailed request for a company’s content plan:

The second is a similar request with more initial information:

Of course, a responsible professional should carefully proofread most of ChatGPT’s answers. Yet, overall, it’s a handy tool that saves both time and resource-intensive research hours, allowing the professional in question to focus on tasks that require more careful attention. In an outcome, working with artificial intelligence saves time, optimizes human hours, and eases the entry point regarding complicated issues.

ChatGPT For Startups: Where You Can Use It

Using ChatGPT for startup innovation is quite a new thing. There are five areas where this tool can unleash its full potential: those are customer service, lead generation, personalization, marketing, and content writing.

Area №1: Customer Service

Open AI’s automation and quick data systemizing come in handy when a client care agent needs to quickly answer the user’s request and provide relevant data.

However, it’s only the portion of requests that actually necessitate live agent’s attention. What can artificial intelligence do instead?

How To Use ChatGPT For Customer Service

How exactly can ChatGPT-based support save time for live agents?

Answering FAQ

A pre-trained program can provide customers with instant responses to common questions like product availability, pricing, and shipping information.

Technical support

ChatGPT or relevant software can help troubleshoot technical issues by providing step-by-step guidance for resolving problems or directing customers to appropriate resources such as FAQs or support articles.

ChatGPT for customer service usage
Product recommendations

Recommending products or services based on customer preferences, purchase history, or browsing behavior is another useful AI feature. This can help customers find what they are looking for quickly and easily.

Order status inquiries

Users can get updates on the progress of their purchases from ChatGPT, including anticipated arrival dates, tracking numbers, and shipping information.

Billing and account inquiries

ChatGPT can assist your clients with billing and account-related inquiries: those can be payment issues, subscription cancellations, or account updates.

Sales inquiries

Use AI to engage with potential clientele and provide information about products or services. This can drive sales and conversions by providing customers with personalized recommendations and guidance.

Escalating issues to human agents

There are issues machines still can’t handle. In this case, ChatGPT will triage customer inquiries and escalate complex issues to human agents when necessary.

ChatGPT can help client care service

There’s a gold mine of what one can use ChatGPT for early-stage startups. Today’s mobile development and ChatGPT API allow tailoring such a solution for any startup. Hence, let WeSoftYou be your technical partner in integrating such a ChatGPT API service: starting with consulting, we will deliver compliant and scalable software that will operate in natural language. Contact us to learn about the details.

Area №2: Lead Generation

According to a 2020 report by MarketsandMarkets, the global AI in the marketing industry is expected to grow from $6.5 billion in 2018 to $40.1 billion by 2025. Such statistics emphasize the growing usage of artificial intelligence in marketing operations, making its usefulness evident for multiple marketing directions: lead generation, market research, and content writing. Let’s start with the first.

Many startups use ChatGPT for startup market validation
Source: https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-in-marketing-market-3175268.html
How To Use ChatGPT For Lead Generation

Attracting new potential clients is one of the areas that stands exactly 50/50 between the human approach and machine and algorithms usage and automation. Surprisingly, modern AI solutions can help on both sides: let’s take a closer look. 

Chatbot lead generation

ChatGPT for startup customer acquisition capabilities can be used to create a chatbot for your website or social media channels that engages with visitors and asks qualifying questions to identify potential leads.

SEO keywords generation

Whatever your niche is, ChatGPT can be extremely helpful in conducting a technical task like this: while it takes hours for an SEO specialist to form a semantics core, with the help of artificial intelligence, this process might take as little as minutes. This is the principle ChatGPT for Software Developers [ChatGPT Guide for Software Developers] can be used: following the same logic, the program can generate code.

An example of using ChatGPT for lead generation
Content marketing

Leverage AI’s knowledge and skill to generate content that attracts potential leads, such as blog posts, ebooks, or whitepapers. ChatGPT can help you create content that addresses your target audience’s pain points and interests, and includes calls-to-action to encourage lead generation. While it will clearly require editing or proofreading, trusting ChatGPT with this task will both save your content writing team time and give them content ideas, giving this way a quality headstart.

Email marketing

Similar to the case above, ChatGPT can help generate personalized email messages that engage with potential leads and encourage them to take action. The machine can offer options of subject lines, body copy, and calls-to-action tailored to the needs and interests of each lead.

Social media marketing

Use ChatGPT to generate social media posts that attract potential leads and encourage them to engage with your business. Use the application to make posts that speak to the concerns and interests of your target audience while also being optimized for various social media networks.

Landing pages

Take advantage of AI to create landing pages that engage with potential leads and encourage them to take action. ChatGPT can help you create copy that speaks to your target audience’s pain points and interests and includes calls to action to boost lead generation.

Sales outreach

First and foremost, the sales outreach messages’ task is to engage with potential leads and encourage them to take action. ChatGPT can help you create messages tailored to each individual lead’s needs and interests, including relevant calls to action.

Area №3: Personalization

In business, personalization refers to tailoring products, services, and marketing efforts to meet customers’ needs and preferences. It allows companies to create more relevant and engaging customer experiences, increasing loyalty and driving sales. In practice, personalization can take many forms: related services include product recommendations, customized marketing messages or user experiences, personalized customer service, or individualized pricing.

According to Gartner, just 17% of digital marketing leaders use AI and machine learning throughout the whole function, while 63% still struggle with personalization.

Marketers can use ChatGPT for startup customer acquisition to achieve better personalization
Source: https://www.gartner.com/en/newsroom/press-releases/-gartner-says-63–of-digital-marketing-leaders-still-struggle-wi
How to use ChatGPT for personalization

In a few words, generative AI can give personalization, improved customer engagement and loyalty, and data-driven insights. Also, it saves time for professionals while handling a large volume of customer inquiries and personalization tasks simultaneously.

Product recommendations

ChatGPT can use customer data such as purchase history, browsing behavior, and preferences to provide personalized product recommendations. This can help businesses increase sales and improve customer satisfaction by providing relevant and useful product suggestions.

Content recommendations

Another thing AI can do for better personalization is analyzing customer data to provide personalized content recommendations, such as articles, blog posts, and videos. This can help you increase engagement and retention by providing your target audience with relevant and genuinely interesting content.

Personalized marketing messages

You can train an AI to use customer data to personalize marketing messages, such as email campaigns and social media ads. This way, you’ll increase conversion rates and improve customer loyalty by providing relevant and personalized offers.

Personalized customer support

ChatGPT can use customer data to provide personalized customer support, such as answering frequently asked questions and resolving issues quickly and efficiently. It can help you grow customer satisfaction and retention by providing customers with personalized and timely support.

Personalized UX

For a more individualized user experience, ChatGPT may evaluate client data to propose goods or content, alter layouts and styles, and create unique user interfaces. Giving consumers a personalized and seamless experience may help you increase engagement and retention.

ChatGPT for startup team building and management

While it’s an unusual use case, AI programs can help find a more personalized approach for your employees as well. As an entrepreneur, you’ll have to spot the best incentives for your team and try different management techniques relevant to young startups. ChatGPT can help you do it.

ChatGPT for team building and management use case example

Area №4: Market Research

The main contribution an automated solution like ChatGPT can bring to market research is the efficient processing of huge amounts of data. Accordingly, it opens gates for using ChatGPT for startup market validation, as well as other marketing activities. 

According to Grand View Research, the size of the worldwide alternative data market is anticipated to reach $143.31 billion by 2030, growing at a compound annual growth rate (CAGR) of 54.4% between 2022 and 2030.

How To Use ChatGPT For Market Research

Let’s see what open AI’s capabilities marketing departments can leverage in their work.

ChatGPT for lean startup methodologies

ChatGPT can help embody the lean startup method in several ways. Firstly, it can help validate the idea: by creating a conversational interface with ChatGPT, startups can gather feedback from potential customers and test the viability of new product concepts. Secondly, it’s personalization and customer support, which we discussed above.

Customer feedback

ChatGPT can help marketers gather customer feedback on a product, service, or overall customer experience. You can ask open-ended questions: for instance, what customers liked or didn’t like, and what they would suggest for improvement.

Competitive analysis

Use ChatGPT to gather insights on your competitors, such as what they are doing well or not doing well, and how your product or service compares to theirs. While collecting this information, you’ll get an unbiased result, which will enable you to look at the big picture impartially.

Product development

Gathering ideas and feedback on a new product or feature development is another ChatGPT’s skill. You can ask customers what they would like to see in a new product or feature, or get their thoughts on a prototype.

Brand perception

Use ChatGPT to gather insights on how customers perceive your brand. You can ask questions about what comes to mind when they think of your brand, what emotions they associate with it, and what values they believe it represents.

Use ChatGPT to gather insights on market trends and industry developments. For example, you can ask what customers are looking for in a product or service, what trends they see emerging, and what they believe the industry’s future looks like.

ChatGPT for market research
Demographic research

Let generative AI help you gather data on customer demographics, such as age, gender, location, and occupation. Ask questions about their personal and professional lives: this is how you will better understand who your potential clients are.

Area №5: Content Creation

A 2020 study by the Pew Research Center found that most social media content creators (64%) felt that the pressure to produce engaging content was a major source of stress, with many reporting feeling overwhelmed and exhausted.

Writer’s block ceased to be a privileged condition and can be faced by any writer producing content daily. To this extent, while AI writing apps may have their flaws as self-sufficient solutions, ChatGPT’s mission can be to help creators avoid burnout while still creating decent copies on a daily basis.

How To Use ChatGPT For Content Creation

Even though there are 30 AI writing apps on the Google Play market (as of March 2023), let’s take a look at what kind of content ChatGPT can be helpful with.

Startup pitch creation

While it’s the least obvious AI use case, it’s actually possible to use ChatGPT for startup pitch creation. The program can help you write the entire speech based on startup key elements and desired pitch sections you provide. Of course, you’ll have to edit and customize it, but the AI model can give a great headstart in this.

ChatGPT for startup funding

Indirectly, attracting funds is another use case for ChatGPT in terms of content creation: much like it is with pitches, it can help draft letters to venture capital funds, help research relevant tech conferences, and conduct other related functions.

Idea generation

Let AI generate ideas for new content topics. Input a broad topic or question, and let ChatGPT generate a list of related ideas to inspire your content creation.

ChatGPT can be useful in content creation
Outlining

Use ChatGPT to create a detailed outline for a piece of content. Offer a high-level idea, and the program will generate a detailed outline to guide your writing. 

Drafting

Create a rough draft of a piece of content using ChatGPT. Give it your overall thoughts or plan, and let it fill in the specifics. By the way, this is how it’s possible to use ChatGPT for project managers: it can help generate project documentation, assess potential risks associated with the project, and do many more related tasks.

Personalization

ChatGPT can personalize content for different audience segments. Input specific details about the audience, such as their location, interests, or industry. Next, watch it generate personalized content tailored to your clientele’s needs.

Social media updates

Use ChatGPT to generate social media updates, such as tweets or Facebook posts. Input a topic or idea, and AI will generate short and snappy updates optimized for social media.

Product descriptions

Create product descriptions for e-commerce websites using ChatGPT: it will develop precise and succinct product descriptions that highlight the qualities and advantages of the product using the product’s specs and information.

If you are a product manager developing a digital product, read our guide to learn how ChatGPT for Product Managers [ChatGPT Guide for Product Managers] can make your work more efficient.

ChatGPT For Startups: Conclusion

At its core, ChatGPT in startup development is a beneficial tool that saves time and resources by cutting down on hours of labor-intensive research. It allows the responsible employee to concentrate on tasks that need more attention or creativity. For instance, if you are a startup owner, you can focus on the nuances of startup growth you didn’t use to be familiar with. However, the majority of ChatGPT’s responses should be thoroughly reviewed: by an experienced specialist (if you have already employed such people) or by your own critical thinking.

Working with artificial intelligence ultimately reduces time spent in human hours, making complex problems easier to approach. You can leverage all the potential of modern artificial intelligence and machine learning capabilities today: the best way to do it is custom ChatGPT-based app development, which will be tailored to your business and clients’ needs. We provide initial advisory, as well as different kinds of AI-based services development, be it an MVP or fully scalable product. Talk to the WeSoftYou team about your idea to find out what solution might work best for you and get a price estimation.

FAQ

What is the ChatGPT program?

Developed by OpenAI and released in November 2022, ChatGPT is an artificial intelligence robot. It has been developed on top of the OpenAI GPT family of big language models and fine-tuned (a method of transfer learning) using both guided and reinforcement learning strategies.
On November 30, 2022, ChatGPT was introduced as a prototype. It rapidly gained notoriety for its thorough responses and well-spoken comments in a variety of subject areas. However, a major disadvantage has been noted regarding its inconsistent factual truth. OpenAI’s value was predicted to reach US$29 billion in 2023 after the introduction of ChatGPT.

What are the benefits of ChatGPT?

This program can be applied in different spheres, helping numerous professionals in different industries: for instance, you can use ChatGPT for startup pitch creation and other startup growth stages. In this case, the program will generate a ready speech, presentation, text, script, or other related content items, which you will only have to edit slightly, and which will smoothly guide you into the process.
Overall, for entrepreneurs, ChatGPT benefits include content creation and systematized delivery of information.

Where can I use ChatGPT?

ChatGPT can be applied in a wide range of industries and use cases, including:
– Customer service (provide quick and accurate responses to customer inquiries)

– Education (provide educational content and assistance to students, including answering questions, providing feedback on assignments, and generating study materials);

– Healthcare (enabling medical information and assistance to patients, including answering questions about symptoms and treatments, scheduling appointments, and providing medication reminders);

– E-commerce (provide personalized recommendations to shoppers based on their browsing and purchase history, as well as to answer questions about products and services);

– Marketing (help conduct market research, write email marketing messages, test branding);

– Content creation (generate text content like blog or SM posts, articles, email campaigns, lead magnets, white papers, and so on);
et cetera.

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