30 Minutes to President's Club | No-Nonsense Sales
149: Selling with ChatGPT (Sonny Round, Director of Global Sales Development @ Panopto)
Wed Jun 07 2023
- Sonny Rao, an SDR leader at Pena, discusses the use of chat GPT in sales.
- Sonny provides free chat GPT prompts and queries in the show notes.
- The actionable tactic by Prolific is to never stop threading and continue prospecting until you have someone who will shop you around.
- Clary Co-pilot offers a sales tip to avoid over or under answering customer questions.
- ZoomInfo suggests attaching yourself to a problem that arises from a company acquisition instead of just pitching your tool.
- Gong recommends turning a problem into a story on a discovery call to get more information from prospects.
- Sonny's top three actionable takeaways include understanding your ideal customer profile and keeping it up-to-date.
Ideal Customer Profile (ICP)
- The speaker shares a three-step process to ensure that the Ideal Customer Profile (ICP) remains relevant and up-to-date with current market trends.
- Step one involves creating a report of close one opportunities in the last year from Salesforce or CRM, adding contact titles as a field, and exporting the information. This list is then plugged into Chat GPT to create a table that separates out the list by roll hierarchy and roll type.
- Step two is to load the top of funnel with the right prospects using enriched and generated prospects from LinkedIn search built with recent ICP. It's important to keep an eye on KPIs at the top of funnel and make sure they align with goals.
- The speaker suggests measuring unique prospects being reached through FTV (first touch of value) metric, which measures unique prospects put into sequence and completing step one call or email in a given week.
- To reach a goal of 10 meetings in a month, for example, it's necessary to generate 25 replies by reaching out to 250 unique people or prospects at the top of your funnel every month.
- Reverse engineering out of your funnel is a key strategy for outbound prospecting.
- AB testing is fundamental to growth philosophy and tactics, and it's important to measure the effect of changes on outcomes.
- AB testing can be used for email messaging, subject lines, email signature, time of day for sending emails, etc.
- A/B testing should be reviewed regularly to make changes based on data.
Chat GPT in Sales
- Chat GPT is an AI-enabled chatbot that can help compose messages based on different phrases or queries.
- Chat GPT has multiple use cases in the world of prospecting.
- Chat GPT can induce creativity and is effective in A/B testing for messaging.
- It can be used to rewrite messages with a focus on brevity, sales creativity, or generating subject lines for emails with a focus on open rate.
- Chat GPT can generate sales-focused replies to prospects' responses with an emphasis on booking follow-up meetings.
- Market research and competitive analysis are other effective use cases of Chat GPT.
- It learns from what you give it, making it useful in streamlining the research process by analyzing 10Ks of public companies to identify their biggest risks and highlight how your product solves them.
- At the contact level, Chat GPT can be used to craft personalized messages based on prospects' responses.
Using Chat GPT Effectively
- Research individual prospects by reviewing their LinkedIn, past experience, skills, and posted content to write a personalized message that relates to them.
- Use Chatty PTA to generate title matrices for identifying the right types of people to reach out to.
- Nurture prospects from on-the-fence objections to booking a meeting by sharing value about how your company can help theirs.
- Use ChatGPT effectively by inputting a reply from a prospect and asking it to generate a sales-focused response with an emphasis on booking a follow-up meeting.
- Prompt ChatGPT to focus on brevity or rewrite long responses using the HemiWay app for readability at a fifth-grade level.
- Sixth-seventh grade level is an effective target for email responses.
Customizing Chat GPT
- Chat GPT can be given rules to operate by, making it more effective.
- It can generate sales emails based on a set of golden rules for writing an email.
- If the first response is not satisfactory, there is an option to regenerate a different response.
- Different inputs can be given to prompt Chat GPT to rewrite with a specific focus or tone.
- A template for a sequence or cadence can be copied and pasted into Chat GPT to generate a version tailored to the company's product.
Limitations and Other Use Cases of Chat GPT
- Using a sequence template, companies can generate tailored and coherent products.
- Prompting instructions may need to be adjusted to get the desired result.
- Chat GPT is effective at summarizing, enhancing data, sorting through information, generating new messaging and ideas, and inspiring creativity.
- Chat GPT is not effective at automating the entirety of a sales funnel or connecting tool sets for building automation.
- Chat GPT is useful for taking complex data and generating usable information from it, such as making a recap email from a call recording transcription.
- There is a limit to the amount of characters that can be input into Chat GPT (3000 or 8000).
- Chat GPT can also be used for generating content in everyday life, such as writing cease and desist letters or last wills and testaments.
Taking Action in Sales
- Salespeople should avoid expecting others to do the work for them and take action using available tools and information.
- Chat GPT can be fed with research to write emails and handle objections in prospecting.
- The email generated by Chat GPT can be tweaked or rewritten using tools like Hemingway.