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ChatGPT lets you drive business growth: Top prompts for aspiring entrepreneurs

When ChatGPT was first launched, it was hailed as a game-changer. And lo and behold, only a few months later it’s already being integrated into workflows across various businesses, helping humans focus their energy where it matters and resultantly work more efficiently. But did you know that it can also be used to grow these businesses?

If you are a first-time entrepreneur looking for a way to grow your business, you might want to leverage the power of ChatGPT to streamline your customer service, generate leads, boost conversions, and build loyalty. We’ll show you how in this article.

Finding the right tools

Before we get started, it’s important to note here that the following prompts require the chatbot to be plugged into the internet, which is something the free ChatGPT lacks. While you can still use that chatbot as is, it’s highly recommended to either subscribe to ChatGPT Plus or use alternate tools like Bing Chat or ForeFront AI for the prompts below.

Finding the fastest-growing industries in a location

If you have the capital but are unsure about what line of business to get into, ChatGPT can help by simplifying the task of market research that would otherwise take days. The AI chatbot can gather information about the fastest-growing industries in your area, which you can use to come up with an idea for a successful business.

Prompt: “Identify the top 10 fastest-growing industries in the past year in <your location> and recommend ways to enter these markets.

Discovering customer pain-points

Even the most successful of businesses have their share of criticisms and poor reviews. Identifying those can be crucial if you wish to please your customers by fixing shortcomings and build loyalty for your brand. ChatGPT can pull reviews for your business from multiple platforms and hand them over to you on a plate.

Prompt: “Identify current customer pain points for <your business niche> by analysing recent online reviews.

Finding best email marketing practices

Email marketing is an excellent low-cost method to drive engagement and conversions. In fact, it sits at the bottom of the list in terms of expenditure, with the lowest cost per conversion. But just because it’s easy doesn’t mean it’s cheap. ChatGPT can help you draft marketing emails highly specific to your line of business if you feed it your company’s description.

Prompt: “Search for the most successful email marketing campaigns in <your industry> and suggest ways to adapt their strategies.

Competitor monitoring

It doesn’t matter what industry you are dipping your toes in, knowing your possible competitors is essential. It helps you know what you are up against and is crucial to ensure that none of the competing businesses pulls ahead of you. ChatGPT can help you provide insights, which you use to perform a competitive analysis and revise your business plan accordingly.

Prompt: “Monitor online discussions about <your company name> competitors and provide insights into their strengths and weaknesses.

Identifying trending hashtags & keywords

Using trending hashtags and keywords helps your post ride the wave and get seen by a lot more people. Your post can even be seen by people who aren’t necessarily a part of your target audience, resulting in better brand awareness. ChatGPT can generate those for you in a jiffy.

Prompt: “Identify trending hashtags and keywords in <my industry> and use them to create 10 social media posts.

Optimising Google Ads

Whether you are a unicorn startup company or a small restaurant, Google Ads can help reel in more customers. But if paired with a poor advertisement strategy, Google Ads can quickly turn expensive. The best way to formulate an effective plan is by studying what other folks are doing. ChatGPT can help with that.

Prompt: “Analyse the top-performing Google Ads in <my industry> and suggest ways to improve ad copy and targeting.

Connecting with influencers

Influencer outreach is the process of connecting with influential people who can promote your brand, product or service to their audience. It can be used to grow a business by increasing brand awareness, generating leads, driving traffic, and boosting sales.

Prompt: “Identify the most influential YouTubers and bloggers in <your industry and location> and suggest ways to approach them for collaborations.”

Consumer behaviour insights

ChatGPT can help pull consumer behaviour insights and convert them into strategies by helping you understand what customers in your industry are purchasing and what influences their choices.

Prompt: “Find the latest research on consumer behaviour and preferences in <your target market> and suggest ways to profit from these insights.

Pricing strategy analysis

No one likes buying an overpriced product, but having a big heart and pricing your product too low can translate to missed revenue. Using ChatGPT, you can determine the best price for a product that will maximise both customer satisfaction and profits.

Prompt: “Find the most effective pricing strategies for <your type of product> by analysing competitors in <your location>.