Creative Ways to Use ChatGPT for Your Online Marketplace Strategy
ChatGPT can produce marketing copy and engage in conversational dialogue, among other uses. Can the artificial intelligence tool help increase online marketplace sales too?
People have been talking about artificial intelligence (AI) as a technology for the future. Without a doubt, the future has arrived as more AI tools are now available for everyone to use. We have Google’s LaMDA and BERT, Meta’s BlenderBot, and OpenAI’s Dall-E. The most recent AI tool that’s at our disposal is ChatGPT.
ChatGPT caused a commotion upon its release in late November 2022, amassing one million users in five days. What exactly is this new AI application that everyone is talking about, and how can it impact the online retail industry?
What is ChatGPT?
ChatGPT is a language generation model that can understand and respond to natural language input. With the promise of delivering technology capable of conversing with humans, OpenAI trained the model to reply with long texts, answer follow-up questions, admit its mistakes, and challenge incorrect statements.
OpenAI built ChatGPT on its GPT-3 (Generative Pre-trained Transformer 3) platform. With its training including books, articles, and websites, ChatGPT covers extensive information across the internet. As a matter of fact, it has over 175 billion parameters and 570 gigabytes of information in its system. ChatGPT also has other AI tools built in, including one that follows instructions verbatim and another that learns from human feedback. Because of all that, ChatGPT can go beyond predicting what the next word will be to understanding human intent and providing answers that meet human expectations.
Can You Use It in Online Retail?
All things considered, AI has a massive impact on various online businesses. The technology helps marketers identify trends, target specific customers, and optimise campaigns. For example, chatbots can provide personalised customer service. AI can also automate time-consuming tasks such as website optimisation, email marketing, data analysis, and content creation.
In short, the uses of ChatGPT are almost limitless. It can be of use across various industries, and online retail is no exception.
4 Ways to Use ChatGPT for Your Marketplace Strategy
The applications for online retail are numerous, particularly in content production. Here are four examples on how to use ChatGPT for marketplaces.
- Product descriptions: Use it to generate product descriptions that showcase the unique selling points of an item. ChatGPT can produce descriptions that inform customers about the technical aspects of the product using engaging language and persuasive storytelling to encourage shoppers to make a purchase.
- Social media content: If social media is part of your marketing strategy for your marketplace store, then ChatGPT can help generate content. When you’re planning to launch a new product or run a promotional campaign, the AI tool can create a post which can include a catchy caption for a product photo.
- Email marketing campaigns: Email marketing helps build and foster relationships with your customers. When you send relevant emails to your customers, you can create personalised experiences to help build loyalty.
- Customer support: Most customers want to get quick answers to their queries. With this in mind, you can use ChatGPT to help with customer service inquiries such as stock levels, product availability, estimated delivery dates, returns, and more. When you efficiently attend to your customers, they can feel that you value their time.
The Pros and Cons of Using ChatGPT
One of the biggest benefits of using the AI tool for content production is improving staff productivity. Rather than writing everything from scratch, marketplace retailers can generate product descriptions, social media content, and marketing campaigns in a matter of seconds. As a result, ChatGPT can free up time for other important sales, marketing, customer service, and growth activities.
While ChatGPT can produce engaging content, the tool is not perfect and still needs human supervision. To emphasise, it’s not yet at the level to put people out of work. It just makes your entire operation more efficient.
The first thing to remember is that ChatGPT’s knowledge is still limited to 2021 data. It means that if you put out a product that’s new to the market, then the content the AI will generate is likely irrelevant or even inaccurate.
For example, Alphabet shares recently took a $144 billion dive after Google’s AI chatbot BARD generated an error in its ad content. If someone had taken the time to check facts before the ad went up, then the loss could have been prevented. Imagine the potential losses to a small business if the AI-generated product descriptions aren’t up to compliance standards.
Other areas that ChatGPT misses the mark include failure to recognise slang, jargon, and idioms as well as inabilities in providing insights and direct answers. Given these points, you need someone who is well-versed with the tech and understands its nuances to write prompts, check facts, and edit answers before uploading any content to your marketplace store.
Talk Content and Strategy with Ozzca
While ChatGPT and other AI content tools can increase efficiency with some tasks, they aren’t meant to be the go-to for your marketplace content. You still need a marketplace champion with expertise in optimisation, tech integrations, and compliance, among other things. This is to ensure that you’re publishing product descriptions and marketing content that’s informative, factual, and engaging.
If you need help in any of these areas, then let Ozzca be your marketplace sidekick. Book a consultation today.