4 min read
AI has taken the world by storm. Its intelligence is remarkable, as many people think and worry that AI will make their careers and work obsolete. But if you take it positively, it can help you to take your business to the next level.
Gary Huang, CEO and the founder of the 7-Figure Seller Summit 8, believes that AI and chatGPT can help e-commerce sellers grow if used efficiently. If used effectively, it can help boost your business, increase your profitability, and can help transform workflow in time-saving.
To give tiny businesses a competitive advantage, Huang recruited 20 experienced sellers to share their work and reviews to use AI.
“AI is a game changer. It’s almost like an asteroid has just hit planet Earth,” says Huang. “Millions of years ago, many of the animals, like the dinosaur, became extinct because they didn’t adapt, whereas some of the little mammals were able to adapt, survive and even thrive.”
As per Huang, AI is a game changer and can help boost business as it is helping organizations in many ways. Many people still need to incorporate AI into their daily routines. In a survey of 220 e-sellers, 58% said they must familiarize themselves with AI and its effectiveness. After completing comprehensive research, he realized that a seller could save about 1,000 a year using these technologies once familiar.
He followed the footsteps of Andrew Erickson, CEO of Andrew Knows Amazon, who recommends spending 10% of the time on AI projects guiding the technology, doing 80% of the project, and 10% polishing the work. “It still requires a human touch.”
Here we share the three effective ways Huang shared that non-techies can easily use AI and chatGPT in an e-commerce business.
Gamechanger#1:Bringing Your Invention To Life.
Any e-seller needs a considerable amount to hire a product designer with the perfect background. He needs a professional with the proper skill set and design sensibility. “There would be some back-and-forth iterations and drawings, and that would take a lot of time and money, with no guarantee the final design is Exactly what you had in mind,” Huang said.
On the other hand, if AI is used efficiently, a seller can save time, money, and effort and have outstanding results. Using chatGPT and the generative AI tool MidJourney to create a product design. The initial phase is to create a product brief. “You can use AI to look at competitors’ reviews, to find out their strengths or weaknesses, and look at your product to find ways to improve your product compared to their weaknesses,” says Huang.
Using MidJourney help you speed up the product design significantly, says Huang
“The old way may have taken thousands of dollars and weeks to get that product design, but with Mid-Journey and chat GPT to create prompts for Midjourney, you can create this in a couple of hours,” says Huang. “So it’sit’s significant time savings and growth opportunity because you’re short-cutting the product development cycle from weeks to hours or even days.”
Gamechanger#2: Writing Product Listings
It takes a lot of work to write the perfect product listing and manage it accordingly. Entrepreneurial visionaries are not necessarily natural copywriters.
As a result, ” with a lot of the listings, especially on Amazon, it looks like they’re only about 30% of what they can be,” he says. “Now, with tools like chat GPT, you can optimize your listings with keywords to be Amazon SEO optimized, and you can do that in minutes. That will save you time and increase your conversion rate and sales.”
Gamechanger#3: Improving Profitability
Achieving $1 million in revenue is an extraordinary goal that everyone wants to achieve. But it is only achievable to keep the expenses and taxes less.
“In terms of profitability, ChatGPT can be a good partner to look at ways that you can improve your profit margins and manage your pay-per-click, advertising campaigns, and supply chain,” says Huang. “With sourcing, you can use chat GPT to write a negotiations letter to your supplier for a better price. That would cut down on your landed cost—and immediately goes to your bottom line.”
As per Huang, the tiny business, the million-dollar, one-person company, can do so much more now. You can do 30% or even 50% more with chat GPT as a co-pilot. You’reYou’re going to be able to go much farther, much faster, in the same amount of time.
Hence, using chatGPT and other AI applications will help you take your business to the next level in less time and provide more productive results.
Read more:
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