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    08/03/2023 |

    HubSpot’s ChatSpot Is The New Generative AI Tool for Business Growth

    If Paul Revere existed in 2023, his famous catch phrase might have involved less “British” and more “generative AI.” While “generative AI is becoming more ubiquitous!” isn’t as catchy as “the British are coming!” it is accurate.

    As AI grows more sophisticated, its use cases expand by the day. Software that businesses use regularly will soon incorporate forms of generative AI that enhance efficacy and productivity.

    The widely known (and loved) CRM and growth platform HubSpot has debuted its generative AI-powered assistant ChatSpot to support sales and marketing efforts. ChatSpot uses ChatGPT technology alongside unique data sources, including HubSpot CRM, to help growth teams optimize their time and reach more customers.

    Whether you’re a HubSpot user or not, this new development is exciting. ChatSpot demonstrates what’s currently possible with generative AI and gives a glimpse into the future.

    Let’s look at ChatSpot’s capabilities, how generative AI widens growth opportunities and what this means for your business.

    What Is HubSpot’s ChatSpot and What Can It Do?

    ChatSpot is a suite of generative AI tools designed to help your sales and marketing teams get more done, faster. It works best alongside the HubSpot CRM, but it’s still handy even if you aren’t a HubSpot client.

    Undoubtedly, HubSpot will continue to add new features and functionality to ChatSpot, but it’s already helping growth teams accomplish more now. Here are some of its current functionalities:

    • Sales Prospecting: ChatSpot comes with templates that help you identify opportunities with the specs of your choice. Simply fill in a few key details and ChatSpot will do the rest.

    • Content Generation: Instantly draft blogs and social media posts and create AI-generated images in just a few clicks. And don’t worry – you can ensure that ChatSpot emulates your brand voice and style by providing content samples in the settings.

    For example, ChatSpot’s blog generator wrote the following paragraph using samples of Square 2 blogs as style inspiration:

    Businesses generate massive amounts of data every day, but extracting meaningful insights from this data can be challenging. AI empowers businesses to efficiently analyze vast datasets, identify patterns and make data-driven decisions. With ChatSpot, businesses can analyze customer interactions, identify trends and gain valuable insights into customer preferences and behaviors. This enables companies to tailor their products and services, optimize marketing strategies and improve overall business performance.

    Pretty cool, right?

    • Reporting and Insights: Analyze prospects, customers and competitors with AI-generated reports on location, technology used, industry, company, size, funding and more.

    • SEO Strategy: ChatSpot AI supports your SEO efforts by discovering keywords, analyzing phrases and diving into competitor strategies.

    The Benefits That ChatSpot and Other Generative AI Will Bring Businesses

    Solutions like ChatSpot are not just for fun – they offer real benefits that business leaders are beginning to recognize. Research indicates that 90% of commercial leaders expect to use generative AI solutions often over the next two years. Further, players that invest in AI are seeing a revenue uplift of 3% to 15% and a sales ROI uplift of 10% to 20%.

    To give a clearer picture of ways that generative AI can support revenue growth, consider how it could benefit a business:

    • Increased Productivity: AI reduces time on admin tasks so your team can focus on customer relationships and growth strategy.

    • Reduced Costs: AI can take on lots of work, so you’ll spend less on labor and overhead costs.

    • More Insightful Reporting: AI can assist with more fine-tuned and granular reports and recommendations.

    • Better Sales Effectiveness: Sales teams can leverage generative AI to reverse admin creep, enhance customer relationships through AI-generated recommendations and assist sales managers with reports, planning and strategy.

    • Enhanced Buyer Journey: AI can automate A/B testing, dynamic content and personalized offerings based on relevant buyer data and predictions.

    • Better Customer Experience: Customers can get answers faster with AI-powered chatbots to help with simple user questions. This frees up the support team to have more face time with customers and focus on the most urgent cases.

    How to Prepare Your Business for the Road Ahead

    If this all seems like a lot to digest, it’s OK. Technology has rapidly changed over the past few years, and it can all feel overwhelming. While generative AI stirs up lots of questions and possibilities, it’s best to think of it as another strategic tool in your tool belt.

    The good news is there’s time to build a generative AI game plan to support your business growth. A HubSpot partner can work with your team to identify opportunities for your organization. Start small and roll your AI strategy out in phases, if necessary – it will pay off in the end.

     

    Olivia Williams

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