AI is all the rage.
If you’re thinking what we’re thinking, there is no way that this doesn’t change the game of wholesaling, in some fashion, over time.
At Wholesaler Masterminds® we have have been leaning all the way into the technology to bring you these ideas to enable you to apply AI to your practice.
Here’s some of what we’ve learned so far – and there’s sure to be so much more to come.
Contents (jumps to section):
Wholesaler Use Cases:
More To Consider:
We’re just getting started, so be sure to check back from time to time to see what we may have added.
As always, our number one objective is to help you move from good wholesaler to great wholesaler.
What Will AI Impacts Be On Wholesaling?
- Lead Generation: AI algorithms can analyze vast amounts of data to identify potential leads based on their online behavior, preferences, and needs. This makes it easier for wholesalers to target the right audience and prioritize their efforts.
- Personalization: AI-powered tools enable wholesalers to personalize their approach and communication by analyzing a prospect’s behavior, interests, and preferences. This helps create tailored sales pitches that resonate with the audience.
- Time Management: AI can automate mundane tasks such as data entry, appointment scheduling, and follow-up emails, allowing wholesalers to focus on building relationships and closing deals.
- Sales Forecasting: AI can analyze historical sales data, market trends, and customer behavior to provide accurate sales forecasts. This helps wholesalers better allocate resources and prioritize their efforts.
- Improved CRM: AI-powered Customer Relationship Management (CRM) systems can automatically update customer information, track interactions, and identify opportunities for upselling or cross-selling, making it easier for wholesalers to manage their pipelines.
- Sales Coaching: AI can analyze the performance of wholesalers and provide personalized coaching, feedback, and training resources to help them improve their skills and close more deals.
- Sentiment Analysis: AI tools can gauge the sentiment of a prospect or customer through their written or verbal communication, helping wholesalers adapt their approach and respond effectively.
- Sales Analytics: AI can analyze large sets of data and identify trends, patterns, and correlations that can inform sales strategy and tactics. This helps wholesalers make data-driven decisions and uncover hidden opportunities.
- Chatbots and Virtual Assistants: AI-powered chatbots and virtual assistants can handle initial customer inquiries and qualify leads, allowing wholesalers to focus on more high-value interactions and closing deals.
- Competitive Intelligence: AI can monitor and analyze competitor activities, product offerings, and market developments, helping wholesalers stay ahead of the competition and adapt their strategies accordingly.
Productively Using ChatGPT
Sign up at chat.openai.com
At the heart of ChatGPT is the inquiry that you submit, called a PROMPT.
Bad prompts = bad output = unimpressed/frustrated user.
Large Language Models like ChatGPT are extremely powerful, but are built in a way that encourages people to use them in the wrong way. When I talk to people who tried ChatGPT but didn’t find it useful, I tend to hear a similar story.” Ethan Mollick
With the proliferation of ChatGPT, it follows that there is no shortage of experts and guides.
Here are a couple of resources we recommend:
Ethan Mollick is a professor at the Wharton School of the University of Pennsylvania. He studies entrepreneurship & innovation, as well as how we can better learn and teach.
In this guide he “wants to try to show you some of why AI is powerful, in ways both exciting and anxiety-producing.”
“How to Use AI to do Practical Stuff: A New Guide”
With a hat tip to our friends at Coinflip Marketing for the lead, this guide will make you head explode.
For a total of $1 you get 128 (and counting) ChatGPT guides.
From the authors’ About section:
Who the hell am I?
I started sharing (stupid) posts on Linkedin on the 1st May 2022.
In November 2022, I was sending (stupid) poems using a little chatbot that just got released. Something called “ChatGPT”. You might have heard of it.
From January to March 2023, I started sharing (not so stupid) carousels to my community. I reached more than 14M people, and attracted close to 100k followers.
Get the The Complete ChatGPT Prompt Pack and/or follow the author at LinkedIn: Ruben Hassid
Wholesaler ChatGPT Use Cases
Creating Emails - PVP
What if your PVP-Peerless Value Proposition® was assisting advisors with capturing the emerging wealth of Millennials?
What if you wanted to craft a quick email to demonstrate your competency in this area, and ask for an appointment?
What if you used ChatGPT to help mold that email?
Are you familiar with This Month In History birthday cards?
Well, how about creating a This Day in History personalized email, customized for your client, based on the DAY of birth?
This step-by-step guide will show you exactly how to do it!
Recently I was speaking to a wholesaler who was inquiring about Wholesaler Masterminds® Copywriting. He expressed his lack of creativity when it came to email subject lines (so, so important as you know).
One remedy is to use ChatGPT – the question is: How to use ChatGPT EFFECTIVELY to write subject lines that you can use?
Are all of these homeruns? No.
Are they a great start towards using a subject line that gets your email opened? I’ll let you be the judge.
BTW: If you need help crafting emails that get opened, read, and replied to we have you covered at Wholesaler Masterminds® Copywriting
Use ChatPDF to Both Summarize and Ask Questions From Full Length PDFs
Upload a full length PDF document to ChatPDF.
Once uploaded you can ask questions regarding the content of the PDF.
In this video we have used a full length (15-page) Merrill Lynch Viewpoint monthly report.
The Free version of ChatPDF currently offers:
- Up to 120 pages/PDF
- 10 MB/PDF
- 3 PDFs/day
- 50 questions/day
Summarizing Lengthy Text
Let’s say you call on Merrill. And, as a great wholesaler, you’d like to stay abreast of the Monthly CIO Viewpoint so you can align your discussions with the global Merrill outlook.
Here’s the report: Merrill Viewpoint
PROBLEM: Like most wholesalers you are awash in reports (and a ton of other stuff) to read.
So, here’s what you can do:
Tell ChatGPT-4 (it’s called a “prompt”) to: Summarize this article. Your output should be in bullet point format.
COPY AND PASTE THE SECTION ON EQUITIES (or any section).
Here is the ChatGPT4 output in the image below.
Lather, rinse, repeat for Morgan Stanley, your best RIA prospects monthly outlook (from their website), etc.
Advisors have the best intentions when it comes to client communication.
Often the issue boils down to:
- Competence: the advisors is terrific when it comes to financial planning and awful when it comes to the written word
- Cost: hiring a copywriter, or employing a third party newsletter service, is not inexpensive.
Enter you, the well informed wholesaler.
Provide your advisor with these directions and they’ll be creating monthly client communications quickly and efficiently.
Creating Product/Concept Explainer Videos
If you were wishing to create a video that you could use for clients or prospects to showcase one of your product or services, there was a time when you would need to search out the following professionals to assist you (partial list) and the process would have taken weeks to complete:
- Lighting Director
- Sound Technician
Today, AI has made possible to do a video with a spokesperson in minutes.
Here’s are examples of videos we’ve recently done:
Use your own image or use their avatars. Select voice and tone to fit your message.
Other AI Applications We Are Curious About and Will Be Checking Out
Personalized AI Videos to
Boost Email and SMS
Record one video and
send millions of personalized videos to your customers with windsor.io
Make studio-quality voice overs in minutes. Use Murf’s lifelike AI voices for podcasts, videos, and all your professional presentations with murf.ai
Get an AI meeting assistant that records audio, writes notes, automatically captures slides, and generates summaries. otter.ai
Supernormal helps you create amazing meeting notes without lifting a finger. Works with Zoom and Microsoft teams. Supernormal.com
Create a beautiful resume quickly with the help of AI and our customizable templates. A perfect resume created in minutes with kickresume.com
Do you have must-use AI applications that we should check out? Please let us know! Email us at info[at]wholesalermasterminds.com
post image via www.vpnsrus.com