Episode #364: Keld Jensen
Meet
Keld Jensen
Keld is a globally acclaimed authority on negotiation and trust, he is an advisor to governments and private organizations worldwide, author of 25 books, and a prestigious member of the Global Gurus Top 30. He is teaching at several universities in North America and Europe.
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Keld Jensen’s University has been studying ChatGPT since its release. They’ve also been running a global simulation using ChatGPT. They’ve seen huge differences in the outcome of the negotiations based on whether or not the teams are using AI. Keld shares more about his study—and the different ways he strategically uses ChatGPT in negotiations—in this episode of Sales Reinvented.
Outline of This Episode
- [2:16] Using ChatGPT as a personal assistant
- [3:24] The key features of ChatGPT
- [5:50] Using ChatGPT to navigate the sales process
- [7:25] Addressing the challenges/limitations of ChatGPT
- [9:24] How to personalize content created by ChatGPT
- [12:42] Creating company policies for the use of AI
- [15:20] Keld’s top three ChatGPT dos and don’ts
- [18:38] The results of Keld’s ChatGPT study
The key features of ChatGPT to use in sales
ChatGPT is a great preparation tool. Humans tend to be lazy. We look for shortcuts. But shortcuts can impact quality, right? ChatGPT—or whatever AI tool you use—is not lazy.
Keld had a client ask him what to do in a difficult situation. So Keld wrote down seven recommendations that he thought of off the top of his head and emailed the list to his client. Then, on a whim, he input the problem into ChatGPT. He asked the AI to answer the question from the lens of an expert salesperson, i.e. to be Keld Jensen.
Keld admits that ChatGPT came up with better answers than he did. It was far more thorough and detailed. To take it one step further, he took his answer and the answer ChatGPT gave and sent it to 62 people that know him and asked them which answer was his. 58 of the 62 people thought that ChatGPT’s answer was his.
Using ChatGPT to navigate the sales process
ChatGPT isn’t Google. It isn’t a search engine. It is a tool you can use to get answers. But you have to use the right prompts. ChatGPT is like a personal assistant. You can ask it questions, ask for advice, bounce ideas off of it, and more.
Keld likes to use ChatGPT to research topics, parties involved, their interests, and more. You can ask about a country, market, region, or product area. You can use it to generate ideas and solutions. Keld even uses ChatGPT to figure out why someone is responding a certain way.
The applications are endless—as long as you are aware of ChatGPT’s limitations. Listen to hear how Keld navigates challenges with ChatGPT.
How to personalize content created by ChatGPT
If you want the content ChatGPT creates to sound like you, Keld recommends explaining to ChatGPT who you are, where you work, what product you handle, what market you’re working on, your typical client, etc.
You have to educate the AI. The more you share, the better the response you’ll get. The AI simply needs context to craft content that sounds like you.
The teams that did best in Keld’s study took the simulation that was written, uploaded it into ChatGPT, and asked it to give them a strategy, questions, important items to be aware of, etc. They outperformed the other teams every time.
The results of Keld’s ChatGPT study
Keld found that the teams that didn’t use ChatGPT never managed to reach a deal within the appointed time. But when both sides used ChatGPT, they were done negotiating 30% faster. They were far more efficient. If you know how to use ChatGPT, you can outperform anyone else.
Secondly, the study taught them that using ChatGPT during a negotiation is time-consuming. It’s difficult to use live. And if you’re sitting in a negotiation on your own, it’s impossible to use ChatGPT. But it can help you during a negotiation if you’re part of a team or able to use pauses and breaks.
AI can’t replace sales reps and negotiators. But the sales reps and negotiators that use AI will replace everyone else. Do the work to gain the knowledge necessary to use AI. Learn more about doing just that in this episode!
Resources & People Mentioned
- Keld’s upcoming book: Negotiation Essentials (Releases 10/24/2023 from MCGraw-Hill and 11/14/2023 on Amazon)
Connect with Keld Jensen
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Learn More About Keld Jensen
What are some of the most important considerations that companies should aware of as it relates to their employees usage of ChatGPT? Confidentiality. Garbage in garbage out.
Should training be provided for employees to utilize this tool safely and effectively and should this be included in a salespersons induction / onboarding process? That’s a no brainer. Yes.
Can you share some examples of how ChatGPT has helped companies improve their sales process or increase sales. Preparation and running mock negotiations.
Hobbies, Interests? Running, reading
How can our listeners contact with you? www.negotiationessentials.info www.keldjensen.com https://www.youtube.com/@keldwidinberg
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