Have you ever thought why did you loose a particular customer, when your product had almost everything he/she was looking for?
Did you ever think how competitor with the same product is able to make more sales than you?
Is competitor’s product really superior than your’s?
Do you really know your product inside out?
The answer to all the above questions is “Product Knowledge”. In all my posts I always stress on the importance of product knowledge. It is always necessary to have a proper knowledge about your product. This will not only help you win more sales but will also help you have an edge over the competitors.
Having an elaborated product knowledge will help you handle the objections from customers in a better way.You will be able to explain in a better way and will also be able to present those features which customer is looking for, making your presentation more customer centric. On the contrary if you do not have proper product knowledge, even if your product has a particular feature which customer is looking for, you might not be able to explain or present that feature resulting in the loss of sale.
Product knowledge to a large extent helps in boosting your confidence when you present your product/services. You clearly have an idea what you have to present in front of your customer and how best you can position the product/service to meet all the requirements of the customer.
The best way to have the product knowledge is by using it. It is always recommended to use your product and understand its features before you start selling it. It will give you the fair idea about the product’s benefits and its short comings. Moreover if you are able to experience the products and services of the competitor, you will be able to explain how your product is different and hopefully better.
Just presenting the brochure to the customer does not help, you need to have the proper understanding of the product because written words and spoken words are very different. You can also have a better product knowledge and understanding by meeting existing customers and asking for their feedback. Try to make it clear that you want brutal honesty, since there will almost always be ways in which your products are both good and bad and the more you know about both aspects, the better.
More importantly your sales pitch should not only cover the benefits and advantages of your product/service. Honestly customer is not interested in that, the way your product/service meet customer’s requirement is of more importance. And you can communicate the same and position your product accordingly only if you have proper knowledge of your product. Being too technical in explaining your product is also not advisable. The product should be presented in a way that is self explanatory.
The sales people should not only depend on company’s training for product knowledge instead they should always keep themselves updated with the new and added features in their product/service. This would help in gaining a competitive edge and at the same time making more sales.
An investment in knowledge pays the best interest.