Do you know your product knowledge? When it comes to running a business, your customers need to know how much you care and that you have the competence to guide, direct, recommend or select the best option for them. Product knowledge is understandably a crucial requirement in the sales industry if you are to compete successfully and acquire satisfied customers. In this blog, we will outline the information needed to execute good product knowledge that should then leave you with loyal, happy customers.

What you should know

In terms of product knowledge, there are a variety of things you must know:

  1. What your products or services actually do.
  2. What your products can’t do 
  3. What your competitor’s products and services can and cannot do in comparison to your products/services.
  4. Your Unique Selling Point
  5. Your competitors Unique Selling Point/Points
  6. How have other customers used your product/service to improve their business?
  7. How have your ideal candidates have used your competitor’s product/service?
  8. What are the trends in the marketplace that can or will impact your sales or your customer perceptions?

The beginning 

However, once you have fully understood all the information needed, be aware this is just the beginning. Understanding your business and what your customers need to be aware of is essential to addressing your customers needs, questions, challenges, dissatisfactions or issues. Sadly, winging it is no longer an acceptable strategy for your product knowledge. Winging it has never actually been an acceptable strategy but many salespeople have taken on the phrase ‘fake it until you make it’. However, this phrase is destitute in today’s complex and fast-paced world. Dealing with complex products or services and customers with extensive knowledge confirms that faking it is no longer an option.

Faking product knowledge is a sure-fire way to hinder your business. Learn as much as you can about your products or services. Remember, product knowledge does not make up for poor people skills, poor selling skills or a poor attitude. If you are able to master all four of these skills, you’re on to a winner and there won’t be much you can’t achieve.

If you need advice about your business, get in touch with actionCOACH today!