Know Your Product

One of the oldest axiom for sales is the "perception of reality". What your customer perceives to be true is what will drive their behaviour. And to demonstrate this, expert hands on the product knowledge is the key mantra for selling. Branding is a side effect of it, if I could call it so. How else would Star Bucks  make people stand in queue for hours when your wife can make better coffee at home!

I was not surprised upon learning yesterday about Chandni Chowk the Delhi's shining oldest busiest market square, a big crowd puller, went online!  Paralleling this growth of technology and access to information, marketing tactics, as any company's primary philosophy remains its concentration on it's "Product Knowledge".

Corporate world triggers the increased importance of "Product Knowledge". Increasing competition, consumer choice and consumer power leads an organisation to cut ways through a media space  crowded with competing offers. Be it finished products or services, the elements that make up the product and the product life cycle are main frame works to be cracked down. They precisely form foundation of best marketing management approach. 

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Ankush Sharma is not new guest on Sushma's Page and this time this is his 2nd presentation. Well pounced on this topic, read him here: http://salesgayan.wordpress.com/

How
important is Product Knowledge for Sales People?

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 ex-planetary.

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.

Benjamin Franklin -