Sales Training: 10 Reasons Product Knowledge is Power

It's surprising to find out how many salespeople don't know a lot about the products or services they are selling. It is estimated that, in retail sales, 3 out of 4 times, the customer knows more about the item than the salesperson does. In many instances, the salesperson knows their product is “good” or possibly “the best”, but they can't say too much else about it. It' now easier, than ever, to be an expert on anything you are interested in. If someone knows nothing about the industry on Monday, they could be well on their way by Friday. Use the free information available to the masses to learn anything you need to know about the product being sold, and positioning your self as a credible expert that can guide the prospect.

Think about what is gained by learning more about your product. By knowing more about it than your customers, competitors and other salespeople you will gain a tremendous advantage that will lead to increased sales.

Why product knowledge is imperative for sales success.

1. Product knowledge builds enthusiasm.
In order to be a successful salesperson, you need to be confident in your product. A helpful aid in enthusiasm is knowing exactly what you're talking about. If you know your product inside and out, you are able to give information as needed and the enthusiasm will be organic.

2. Product knowledge gives us courage.
One common fear around salespeople is that the prospect will ask a question they don't know the answer to. By learning everything you can, you can minimize this risk.

3. Product knowledge gives us the satisfaction of being experts.
Sales doesn't always have to be about the prospect – being knowledgeable in your product can make you feel accomplished as well.

4. Product knowledge allows us to speak with confidence around other experts.
Selling to normal prospects can be easy because they may not have the same knowledge as you do. When dealing with purchasing agents, or other industry professionals, they're going to be much more likely to test your knowledge. Understanding everything you can about what you're selling gives you the confidence you need around these people.

5. Product knowledge helps you respond to any objections properly.
Whether it's about the price of the product or a comparison to a competitor, knowing about your own product (plus the competition) allows you to explain the value in your own product.

6. Product knowledge allows you to keep learning and to discover additional advantages to offer the prospects.
Eventually, you will find more and more ways to leverage these advantages with each of your prospects. If the product has hidden uses, if you don't know what they are, you won't be able to articulate them to your prospect.

7. Product knowledge lets you understand the competition better.
Know your product, know competitor's products, and know why your product beats that competitor. Sometimes it is on value, sometimes on price, sometimes on features and sometimes on all of the above.

8. Product knowledge gives you self-assurance.
If you know more about the product than you could ever expect to use, you'll be more than prepared for any situation that comes at you.

9. Product knowledge gives your prospects confidence in you.
You want prospects to look at you like an expert, and really, that's exactly what you should be. When your prospects trust you, they'll be more likely to give you the sale.

10. Product knowledge is power. Power that helps you close more sales.

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