With the advent of dropship, many sellers have stopped gaining in-depth product knowledge. However, it is just as important as always to know your products inside out.
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May 13, 2021 5 min read
The opinions expressed by the entrepreneur’s contributors are their own.
Whether you are selling a service or a physical item, knowing your product is incredibly important to the success of your business.
For example, David Stern, a sales trainer, describes how he shaded a salesperson during a sales pitch. When the customer’s potential buyer asked if they could provide a particular service, the seller said no. In fact, the seller didn’t even understand what service the potential buyer was asking for. The potential buyer had to explain it to the seller.
When this conversation was forwarded to the salesperson’s boss, he was furious. They offered the service – it was just that the veteran salesperson had never examined it. Not only did he lose thousands of dollars on the sale, but because he lacked the product knowledge, he had never offered the service to anyone else. Tons of potential sales could have been made if the seller had taken the time to know the product.
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Why should you know your product?
Stern’s example is an extreme case of ignorance – you might say to yourself, “Of course I know what I’m selling!” But do you know all about it? In-depth product knowledge has many advantages:
● Increased confidence. The more you know about your product, the more comfortable and secure you will feel when you make it available to others.
● Strong communication. Knowing all the benefits of your product or service will make it much easier for you to communicate with potential buyers. Knowing your product allows you to adapt to the different types of people you meet and communicate with instead of just talking to them.
● Successful response to objections. Knowing your product means you understand the potential downsides too. No product or service is intended for everyone – and what potential buyers really want to know from your sales pitch is whether the product is right for them and their needs. Knowing your product will help you anticipate the questions and objections they may have and how to work around them.
● Enthusiasm. One of the biggest things that can scare someone into selling is a lack of knowledge. Of course, if you don’t have all the information, you’re more nervous about talking about something for fear of being asked a question. By gaining product knowledge, remove that fear and you will become much more enthusiastic. When you fully understand the benefits and anticipate objections, you’ll be much more excited about the product. This, in turn, makes customers a lot more interested in hearing from you.
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How to advertise your product with your product knowledge
1. Hold demos or discovery calls. Showcase your product knowledge at physical product demos or Discovery Calls for Services. This is your time to shine and answer any questions your prospect may have.
2. Sell the benefits. You may have heard of sales benefits, not features. People really only use around 20 percent of a product’s features. So if you overload them with information about all the bells and whistles of your product, it will go in one ear and the other. What people really want to know is how the product will make their lives better.
For example, if you’re selling a knife, you can tell your potential buyer how sharp the blade is, what it’s made of, and how well the handle is built. Or you can tell them that the well-made blade allows them to chop vegetables at three times the speed. You could include never having wrist pain again as the handle is ergonomically designed. Which sounds more convincing to you?
3. Run with objections. Once you’ve covered the benefits, raise any objections before the customer does. This allows you to express what they are probably already thinking – something they may not even ask about before they shut you down. By raising objections before the customer can, you position yourself as an expert. However, don’t let this stop you from listening. Your customer wants to feel heard. You should therefore also ask the customer whether they have any objections.
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Product knowledge can make or break a sale. Remember, people always ask what a product can do for them before making a purchase. So when you know your product will enable you to answer that question.