Understanding Your Product
All businesses are constantly working to sell their product or service. In order to sell successfully, however, it is crucial that you understand exactly what it is you are trying to market and why.
Take a moment to consider your company and what it wants to sell. Then ask yourself the following:
- Why is this product or service important?
- How and why would this product or service benefit customers?
- How does our product or service address any unique needs and/or gaps?
- How are we better than the competition?
While most salespeople have a basic, technical knowledge of what they want to sell, it is rare to have a deep understanding of how a product or service can positively impact the direct audience.
The popular adage “features tell, benefits sell” certainly comes into play under these circumstances. More simply, you can tell customers over and over about the features of your product or service without generating a single sale. This generally occurs when you forget to address how and why the product can impact the customer’s life for the better.
Understanding your product also allows your sales force to speak in a language that makes sense to most buyers. For example, listing the technical features of a car to a prospective customer is unlikely to spark much interest. Instead, try a more personal method and address topics that play a direct role in the customer’s lifestyle. Gas mileage, child safety features, and storage space may have more significance to the customer in question than industry-specific jargon.
To encourage product understanding amongst your staff, try a hands-on approach. Allow employees to use the product or service themselves as much as possible. When it comes time to sell, your team will know exactly how and why your company’s product is important.
An inspired, knowledgeable sales pitch will have more of an impact than one that is running on auto-pilot. Ensuring that your team knows how your product plays a role in the lives of customers is the first step toward driving sales.