Increase Your Sales by Knowing the Product You're Selling.

Increase Your Sales by Knowing the Product You're Selling


Sales & Markting: Increase Your Sales by Knowing the Product You're Selling.

Introduction.

Many salespeople today do not have enough information about the product or service they are selling. Moreover, in three-quarters of retail sales, the customer is thought to know more about the product than the seller.

In most scenarios, the salesperson is confident that his product is the "best" or possibly the "best" on the market, but cannot provide detailed information about the product. However, in today's conditions, it is easier than ever to become an expert on any subject you are interested in. Even someone who does not have the slightest idea about the industry can go a long way towards the product in question at the end of short-term research.

 So, if you want to increase your sales, you need to learn everything you need to know about the product being sold and take advantage of this free, mass-accessible information to position yourself as a trusted expert who can guide the potential customer.



You see, knowledge is power, and it is obvious that product knowledge will turn into a powerful sales force. It also means that businesses, retailers, or salespeople who have sufficient knowledge of the product they are selling will be able to sell more. 

Because when the right product to meet the customer's needs cannot be met, it is difficult to conclude the sales process effectively - and to prevent this, it is essential to have the product knowledge and focus on meeting the customer with the product that will meet their needs.

If you want to achieve this, you should read this article where we talk about the advantages of having an idea about the products you sell. People or businesses responsible for sales can learn a lot from this article.

CONTENT.

Why is Product Information Important?

What do You need to Know About Your Products?

How to Gain Product Information?

Advantages of Having Product Knowledge

1) Product knowledge improves your employees' communication skills.

2) It encourages the customer to buy.

3) Reinforces the customer's sense of trust.

4) Helps you respond to customer objections.

5) It makes you enjoy being an expert.

6) You can easily demonstrate your expertise.

7) It allows you to continue the learning process and discover additional benefits to potential customers.

8) Gains competitive advantage.


Why is Product Information Important?
Increase Your Sales by Knowing the Product You're Selling



As long as sales representatives can see the benefits as well as the features of a product through the eyes of the customer, they can deliver engaging conversations that will drive and ultimately increase sales. This is exactly why it is important to have product knowledge. A positive response to the product's features and benefits in the minds of the customer, ie approval, will facilitate the decision to sell.

Salespeople often focus only on features, immersing the customer in technical details, considering product knowledge to be about knowing the features of the product well. However, the concept of product knowledge entails selling benefits, not features. Because the customer seeks benefits and wants to know WHY these features are important to him.


 In other words, ranking six benefits for a product instead of three will not make that product appear twice as good in the eyes of the customer. The reality is that when a customer buys a product, they probably use only 20 percent of that product's features. So the more you complicate the process of providing product information, the more likely you are to lose a customer.

For this reason, you should know what the concept of product knowledge means, understand its importance, and never make the mistake of giving more than the customer needs during the sales process. Remember, a feature/benefit that is great for you may not have the same value in the eyes of the customer.

 
What You Need to Know About Your Products.
Increase Your Sales by Knowing the Product You're Selling



Let's take a look at the main topics you need to know about your product before moving on to the impact of product information on sales.

As a product sales officer or business owner;

Product name and price.

Physical characteristics of the product - style, color, or models.

History of the product - what year or where it was produced.

Production process.

Product use and maintenance features.

Product capabilities.

Product distribution and delivery process.

With service, warranty, and repair information.

You need to know what product is interesting for the customer.

When it comes to new products, it can be difficult to solidify your product knowledge and pass it on to the customer, but over time you will be much more comfortable and confident in providing accurate information to shoppers. This self-confidence will return to you as rising sales rates.

How to Gain Product Information?
Increase Your Sales by Knowing the Product You're Selling



It is important that you understand how a product is produced, its value, how it should or can be used, or which products will work well together.

By knowing more about your product than your customers, competitors, and other salespeople, you can gain the tremendous advantage of increasing your sales.

So, do you have any idea how to access product information?

Here are the things you will do in the process of obtaining information about the product you will sell:

You can get practical information on the use of the product by reading the instructions for use inside the product or by trying the product yourself.

You can search for similar products from competing companies.

You can benefit from the catalogs or brochures published by the business about the product.

You can benefit from the in-service training provided by your business and attend the sales team trainings.

You can get help from senior employees and managers of the business.

You can learn about the aspects that make the product superior to its competitors through marketing activities.

You can benefit from customer references.


Advantages of Having Product Knowledge.


1) Product knowledge improves your employees' communication skills.
Increase Your Sales by Knowing the Product You're Selling



A thorough understanding of the products on the shelf allows the seller to use different techniques or methods to present the product in question to customers. At this stage, it is also critical to have strong communication skills – because all sales communication revolves around the product, and mastery of sales communication will enable the salesperson to identify appropriate sales techniques for different types of customers and adapt those techniques as needed.


 As a business owner or seller, the question you should often ask yourself is: “Are my employees talking or communicating with customers?”

Most Employees/Salespersons are content to only talk about the product, whereas the main thing to do is to train your employees to sell the advantage (benefit) to the customer, not the features of the product. Most importantly, you need to ensure that your salesperson sees what the customer needs, not what they like.
 
2) It encourages the customer to buy.

Dealing with a customer who believes in the power of the product to be sold is one of the most functional sales techniques. In this way, while creating excitement/enthusiasm for the product, you also remove the uncertainty that the product may not be the best solution for the customer in question. In other words, by using product information, you make the customer believe in the functionality of the product and encourage purchase. 

The easiest way to achieve this is to have salespeople who truly believe in the product and its benefits. Remember, you have to market yourself first and then move on to product marketing. If the customer believes in you, they also believe in the power of the product you sell. Providing this requires having product knowledge.
Increase Your Sales by Knowing the Product You're Selling



If you want to be a successful salesperson, trusting the product you're selling is essential. The only thing that will fuel the enthusiasm and enthusiasm that confidence will bring is being aware of what you are talking about. If you have full knowledge of the product, you can provide the customer with the necessary information, and moreover, you can create this incentive situation in a natural way, away from outside interventions.

 3) Reinforces the customer's sense of trust.

If any customer isn't determined to complete the sale, the problem is most likely because the customer isn't confident enough about the product or your salesperson's knowledge of the product. Salespeople generally have the following fear:

 Receiving a question from a potential customer about the product they don't know the answer to. At this stage, you need to minimize this risk by leveraging product knowledge and learning everything you can.
Increase Your Sales by Knowing the Product You're Selling



Having sufficient equipment for the product to be sold will help the customer to strengthen their trust in your business and will encourage them to finalize the sale.

If you want potential customers to see you as an expert, you really need to live up to that title. Remember, when potential customers trust you, they will be much more likely to make a purchase.

4) Helps you respond to customer objections.
Increase Your Sales by Knowing the Product You're Selling



Objections made by customers are essentially nothing more than questions. If they still object to a product, either you chose the wrong product or the customer needs more than your product knowledge to understand why this is the best solution. This is exactly why you need to master not only your own products but also similar products sold by your competitors - so you can successfully meet customer objections.

Whether the object of the objection is the price of the product, or a feature in a competitor's product that you do not have, knowing your product well and your competitive advantage allows you to clearly explain your product value as well as your difference from your competitors.

 5) It makes you enjoy being an expert.
Increase Your Sales by Knowing the Product You're Selling



Sales do not always have to be a process on the axis of potential customers. Sometimes knowing about your product does more than increase sales and helps you feel successful. In other words, product knowledge gives you self-confidence.

When you have much more information about the product you are going to sell than you hope to use, you will be prepared for any situation that may come your way. In this sense, product knowledge can be said to be an element of "power"—the kind of power that will ensure sales growth.

 6) You can easily demonstrate your expertise.
Increase Your Sales by Knowing the Product You're Selling



Selling to potential customers can be easy because they are less likely to have the same information as you. Dealing with purchasing agents or other industry professionals is a challenge in itself. Because this group is much more likely to test your knowledge. Knowing every detail about the product you sell will enable you to have a stronger attitude in front of these people.

7) It allows you to continue the learning process and discover additional benefits to potential customers.
Increase Your Sales by Knowing the Product You're Selling



Ultimately, you will tell each potential customer how to take advantage of your product. And there are many ways to do this. Therefore, if the product has uses that are unknown to anyone and you do not know what they are, it is impossible to tell the potential customer. The key quality required for this job is to be open to learning.

8) Gains competitive advantage.
Increase Your Sales by Knowing the Product You're Selling



Product knowledge requires not only knowing your product well but also having an idea about similar products from competing companies. Knowing how your product outperforms its competitors will enable you to turn it in your favor. This difference may sometimes be due to value, sometimes to price, and sometimes to product features. The important thing is to know what you are ahead of and use it to attract customers and increase sales.

Last word.
Increase Your Sales by Knowing the Product You're Selling



Customers demand, moreover, need product information. Because they make their purchasing decision in the light of this information. They also measure whether they can trust you or your employees as the salesperson based on the product knowledge you have.

You see, using product knowledge takes skill. The main purpose here is not to talk non-stop to give information and not to overwhelm your interlocutor/customer with unnecessary details. You should only talk about the features (benefits) that the customer is interested in, and you should not forget the fact that even if the product you are selling is exciting for you, it may not mean the same thing to the customer. What the customer needs is not your display of superior intelligence, but the consideration of their interests and needs—in other words, their interests.

Keep in mind that all these things we have mentioned regarding product information will come back to you as sales convenience and increase.



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