By Michael Simpson
Author, The Sales Cookbook

Product and industry knowledge on their own will never close a sale, but used and presented well, they will be a potent ingredient and certainly enhance your perceived value to your prospects and customers. Knowledge is power and for sales professionals, product knowledge can mean more sales. It is difficult to effectively sell to a client if we cannot show how a particular service or product will address their needs.

In order to be seen as a valuable resource for your clients, you have to demonstrate that you not only know and understand your products and the market, but can assist them in making good decisions and provide them with tools to improve their business.

Having a thorough understanding of the products and services you sell will allow you to use different techniques and methods of presenting the product to customers. This knowledge will allow you to recognize and adapt a sales presentation for the various types of customers.

Your knowledge and passion about a product is one of your best selling tools. As you generate excitement for the product, you remove any uncertainty the product may not be the best solution for that customer.

The easiest way to become passionate is to truly believe in the product. If a customer isn’t fully committed to a sale, the difference may simply be the lack of knowledge or passion you have towards the product. Becoming knowledgeable in your product and its uses will help cement that passion and help you overcome objections made by customers by using factual information regarding the product. Being well educated in not only your products, but similar products sold by competitors, allows you to easily counter objections.

Knowledge isn’t everything

While product knowledge is important other ingredients outlined in this book still need to be applied to your recipe. Most customers still buy you first. All the product knowledge in the world won’t help you if the customer doesn’t like, trust or believe in you.

The top sales performers understand the use of knowledge and know that it means nothing if a customer does not trust you. People like to do business with people they like and they like people they can trust. This is achieved by exhibiting a detectable level of compassion and competence stemming from knowledge. This trust is usually created by showing a noticeable level of concern for their needs. When people truly believe you are concerned for them, they tend to think you possess good judgment.

It is important to know all you can about your product or service, but you must present it cautiously so that you don’t ramble on about features or benefits that do nothing for your customer except raise the perceived cost or pricing. Convert the features you present into benefits to create positive mental pictures in your customer’s mind that helps them fit your offering into their needs. Make sure not to use your product knowledge to put down your competitor’s product or service. Instead make professional, logical comparisons that clearly show your product’s superiority.

Sources For Product Knowledge

It is important to understand how a product is made or a service is implemented, how the product or service should and can be used, and what products or services work well together.

What You Need to Know About Your Products or Services

1. History of the product or service
2. Pricing structure and available discounts
3. Models, programs, styles, colors or options available
4. Any special processes you use
5. Product or service delivery/scheduling
6. Engaging the use of the product or service
7. Servicing, warranty and repair information

It may take a while to easily articulate your product knowledge, especially with new products, but over time you’ll become comfortable and confident in providing the correct information to customers. That confidence will pay off in improved sales results and be an important ingredient in your sales success.