Marketing has always been a key player in reaching a business's success. As long as the marketing team can tap the correct people using the right channels, you can guarantee continuous sales and loyal consumers.
But it’s not only the marketing team that makes a business thrive and grow. All departments need to go the extra mile and dedicate themselves to keeping the brand alive. As such, everyone across the organization must know the product or service by heart.
Happy customers bring in the numbers, but they don’t appear like magic. Instead, you foster them through excellent service. At the heart of good service is knowing the company’s product like the back of your hand.
How do you ensure that your employees are up-to-date and can confidently advertise your product or service to potential buyers?
Simply put, product knowledge refers to an understanding of a good or service, including its features, uses, requirements, and application. An employee must be on top of a company's product to stay updated if there are any changes. That way, he can be a hundred percent prepared to pitch the product at any time.
Given the grave importance of product knowledge, many, if not all, invest their resources into product knowledge training. Poor grasp of products or service often leads to losses for the company, which shouldn’t be taken lightly.
Holding product knowledge training isn’t as hard as it sounds as long as a company abides by the four pillars of an effective program.
A good understanding of the product or service's specifics is a one-way road to building better customer relationships, hitting business goals, and building a positive brand reputation. If your team can provide accurate information to your customers and demonstrate their mastery of your product, they earn the market's trust, making it easier for customers to make the purchase decision.
Running a business isn’t only about launching product after product. A successful company knows how important it is to understand your market and its needs fully. Your product knowledge training program shouldn’t only cover the “whats” of your product, but also the “whys.” How can you offer solutions to your customer? If your team can answer that in a beat, you’re already making a mark on your customers.
Whether we like It or not, the business industry is still a competition. To stay ahead, you'll need to pay attention to what your competitors are doing and compare it with your offering. Once you have that ready, include it in the product knowledge training. Doing so will empower your employees to create a specialized pitch that positions your product as the best in the market.
After benchmarking, It's time to create the winning pitch that will nudge your potential buyers to finally make a purchase. A value statement should include:
- How your product solves the industry’s problem
- What the benefits of using your product are
- What makes you the better choice against the competition
It won’t be easy to craft the perfect value statement on the first try, but soon enough, your employees will have the ability to create their winning pitch that you’ll embrace. That’s the power of a good product knowledge training program.