No matter how strong your productís potential, it will remain on the shelf without a buyer. Selling, as we know, is as vital as production, and your sales team need to be at the top of their game in order for you to be at the top of yours. For them to achieve that, their product knowledge must be complete, credible and constant. There are a select few who can be successful at ësalesí no matter where they go, but the secret isnít necessarily the power of persuasion, it is more likely to be an ability to grasp the value of a product and its benefits to the consumer.
Product knowledge is a chain of understanding, from the manager to the sales team to the end user. You need to be able to instil in your staff not just the technical knowledge, but the desire to learn all aspects of your business. A sales team doesnít sell one product, it sells a brand, a company and a reputation. On the front line, the team obviously needs to know what they are selling and why itís superior to the competition. Setting aside the skills of the supplier, one of the attributes of a decent buyer is to ask ìWhy you?î If thereís a stumble at the first hurdle and you have a salesman who canít answer with confidence and conviction, you need to get in touch with HR and let them know thereís a vacancy coming up.
If we move back up to the top of the chain, the boss needs to do his homework, share his results and work on any shortfalls. One of the most valuable aspects of product knowledge isnít your own product, itís that of your competitors. What equivalent is available, how is it priced, what are its USPs, and so on. Of course, as a producer, it is a given that you will try to make your product more attractive than any other on the market, but however hard you try, there will probably be pluses and minuses on both sides. Itís down to you to highlight the pluses and pass them on to your team.
And so, letís go back to the field, where we have a replacement sales agent. As a purchaser, imagine not having to ask the obvious, prompt replies or extract every piece of relevant information. Imagine a potential supplier who comes to you with a good product, extols its virtues, gives an opinion on why it is the best investment in the market and can provide a full rundown from concept to consumption. Add to that the profile of the company ñ which is volunteered, not requested ñ and you have a far more attractive proposition.
I think that anticipation is probably the crucial factor. If you are trying to pitch your product, but thereís one question you hope the client isnít going to ask, itís no good crossing fingers, you need to find the answer. Before stepping outside the office door, your team need to have anticipated every possible angle. If your product is as good as you are telling your agents it is, you need to be ready for their questions too. If they are continually being asked why the price is higher than the competitors, you need to have an answer. You canít cross your fingers either. Presumably, you believe in your product and have the knowledge and the belief that should make it sell, so itís up to you to pass that on. Confidence is a chain too.
So just how do you pass it on? If youíre on the smaller side of a small and medium sized business, you may have the luxury of delivering that knowledge personally, and nothing instils a greater sense of assurance than hearing a successful boss tell you why his products are a success. Generally speaking though, other channels are required. A thorough induction period is an absolute must for any newcomer, who can use the time to learn about the company as well as the products. And for those members of the team who have been with the organization for some time, updates, reviews and introductions to new services are equally essential. Knowledge is not only power, it is an ongoing process.
Whether itís a photocopier or a hedge fund, the same rules apply. A confident and knowledgeable supplier has a huge advantage over a salesman who may have boundless enthusiasm but limited understanding. Albert Einstein himself said ìinformation is not knowledgeî but as a good business owner or manager, you will be able to impart both.
Tom Addyman is a Managing Director at Gulf Finance
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