Product training is an important part of an organization’s success. Without value-adding product training, a marketing team cannot reach the right market, and a sales team will fail to answer the critical questions customers are looking for. Poor product training can cause a great deal of loss to a company, so it is necessary to take a look over the program already in place to ensure that employees are receiving effective product training.
Here are the four pillars of an effective product training program:
1. Product Knowledge: Understand what you are selling
Having your team completely understand the products being sold is critical for creating strong customer relationships, building a positive brand reputation and outperforming your competition.
Equipping your team with excellent product knowledge will help your company:
- Build a stronger relationship with customers When your team gives accurate information about your products to customers, they earn the customers’ trust. Knowledge of the product also makes customers believe they are dealing with employees who are experts and passionate about what they do—making your company their favorite among competitors.
- Improve sales A deep understanding of product knowledge allows salespeople to do two key things. It allows them to customize their product offerings and suggestions to maximize satisfaction and upsells, it also enables them to quickly and accurately give the prospect what they need to make a buying decision.
- Improved customer experience If your customer care team has in-depth product knowledge, they can help your customers easily and promptly. Customers won’t have to wait on the line for the right person to address the issue, overall improving the customer experience.
2. Industry and Customer Knowledge: Understand what your customers are looking for
Great product knowledge is supported by an in-depth understanding of the industry you are in and the customers you serve.
It is not enough to train your teams about the specifics of your products, the training program need include aspects that give context to your products.
- How is this product being used by customers?
- What problem does this product solve for the customer?
- Are there trends or changes in the industry?
Customers no longer engage a salesperson for generalized information; they are looking to sales reps to add expertise and value to their interaction.
Here are three ways to implement industry and customer knowledge into your training program:
- Allow employees the space to spend time researching industry trends
- Ensure training includes not only who your ideal customer is, but also how your product solves that person’s needs - connect the customer attributes to the product.
- Create a shared communication space where people can post key competitor observations
Infusing industry knowledge topics in your training help prepare your team for the needs of the customer. Being up to date on changes in the industry will also prepare employees to foresee possible changes that might disrupt the industry.
3. Competitor Analysis: Understand what your competitors are doing
Analyzing competitors helps identify your product’s strengths and weaknesses, as well as identifying communication strategy adjustments you can make.
Competitive analysis is a crucial process of the research and planning phase for companies who wish to grow their business. It allows you to view competitors’ product features in comparison to yours and create a benchmark to develop an effective competitive marketing strategy.
Once completing a competitor analysis, share the data and implement it into your product training program. This will give employees the opportunity to how your product stacks up against competitors and create a specialized pitch, improving their chances of a sale.
Remember that some of the best product observations come from the fresh eyes of new employees.
4. Create winning product value statements
Once you understand your target customers, analyze competitors and fine-tuned your product knowledge, it is time to create a value statement that will persuade customers for the final sale.
What is a value statement?
According to CXL, a value proposition is a clear statement that:
- explains how your product solves customers’ problems or improves their situation,
- delivers specific benefits,
- tells the ideal customer why they should buy from you and not from the competition.
Elements of a good product value statement:
- Communicate specific results customers need
- Explain how it’s different and why it’s better
- Be clear and concise so it can be easily understood in 5 seconds
A product value statement carries the promise that entices the customers to buy your products. Make your value statement clear and concise, but most importantly, ensure to fulfill the promise.
Creating a comprehensive product training program can be a daunting task; however, these four pillars will help outline what is needed to successfully train a team that will boost sales, improve customer retention, and broaden your market share.
About Knowledge Anywhere
Knowledge Anywhere is an eLearning company focused on providing flexible, modern learning and development solutions that enable organizations to harness the power of an engaged, knowledgeable workforce.
Our Learning Management System, Virtual Reality Training, and Course Development services, combined with our experience and customer support enables our users to create a learning and development program that boosts sales and drives company growth.
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