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 teams 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, comprised of sales, marketing and customer service, completely understand the product being sold is critical for creating strong customer relationships, building a formidable brand reputation and beating the competition in your niche. Poor product knowledge, on the other hand, can break your company.
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- Good product knowledge entices prospects to purchase your products since the sales team know the selling points and are able to handle potential questions. Customers love working with sales representative who are knowledgeable about their products which will build loyalty to your brand.
- 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.
While developing a product training program, product knowledge must be at the core in order to add value to employees. Product knowledge allows sales, marketing and customer service to understand the strengths and weaknesses of your product, so they will know what sets your product apart from competitors and recognize what customers are looking for.
2. Industry and Customer Knowledge: Understand what your customers are looking for in an industry
Providing industry and customer knowledge is essential for developing a comprehensive product training program. Understanding the industries’ new trends and practices will help your company stay up to date on what customers are looking for. Customers no longer ascribe to generalized information; they need appropriate solutions to their problems.
Implementing these fundamental aspects into your product training will:
- Allow marketers to correctly target potential customers
- Facilitate building strong connections between sales representatives and customers
- Help customer service teams find the solution to a customer’s problem
Infusing industry knowledge topics in your training helps prepare your team for the needs of the market and customer. Being up to date on changes in the industry will also prepare employees to foresee possible changes that might disrupt the industry. Understanding what customers need in the industry will help retain customers and improve their experience with your brand.
3. Competitor Analysis: Understand what your competitors are doing
Analyzing competitors also helps identify your product’s strengths and weaknesses. Ultimately, it is important to compare against competitors to understand what improvements will make your product popular among customers.
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.
4. Create winning product value statements
Once you understand your target customers in your industry, analyzed competitors, and fine-tuned your product knowledge, it is time to create a value statement that will persuade customers for the final sale. In creating a product value statement, consider value statements of your customers, and add more value to them. In essence, make your product the only solution the customers can ever have.
Elements of a good product value statement
- Communicates 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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