Since I consider product knowledge to be the most critical asset of a salesperson, I would like to continue with this discussion.
I can't emphasize enough that what sets one salesperson set apart from another is product knowledge. When the salesperson knows his product, the sales experience for both the customer and the salesperson becomes a joyful experience.
Customers always have different experiences and different educations and bring these experiences and education to the buying event. A good salesperson has to be equal to the task. A customer who has engineering education will have different questions than a customer who is a lawyer, or one whose background is mechanical. If you really know your product, you don't have to worry about the customer's education. You can handle anything.
So, how do you get this "product knowledge" you need to be successful?
I always start with a search engine like Google or Bing. There is tremendous information in cyberspace.
Let's stick with our previous example, Sub Zero refrigerator. Just Google: "What makes Sub Zero the best refrigerator?" We find out, among other things, that Sub Zero has an interior air scrubber that scrubs the gasses off the food.
Wow. Stand back. I'll sell Sub Zeros every day with that information. And I have just started.
What about the insulation? How much money will that save me every year?
What about the dual compressors and dual evaporators? What advantage is that?
So much to learn to become a great salesperson.
Once you've done your homework, the next step is to make comparisons with other products that are similar. I'll take that up in the next post.
Monday, November 23, 2015
Friday, November 20, 2015
The Essential Foundation for Sales: Product Knowledge
When you ask a real estate agent what makes a property valuable, the answer is always: "location, location, location". When you ask a customer what makes a one salesperson better than another, the answer is always--"product knowledge, product knowledge, product knowledge".
Most salespeople who have been selling a product for some time feel that they possess product knowledge. But product knowledge is an elusive beast.
Let's take an item like a refrigerator. They seem to be a commodity. But what makes one better than another? Assume you're a Sub Zero salesperson. You have to convince the prospective customer that there's a value to paying several times more for the Sub Zero than for a Kenmore or Maytag. What is the value in a Sub Zero? Now is when product knowledge plays a critical role. You need to understand refrigeration compressors. What makes one compressor better than another? What is the advantage of two compressors since Sub Zero has two compressors and normal refrigerators have one. Sub Zero has two evaporator coils and dual zone temperature control. What does an evaporator do? Why is dual zone temperature control important? Why does a Sub Zero weigh twice as much as any other refrigerator? Why is this important? What do people want in a refrigerator? Adjustable shelves? Easy access to the freezer?
This is what's involved in "product knowledge". When a salesperson says: "Oh, yeah, Sub Zero is the best. Everyone knows that", he is not selling, he is taking up space, he is giving a bad name to the sales industry. He is not practicing the fine art of selling.
So, first you must know your product, inside and out. Then you have to know your competitor's product inside and out. Then you make presentations to anyone who will listen in order to practice your "pitch".
And speaking of "pitch", every salesperson should have a 5 sentence "elevator speech" about himself and his product. This is the five sentences that gets a customer to stop and listen. This is the five sentences that demonstrates to the customer that you know what you're talking about. And this elevator speech applies to everyone who practices the fine art of selling.
An example of an elevator speech from a Sub Zero salesperson: "My name's Ed and I've been selling Sub Zeros for five years now. There's a reason they're the highest priced refrigerator on the market. You don't have to worry about failure--everything is dual: dual compressors, dual evaporators. And the reason they weigh twice as much is the insulation--so they are tremendously energy efficient. It would be worth your while to spend a few minutes while I show you the benefits of a Sub Zero".
Most salespeople who have been selling a product for some time feel that they possess product knowledge. But product knowledge is an elusive beast.
Let's take an item like a refrigerator. They seem to be a commodity. But what makes one better than another? Assume you're a Sub Zero salesperson. You have to convince the prospective customer that there's a value to paying several times more for the Sub Zero than for a Kenmore or Maytag. What is the value in a Sub Zero? Now is when product knowledge plays a critical role. You need to understand refrigeration compressors. What makes one compressor better than another? What is the advantage of two compressors since Sub Zero has two compressors and normal refrigerators have one. Sub Zero has two evaporator coils and dual zone temperature control. What does an evaporator do? Why is dual zone temperature control important? Why does a Sub Zero weigh twice as much as any other refrigerator? Why is this important? What do people want in a refrigerator? Adjustable shelves? Easy access to the freezer?
This is what's involved in "product knowledge". When a salesperson says: "Oh, yeah, Sub Zero is the best. Everyone knows that", he is not selling, he is taking up space, he is giving a bad name to the sales industry. He is not practicing the fine art of selling.
So, first you must know your product, inside and out. Then you have to know your competitor's product inside and out. Then you make presentations to anyone who will listen in order to practice your "pitch".
And speaking of "pitch", every salesperson should have a 5 sentence "elevator speech" about himself and his product. This is the five sentences that gets a customer to stop and listen. This is the five sentences that demonstrates to the customer that you know what you're talking about. And this elevator speech applies to everyone who practices the fine art of selling.
An example of an elevator speech from a Sub Zero salesperson: "My name's Ed and I've been selling Sub Zeros for five years now. There's a reason they're the highest priced refrigerator on the market. You don't have to worry about failure--everything is dual: dual compressors, dual evaporators. And the reason they weigh twice as much is the insulation--so they are tremendously energy efficient. It would be worth your while to spend a few minutes while I show you the benefits of a Sub Zero".
Thursday, November 19, 2015
Introduction to the Fine Art of Selling
Selling is an underrated profession. A good salesperson will always find a job because a good salesperson knows how to sell the boss as well as the customer. It doesn't matter whether you're selling refrigerators at Sears or used cars, or God to parishioners, selling is the fine art of demonstrating that you have a solution that will make their lives better. The purpose of this blog is to bring my 41 years of experience in selling to anyone interested in learning this fine art. I was once at a restaurant and ran into some friends. I was introduced to someone I didn't know and he asked me what I do. I replied that I was in sales. He replied in a very condescending manner that he "guessed someone has to do it". And this comment was from a priest who, if he's doing his job right, is selling all the time. Everyone who wants to be successful sells. People who want to be very successful sell well. This blog is dedicated to the fine art of selling. I hope that my passion for selling will demonstrate itself in this blog.
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