The power of product knowledge
People don’t buy products or services per see, they buy benefits. If you can’t explain the benefits of the product of are selling, you are in wrong business.
Why do you think is the number one reason why salespeople are struggling today? The answer is not what you think. They don’t understand their products and services.
If you have listened to stories of great salespeople, they understand the product. But also, they leverage on referrals. They have answers to simple questions like: why should I buy an insurance product from you and abandon my current provider? You are a small company, why should we work with you?
While others have listed the features of the product, you have explain the benefits. During one of my trips to a trade expo, different companies had to market their products. The first presenter listed all the product features. How beautiful the product looked. To my surprise, no one else in the room paid attention. People switched to their smart phones to check their emails and Whats App messages. He definitely made no sale.
Then came a brilliant short gentleman in a tight fitting blue shirt. He took 40 seconds looking at people in their eyes. We all wondered what had happened to the young man. He started in a low tone. “As I was leaving my home to come to office, I witnessed a tragedy. A smartly dressed tall man aiding his kid cross to school was knocked down dead.” I am sure the victim and survivor never expected the accident. Risks like road accidents are part of life. You have a chance today to transfer the risk like that by buying an insurance product.
He knew the product. He sold benefits not features. Everyone wanted to know more about insurance.
Always sell benefits.
UAP week 1 home work
- In your department at work at UAP, list the top 5 products you sell e.g. (if you sell UAP Fire – list all the sub-products under fire).
- For each product, list all the target market/ clients. Who is ideal customer – explaining fully where you can file the age, income etc.
- What benefits do they get when they buy your product?