How to Avoid Losing a Sale: 5 Common Inside Sales Mistakes (Part 3)
Know Your Product and How to Sell It: Hand in Hand With Knowledge and Success
In the previous blog articles in this series (Part I and Part II), I have pointed out four common reasons why sales professionals lose sales. From what I have seen in the industry, the final reason why sales professionals lose sales is:
Reason #5: Often, sales reps lack the proper skills and knowledge required to get sales.
Skills and knowledge are vital to your success as a Sales Rep and fortunately these are both completely in your control! Some simple steps that make a big difference are:
- Know your product well
- Know how to sell your product well
When I first interviewed at XANT for a sales position, the CEO & co-Founder, Dave Elkington, told me that to effectively fulfill all of my responsibilities with his company I needed to know every aspect of the product that I was selling in order to be successful. Dave wasn’t kidding.
I would spend anywhere between one and two hours a night after work reviewing all the different aspects and technologies our product addressed. My friends and family would often ask why I would dedicate so much time to my company after hours especially since I wasn’t getting paid. What they didn’t understand was that while I may not have been paid for the hours I spent studying, the hours I spent definitely paid off. I was able to sell more, and earn more, than if I had not spent the time learning the product inside and out.
Get to know the product or services you sell so well that you become an expert. Trust me, it will all pay off in the end. If you know your product or service, your sales will increase dramatically. Remember, more sales equal more commissions. I recommend setting a certain amount of time aside each day or week to learning your product or service. You will be glad you did.
When you get to the point that you intimately know your product, you will know how to sell that product in various circumstances. If you know what your product does, you know what options it offers and which options to lead with or highlight based on the needs of your customers. Knowledge equals success.
Free Inside Sales Industry Research
Gain access to additional inside sales industry research, including the original Lead Response Management study.