In this video, we’re diving into the four essential pillars that form the foundation of an effective product training program. From aligning content with business goals to harnessing the power of a robust Learning Management System (LMS), we’re here to guide you on a journey that will empower your learners and drive product excellence.
Chapters
0:00 Introduction
0:15 Product Knowledge
0:49 Customer Knowledge
1:13 Competitor Analysis
1:45 Create value statements
Transcript
Product training is an essential part of your organization’s success. Without value-added product training, a marketing team cannot reach the right market, and a sales team will fail to answer critical questions that customers are seeking. Here are the four pillars of an effective product training program:
- Product Knowledge:
Understand what you’re selling. Having your team completely understand the product being sold is critical for creating strong customer relationships, building a positive brand reputation, and outperforming your competition. Let’s pretend, for this video, that your company sells bikes. You don’t want to just say that your bike has tires, but you want to be specific and say that your bike has X600 tires with rolling resistance and puncture protection. Being specific and understanding the product deeply helps build stronger relationships with customers, improves sales, and enhances customer experiences. - Industry and Customer Knowledge:
Understand what your customers are looking for. It’s not enough to just train your team about the specifics of your product. The training program needs to include aspects that give effective context to your products. Going back to the bike example, how is your bike being used by customers? Is there a specific problem that your bikes are solving for customers? What are the trends or changes in the bike industry? - 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. 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 know how your product stacks up against competitors and create a specialized pitch, improving their chance of a sale. - Create Winning Product Value Statements:
Once you understand your target customer, analyze competitors, and fine-tune your product knowledge, it’s time to create a value statement that will persuade customers for the final sale. A value proposition should be a clear statement that explains how your product solves customers’ problems or improves their situations, delivers specific benefits, and tells the ideal customer why they should buy from you and not the competitor. Going back to if you’re selling bikes, an example of a value proposition would be, “Our bikes come with adjustable seats and handlebars so they can be customized to fit your kids perfectly as they grow.”
If you want more information on how to improve your company’s training or product training in general, visit knowledgeanywhere.com. We have over 25 years of experience helping companies like yours, and we’d love to help you today.
