Training – a word that is met with scorn by most product managers. Most product managers simply fail to acknowledge that proper training is an integral part of the product management process. According to a research by Corporate Visions, only 38% of companies conduct formal product training programs.
The most important reason why most firms don’t train their people on products in a systematic manner is that they view product training as a cost activity and not as a profit-generating activity. BUT, facts say otherwise.
Good product training helps companies increase revenues by at least 69%. – A study conducted by Experticity
1. But, who needs product training?
You need to provide product training primarily to four groups of people. They are:
- Sales people
- Service technicians
- Channel partners such as dealers
Let us now see how effective product training can help each of these groups. Good product training helps:
Salespersons close more deals
Sales staff members need to convey the value proposition of products effectively to make a sale. Effective product training enables sales people to relate the features of the product to the buyer’s needs, and this goes a long way in closing a deal. It also helps salespersons handle objections raised by potential customers and showcase the superiority of the product vis-à-vis competitors’ products.
Technicians provide better service
Itis important to train your technical service personnel well on your products. Effective product training enables your technicians to perform their job tasks quickly and efficiently. Technicians, who provide the best service, help increase customer satisfaction levels, and a satisfied customer is more likely to remain a loyal customer.
Channel partners make more sales
Your channel partners should be well-versed with your product range and the benefits they offer to end-customers. You need to train themon the USPs of your products vis-à-vis those of competitors. Unless they understand the features and utilities of the new product, they will not be able to advocate the same to the end-consumers.
Customers make the best use of your products
Well-designed product training programs enable customers to make the most of your products. They help reduce product usage issues considerably, and this goes a long way in ensuring they do not switch to your competitors.
Thus, we see that good product training plays a key role in enhancing your bottom-line revenues. Hope you liked this post. Do share your views.