Apu Pavithran is the founder and CEO of Hexnode, an award-winning Unified Endpoint Management platform.
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As a long, drawn-out process that includes conversations with multiple decision makers, enterprise sales is a whole different beast than SMB or mid-market sales. The process is as much about selling insights as it is about selling a product. The person who can sell customers the most thoughtful insights – show them the benefits, the outcomes and the future — will be the one who closes the deal.
The adage "knowledge is power" rings true because these insights are gained with a deep understanding of the product, the competition and the industry, especially in a hypercompetitive tech market. In fact, research conducted by Dr. Marshall Fisher of the Wharton School of Business indicates that sales representatives with expertise on the product sell up to 123% more than those who don't.
In the realm of enterprise sales, building your sales team around product experts cannot be understated. In this article, let's look at three key benefits of doing so.
Expediting Sales
Every time a salesperson is unable to answer a question, it means either a follow-up call, a follow-up email or, worst-case scenario, adding another salesperson with better expertise to the loop. This is a waste of both momentum and time.
As a salesperson, the ability to navigate through the buyer's questions and keep the conversation going gives you much more control over the sales cycle and allows you to keep the ball rolling. When customers begin to probe, inspect and ask pointed questions, demonstrating superior product expertise in an articulate and clear way is the only way to satisfy them. In short, if the sales team consists of product experts, they will significantly accelerate the sales process.
Securing Trust
A customer starts to trust a brand based on, among many other factors, their values, peer reviews and case studies. However, the customer experience is the cornerstone of securing trust. A fast-moving sales process, readily available support team and quick answers add to that experience. Who do you trust more — someone with ready answers or someone who takes time to answer? An enterprise sale provides businesses with a unique chance to help build on this trust and leave a lasting impression.
An expert can sell benefits instead of features. That is what customers want. They don't need someone who regurgitates marketing jargon. A compelling sales call demonstrates how a product or service would suit potential customers' particular requirements or complement their existing stack. Such discernments are possible only when the salesperson has intricate knowledge of their product and their industry.
Speaking of trust, customers enter a conversation armed with information about the product they want. Imagine a scenario where the information the sales team conveys does not coincide with the information on the company website or marketing releases. Both the salesperson and the company lose trust. A sales team consisting of updated experts who possess the current product knowledge can prevent these kinds of disappointing pitches.
Making a unique product or feature today is becoming an ever more daunting task, but businesses can stand out in such a saturated market in other aspects. Consider the buying experience. A customer might start a conversation by asking about a particular product or feature; in some cases, the customer may not even know what they need. The salesperson should be able to deduce from the conversation that the customer is better suited for another one of the company's products or features (or an add-on product). The salesperson could then proceed to explain the reasons why and, in doing so, establish that they have the customer's best interest in mind, which is much more likely to improve trust and help create a lasting impression.
Building Confidence
When a prospective customer is still reluctant to commit, the salesperson's confidence (or lack thereof) toward the company's product or service could be the difference in closing or losing the sale. A salesperson's unwavering belief in the product, however, could be the nudge required to complete the sale.
Becoming an expert who knows the product, the industry and all the product's minute features can help cement that confidence. This confidence also translates to an enthusiasm to sell the product. Together, they are a powerful combination for a salesperson. It allows them to create excitement for the product, remove any uncertainty about the product not being the right fit and finalize the sale.
Bottom Line
Enterprise sales is a game-changer in terms of growth and revenue. However, the long sale cycles and higher levels of risk require an efficient team of experts to tackle it. Product knowledge allows the sales staff to portray their products and services with better accuracy and enthusiasm, which inspires customers' trust. The inclusion of product experts in an enterprise sales team is no longer a luxury but a necessity.
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