People Knowledge Vs Product Knowledge
"People don't care how much you know until they know how much you care." - John Maxwell
Stanford once did a study on the subject of people knowledge vs product knowledge. During this study, Stanford observed sales and business professionals for months and the results were amazing. Stanford found that 87% of sales and business success was linked to people knowledge, while only 13% was linked to product knowledge.
While product knowledge is important, and it is useful to be able to inform your potential customers about all the ins and outs of your product, product knowledge is not what sells for most people. Think about a car, if a salesperson were to walk up to you and explain every spec and detail of a car, most people would be bored to death. What gets people interested in the car is a sales person who takes the time to learn their situation and their motivations. For example, somebody who recently had more kids might need a minivan, rather than a two seater sports car. It doesn’t matter how well you know your product, if you don’t know your customer and know how to treat your customer.