How do you know when it's time to update your product knowledge?

1 Market changes

One of the most obvious reasons to update your product knowledge is when the market changes. This could be due to new competitors, regulations, customer preferences, or industry trends. If you don't keep up with these changes, you risk losing your competitive edge and missing out on opportunities. To stay ahead of the curve, you should monitor the market regularly, subscribe to relevant newsletters and podcasts, and attend webinars and events.

2 Product updates

Another reason to update your product knowledge is when your product or service changes. This could be due to new features, enhancements, bug fixes, or integrations. If you don't know what's new and improved, you can't showcase the benefits and value of your product or service to your prospects and customers. To stay informed, you should read the release notes, watch the demos, and test the product or service yourself.

3 Customer feedback

A third reason to update your product knowledge is when you receive feedback from your customers. This could be positive or negative, and it could come from various sources, such as surveys, reviews, testimonials, or referrals. If you listen to your customers, you can learn what they like and dislike about your product or service, what problems they face, and what solutions they need. To stay responsive, you should follow up with your customers, ask for their opinions, and thank them for their input.

4 Sales performance

A fourth reason to update your product knowledge is when you notice a change in your sales performance. This could be an increase or a decrease in your sales metrics, such as leads, conversions, retention, or revenue. If you analyze your sales data, you can identify what works and what doesn't, what gaps and opportunities exist, and what actions and improvements are needed. To stay effective, you should track your sales results, review your sales process, and adjust your sales strategy.

5 Learning needs

A fifth reason to update your product knowledge is when you feel a need to learn more. This could be due to curiosity, interest, or ambition, and it could be triggered by various factors, such as feedback, challenges, or goals. If you embrace learning, you can expand your knowledge, skills, and confidence, and become a more valuable and successful technical sales professional. To stay motivated, you should set your learning objectives, plan your learning activities, and measure your learning outcomes.

6 Knowledge sources

A sixth reason to update your product knowledge is when you discover new sources of knowledge. This could be internal or external, and it could include various formats, such as articles, books, videos, podcasts, or courses. If you explore new sources of knowledge, you can gain new insights, perspectives, and ideas, and enrich your product knowledge. To stay updated, you should diversify your knowledge sources, evaluate their quality and relevance, and apply what you learn.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?