The Value of the right Product Knowledge
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Knowledge is Power Francis Bacon (1561 – 1626) Adequate Knowledge among Sales reps, Channel Partners, Influencers and Customers means increased sales results “Delivering knowledge, information and training to an audience beyond employees is one of the fastest growing segments of the learning industry, increasing at an annual pace greater than 25%”. (Bersin & Associates)
description
How the right level of product knowledge across target groups such as sales reps, channel partners, customers and influencers can increase sales results.
Transcript of The Value of the right Product Knowledge
Knowledge is Power Francis Bacon (1561 – 1626)
Adequate Knowledge among Sales reps, Channel Partners, Influencers and Customers
means increased sales results
“Delivering knowledge, information and training to an audience beyond employees is one of the fastest growing segments of the learning industry, increasing at an annual pace greater than 25%”. (Bersin & Associates)
Agenda
Challenges and Complications Companies are continuously experiencing challenges in relation to the achieving and maintaining the adequate level of Product Knowledge in their channel.
Solution HRDi is a system which achieves the adequate Product Knowledge level, monitors and measures the Product Knowledge level.
Implementation and Value If a company implements the HRDi system, it is done easily – and the impact is significant.
Inadequate Knowledge causes ”pain”
Innovation drives need for knowledge. Innovation represent 26-43% of revenue. (Telco 84% in 2009)
Employee churn in sales and customer service multiplies the value of efficient onboarding.
Success means more Customers & Sales Channel Partners who needs to understand the value of your offering.
Employees
Customers/ Influencers
Products
Channel Partners
Adequate Knowledge = More Sales
Equips and empowers the sales rep to match the different needs of customers.
The sales rep becomes an enthusiastic ambassador, confidently pitching the product.
Prepared with facts for winning objections.
-> More Sales
Agenda
Challenges and Complications Companies are continuously experiencing challenges in relation to the achieving and maintaining the adequate level of Product Knowledge in their channel.
Solution HRDi is a system which achieves the adequate Product Knowledge level, monitors and measures the Product Knowledge level.
Implementation and Value If a company implements the HRDi system, it is done easily – and the impact is significant.
We increase revenue & market shares
Our Business
Targeted and measureable upgrade of Sales & Product Knowledge for Sales & Customer Service representatives, Sales Channel Partners, Influencers and Customers.
Providing knowledge for your decision makers to make the right decisions and adjustments.
Knowledge Intelligence
Sales/Customer Service Knowledge
Improvement Material
Testing & Registration of activity
Automatic follow-up & Management involvement
Executive overview
ERP CRM HRM HRDi
SaaS
Knowledge, certifications & results: Targeted, fast, easy and efficient – for all relevant parties.
Agenda
Challenges and Complications Companies are continuously experiencing challenges in relation to the achieving and maintaining the adequate level of Product Knowledge in their channel.
Solution HRDi is a system which achieves the adequate Product Knowledge level, monitors and measures the Product Knowledge level.
Implementation and Value If a company implements the HRDi system, it is done easily – and the impact is significant.
The system ensures maximum impact
Your Company
Channel Product Manager
Marketing
Channel Partners
Customer operation
Customers/ Influencers
Alignment of Knowledge within Marketing,
Product Management, Customer
Operation, Sales Channel Partners,
Influencers and Customers – HRDi
creates the ability to optimize impact of
campaigns by ensuring required
Sales/Product Knowledge is present.
Product Knowledge
Promotion & Analysis
with HRDi
Launch of product, campaign or
sales partnership
Knowledge level
Launch of training/
promotion of knowledge
Traditional revenue development
HRDi revenue development
Gained revenue opportunities
90%
80%
70%
Time
Revenue HRDi shortens
Time-to-Knowledge &
Optimizes Impact
Value of Product Knowledge – Just in time
The system creates value – example
New Product Launch
60.000 units and DKK 5.000 per unit ~ DKK 300 mill.
Product Knowledge expected overall influence at least 5 %
Change in Product Knowledge from 18 % to 70 %
Impact from 0,9 % to 3,5 % -> 2,6 %
-> Increased value of DKK 7,8 mill.
-> Shorten time-to-knowledge/ early stage revenue generation
High ROI, - fast, easy and efficient
SaaS + existing databases
– Fast, easy and efficient implementation of solution
PULL-PUSH-PULL
– Knowledge always updated and relevant – fast
Automatic follow-up and management involvement
– High response rate and knowledge level.
Automatic on-boarding
– Efficient sales reps, fast, at a low cost.
ROI = increase + sustained sales
