Consider the elevator pitch for the product you sell. You probably begin by painting a picture of a common problem for your ideal customer then explain how the product and its features solve said problem. No matter where you work on the product, you understand customer pain points and know how the product fixes them. You're able to make choices based on this shared knowledge.

This collection of shared information is your product knowledge. It encases everything you know and communicate about a product, from its features to its ideal user. Good product knowledge engages curious customers and carves out a space for your product in the marketplace, with research showing that companies successfully engaging both employees and customers see a 240% boost in performance-related business outcomes.

So, how can you use product knowledge to boost your product's visibility and market narrative? Let's take a look.

Product knowledge includes everything about a product that explains its value and purpose. There are a few main goals of implementing this information:

• Engage prospective customers and pique their interest, setting them on a path toward making an informed purchase.

• Make education decisions about product updates, branding, and messaging.

• Keep current customers engaged and continue making adjustments to fit their changing needs

• Adjust with the ever-shifting marketplace to ensure the product always has a reliable foothold

Each team may use this knowledge a little differently, but the central goal is to understand the product, its ideal customers, and where it lives in the marketplace. Transparency is key here. Well-rounded product knowledge includes awareness of product flaws and potential solutions.

In summary, product knowledge is the cohesive (often collective) knowledge of a product.

When it comes to product knowledge, we're all in this together.

Why is product knowledge important?

Product knowledge is important because it directly impacts sales performance, customer satisfaction, and brand credibility. Teams with strong product knowledge close more deals, provide better support, and build lasting customer relationships.

1. Builds sales and brand authority

Those who understand their product can speak about their brand with clarity and authority, yet studies show that only 41% of employees feel they truly know what their company stands for and what makes it unique. Product knowledge also contributes to industry reputation—you could be the first company that comes to mind when a prospect thinks of the problem your product solves! If you can make a compelling narrative around a product, deliver on your product's promises, and offer a strong customer experience, you'll be rewarded with strong sales and brand authority.

2. Gives you the tools to communicate effectively

With a wealth of product knowledge at your fingertips, you can effectively communicate product-related information anytime, anywhere. This includes during a prospect discovery session or scoping an internal marketing campaign. Company-wide knowledge management systems give everyone access to this information, allowing product knowledge to be stored and shared company wide.

3. Increases conversions and sales

Knowledge of product metrics, conversion rates, and competitors will give you a strategic advantage in marketplace positioning. This data is a functional part of your overall product knowledge as it informs decisions on marketing strategies and offers insight into areas of opportunity. You can use it as concrete information to support product initiatives and be competitive in your industry.

4. Exceeds customer expectations

You don't want to just inform a prospective customer–you want to make a lasting impression, especially since fully engaged customers represent a 23% premium in profitability and revenue over average customers. Let them get to know your product as a brand to make a personal connection. You can use your product knowledge as it relates to customer needs and competitors to show customers how they are getting a unique product by adopting yours and the support they'll receive from your company.

5. Guides the implementation of new features

Products and services are changing frequently. To keep up with the market and customer demand, your company is most likely always looking to improve and adjust. This often means the creation and rolling out of new features. Working these features into your overall product knowledge can help current customers have a smooth transition into using them.

6. Creates a positive product support experience

The better you understand your product, the better you can support customers on their product journey. Creates a welcoming environment for prospects to adopt your product and seamlessly merge it into their existing workflow. A product is more than just its features and benefits–it is also the people and teams behind the scenes who are there to make a customer's experience comfortable and smooth.

Knowledge management systems support sharing information.

Types of product knowledge

• Customer: Understanding your ideal customer's wants, needs, and pain points through user personas and market research

• Brand: Your positioning, vision, and messaging that guides how you communicate about the product

• Industry: Market trends and insights that inform product positioning and improvement decisions

• Customer experience: Data about user interactions that helps you adjust to evolving needs

• Competition: Understanding how your product stacks up against market alternatives

• Integrations: How your product connects with customers' existing tech stacks

• Customization: Available options to tailor the product to specific customer needs

• Mission and values: How company principles align with and are reflected in the product

• Troubleshooting: Common issues and solutions that ensure positive customer experiences

• Complementary products: Additional offerings that enhance the main product experience

Product knowledge is most useful when shared across the entire company.

Examples of product knowledge

How can teams use product knowledge differently?

Product-led teams

Product-led teams capture several aspects of general product knowledge in their work. They're most likely thinking about integrations and customization aspects as well as customer needs and wants from the product. Product teams ask themselves what modifications to make to the product so it aligns with an evolving marketplace and continues to meet customers where they already work.

Sales teams

Product knowledge is the all-encompassing way to pitch a product. It highlights the features, benefits, and addresses setbacks that customers may have questions about. This knowledge supports sales teams as they discuss the product. The brand, narrative, mission, and values all come into play as a member of the sales team is explaining the benefits a prospect will see when using the product.

Customer-facing teams are often the first interaction prospects have with your company. This means their knowledge needs to be relevant and up-to-date.

Set your sales team up for success by providing them with real-time feature knowledge without asking them to navigate away from their workflow.

Customer and technical support teams

Customer support and product support work together to create a quality customer experience. How customer and technical support teams engage with customers is based on their product knowledge. These are teams that understand how to best teach and inform on the product. They also understand customer pain points and wants, so they can successfully address these aspects and meet customer needs.

Marketing teams

Branding, marketing, values, and mission statements all inform how marketing teams communicate about their product to prospects and current customers. The competitive landscape and marketplace are taken into consideration as marketing teams assess their product in relation to the other products available to customers. Marketing teams use their product knowledge to relay the product's narrative to customers and prospects.

Stakeholders

Stakeholders require background product knowledge before diving into a project. The exact knowledge will vary based on the project, but stakeholders will generally use company goals and mission statements along with marketplace and customer knowledge to make informed decisions about product updates, changes, or campaigns.

What to include in product knowledge training

1. Product cost

Prospects need to know if the products they're interested in fit within their budget. This is why it's so important that sales reps understand product cost and can accurately relay that information, which is a key reason U.S. companies invest an average of $1,459 per salesperson in training annually.

2. Product use

Here's where you lay out the product's intended use. This can include how to set up and get started with the product or best practices for day-to-day use. It's also a good place to list all the product benefits.

3. Product integrations

Integrations are a central part of product knowledge as it helps anyone understand where the product fits within a workflow. Here is where you share if the product integrates with the other tools in a customer's tech stack, so they can reference it without navigating away from their workflow.

4. Manufacturing and distribution process

How did the product reach its current iteration? Here you'll detail how the product became what it is today and the reasoning behind each product decision. This element of product knowledge helps inform who the product is for and why they need it. It can even hint to potential future iterations.

5. Servicing, troubleshooting, and warranty

Make sure support offerings for troubleshooting the product are a part of product knowledge training. As much as we try to avoid it, sometimes products run into problems. The users of those products need to be aware of their options if this happens to them.

6. Options for customization, styles, and models available

There's no one-size-fits-all for a single product. Product knowledge training needs to instruct on how a product can be customized or modified to fit within the needs of each customer. Include if there are different styles or models available that might cater to a specific kind of customer.

7. The product value

The product value goes beyond its price point or features. You're answering the question of what a product is going to do for a customer. This might look different for each product use case, but a product's value clearly communicates the benefits a customer can expect to see from using the product.

8. The problem it solves

Customers seek out new products to solve their existing problems. As part of your overall product knowledge, convey what problem is being solved and exactly how it's solved. This gives a prospect a clear understanding of whether or not this product works for them as well as how they can expect it to function.

9. Complementary or additional products

Any complementary or additional products should be pointed to as bonuses of using your product. They don't provide much value independently, but can be powerful when paired with the product. Use them to enhance overall product knowledge.

Types of product knowledge training

In-person product training

In-person product training provides a face-to-face environment to learn the ins and outs of a product. Depending on the product, this training type offers opportunities to practice demonstrating and using the product in person. It works best for those who prefer live group training sessions.

Hybrid learning

Hybrid learning and work environments have increased as companies hire more and more employees into hybrid or fully remote positions. Product knowledge training in these environments can be helpful for those who prefer a balance of in-person and independent training sessions.

Asynchronous and synchronous product training

This type of training is done entirely remote through DMs or video chats. It's more conducive to independent learning styles and is best done with a reliable company wiki on board. A reliable single source of truth supports asynchronous learning by easily storing and sharing knowledge.

Examples of product knowledge training

Take Guru's free product enablement training for a crash course in product training.

5 tips to improve product knowledge training

1. Customize product training for teams

Each team will prioritize different aspects of product knowledge:

• Marketing teams: Focus on competitive landscape and product narrative

• Support teams: Emphasize customer experience and troubleshooting

• Sales teams: Prioritize value propositions and objection handling

Make sure the learning material is relevant to your audience.

2. Make information easily accessible

When important product knowledge is difficult to surface you can't expect everyone to be equally informed, and research shows that nearly 30% of employees find it difficult, or nearly impossible, to extract the knowledge they need from company repositories. Store all your product knowledge in a single source of truth that invites company-wide transparency and removes information silos.

3. Implement various learning techniques

Everyone learns differently, so having a variety of learning techniques accessible during product knowledge training will come in handy. You can even offer different tracks for learners to take depending on the techniques they prefer. Understand the kind of people you'll be training then cater to their learning preferences.

4. Continuously improve the training process

Just like the market and your product are always shifting, your training process should also regularly adjust, especially since studies show participants in traditional trainings forget more than 80 percent of the information within 90 days. You should always be trying to make it better, easier, and more efficient for your team to learn the ins and outs of your product. Continuous improvement means your training will always make the knowledge stick.

5. Create measurable objectives for success

Those learning new product knowledge want to know when they've mastered the material. Create benchmarks throughout the training process and encourage trainees to hit them. You can use these benchmarks as stepping stones to reaching a full understanding of the product.

Scale product knowledge with your AI Source of Truth

Effective product knowledge is the engine behind confident sales teams, exceptional customer support, and consistent brand messaging. But managing this knowledge across scattered documents and siloed teams is a constant challenge.

As products evolve, keeping everyone aligned becomes nearly impossible, leading to inconsistent answers and missed opportunities.

This is where an AI Source of Truth becomes essential. Guru connects to all your company's information, creating a single, trusted brain that delivers verified, permission-aware answers everywhere your teams work—from Slack and Teams to your browser. Instead of manually managing updates, you can correct information once and trust it to propagate everywhere, with full auditability. By turning scattered information into a reliable layer of truth, you empower your people and AI to perform at their best. Ready to see how you can scale product knowledge without the management? Watch a demo.