Why Product Knowledge Is Important in Recruitment

What is product knowledge? Do you really need it? Is it important? In the competitive world of recruitment, the answer is ‘yes.’ Understanding the features, benefits, and value of a product or service that a company offers can make a significant difference in the success of hiring processes. It involves comprehending the company's mission, vision, values, products, services, and competitive advantages. But that’s not all. There's more to it. This article will walk you through the significance of product knowledge in recruitment and how it plays a key role in finding the right candidates for the job.

Why Is Product Knowledge Important for In-House Recruiters?

It’s a must for in-house recruiters to have a deep understanding of the product or service that their company offers, as well as the market and the customer needs. Why? Here are two main reasons:

• Hiring better teams that serve the product teams and customers: Product knowledge helps in-house recruiters identify the skills, competencies, and personalities that are required for each role in the product team. It also helps them assess the candidates' fit with the product vision, culture, and values.
• Knowing what to look for: With product knowledge, in-house recruiters can craft effective job descriptions, screening questions, and interview questions that are relevant and specific to the product or service. It also helps them evaluate candidates' product knowledge, problem-solving skills, and customer-centric mindset.

You can also take your candidate pool to the next level by using a tool like Manatal’s ATS to ensure candidates for in-house recruiter roles have the potential to learn and understand product knowledge. You can use its resume parsing to quickly sort through a high volume of CVs to zero down on relevant skills. You can also leverage Manatal’s AI Recommendations to give scorecards and list down talent who are most likely to fit the roles.  

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Types of Product Knowledge

Product knowledge can be divided into two types: factual and experiential. Factual product knowledge refers to objective information about the product's features, specifications, price, availability, etc. On the other hand, experiential product knowledge refers to subjective information about the product's benefits, use cases, customer testimonials, etc.

Both types of product knowledge are important for different purposes. Factual product knowledge helps customers compare different products based on their attributes and make informed decisions. On the other hand, experiential product knowledge helps customers imagine how the product can solve their problems or improve their lives based on their emotions and values.

For example, if you are selling a laptop, factual product knowledge would include information such as:

• Processor speed
• Memory size
• Battery life
• Screen resolution
• Weight
• Warranty

Experiential product knowledge would include information like:

• How fast the laptop can run multiple applications
• How much data you can store on the laptop
• How long you can work without plugging in
• How clear and vivid the images are on the screen
• How easy it is to carry around
• How reliable and secure the laptop is

To provide effective product knowledge, you need to balance both types of information depending on your audience's needs and preferences. Some customers may want more factual information while others may want more experiential information. You need to tailor your message accordingly.

The Uses of Product Knowledge in an Organization

Product knowledge is useful for everyone in an organization, not just for sales and marketing teams. Here are some examples of how different roles can benefit from product knowledge:

• Product managers need product knowledge to develop and improve the product based on customer feedback and market research. They also need to communicate the product vision and roadmap to internal and external stakeholders.
• Product Developers can leverage product knowledge to understand the technical aspects of the product and how it solves customer problems. Moreover, they need to collaborate with other developers and testers to ensure quality and functionality.
• Product Designers can use product knowledge to create user-friendly and aesthetically pleasing interfaces that match the product's features and benefits. They also need to test and iterate their designs based on user feedback and data.
• Product Marketers need product knowledge to create effective campaigns and content that showcase the product's value proposition and differentiation. Also, they need to analyze and optimize their marketing efforts based on performance metrics and customer behavior.
• Salespeople utilize product knowledge to present and demonstrate the product to potential customers and answer their questions and objections. They can also negotiate and close deals based on customer needs and expectations.
• Customer service representatives can use product knowledge to provide support and guidance to existing customers who have issues or questions about the product. In addition, they need to collect feedback and suggestions from customers and relay them to the product team.
• Leaders & Stakeholders need product knowledge to set strategic goals and direction for the organization based on the product's potential and performance. They also need to inspire and motivate their teams by sharing the product's vision and mission.

As you can see, product knowledge is essential for every role in an organization that is involved in creating, marketing, selling, or servicing a product. It helps align everyone on the same page and fosters collaboration and innovation.

How to Grow and Improve Product Knowledge

Product knowledge is not something that you can learn once and forget about it. It is something that you need to constantly grow and improve as your product evolves and your customers change. Here are some tips on how to grow and improve your product knowledge:

• Use your own product: The best way to learn about your product is to use it yourself. This will help you discover its strengths and weaknesses, its advantages and disadvantages, and its features and benefits. You will also be able to empathize with your customers better by experiencing what they experience when using your product.
• Read industry news: Another way to learn about your product is to keep up with industry trends and developments that affect your product or market. You can read industry blogs, magazines, newsletters, reports, etc. You can also attend industry events such as webinars, conferences, workshops, etc. This enables you to stay updated on what's happening in your field and what's coming next.
• Learn from competitors’ recruitment teams: A smart way to learn about your product is to study how your competitors recruit for their product teams. You can research their job postings, screening processes, interview questions, and hiring criteria. This will help you understand what skills and qualities they value in their product team members, and how they differentiate themselves from other companies. You can also learn from their mistakes and avoid them in your own recruitment strategy.
• Attend sales demos of your product: A practical way to learn about your product is to attend sales demos of your product that are conducted by your sales team or external partners. You can observe how they present your product to potential customers, how they highlight its unique selling points, how they handle objections and questions, and how they close the deal. It’s always nice to ask them for feedback and insights on your product, and how they think it can be improved or marketed better.

Conclusion

Product knowledge is not only a skill but also an asset for in-house recruiters. By learning about the products they are recruiting for, they can gain a competitive edge in the talent market, and hire the best people for the product team. Product knowledge also helps them in the long term, as they can acquire more industry or category-specific knowledge that can enhance their credibility and expertise as recruiters. Essentially, product knowledge is a key factor in recruitment success.