In sales, knowing your product is only half the battle. Without understanding the competitive landscape and the broader market, you risk falling behind your prospects who are often more knowledgeable than you are about your industry. The best salespeople don’t just know their products—they are experts in the entire ecosystem surrounding their offerings.

I learned this lesson early in my career when I met with facility managers. These professionals were well-versed in my industry’s ins and outs, from chemical supply vendors to government regulations. They even knew more about the specific products I was selling, such as material safety data sheets (MSDS), than I did at the time. My lack of knowledge on these crucial details left me feeling embarrassed and diminished my credibility.

The solution to this challenge is simple but powerful: become an expert not just in your product but in your industry as a whole. Understand your market, your competitors, and all the players involved in solving your prospects’ problems. Learn the ins and outs of the industry, their terms, and what they talk about. Knowing your competition’s strengths and weaknesses, as well as the broader market trends, will help you address concerns and position yourself as the go-to solution provider. This makes it easier for prospects to have confidence in you. If you know the business, they’ll have more faith in what you’re offering.

By immersing yourself in the industry and the challenges it faces, you can anticipate prospects’ questions and concerns before they arise. Have conversations, learn from other providers, and take the time to stay updated on industry news. When you’re seen as an expert in your field, prospects are more likely to trust you and close deals.

When you know your industry inside and out, sales interactions become smoother, more consistent, and ultimately more successful. Stop focusing solely on your product and start mastering the sales methodologies that will make you a trusted advisor. When you do, closing more deals becomes a natural outcome.