The biggest mistake made in marketing — and a reason that success can be so elusive — is failing to clearly explain what you are selling. Specifically, the benefits to your consumer. We’re all looking for the answer to one very specific question: What’s in it for me? Consumers rarely make buying decisions based on a product or service’s features; yet that’s what most businesses promote over and over again. People don’t buy features; they buy the benefits that those features offer. Does what you are selling save me time, cut down on stress, or make me more organized and efficient? Because that is what I am looking for.
To make it a little clearer: people buy results. Many businesses assume that their customers know what the benefits are, and exactly why to buy their product or service. They leave it up to the prospect to derive their own benefits.
And you may say that of course you are selling you and your firm to your prospects. But how clearly? And are you focusing on features OR benefits? Do you fully understand the difference between the two? Oftentimes, the two are confused.
Definition of Features: Features are factual statements about — often distinctive characteristics of — a product or service. Features are a means of providing benefits to customers; for instance, “I have a ChFC designation” or “I complete 30 hours of continuing education each year” are features.
Definition of Benefits: Benefits are value statements about the feature of a product or service, with an emphasis on what the customer gets. A benefit answers the question, ‘Why should I care?’ A benefit tells you that you should care because of the result. For instance, “The intense requirements of holding a ChFC designation are there to insure that I stay on top of my game as an agent and provide an elevated level of expertise to clients. It has been incredibly important as I’ve taken clients who want to protect and rebuild their assets through the turmoil of today’s economy.”
Messaging is the key! When you create, define and refine the exact messaging, the first goal is to leave the prospect feeling that they might be making a mistake if they don’t at least schedule an appointment or find out more. Some professionals have spent literally weeks focusing on precise messaging to construct the benefit statements they use. Why? Because it makes a huge difference in ultimately closing more sales!
Are you ready to start focusing on the benefits that you and your company have to offer?
Maribeth Kuzmeski
Maribeth Kuzmeski, MBA is the founder of Red Zone Marketing, LLC, which consults to Fortune 500 firms on strategic marketing planning and business growth. She is the author of 4 books, has frequently appeared on TV and radio, and has written articles on marketing strategies for hundreds of publications including Business Week and Entrepreneur. She regularly speaks to audiences on topics relating to business development, marketing, and sales strategies. Maribeth is author of The Connectors: How the World’s Most Successful Businesspeople Build Relationships and Win Clients for Life (Wiley, September 2009).
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