Benefits Based Selling.
Features vs Benefits. Sometimes it can be confused as one of those “fine line” kind of situations. I can tell you right now. The line is clear between these two terms. Today you’re going to learn how to use these terms to your advantage. If you want to increase your conversion, this is how you do it.
The lack of benefits based selling is the reason why conversion rates can get low. Long gone are the days of being able to shove low prices and features down your customer’s throats. People are more aware than ever. If you can’t show them how your product enriches their lives, they will simply go to your competitor.
Here is a clear cut example of the difference between a feature and a benefit:
This new computer has the latest Quad Core I7 processor with 64 gigs of Ram.
What this means for you is you’ll be able to open many programs without slowing your computer down.
As you can clearly see the feature is meaningless. To most people it is jargon. The benefit is what gives your product a purpose. It creates value for your customer. It is the reason they will buy from you.
Learn that line “What This Means For You”. When you mention your product’s features, follow it up with that line. This is how you create the value. You see the majority of people believe value is centred around price. This is wrong. How much meaning your product gives to your customer is the measurement of value. It is also the key factor in being able to sell your products for a higher price.
Keep in mind – Features Tell. Benefits Sell.
To capitalise on benefits, you just need to paint a picture for your customer. Let their imaginations go wild. Below are examples of benefits selling that generate value for your customer’s lives.
“(Feature) Those shoes match your pants perfectly. (Benefit) You’re going to feel confident and command respect in that meeting you’re going to.”
“(Feature) We can do your tax return for $100, that will include your personal income tax and your business tax. (Benefit) So what this means is you don’t have to run around looking for a separate accountant. We’ll save you the time and cover all your tax needs.”
“(Feature) We provide 2 free dental check-ups and cleans per year. (Benefit) What this means for you is that you’ll keep your teeth healthy. You’ll also limit trips to the dentist which will save you money in the long run. Not only that, everyone loves a great smile.”
“(Feature) We actually use (some special cleaning product) to clean your tables. (Benefit) You’ll find your tables will be less prone to markings, so you won’t have to clean them as much.”
The Power Tool:
“(Feature) This particular Ryobi drill uses the latest battery technology. (Benefit) Now you’re not going to get caught out in the middle of a job with no drill. And you don’t have to carry that spare battery anymore.”
Build a list
An easy and effective way to start using this style of selling is to build a list of benefits. Look through your products and services. For every feature you have, write down 2 ways they would help a customer. Now every time you mention that feature you MUST mention the benefit straight after it.
Use benefits as reinforcement messages
Just before you are about to attempt at closing a customer, bring up some of the key benefits. You can also use it when you feel the customer is slowly getting disinterested. It will reinforce the value of the item or service they are purchasing, and bring them back into the conversation.
Use them as part of your needs analysis
The use of benefits isn’t confined to when you’re presenting a product. It can be used all over the place in a sales pitch. An alternative way to convey the benefit of the super battery drill would be:
You – So what’s wrong with your current drill?
Customer – We keep losing the spare batteries, and they’re expensive to replace.
You – Well our Ryobi uses a magic battery that lasts a whole week. You’ll be able to drill nonstop and ever have to buy a spare battery again.
Now, truly reflect on how you speak to your customers. Do you throw out a list of features and drown them? Or do you uplift them by creating value and bringing benefits into their lives?
Let us know what you do and how you go about it.