May I show you a simple technique that can double your sales, starting with the next person you meet? This single skill is so critical to your sales ability that without it, you will fail to make enough sales to prosper.
You must be fluent in the concepts of features and benefits, and how they’re inextricably married to each other, and to your future financial success.
90% of business owners cannot comfortably distinguish between a feature and a benefit. More than 90% of businesses fail in the first decade. Is this really a coincidence?
When we buy something, we do not buy the features of the product or service. We buy the benefits. What is the difference? And why is it important?
A feature is a factoid about your product, service or company. By itself it is pretty meaningless.
- The new Audi TT has an aluminium V6 spark-ignition engine with petrol direct injection, DOHC, two-stage variable intake manifold with two charge movement flaps, demand-controlled high-pressure and low-pressure fuel system. (I am speechless.)
- Technology highlights include, but are not limited to: FSI, Quattro, S Tronic transmission, multitronic acceleration, and TDI. (And now I am gobsmacked.)
- It is available in Brilliant Black, Brilliant Red, Ibis White, Metallic Condor Grey, Metallic Dakar Beige, Metallic Dolphin Grey, Metallic Silver, Metallic Sahara Silver, Deep Sea Blue Pearl Effect, Garnet Red Pearl Effect, Mauritius Blue Pearl Effect, Petrol Blue Pearl Effect, or Phantom Black Pearl Effect. (Ibis white? Ibises are kinda dirty grey!)
It has been my experience that nine out of 10 business owners and salespeople are quite happy to bury you in the factoids – often without seeming to take breath as they vomit forth. The problem is that we buyers don’t buy because of factoids. Hurl too many factoids in our direction, and we will make a quick exit – hoping never to see you again.
Don’t get me wrong! Some people are extremely interested in the factoids. They don’t often buy, however. In my experience the more debate about the factoids, the less likely the sale. (I started selling toasters (and other quality household products) at Stuttafords in 1974 and have not stopped selling since. And I am told that anyone who can sell “failure” as well as I have must be pretty darn adequate.)
If a feature is merely some fact about the product which apparently adds very little to the sales process, why does EVERYONE delight in issuing long lists of features?
I am glad you asked.
We marketers and salesfolk want these facts so that we can get to know the product (or service) inside out. And then, magically, transform every single boring factoid into a powerful sales statement — something we call a “benefit”. By the time you have finished this email course, (if you are a Business Warrior) you will be able to find five quality benefits lurking behind every single boring feature, even if that feature is hiding behind a bush 3 miles away on a dark night!
Shall we start?
A benefit is something of interest to the buyer. (Not ALL buyers: just the buyer in front of you right now.) A young woman walks into your Audi showroom. Chances are that she is not too interested in your DOHC (spark-ignition or not). And your FSI is not likely to get her out on a date either. So we need to find another factoid to work with: the twelve colour options!
How does a good salesperson transform the feature “Mauritian Blue Pearl Effect” into a benefit – something that might inspire the buyer?
If a benefit is unique to the person in front of you, surely it makes immense sense to find out as much as you can about that person. (For example, if she has 13 wailing waifs hanging off her, and looks like your father, then chances are she’d prefer a vehicle with more than 2 seats.)
Any good salesman has eyes, and can see the blue car she just pulled up in, and the blue D&G handbag, wonderfully coordinated with the blue Prada shoes. And he can see her blue eyes.
So, he transforms the factoid (the feature – the paint colour known as Mauritian Blue Pearl Effect) into a series of personal benefits by remarking how the blue pearl complements her eyes (or shoes). And how it just happens to be a popular colour choice so she won’t struggle to sell at a good price later. And it doesn’t show dirt nearly as much as any other colour, so it cuts down on washing and cleaning. And it is a perfect match for those beautiful Prada shoes.
If our sales hero has done his homework, the colour (12 factoids) can lead to hundreds of benefits. And he gets the sale without once mentioning the word aluminium.
That’s why sales professionals know every single factoid about their product, service, and company. They don’t share the factoids with a prospect. They turn each factoid into a benefit for you or me when we walk into their showroom, store, or office.
That’s all you have to do to double your sales – make a list of all the factoids (features) and then convert those into benefits that add value to the lives of your prospects. Business TV is big business in the UK, and I watch every single business program. Every single program shows some wonderful person, with a great product, but no sales skills – and that’s why they all ultimately fail.
Bottom line: if you cannot easily convert every single feature (of your product, service and company) into at least five benefits – then it would be wise to pursue a career outside sales and marketing.