Features
A product Feature describes facts or characteristics about the product or service you are selling (i.e. what the policy covers), what it is made up of. Some sales people “vomit” all over their clients, they overload the client with too much information about the features of the product or service which ultimately only confuses them. No-one buys in a state of confusion. If this state is induced due to information overload, the client will “want to think about it”. The client will resist buying because they will not be able to see how the product or service will benefit them. Obviously, we do need to give clients information about products / services, however, these are the features of the product, and people do not buy features. People are motivated to buy based on how they feel about the product or service and what it will give them. People buy emotionally. The notion of the motivating brand is selling to emotions.
Advantages
A product Advantage describes how a feature can be used to help the buyer (e.g. “Because of [that feature]. you’d get a quick response to a breakdown.”)
Benefits
A product Benefit describes how a feature or advantage meets an explicit need expressed by the buyer. In other words, what does it mean to the customer? * Notice that we’re using a very specific definition of benefits.
While some benefits may be generic (or implied), there are also personal benefits (based on expressed needs). Personal benefits are those that meet the persons particular needs. These when discovered, will see higher conversion rates because the sales person has been able to discover the clients TRUE needs.
By linking your product / service to your buyer’s expressed needs, you demonstrate that you can help with the issues that matter most to your buyer. By getting the buyer to express that need, you confirm its importance. Based on the definitions we’ve explained here, average sellers tend to use advantages, which address only implied needs, while the most successful use benefits, which directly respond to expressed needs.
Research shows that benefits, as defined here, are the most persuasive way to describe solutions, and are particularly powerful in complex sales (insurance is complex for the customer).
When we sell benefits, the customer understands what’s in it for them (WIIFM). If a customer can say “so what” to the product, then you know that the benefits of the product have not been stated in a way the meets that clients need. Never assume that a customer understands the benefit a feature offers. Always point it out. Personal benefits are real. The more benefits you apply to the customer’s needs, the more they will become aligned to the product or service. They can then understand how the product or service will solve their problem.
For more information please contact Anna Zammit on 08 9260 0000