Tuesday, February 16, 2016

Product feature, advantage and benefit

In the business world where sales and marketing activities are key function to bring in revenue and profit, there is a saying that if you focus in selling your product feature, the sales process will generally be more difficult than selling your product advantage to the customer; and if you focus in selling your product advantage, again the sales process will generally be more difficult than selling the benefit that your customer can get from your product.

There are 3 motivations for people to buy something:

  • Fear
  • Need
  • Greed
And people see or evaluate the value of a product offered from these 3 points of view:
  • Money
  • Time
  • Risk or Effort
You can sell the benefit to your customer by understanding their major concern.

Normally, if your customer is in need of something you have, you can just sell them your product. So, if need is the major concern, your customer will most probably hunting for it, and what you need to do is to tell them you have exactly what they need.

Are they fear of losing money? Fear of having shortage in time? Fear of being exposed to risk? What can your product help them? Coming from the "fear" perspective, you can sell them the advantage of your product, which will probably reduce or eliminate their fear.

It is said that most business selling is through the greed motivation, which you need to tackle by selling the benefit. Can your product helps to bring in more revenue or reduce more cost? Can your product helps to speed up process? Can your product helps to mitigate the risk? Can your product helps to eliminate some of the effort?

What is the different between advantage and benefit? This can be explained by using some examples:

Example 1:
Product: Light
Feature: LED illumination
Advantage: Use much less electricity, has longer lifespan, less heat generated
Benefit: Save electricity cost, reduce hassle of replacing faulty unit, less risk of catching fire

Example 2:
Product: Printer
Feature: Laser jet
Advantage: Faster printing, handle high volume printing, waterproof printout, quality output
Benefit: Save printing time, presentable printout that you can confidently handover to customer as sales material, no risk of water smearing which is a major problem of inkjet printing


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