Do you focus on selling benefits that customers really value, which consistently puts you ahead of most of your competitors?
|A.||We don’t really know why prospective customers buy from competitors.|
|B.||We have identified some benefits prospective customers receive from competitors.|
|C.||We have identified key benefits prospective customers receive from competitors, that they perceive they won’t receive from us.|
|D.||We have identified what benefits prospective customers’ value most, and we always sell benefits.|
|E.||We are totally focused on selling benefits that customers really value, which consistently puts us ahead of most of our competitors.|
|[Score: A=0, B=1, C=2, D=3 & E=4]|
Why is this question important?
Why do customers pay for your product or service?
What makes it unique and better than that of your competitors?
If a prospective customer approached you and asked “Why should I choose you over your competitor(s)”?
Would you be able to give them a good answer, or would you struggle?
Make sure the differentiating quality is something people want.
Before your customers can get to know you, it’s important to first know yourself and your company’s mission in the marketplace. Ask yourself the following questions:
- How is my product or service unique?
- Is how we operate our business unique?
- Do we service a niche market?
- What sets us apart from our competitors?
Now that you have a clear understanding of who you are, you must make a list of all your competitors and track them routinely, compiling the following about each competitor:
- What are their strengths?
- What are their weaknesses?
- What are their capabilities?
- Who is their customer base?
- What are their revenues and margin trends?
- What are their promotional and marketing strategies?
- What are their current customer centred offerings?
You must be able to demonstrate how your product or service helps your customer – does this means saving them money, time or making life easier, these are powerful benefits.
It is important to focus on customer needs from the beginning, basing your marketing activity and strategy on satisfying that need better than your competition. For every product or service you are offering, a FAB analysis should be prepared.
Give the customer what they want, offer benefits, not features. Customer focus aims at truly benefiting the customer. If you succeed in doing so, you too will benefit through building customer relationships.
It is imperative that you focus on ensuring your customer knows how your product or service will benefit them. Your aim should not be to show how a product functions along with all its power and qualities; you should be focusing on highlighting how your product can solve their problems.
It is key that you keep reiterating why they should buy from you, instead of why they shouldn’t. Once you understand where their pain is, you can address this pain by offering direct benefits rather than listing features.
A simple test to make sure that you’re on the right path is that every time you make a specific point, imagine your customer saying “Why is that important to me?” If you cannot answer this relatively simple question, it is unlikely that what you are saying is important to them.
It’s important that the benefits are addressing a particular prospect’s needs. Unless we focus on their specific needs and pains, then we could be discussing benefits they don’t really need. The way to understand their unique needs is to ask, then listen. Focus on their needs and pains and direct the benefits to them.
Ultimately if all you do when selling is list a product’s features, you’ll bore potential buyers and you’re unlikely to get the sale because you’re not representing the product in its most attractive form. Find out what key problem your buyer needs to solve. Think about how benefits offered by your product meet that need. This should be the focus of your communication and marketing.