Showcasing the features that make your product unique is what helps to set it apart from the competition. Features can communicate the capability of a product or service, but features are only valuable if the customer sees those particular features as providing a valuable benefit. Benefits are the reasons customers buy the product or service.
Sometimes, it can be difficult to tell the difference between the product’s features and the benefits, as many features might sound like benefits. The good news is that features can always be transformed into benefits. In fact, this process will help you create the strongest benefits possible. Highlighting benefits in your marketing and sales efforts, can help lead to higher sales and profits. Here are some tips to define product features and benefits:
For example:
- Great gas mileage on a car is a feature; the amount of money you can save on gas is a benefit.
- Pockets on the front of a backpack is a feature; having a handy and easily-accessed place for your keys and cell phone are benefits.
- Home delivery is a feature; not having to take time out of your day or go out of your way to the store is a benefit.
A simple way to distinguish between a feature and a benefit is tell the audience how the feature will benefit them. Features are your products’ characteristics that translate into benefits. Benefits that provide emotional or financial rewards are especially attractive to people. Financial rewards allow the buyer to save money, make money, or gain time (since time is money). Emotional rewards allow the buyer to feel better.
Reap the Benefits of Asking Your Customers:
Never underestimate the value of your customers’ opinions when trying to clearly identify your benefits. There are numerous strategies for incorporating your customers’ feedback.
Consider your target markets’ viewpoints:
- Develop surveys.
- Talk to customers and ask them for suggestions or ideas for improving your products and services.
- Look at who has purchased your product in the past.
- Develop profiles (a list of information) about these customers. What do the profiles tell you about your benefits?
Complaints can have value, too. On the reverse side, understand the value of customer complaints. What benefits are missing? You could even train employees to question customers about what they like and don’t like. Once you know your benefits, use them relentlessly in your marketing
For more information or help marketing your product’s features and benefits in the New Year, contact the Economic Development Collaborative-Ventura County. Conveniently located in Camarillo, California, we’re here to help.
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