By knowing what your product/service has to offer and what will make customers buy, you can begin to identify common characteristics of your potential market.
There are many different consumers who desire safety as a benefit when purchasing a car. Rather than targeting everyone in their promotional strategy, a car manufacturer may opt to target a specific group of consumers with similar characteristics, such as families with young children. This is an example of market segmentation.
– Identify Why A Customer Would Want To Buy Your Product/Service
Here are some other examples emphasizing benefits beyond the features:
- A website vendor who offers hosted solutions to medium-sized businesses can emphasize the convenience and time-savings of not having to maintain a website. It’s selling convenience, not software.
- A carpet company might be more successful if it illustrated how its carpets could help create attractively decorated interiors. Pictures of beautiful rooms could be more beneficial than a stack of carpet samples or a list of fabric features. It’s selling beauty, not carpets.
- A consulting company might focus its marketing efforts by highlighting its end product–improved performance and increased profits, not its consulting methods. It’s selling profitability, not consulting.
Features Tell. Benefits Sell.
When Do Features Make the Difference?
Although benefits are generally more important than features, there are some times when features make all the difference.
Features always matter because they provide your customers with hints about how well your product or service will deliver its benefits. When all the products in a category provide the same basic benefits, a unique feature may provide a competitive advantage.
When products or services can be easily compared with competitors’ (think of Amazon or Yelp reviews) consumers can choose products and services with the most features.
Think about cell phones. Beyond being able to make calls and send texts, a person considering which cell phone to buy may not choose a certain model if it is missing a feature not found on a competitor’s phone, such as a great camera.
Tip: Focus on communicating the benefits your product or service provide customers. They will easily see features. Benefits may not be obvious.
Distinguishing between features and benefits will help you when communicating with the customers most likely to respond to your marketing messages.
– Determine Your Best Offer
Before tuning into the Live Webinar, please read the content included in this lesson page.
We will be discussing online the best product and service to offer based on your target audience needs and industry trends.
Features + Benefits
9:00 AM to 10:30 AM
Tip: Give yourself a jumping off point while everything is still fresh in your mind. Remember that you can always return to flesh out your ideas.
– Features and Benefits
We discussed online the best product and service to offer based on your target audience needs and industry trends.
We showed you how to unpack the features of a product or service so that it matches the benefits of a select product or service; ensuring it caters to the needs of an audience.
In your groups, provide your rationale for a product or service on the discussion forum; provide and listen to the feedback of your group re: offer viability, potential, challenges, currency, etc.
Take some time to answer the worksheet questions about the features and benefits of your product or service. If you haven’t yet already spoken to your customers and conducted market research, you’ll want to revisit your thinking after you do that.
Even if you haven’t yet conducted market research, still craft your responses. Being able to articulate your responses will help you when you are conducting research with prospective customers.
Features and Benefits
- What are the unique features of the product/service, such as cost, design, quality, and capabilities?
- What benefits does the customer receive?
- What problem is solved for the customer?