You have an incredible product/service. You have a phenomenal presentation showing the features and benefits of your product/service. However, you are not making any headway. Why?
Is this scenario familiar to anyone? Let’s take a closer look at this often occurring situation.
What we must all accept, is that consumers today are aware and educated about our products/services even before they meet us. Therefore, if you are still highlighting the features of your product/service, you are putting your audience to sleep as they in all likelihood know as much, if not more, than you may. Do not sell on features. If you do have to mention features, keep it to a minimum. When you have a good feel for the minimum, cut it in half.
People buy only if you can answer WIIFM, What’s In It For Me. Show them the benefit first.
“But Joe, I do show them the benefits and they still are not buying.” Great comment, however, note that I said ‘first,’ which means in all likelihood there is a ‘secondly,’ which there is.
Simply showing the benefit is not enough. You have to now show them the benefit of the benefit. Our prospects buy because of a want, need or that it will solve a challenge that they are having. What very few realize is what meeting that want, need or solving the challenge means to them in the long run. Hence, the benefit of the benefit.
For example; your product/service allows them to save time. Time-saving is great as we all only have a limited amount of time on this planet. However, what is the benefit of saving time? Is it spending it with your family, being able to take your child to an activity, is it being able to spend quality time with your partner?
“Bill by using our product/service you will save two hours a day based on the increased productivity and streamlining of your system. That means you will be able to take your child to their ball game and enjoy them playing with all the other parents.” You have shown Bill the benefit of the benefit.
“Sally, when we implement this new system in your company, you will be saving $X which will allow for higher profits allowing you and your family to take that European vacation that you have shared is a dream of yours.” Sally now has a benefit to the benefit.
My own case, I went to a local home show and there was this booth selling socks that improved balance. I was intrigued and went through a demonstration and was amazed at the results. However, I was only 50% convinced that I would purchase. Then I asked the question:
“When I go to the gym, my trainer has me doing a lot of stability ball exercises and I have a very difficult time with balance on the ball. Will this help?” The gentleman answered: “Studies have shown that it will improve your balance on the ball by 31% or more.” Wow! I thought even if I get just a little bit more balance on the ball so that I can actually concentrate more on the exercise that would be a great benefit. “I’ll take two. Thank you.”
They showed me the benefit of the benefit. Until then, I thought it would be nice, but not really convinced. How about you? You have the benefits all figured out for your product, but do you know the benefit to that benefit and do you know how to communicate it to your prospect? Once you do, you will have a killer presentation with a lot more yes’s than you had before.
Keep in mind, show me how it solves my challenge, I may be interested but if you show me how solving the challenge has a further benefit, then we have a deal.