Products and services are the main drivers of a company’s revenue. That’s why most businesses are well aware of the fact that they need to try their hardest to make sure their product or service:
All in all, your service or product needs to be useful to your potential client if you want to market it successfully and sell it to make a profit and grow your business.
Today, we are going to discuss the benefits and advantages of your product, as we believe these aspects are not always considered — at least not in a way that will yield great results.
In this piece, you’ll see exactly why we believe you are likely not doing enough when it comes to truly acknowledging your product’s benefits and advantages.
Let’s explain what we mean by this and see where we can find room for improvement.
You probably believe that you’ve already considered all the advantages of your product or service. After all, you know exactly how useful the product is to your customers, and you know all the benefits it brings.
However, most of our clients realize they have been wrong about this only when we start discussing their brands and products. They quickly see that they have missed a lot of important things. For instance:
In fact, the biggest problem we’ve noticed with our clients is that they have certain opinion regarding their products’ usefulness, whereas their customers hold the opposite view.
To fix this, you need to truly grasp the advantages and benefits of your product or service and understand how they differ from each other.
As you can see, benefits and advantages need to be separated from the features. Still, even though the difference is clear, it’s often miscommunicated to the customer.
However, the distinction between benefits and advantages is still the most crucial one. Unfortunately, though, it’s often non-existent in the minds of sales people, executives, and even leaders.
To fully grasp the difference, the following explanations should help:
So, in general, when a potential customer expresses the need for your product, you will be expected to share all of its beneficial aspects. On the other hand, if you want to lead your customers to believe that such a product is absolutely necessary, then you should present its advantages, regardless of whether or not they need this product at the moment.
To truly understand the benefits and advantages of your product, you need to know it inside out. You also need your team to understand how to sell it or pitch it properly to potential customers.
To learn more about the product or services, you and your team members can use different sources of information, both traditional and creative ones:
Besides this, you also need to grasp the product’s shortcomings and be sincere about them with your customers. It might sound counterproductive, but customers appreciate honesty, even if it shows a few weaknesses of what you’re offering.
Now that you fully understand the benefits and advantages of your product or service, you need to implement this knowledge into your own organization.
With that in mind, we have a Product/Service Advantage & Benefit Tool for you. It has been designed to help you analyze the product or service you offer and create a matrix of features, advantages, and benefits that will be used to facilitate the selling process.
With this tool, you will be able to understand and improve your products or services. Furthermore, you can also use it to analyze the features, advantages, and benefits of working within your organization in general.
To learn more, feel free to contact us. Let’s work together on improving your brand.