What’s In It For Me? Features VS. Benefits

#1 Station W.I.I.F.M

The first question every prospect should ask you (or at least is thinking in the back of their mind) is “What’s In It For Me”? What are the benefits if I buy from you? In the many marketing plans we have developed for both product-driven and service-driven firms, we found that very few firms really communicate the true benefits of their company’s products or services. In other words, companies have the propensity to describe features rather than true benefits. Does it answer the question, “What’s In It For Me?” (W.I.I.F.M.) for your prospect?

For example, the majority of the population does not really care about the cubic displacement of their BMW engine. However, they do care about the brand, the image and the resale value of owning a BMW. Charles Revlon, the great cosmetics entrepreneur, once said, “in the factories we manufacture cosmetics; in the department stores we sell hope!”

Customers Want to Know What the Benefits Are

It is imperative that your company uses your advertising, website and sales presentations to communicate the benefits of your company’s products and services. Remember, your future customers will continue to buy “W.I.I.F.M.?” and are rarely concerned about the processes or the features of a particular service or product.

In developing a Benefit Strategy for your company’s products or services, the benefits should always relate to one or a combination of these specific ends:

  • Solves a problem
  • Saves time
  • Saves money
  • Increases efficiency
  • Is unique
  • Increases productivity
  • Increases status

When you succeed in answering these questions, you will develop increased sales and repeat customers!