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Sales Glossary: Benefit

January 26, 2024 (3mo ago)

Understanding and communicating the benefits of a product or service is essential for successful sales, as it shifts the conversation from the product to the customer, appeals to emotions, helps differentiate the product from competitors, and provides clear reasons for customers to make a purchase.

Sales Glossary: Benefit

Understanding the Concept of Benefit in Sales

In the world of sales, the term "benefit" holds a pivotal role. It's a concept that every salesperson must understand and effectively communicate to potential customers. This article delves into the depths of what a benefit truly is, how it differs from features, and why it's crucial in convincing customers to make a purchase. Additionally, we'll explore how to identify and articulate benefits to enhance sales strategies.

The Definition of Benefit

A benefit is the value that a product or service provides to the customer. It's not just about the specifications or attributes of what's being sold but rather how it makes the customer's life better, easier, or more enjoyable. Benefits are the practical or emotional gains derived from using a product or service.

Features vs. Benefits

It's essential to distinguish between features and benefits, as they often get conflated.

  • Features are the characteristics of your product or service, such as its size, functionality, design, and technology. They are factual statements about what the product is or has.

  • Benefits, on the other hand, are about the customer's gain from those features. They answer the "So what?" question that features leave unanswered.

For instance, a feature of a smartphone might be its 128GB of storage space. The corresponding benefit is that the user will never have to worry about deleting photos, videos, or apps to make room for new content.

The Importance of Benefits in Sales

Benefits are crucial in sales for several reasons:

  • Customer Focus: Talking about benefits shifts the conversation from the product to the customer. This customer-centric approach is more likely to resonate with potential buyers.

  • Emotional Connection: Benefits often appeal to emotions, making it easier for customers to form a personal connection with the product or service.

  • Differentiation: Clearly articulated benefits can help differentiate a product from competitors by highlighting how it meets the customer's needs better.

  • Decision Making: Benefits help customers make purchasing decisions by providing them with clear reasons why a product or service is worth their investment.

How to Identify Benefits

To identify the benefits of your product or service, follow these steps:

  1. List the Features: Start by listing all the features of your product or service.

  2. Ask "So What?": For each feature, ask, "So what? How does this feature benefit the customer?"

  3. Consider Different Customer Needs: Think about the different needs and desires your customers have. How does your product or service meet these?

  4. Use Customer Feedback: Look at customer testimonials and feedback. What benefits do they mention?

Articulating Benefits Effectively

Once you've identified the benefits of your product or service, the next step is to articulate them effectively. Here's how:

  • Be Specific: Vague statements don't resonate. Be specific about how your product or service will improve the customer's life.

  • Use Relatable Language: Speak the customer's language. Avoid jargon and technical terms that might confuse or alienate potential buyers.

  • Tell a Story: People love stories. Use anecdotes or hypothetical scenarios to illustrate the benefits in a relatable way.

  • Focus on the Most Relevant Benefits: Not all benefits are equally important to all customers. Focus on the benefits that are most relevant to your target audience.

Examples of Effective Benefit Statements

Here are a few examples of how to transform feature statements into compelling benefit statements:

  • Feature: Our laptops have a battery life of up to 18 hours.

    • Benefit: Enjoy the freedom to work all day without searching for a power outlet.
  • Feature: Our meal delivery service offers over 100 different meals.

    • Benefit: Never get bored with your meals again. Enjoy a new dish every day of the week.
  • Feature: Our software integrates with over 200 business tools.

    • Benefit: Save time and boost productivity by managing all your tools in one place.

Conclusion

Understanding and communicating the benefits of your product or service is essential for successful sales. By focusing on how your product can improve the customer's life, you create a compelling reason for them to buy. Remember, people don't buy products; they buy better versions of themselves. Identifying and articulating the benefits effectively can make all the difference in your sales strategy, leading to more satisfied customers and increased sales.