Once upon a time somebody explained the concept of selling benefits and not features by saying that people don’t by drills, they buy the holes that the drill produces. I can’t say that I really understood the concept then, in fact I think I probably shrugged it off as a really weird analogy from someone that wanted to sound smarter than they actually were. The more time passes however, the more I realize the truth behind that statement and the importance of being able to articulate the benefits when selling and not getting hung up on the features.
I really like how Joe and Janette use this principle when they push for the first consultation meeting. It’s really easy to get lazy and tell people we’ll give them a free consultation. Joe and Janette focus on the benefits by offering an in-depth report that will show people exactly where they sit in their retirement. The fact that it comes through free consultation is a secondary fact. The focus is on the report and the information it contains that will benefit the client.
I think there is a great lesson for us all to learn (or maybe relearn). In everything that we’re offering, are we pitching the features or the benefits? We need to make sure that we are focusing on the benefit and not the tools that will provide the benefits. At the end of the day, Joe and Janette’s clients want to maximize their retirement so they have the most amount of money possible to make it through retirement. They’re not looking for an eBook, or a video series, or a white paper, or a DVD, or a Free Recorded message. The delivery format is secondary to the message.
I’m pretty confident that none of their prospects or clients would say, “This video series about how to reduce my tax liability by 50% so I have enough money to survive retirement looks really good, except I was really on the hunt for a good eBook so I’ll pass.”
So remember, in everything that you do, Features Tell, Benefits Sell. Or just remember that that people buy the hole not the drill. Or just remember to always focus on the benefit to the client, not the tool that creates the benefit. Or remember it however you want… 😉