Are You Still Selling Features? Focus On Customer Benefits

What's The Difference?

A feature describes something about your product or service.

A benefit focuses upon what your business, product or service does for your customer.

It is easy to fall into the trap of describing features. Always remember that people buy to gain some benefit—what it does for them.

Do You Want A Low Interest Rate?

Consider mortgage brokers who advertise the lowest interest rates. That's great—noone likes to pay more than they have to! What does a low rate actually do for the customer?

Well, it might mean they can afford a mortgage and still dine at restaurants, go on holidays or buy a new car... but then they might be better off with a slightly higher rate.

A good feature to have is directing all your income into your mortgage and being able to make additional payments. The benefit of this is you will be able to pay off your loan quicker resulting in financial freedom much earlier.

Another feature might be redrawing money as needed. Perhaps you need a new car, love holidaying overseas, or have unexpected health issues that you now need to cover. The flexibility of your mortgage can ironically provide you with financial security.

Give People What They Want

People aren't really looking for the lowest rate, but what that low rate does for them.

People don't want to make additional repayments, but they do want the benefits of reaching financial freedom earlier.

People also don't want to go into further debt by redrawing, but the security of being able to redraw as need and in times of crisis is quite reassuring. 

It's a simple distinction, but one that makes a huge difference! You need to point out benefits and ideally your unique selling points. Do not think that visitors already understand the benefits—you need to point them out and sell them.

Don't make potential customers figure out your benefits for themselves. Always tell them exactly how your business and features will benefit them. Spelling out the specific and distinct benefits of products and services will generate more customers than listing features.