The feature benefit matrix is a helpful resource that highlights the differences between features vs benefits and that can be used to develop sales strategies. The first column in a feature benefit matrix lists the features of a product or service, while the next two to three columns identify examples of benefits.
Full Answer
What are features and benefits in sales?
In Sales, Features and Benefits are technical terms, and one of the first sales techniques rookie salespeople need to learn. A Feature describes a fact or characteristic about a product or service. It usually says what the product or service is.
How do you describe the benefits of a feature?
Describes how a feature helps the customer. Researchers tested the effectiveness of various benefit assertions in sales calls, and narrowed them to two main types: A type-A benefit, which shows how a product/service can help generally (this is the most commonly taught benefit definition).
What is feature-benefit selling?
Feature-benefit selling is the process of connecting your the things your product helps your customer do (features) to the goals it will help them achieve and the pain points it will help them eliminate.
Do features matter in sales calls?
Specifically: 1 Reps in unsuccessful calls spend somewhat more time discussing facts/features, but basically, features don’t have an impact on sales. 2 In successful small sales, describing features contributes slightly to success. ... 3 In larger sales, describing features is detrimental early in the call and neutral later. More items...
What is the purpose of a feature benefit chart?
A feature benefit chart goes over a product's features so that consumers can see what the product offers.
What must a salesperson know to create a feature benefit chart?
To prepare a feature-benefit chart, a salesperson must know: facts about the product. A customer interested in buying an expensive product asks a question you can't answer. The customer leaves without buying but promises to come back later.
What is Feature Benefit selling and how does it create selling points?
Feature-benefit selling is a straightforward but highly effective sales strategy. The premise behind it is simple: the salesperson's job is to connect the features of their product to the benefits the customer will receive if they use it.
Why is it important to relate features and benefits to customers?
When marketing your products or services, it's important to highlight both features and benefits for your customer. This way, consumers know what is included in a product or service while also learning how it can add value to their lives.
Why feature-benefit selling will increase your sales?
Feature-benefit selling techniques highlight the advantageous results of a product's specific features. With these features and benefits in mind, customers may conceptualize a certain product as superior to others in the market. This conceptualization can lead to an increased potential for brand loyalty.
What are features advantages benefits?
FAB stands for Features, Advantages, and Benefits. A FAB Statement is explaining the feature, what it does (the advantage), and how that benefits the prospective client. Features are one of the easier things to identify. These are facts or characteristics about your business, products, and services.
How to implement feature benefit selling?
In order to implement feature-benefit selling as a part of your sales strategy, you must be able to understand the features that make a product or service unique.
Why do companies design products with features that offer specific benefits?
This is because benefits play a powerful role in driving customers to make purchases, use a product with fidelity and develop brand loyalty over time.
What is the benefit of a product?
Benefits are the consequences or outcomes that customers experience by using a product or service. In most cases, a product or service's benefits present a solution to meet a customer's needs and are an influential factor in a customer's reasoning for making a purchase. For example, a new pair of glasses that feature a screen with impact-resistant ...
What is a feature benefit matrix?
You may be able to create a feature-benefit matrix—a chart that directly correlates benefits with features—to use throughout your sales process. While identifying benefits, it's important to remember that some features can present multiple benefits simultaneously.
When will feature benefit selling be available in 2021?
July 8, 2021. Sales professionals regularly formulate new approaches to attract customers and encourage them to make purchasing decisions. The process of feature-benefit selling offers professionals the opportunity to make valuable connections to customers throughout the sales cycle. If you're seeking methods to help customers better understand ...
Why is it important for customers to make their own connections about a product?
When customers can make their own connections about a product's features and benefits, they can more easily understand the goals of a product. This can be especially useful in situations where a product's features present benefits that a customer may not have otherwise considered as desirable.
What is feature in business?
Features are representations of a particular product or service. They are an extension of what a person can do with a specific product or service. It aims to describe how their spectrum of liberties and opportunities can broaden after this acquisition. Benefits show the end results of the above-mentioned liberties.
What is benefit in marketing?
Benefit — you’ll have a unique piece that nobody else owns. This taps into a person’s self-image and self-esteem. A feature needs to be connected to the benefits of a product through an emotional connection. This makes the customer create a cognitive connection between the product and the improved quality of life.
When presenting products and/or services, it’s essential to go beyond just presenting the features that it has
When presenting products and/or services, it’s essential to go beyond just presenting the features that it has, you need to focus on the benefits that a person will enjoy after making this purchase. Implementing some storytelling will only increase the probabil ity of closing a deal . We hope you found this article helpful. Good luck!
Why is storytelling important in selling?
By incorporating this technique in your feature-benefit selling, you’ll be able to increase your sales and revenue significantly.
What Is Feature-Benefit Selling?
Feature-benefit selling requires sales reps to bridge a connection between two things:
The Key Components of Feature-Benefit Selling
The first part of feature-benefit selling is, not surprisingly, outlining the features and benefits of your product.
Examples of Feature-Benefit Selling
Feature-benefit selling is a fantastic sales strategy because it’s highly effective across a huge variety of industries and products. Let’s take a look at a few real-world examples of this methodology in action.
How Feature-Benefit Selling Will Increase Your Sales
Feature-benefit selling is a straightforward and effective way to increase your sales. It’s often the push that customers need to pull the trigger on your product.
How to Implement a Feature-Benefit Sales Strategy
If your team is ready to implement a feature-benefit strategy, start here. The following steps will have your team well on their way to using this methodology in real-world sales conversations.
What is feature and benefits selling?
Feature and benefits selling is a sales strategy that’s meant to show the value in your product. Features and benefits selling is a strategy long employed by salespeople. Now, you can add the SPIN selling strategy to features and benefits selling.
What are some examples of advantages?
Examples are: “This feature means our machine costs less to operate,” or “It saves time.”. Research indicates that advantages: Contribute positively to small sales. Contribute somewhat positively to large sales.
Why are advantages more positive?
Advantages have a greater positive impact on small sales than large ones because they address implied needs rather than explicit needs, which you have to develop in a large sale to justify the high price. Offering solutions to implied needs isn’t enough in larger sales.
What is a type B benefit?
A type-B benefit, which demonstrates how a product/service meets an explicit need of the customer. Researchers found that when it came to features benefits selling: In smaller sales, using the type-A benefit contributed strongly to success; in large sales, it contributed only a little to success.
How do sellers demonstrate value?
There are three ways a seller can demonstrate value: by describing features, advantages, or benefits. Here’s how they compare: Advantages show, in general, how a solution functions or can help the customer. Examples are: “This feature means our machine costs less to operate,” or “It saves time.”.
Do facts play out differently in small and large sales?
Facts play out a bit differently in small and large sales— research has shown facts may help slightly in small sales, but their impact is neutral in larger sales. This plays out in features benefits selling. Specifically:
Is the way reps are trained to use benefits ineffective in larger sales?
But research indicates that: The way reps are trained to use benefits is ineffective in larger sales. The traditional approach is likely to get a negative response. Defining a benefit is more complicated than it seems.
Why can't you use a single set of benefits?
That’s why you can’t use a single set of benefits in order to appeal to your entire target audience. While it’s crucial to create your ideal customer profile and buyer personas, these models aren’t enough if you want to connect with your prospects on a deeper and more meaningful level.
What does it mean to make prospects feel better after buying?
Make prospects feel that their life will improve after they make a purchase. Besides these emotionally-based benefits, there are the ones that are much more practical in nature, such as that your product: Has some time-saving features, meaning that they will have more time to invest in high-value tasks.
What does "feature" mean in business?
Which means that you turn a Feature in to an Advantage. “We are a big company (Feature), which means that we have the resources to help solve your problem” (Advantage). Remember, an Advantage is still only our best guess at what a customer might be looking for.
What is an advantage?
An Advantage is something we think might be a Benefit to a customer. The trouble is that most salespeople who don’t know the difference are much happier talking Features AT customers rather than finding out Benefits FROM customers.
What is the difference between features and benefits?
In order to create an effective marketing strategy, marketing teams need to know the difference between features vs. benefits. Though they tend to get confused, the main difference between these two marketing terms is that benefits explain how features can serve consumers.
What is a feature in marketing?
A feature is a factual statement about something included in your product or service. It may also be something that your product can do. Features add substance to your marketing efforts and are useful for people who are looking for a specific product or service. Features tend to help people who care more about the technical aspects ...
Why are benefits important?
They provide reasons why a feature helps create positive experiences. It's important for a marketing team to include benefits in their messaging to lead consumers to the right conclusion about your offerings.
Why is it important to include both the features and benefits of a product?
This way, consumers know what is included in a product or service while also learning how it can add value to their lives. Marketers need to find a healthy balance between features and benefits to capture more people's interest in ...
What is a benefit?
A benefit is how a product or service can improve or add value to a consumer's life. They are what a product or service can accomplish for the consumer, which tends to be more of a selling point. Benefits answer the question, "What will this product or service do for me?".
Features vs Benefits
- Features
To simplify the concept of features vs benefits, we can think of features in relatively plain and commonsense terms: features are attributes of a product or service that do not identify any general benefits for the customer. For example, product features are the technical details of a pr…
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Pros and Cons of Different Marketing Strategies
- Target Consumers
Feature/Benefit/Value selling differs from Feature/Benefit selling since it allows the salesperson to sell effectively to more senior executives in upper-level management, especially through its focus on the WIIFM of the target market. In contrast, FB selling utilizes product descriptions an… - Strategies of FB Selling and FBV Selling
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What Is Feature-Benefit Selling?
The Key Components of Feature-Benefit Selling
- The first part of feature-benefit selling is, not surprisingly, outlining the features and benefits of your product. Put simply, a feature is what something is(or, in most cases, a component of what the product is). Features describe a product’s functionality. They may also represent points of differentiation from your competitors. A benefit is what those features do for the customer— no…
Examples of Feature-Benefit Selling
- Feature-benefit selling is a fantastic sales strategy because it’s highly effective across a huge variety of industries and products. Let’s take a look at a few real-world examples of this methodology in action.
How Feature-Benefit Selling Will Increase Your Sales
- Feature-benefit selling is a straightforward and effective way to increase your sales. It’s often the push that customers need to pull the trigger on your product. The truth is, people make purchases based on a combination of logic and emotion. Many salespeople err on the side of being too factual, wanting to get as much information about the features of their product into the hands o…
How to Implement A Feature-Benefit Sales Strategy
- If your team is ready to implement a feature-benefit strategy, start here. The following steps will have your team well on their way to using this methodology in real-world sales conversations.