Who is your Target Market and Are you Selling Features or Benefits

Posted in: Marketing

 

One area a lot of companies miss when they try to position a product in the marketplace is that customers are buying benefits while the manufacturer is selling features. Features only really come into effect when the benefits are the same across the board and you need something to point at and say “this is why we are better.” Benefits are what the end product produces for the customer. If your benefits outweigh the rest of the competition, you probably just made a sale, no matter how many additional features your competitors have over you. Let’s talk cordless drills. A professional carpenter may be looking at aspects such as durability, battery life, recharge time and warranty- these are features. However, when you start talking about your product, as benefits, to a customer it becomes personal. Start solving their problems for them and they will buy your product. Telling the carpenter how the drill has less downtime and gets them off the job site quicker solves a problem while telling them there is a 3 hour quick charge does not. When defining your target market, it is equally, if not more important, to find out why they need a product. Begin selling your customers solutions to their problems.