“Features are sold at cost. Benefits are sold at a profit.”
With the economy in its current state, people are trying to find the best deal more than ever. Each week, I hear new stories from salespeople lamenting the pricing horror issues they’re regularly facing. It’s for this simple reason that it’s critical to make sure you’re selling benefits and not features. If people don’t see a benefit in something, they won’t pay much for it.
Here’s an example from my own life. I love Starbuck’s and I’ll pay for it. However, if I have to settle for a cup of garbage, I won’t pay much for it. In fact, the coffee may even be the same java, but my level of confidence is much higher knowing it’s from Starbuck’s. Get the drift? The benefit I’m buying is my taste perception and confidence, not the java itself.
Sell the benefits by finding out what the customer is looking for. Take the time to ask questions and listen.