Are you leading in Your Marketplace? Are you known as a premier provider of excellent service? Are you as profitable as you would like? Are you consistently growing your business? Is your revenue consistently increasing? Do I have your attention yet? Good!
There’s an old saying out there, “It doesn’t matter what your widget (product/service) can do – until you sell it.” So what this is really saying is nothing happens until you sell something, right? Well, I half agree with this! Why? Eventhough you can sell something till the cows come home (for a short period of time) doesn’t mean that you will be able to continue selling it if it is an inferior offering in the first place!
Now this starts getting a little heated… and this thinking is exactly what keeps businesses from consistently developing new offerings that the Marketplace demands and from growing, generating more revenue, and improving their profitability! For this post, let’s assume that we have a well developed product that is far from inferior, OK?
Often times, business leaders and owners forget to speak the language of their customers. That’s right, their language, not the language of the creator, or the manufacturing team, or even the leadership team. This particular gift falls completely to the expert who can translate how awesome this offering is into a manner that Your Ideal Customer is attracted to and understands. This translator is often named The Marketing Department. This is what they are good at and wise business leaders value this crucial talent. Without it, there wouldn’t be sales to create revenue.
So let’s pretend that we are marketers and our job is to translate why our widget can satisfy all the needs of our Ideal Customers (so they will want to purchase it). This translation process is commonly referred to the Needs-Features-Benefit Process. The “need” is the need Your Ideal Customer has. The “feature” is all the technical stuff that went into building your product/service in the manner you think is satisfactory. The “benefit” is what Your Ideal Customer will gain by purchasing your product/service.
Remembering we over-simplify here! Let’s be pretend car manufacturers applying The 4 Step Needs-Features-Benefits Exercise
- The customer need: need a place to sit while riding in the car.
- The feature/s could be: soft but firm foam, leather or cloth covering, particular width-length-height for the seat and back support, adjustable seat controls, arm rests, lumbar support, etc.
- The basic benefit per the business: Customer would be able to ride in the car more ergonomically correct.
- The basic benefit per the marketer: Customers have options of what their seating look like to reflect their personality and style. Additionally the customer has the opportunity to adjust the seating to accommodate their comfort needs which will allow then travel for longer periods of time in comfort and style.
Yep, it’s that simple folks so let’s get back to the basics! Notice the translation from the business’s statement of benefit to the marketer’s statement? Yeah, I know I could have made it even juicier, but I think you get the gist of it 🙂 The bonus I offer you is taking the time to understand the difference between Step 3 and Step 4. Most business’s stop at Step 3 and think they have a great message… we are now much wiser because we know we need to translate Step 3 to Step 4!
Self Discovery for Powerful Marketing Messages:
1. Make a list of each offering (Product and/or Service) that your business has in Your Marketplace.
2. Write out The 4 Step Needs-Features-Benefit Exercise for each of your offerings.
If you or your business needs rescuing on this particular topic
or any other Business Strategies we have been discussing,
please reach out to Maggie (262) 716.7750 FYI: I’m in the Central Time Zone
Blessings of Success to YOU ~
The Business Rescue Coach, Maggie Mongan
Brilliant Breakthroughs, Inc.