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What's In It for Me? by Stacy Karacostas

It’s no secret that today’s consumers are counting every penny and thinking hard before making every purchase. This makes it much more difficult for small business owners to convince people to buy just about anything.

Mediocre marketing simply isn’t going to cut it anymore. It’s not enough to just say, “We sell X,” or “We do Y.” You have to give prospects a darn good reason (or three or six) to buy and buy from you. Otherwise they probably won’t.

The only way to do this is to put yourself in your customer’s shoes and ask yourself, “Why would they want what I’m selling?”

Maybe it’s because a good friend has one. Or because they’ve always dreamed of owning, experiencing or doing X. Or they need to fix or improve something.

No matter what the reason might be on the surface, the real reason people buy is to fill a want, fulfill a need, or solve a problem. There has to be some sort of benefit involved or they’re not going to spend their hard-earned cash.

Professional marketers refer to this as the “What’s in it for me?,” or WIIFM factor.
Unfortunately, especially when you’re selling your own products or services, it’s easy to fall into the trap of talking only about features while assuming people understand the benefits. Do that and you’re missing the boat — and the sale.

Here’s a good example: A while back I was shopping for a new vacuum. These days, vacuums come in a mind-bogglingly wide array of sizes, shapes and styles, and quite honestly I didn’t know a thing about them.

So I went into the local vacuum store where I was promptly cornered by an overeager salesman who started going on about features. He talked about amps and filters and bagless models (how do you empty those things anyway?) until I began to glaze over. Eventually I left empty-handed. Then I went to another store where I found just what I was looking for in less than ten minutes.

What made the difference? In the second store, every time the salesman showed me a feature, he also explained exactly how that feature might benefit me.

The first vacuum he showed me had a long hose attachment (feature) to make it easier to vacuum your stairs (benefit). Only I don’t have stairs, so that benefit didn’t grab me.
The next vacuum he showed me had especially powerful suction (feature) and a rotating brush (feature) designed to pull pet hair out of even the thickest carpets quickly and easily (benefit). I have a dog, so this was a benefit I could buy into and even justify paying more for. After all, with this vacuum my house would be cleaner, smell better and I would spend less time cleaning. Benefits galore from one little feature. I had a problem (pet hair) and this vacuum solved it for me.

How could I resist? It was WIIFM in action

In a nutshell, features are the specific details of your product or service. Think of them as the Who, What, Where, When, How, How much, etc. Benefits are the Why.
Use this simple exercise to help you uncover the benefits of anything you sell…

Step #1: Choose one of your products or services and make a list of all of its features down the left side of a page.

Step #2: For each feature ask yourself, “So what? Why would anyone care or want that?” Write your answers down the center of the page.

Step #3: Go through your new list of benefits one by one and ask again, “So what?” to see if there’s an even deeper benefit buried in there.

Step #4: Read through your marketing materials, and anywhere you mention a feature, besure to include its benefits.

Still confused? Here are a couple of examples to get you started.

EXAMPLE #1
Feature
This vacuum has 12 volts of power (So what?)
Benefit
It is so powerful it can suck pet hair out of Velcro (So what?)
Benefit
Your house will be cleaner and smell better with less effort.
This vacuum has 12 volts of power (feature) creating such powerful suction it can pull pet hair out of Velcro (benefit) leaving your house clean, fresh smelling and free of allergens (benefits).

EXAMPLE #2
Feature
Our personal trainers come to your home or office (So what?)
Benefit
This saves you time and reduces hassles (So what?)
Benefit
You’ll never miss a workout again.
Never let life, or traffic, keep you from working out again (benefit). Because we know how hectic your schedule is, our personal trainers come to your home or office (feature) so it’s easy for you to stay on track and reach your fitness goals (benefit).

Keep in mind, however, that you can’t just sell any old benefits. You have to promote the benefits your target market wants and needs. This means you must know exactly who you’re selling to, and understand their particular pains or problems.

Then, once you’ve got your ideal target market dialed, don’t focus on what you do — focus on what you can do for them. Deliver on those promises and before you know it you’ll have all the clients and customers you can handle.

Practical marketing expert Stacy Karacostas specializes in taking the stress, struggle and confusion out of growing your small business. Learn more at www.success-stream.com, or grab 110 of her best marketing tips FREE at www.freesmallbusinessmarketingtips.com.

©2009 Caliope Publishing Company