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     June 2008

 

Your Marketing Plan:
Understanding Features and Benefits
 
Last month we focused on the first step of a seven-step marketing plan-establishing the goal of your marketing.  Hopefully you took the time to follow the formula in the May newsletter for determining your revenue goal and the number of customers/clients it will take you to reach that goal.  It's well worth the effort to know what your target is--even if it seems a long way off right now.
 
The second step of your marketing plan is to define what main benefits your customers will receive from using your product or service. This leads us to a discussion of the difference between features and benefits--one of the most misunderstood, but important, concepts in marketing.  Here goes!

Features vs. Benefits

carsSuppose you were going to buy a new hybrid car.  You go to the dealership, and immediately a salesperson approaches you. He sees you looking intently at that little red number in the second row of the lot, and he surmises he's going to make a sale. 

After he's given you some specs about the gas mileage, he begins to tell you about the rest of the car.  It's got nice stain-resistant cloth seats (probably made out of a renewable wood fiber), a camera that shows you what's behind the car when you're backing up, four-way adjustable seats, decent trunk space for a small car and a cup holder that will fit all sizes of cups. Satellite radio is included for the first year.

Mr. Salesperson has just told you all about the features of the car.  But while he's been chattering away, you've been asking yourself "Why should I buy this car and why should I buy it from this person?" You want to know the benefits.

What's in it for Me?
 
So now that we know what features the car has, let's focus on its benefits for you. What you really want to know is the question on anyone's mind when they are considering the purchase of any product or service, "What's in it for me?" You want to know the benefits.

If Mr. Salesperson had put himself in your place, he would have figured out that if you buy this car, you will:
  • Save lots of money on gas
  • Not have to worry if you spill a drink or your pet throws up on the upholstery.
  • Be able to pack for a weekend trip and have enough space left over to bring back the items you bought while you were away.
  • Not have to worry that you will hit someone or something when backing your car out of the driveway (a great benefit-I ran over my son Brad's soccer ball once; it exploded and I thought I had been the victim of a mob hit).
  • Experience less stress and strain on your body as you drive because you can adjust the seat until it's just right for you.
  • Choose from 500 stations of music, news and information.
  • Feel good about yourself because you are doing your part for the environment by buying this particular car.
  • Save time when you have the car serviced because this particular dealership is only two miles from your house.

car keysThese are the benefits of buying this car. Benefits are much more important to you, the buyer, than the features of any given product or service. They answer the unspoken question, "What's in it for me?"

Sell the Benefits of your Service or Product

This marketing axiom is as true for your own clients and customers as it is for a car salesperson. Put yourself in your customer's position and ask yourself why they would use your service or buy your product. Try making two lists--the features of your product/service and its benefits.

The differences between features and benefits may seem subtle, but they are very important. Focusing on benefits as well as features in your marketing materials is critical to effective promotion. If you can clearly articulate the benefits of your product or service, you'll have completed the second step of your marketing plan--and you'll be ready to start writing that marketing copy for your brochures, your website or your next event!

Coming Next Month: Ways to get your Message Out
 
We've already covered steps three and four of the marketing plan in previous newsletters.  Determining your distinctive competence (what makes you stand out in a crowded field) and defining your target market are those critical steps.  Next month we'll discuss the myriad of ways to get your message out.    
 
Much success to you,
 
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Need some Personal Help/Inspiration?
 
In addition to my marketing services, I offer coaching for individuals who are interested in starting/building their businesses or who would like to explore new ways to rediscover their natural creativity. For more information, please call 760 436-8848.   
 
About Excoveries
 
Judy Balian and her Excoveries team offer practical, cost-conscious marketing solutions for small businesses, consultants, holistic practitioners and inventors.
 
Our services include confidence-building business coaching, marketing strategy, copywriting, brochures, business cards, press releases, articles, websites, newsletters and logo design.
 
Judy also teaches classes and workshops designed to promote creativity and personal growth including The Artist's Way.

To contact Judy, email
jbalian@excoveries.com or call 760.436.8848.