Let us ask you a question…
What goes on in your mind when you decide to buy a product? Do you check its features or its benefits?
The answer is, most of us are confused between both. Let us understand what they mean.
Features are the characteristics of a product/service, whereas benefits are the outcomes of the features. So, what should businesses focus on while promoting their products?
We have an answer for you.
Many companies and businesses majorly focus on features while promoting their products/services, but companies are missing a thin line between features and benefits.
Focusing on features communicates what your products are offering but focusing on benefits can directly communicate how your product is going to meet the customers’ need and what end result/outcome a customer is getting through your product.
Benefits give answers to the customer’s question – Why should I care about what you have? For example, all the other mobile brands are busy explaining their features like having a 64 mp megapixel camera, having a night vision feature, portrait feature, etc. But Apple always communicates the outcome of its features; they explain/advertise the result of it – how the image is going to be after using the feature.
Let’s see what businesses get if they concentrate on benefits over features:
1. Target market can be expanded:
Most of the time customers make complicated purchase decisions. They make decisions without knowing the complete features and benefits of the product. Focusing on benefits will expand your market and your product can reach the people who are particularly looking for that benefit. Now ‘Tesla’ has entered India and it will have a very good market as people are looking for Automation and Innovation.
2. Product differentiation from the competitors:
By focusing on benefits, companies can stand different from their competitors. Companies can create their unique identification by promoting how they are different from others. For example, Volvo branded itself as the safest car by promoting their benefit ‘safety’ which is what customers are going to get when they buy their car.
3. Makes decision-making process much easier:
It’s going to be much easier for the customer to make decisions when they know the final outcome of the product. That can be possible when companies promote their product benefits. For example, it is easier to select a Maruti Suzuki Baleno when someone is looking for a comfortable hatchback as the brand focused on promoting their benefit ‘comfort’.
4. Premium Price can be charged:
When you show the value of your product and service, customers will compare it with the value they are getting out of that. Apple charges more than any other brand in electronics, as it majorly focuses on the benefits be it mobile phones, laptops, or AirPods.
Conclusion:
Focusing on features will make companies fight with competitors over price which in turn leads them to reduce prices. Thus, it affects the profitability of the companies. Features are equally as important as benefits. Companies should promote their products by starting with benefits and then get to features
Instead of telling what we have, we should convey to customers how our product is going to have an impact and be the solution to their problem. A satisfied and happy customer can get us more business through word of mouth or referrals.
With Digital Marketing practices, companies can target the customer who is interested in the particular component.
At Inmantech DGi, we help you to reach your target customer and help your business grow.
If you want to make more business online, Contact us.