I had the privilege of speaking to a group of retail business owners last month. We discussed a variety of different topics and I explained how it could help them make their businesses more profitable. One of the more interesting points of the evening was very well received and I felt it was worth sharing.
It’s something that you’ll benefit from, even if you’re not a retailer. So I’ve decided to email you the basic details and hope you’ll make use of it in both life and business.
I began my talk by asking the audience this simple question: “We all know what selling is. But do you know the difference between selling features and selling benefits?”
There were a few good answers called out by the attendees, but none were entirely accurate. So here is what I told them.
People, by nature, are always asking themselves: “What’s in it for me?” Whether it’s a potential customer, a boss, a child, or a friend you are interacting with – they’ve often got their own interests in mind. No matter what you’re trying to get them to agree to, they may resist your advances. So you’ve got to make a little sales pitch of sorts. You can choose to sell them on the features or you can choose to sell them on the benefits.
Here’s the critical difference.
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