When marketing a product or service, it is important to clearly communicate the benefits that it offers to potential customers. However, it is also important to highlight the features that set your product or service apart from competitors. Here’s the differences between features and benefits and how to effectively communicate them to potential customers.
FEATURES IS WHAT IT IS
Features are the specific characteristics or components of a product or service. They describe what the product or service does, how it works, and what it is made of. For example, a car’s features might include its make and model, engine size, and fuel efficiency.
BENEFITS SOLVE CONSUMERS’ PROBLEMS
Benefits, on the other hand, are the positive outcomes that a customer will experience because of using the product or service. They describe how the product or service will improve the customer’s life or solve a specific problem. For example, a car’s benefits might include the convenience of having transportation, the ability to save money on gas, or the safety features that protect the driver and passengers.
WHY DOES IT MATTER?
It is important to communicate both the features and benefits of a product or service to potential customers. Features can help to differentiate your product or service from competitors and can provide technical information that is important to some customers. However, benefits are often more compelling to potential customers, as they demonstrate how the product or service will improve their lives or solve a specific problem.
THE FEATURES AND BENEFITS MATRIX
One effective way to communicate the features and benefits of a product or service is to use the “features and benefits matrix.” This is a table that lists the features of a product or service in one column and the corresponding benefits in the other column. This allows potential customers to easily see the specific benefits that each feature provides.
For example, a marketing blog for a car might include a features and benefits matrix that looks like this:
Improved fuel efficiency
Easy to drive, no need to shift gears
Blind spot monitoring
Improved safety and visibility
By clearly communicating the features and benefits of a product or service, businesses can effectively market their offerings to potential customers and convince them to make a purchase.
It is important for businesses to communicate both the features and benefits of their products or services to potential customers. The features and benefits matrix is a useful tool for organizing and presenting this information in a clear and concise way. By clearly communicating the benefits that a product or service offers, businesses can effectively market their offerings and convince potential customers to make a purchase.