Benefits WIN you deals… Not features.
There is diminishing marginal returns with each added feature. If you have 1 feature that kicks ass and the benefit is huge – Your product is going to win deals with less sales effort. The more features you add; the more sales effort it will take. Sales reps that are good, will take semi-complicated or complicated products and make them appear simple and useful. The way you can take the product you are selling and make it appear more simple and more valuable is to demo and focus on the best features matched up with benefits.
The first step is to learn your product inside and out. Once you know your solution inside and out, it is NOT about puking up every feature in your online sales demonstrations and your conversations. In fact, with the last 2 companies I worked for, I didn’t even know all the features of the product when I landed my first deal. I focused on the features that had the most value and noticed that the benefits supporting those features were the key drivers in getting prospects to pull the trigger.
Part of my inside sales training is to start new hires without knowing all the features, because it forces sales reps to focus on the more important things in their sales demonstrations and conversations.
You have to listen carefully first to your prospects. Steven Covey says “Seek first to Understand”.
When you know what your prospects need, show them the features that will help them. Use the 80/20 rule and focus on the 20% of the features that are going to wow the prospect.
The most important part of your demos and discussion is to support features with key benefits that speak to the customers needs.
1. Ask good questions
2. Identify the features of your product that will help the prospect most – leave out the features that are less relevant.
3. Deliver the core features that solve this prospects problems and back them up with benefits
4. Bonus – ROI – Have stats, numbers, dollar savings / dollars earned to back up your statements.