Yep this is sales/marketing 101 but it is good info anyways! I tried to add a little more substance (the "why" it works part) to the presentation on Feature Advantage Benefit Statements. It might make working with FABs a little easier. I use FABs so often that I find myself naturally speaking this way. They work too! Most people concentrate on the use of FABs as a sales tool, but they work equally well when you are writing content. If you have ever been through a fantastic webinar, then chances are that they used FABs as well - which is another good place to use them especially when you can ad-lib them during the presentation itself. You can find similar tips and information on my blog at http://ledgen30.com/blog/
Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...
What's in it for me?
1. “That’s A Lot Of
Features…
But What’s In It
For Me?”
The Case to Use Feature Advantage
Benefit Statements (FABs)
2. A Little Background
If at one time (like me) you sold photocopiers business-to-business, then
you’ll probably find this information largely a review. For most of us
however, we have never had a sink or swim experience that depended
upon mastering the Feature Advantage Benefit Statement, more
commonly referred to as a FAB.
3. The Problem
Because most of us talk about our products and services
in terms of features and knowledge dumps, we don’t
allow our prospects or customers to develop an
understanding of what the benefits are (we think the
benefits are inherent, when they are not). What this really
means to us is that we miss opportunities to trigger
buying responses and as a result our marketing materials
are less effective, and our sales are not nearly as good
as they could be.
When people speak about bad marketing content, or
content that lacks thought leadership, a lot of that can be
traced to a lack of benefit statements. Good marketing
content always provides the reader with enough benefits
to answer the WIFM question (What’s in it for me?).
Marketing today is dependent on the self publishing of
content, yet so much of this content lacks basic
marketing structures, or stated benefits. Many of us are
doing more harm than good, never realizing that our
content is stagnating our social media accounts, is killing
our traffic, and deters people from talking about our
products and services.
4. Using Features, Advantages and Benefits:
It is our responsibility as the representative of our products and services to make it abundantly clear
as to what is in it for a client or prospect. The most effective way to do this is by utilizing FABs.
Feature, Advantage, Benefit Statements build a mental picture for your prospects as to why your
product or service is the most effective means to meet their needs or alleviate a pain. This is no
small concept that you should be breezing over… People buy products or services less on an
analytic basis – and more on emotion. They tend to rationalize their decisions after the fact. And
FABs certainly do build mental pictures, and this too is critically important to understand, because it
has to do with how our brains process information, and where in our brains buying decisions are
made.
5. FABs and the Brain:
I talked about how brains work in a presentation I built
about mind maps. The presentation provides a fun
exercise that demonstrates our brains at work. But if
you don’t want to go there right now, let me try to
explain quickly… Our brains don’t make decisions on a
linear basis (if they did, then feature dumps about
products and services would work just fine). Instead
our brains retain and form thoughts, and buying
decisions, based on a radial hierarchy of associated
bits of information. Our brains rarely retrieve or store
information via “text” – but through
images, smells, sounds, textures, or taste – makes
sense doesn’t it? (pun intended).
When you deliver benefit statements to a prospect, what you are really doing is triggering a mental image of
the things the prospect will experience (sense) with the use of your product or service. Each benefit
becomes associated with any other number of bits of information. Benefit statements trigger positive
associations, like a larger paycheck or a promotion, while feature statements like the response to “How
much does it cost?” may trigger negative associations like receiving an overdraft notice from the bank, or
having to submit an “out-of-line” expense report. For expediency I am over simplifying things – but if you
don’t believe me the research is out there. Learn for yourself.
6. Triggering the Buying Impulse/Decision
Benefits alleviate pain and although not directly part of your FAB – helping your prospect to identify a pain they are
facing will cause your subsequent FAB to have a more powerful effect. In a face to face meeting this is easy to
achieve, simply ask. With marketing content however, you might have to state it for your prospect. In my case, I
might make a pain statement such as this:
“Are you tired of wasting your marketing budget with an agency that under
delivers and over promises?”
I identified a pain that a certain number of my prospects may be experiencing
(sensing). The prospects that can identify with the pain will likely want to read further.
FABs also help you to differentiate a feature by attaching the benefit (most
people, especially small businesses skip the FAB step altogether… just using FABs
help to differentiate you). When you state the benefit you are demonstrating the gain
of your product or service. In my case, I might follow the pain statement with a FAB
that looks like this:
“LēD GĕN 3.0 believes in a set of guiding principles:
Communication, Education, Prioritization, and Involvement. Using these
principles we will stay in touch, exchange knowledge and skills, adjust our
goals as issues arise, and participate on your project together. This approach
will allow you to achieve your objectives, avoid bad surprises, and be left with
progress rather than a hole in your budget.”
7. Creating Contrast:
What does this have to do with triggering a buying
decision? A lot. It goes back to how our brains work and
where decisions are made. It is believed, and there is
evidence to suggest that buying decisions, especially
impulses, are related to the limbic system. This is
sometimes referred to as the “old brain.” In theory the
old brain is looking for contrast – a result of evolutionary
pressures where we had to find contrast between the
lion and the grass. When we see contrast it causes a
response and in threatening situations this might have
been the fight or flight response; do we run to the
closest tree? or stand our ground with a spear? The
See the lion?
benefit? The response should represent the best chance
at survival.
When it comes to triggering buying responses or impulses we see similarities in how the brain functions, but in
today’s modern world, survival is linked to three “modern” things: productivity, profitability and image. In a
modern world, FABs produce the necessary contrast for our prospects and clients to envision a boost in
productivity, a bigger paycheck, or an increase in status/power. From there our guts take over (either a “gotta
have it” or a “gotta learn more” reaction) – it’s only when you get into the board room, or kiss your wife hello that
you lay out the rationalization for your purchase, or what you want to buy.
8. How to Build a FAB:
Your company’s interaction with customers and the information they provide you will enable you to use
FAB statements to positively influence sales, create a positive company image, generate brand identity,
and provide better differentiation/group identity. If you have heard about “buyer personas” this is part of
what takes place in building a profile… fitting benefits with needs, or solving pains for a like group of
prospects. What you are doing is making the buying process shorter for that group of prospects. Since
80% of the sales process is information and research gathering and as long as you state the benefits
better than someone else, then the more likely it is that you trigger the buying decision and get the sale.
F is for Feature – Answers: What is the feature?
“Because of ______________,”
A is for Advantage – States: What the feature does.
“…you can ______________,”
B is for Benefit – Provides: The answer to the WIFM question.
“…what this really means to you is ______________.”
Because of FABs, you can positively influence your prospects to purchase your
products and services. What this really means to you is ______________ !”
9. Would You Like More?
Michael Years
Market Development Consulting
LēD GĕN 3.0
561-819-8179
http://ledgen30.com
mikeyears@ledgen30.com
Twitter: @mikeyears