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Customers care about what your product does for them
Many firms make the mistake of thinking that their customers care about their products. They market their products as being ‘The next best accounting program’ or ‘Our greatest range of financial planning products yet.’ While the firms in question may be very proud of what they have to offer, when it comes down to it, the customers don’t feel the same way. The customer cares about the benefits to them.
The bottom line:
We know that our customers care more about what our product does for them than the product itself. We know that they’re not interested in shiny new packaging, or how much effort we’ve put into giving them the best deal. Customers simply want to know what they will get out of it.
The difference between “Features” and “Benefits”
Understanding the difference between product “Features” and “Benefits” can work better than any persuasive financial services marketing technique that you may use. Put simply; customers want to know that they have financial freedom when they choose different types of investment. They don’t care so much about filling in Form-X, even if it is a new type of form that is straightforward, and easy to fill in. You may wish to advertise that you have this exciting new form, but the customer will only care that using it means they don’t have to deal with very much paperwork.
Rather than talking about the features of your products, mention what the benefits are, as this is what you need to concentrate on. For example, compliance products should comply with specific laws, which relate to needs of the user. However, clients won’t care that you can offer packages to every single industry, they will simply care that being compliant means they stay on the right side of the law. This is a benefit that you need to sell, rather than mentioning who you cater to.
What would you like?
Persuasive financial services marketing can work really well if you know who to target, and how. Consider what you would like from a package or product, and use these considerations in your marketing campaign:
Would you like the package to give you peace of mind?
Does the package come with free financial advice?
Can you save money?
Will the services offer you more freedom?
Can you rest easy knowing your investment is in safe hands?
Take those considerations, and apply them to your campaigns, ensuring that you offer your potential customers what they are looking for.
Just a reminder….
Nobody wants to know that you’re the second best supplier of risk management strategies in Australia, or whether you only use the greatest software known to humanity, they want to know what it does for them. What are the benefits?
Customers care about what your product does for them, remember this each time you reach out to someone new. Alter your marketing campaigns, and make the benefits very clear to everyone. If potential customers can see what the benefits are, they’re much more likely to sign up, than they are to a campaign that sings about how wonderful their software is.
Customers care about what your product does for them; it really is that simple.