I wrote some time back about sales closing methodologies – things like presumptive closes, trial closes, ABC (Always Be Closing) – as “Old School” training on how to advance the sale or uncover objections not yet revealed.
In a similar vein is another three letter acronym – FAB (Feature-Advantage-Benefit)- which is an important concept in developing your value proposition.
Product Features do not have any value to your customer unless they are linked to a Benefit that your customer recognizes. If your customer doesn’t see value or recognize a benefit for them in a particular feature – then you cannot successfully use it to differentiate yourself from your competition.
The Benefit comes first, and from your customers perspective, is the only thing that matters.
You Differentiate, or create an Advantage, when that benefit is something that your competitor does not have, or cannot clearly define, demonstrate or articulate. Again, from your customers perspective only, not yours.
The Feature is what the product or service is. The Benefit is whatever your Customer says it is. An Advantage only exists when more – either in number or perceived value – benefits are associated with your service or product than with your competitors.
I guess B.A.F just didn’t have that same allure.
Remember to build your “blocks” in a way that favors your Customer.