Impact Pricing Podcast

Memecast #55: Experts Buy Features

It really is fascinating that experts can translate our features into our benefits. And oftentimes as salespeople, as pricing people, as product managers or product marketers, we are experts in our own products. We think about a feature and we can automatically understand what those benefits are that our customers are going to achieve.

But do our customers understand those benefits? And if they’re experts then sure they do, but aren’t we all trying to win new business? Aren’t we all trying to find customers who are just getting into the product category, who are choosing between our products and our competitor’s products?

In these cases, our customers might know what the features are but they don’t truly understand the benefits they should expect to receive.

“If we truly want them (potential buyers) to get the value of our products, we have to do the translation.”

– Mark Stiving

Imagine you’ve never, ever used a computer before and some salesperson tells you, yeah, this one has a terabyte static DRAM. You’re thinking, okay, who cares? They have to be able to translate it into benefits.

And so often when we speak to our potential buyers, we’re speaking to them in the things that we think are so meaningful, our features, but they can’t translate that into their benefits. If we truly want them to get the value of our products, we have to do the translation.

We hope you enjoyed this memecast. This impactful insight came from my book, Selling Value, which was written to help salespeople win more deals at higher prices. If you have any questions or feedback, please email me [email protected].

Now go make an impact.

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Tags: Accelerate Your Subscription Business, ask a pricing expert, pricing metrics, pricing strategy

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