Customers tune in when they hear what’s in it for them
I'M SURE DJs and radio stations across Australia would be horrified to hear that there is one station above all that people listen to.
It is WIIFM - what's in it for me; selfish, perhaps, but true.
Your customers are tuned into this station as soon as they pick up the phone, walk into your business, or have you in their home. And if you're not playing their favourite tunes, then they aren't listening.
Many businesses know what they do, perhaps how they do it, but often they either don't know or fail to explain how the product or service they offer makes a difference in the life of their customer.
Regardless of the impact, this is a key decider for your customers, clients or patients.
I'm sure we've all heard of features and benefits, but what we need to understand is how to wrap the benefit to the individual who is standing in front of you. I see so often an excited sales person rattling off all the features this wiz bang product has then stand back, big smile, probably thinking they've just pitched the best sales presentation in the history of the company, expecting the customer to say "WOW ... I'll take two of those!" - doesn't happen, right? Let's look at an example.
So in my case, it's no secret that up until recently I didn't own a hammer, yes, I'm no handy man
So if done correctly, the person selling me the hammer would know this by basic conversation and make the correct assumption that I would bend a lot of nails.
I, on the other hand, see pricing from $10 to $60 - so naturally would only chose by price, $10 and away I go.
The good sales person would inform me the $10 hammer, after just a few nail pulls, the claws would be virtually useless and I'd have wasted my money. He or she would suggest perhaps a mid range $20-$25 hammer so I could pull as many nails as I needed and not waste my money (plus I'm sure they would be other benefits specific to me and my situation).
Is the business owner happy - yes. That's a whopping 100-150% increase to the average sale.
Am I happy?
Absolutely because the salesperson was playing my tune on WIIFM.
This week, why don't you gather the team, identify just four to five benefits and what they mean to your customers for your top selling products or services.
As an exercise, why not also use it on the slow movers and turn that into cash?
I'd love to hear your results; email to yale@betterbusiness group.com.au.