Thursday, July 2, 2015

Using The FAB Approach in Sales

All products and services have three characteristics to them: Features, Advantages and Benefits (FAB).

While Features tell us about the physical attributes of the product, Advantages spell out the direct use of the feature and Benefits identify what the product can do for the customer. it is the benefits which finally matter to the client

Features merely define the product. They do not solve the customers problem / need.It is then up to the customer to decide how the feature will benefit them.

To make Features more productive, we add Advantages to them. Advantages show how the Feature will work for the client or what it will do for him/her. However, Advantages are general, and not client based: they do not explain how the product will solve the client's specific problem. At times, they may focus on certain features which the customer does not care about, thus reducing the VFM (Value for Money) factor for the client.

Benefits are ultimately the final attribute which help to sell the product. Benefits help to identify the Features and Advantages which relate to the customers needs. At a call with the client, the sales person is required to understand the needs of the customer. This is a crucial time when we need to show interest, concern and empathy. Correct questions need to be asked to show the customer we care and would like to clarify details. This is what will guide us as to which Features and Advantages to present to the client so as to create Benefits.

Once the client explains the underlying needs, they expect a solution from us.
Remember, with all client interactions that takes place, the customer has her/his WIFM (Whats in It For Me) in mind...
No sales call is fruitful until the customer is satisfied that (s)he has received something out of the interaction or the time invested. It could be a possible solution to the customer needs, some statistics you may share, some market intelligence, your rich experience or a physical gift (i.e. if the organization allows them)

Benefits are derived from the Customers and are Motivators for a customer to buy the product. They define what the customer will achieve by purchasing the product. Some benefits which matter are self esteem, time saving, cost reduction and increase in productivity.(Feature Dumping Doesn't Work Do This Instead, David Jacoby, salesreadinggroup.com)

At a training program with some sales people, we came up with an example: Suppose I buy a Jewellery set for my wife, what would be the FAB attributes. The answers we received for the benefits ranged from self esteem to extraordinarily good food and the fact that there would be no big demands for the next six months!!

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