DOAC: Steven Bartlett's Interview with Josh Kaufman - Author of The Personal MBA Book
Curated from: The Diary Of A CEO with Steven Bartlett
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Convey Product Benefits instead of Product Features
- In marketing and sales, it is crucial to focus on the benefits that appeal to customers' core human drives rather than the features of a product.
- Features are facts or attributes of a product (e.g., This candle is made from 100% soy wax).
- Benefits are the positive outcomes or results that customers experience from using the product (e.g., This candle creates a clean, eco-friendly ambiance in your home).
- Customers are primarily motivated by benefits, as they address core human desires and needs.
- Many entrepreneurs confuse the two or outline only the features in their product pitch.
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A famous example of features vs. benefits is that of Steve Jobs when he launched the iPod. Instead of stating that it has “5GB storage”, he described the iPod as “a device to carry 1,000 songs in your pocket”
STEVE JOBS
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Buyer Psychology: Simulating the Future Value of a Purchase
- Before making a purchase, individuals imagine what their life is going to look like if they go ahead with their purchase.
- For example, if you are looking to buy a car, you may visualize driving it daily, impressing neighbours, etc. If you are signing up for a gym membership, you will visualize how the you will get more fit in few week's time.
- Marketers utilize storytelling in to engage the brain, helping customers create positive future scenarios that excite and motivate them.
- Or even better, by encouraging customers to experience the product firsthand (e.g. car test drive or trial week at gym).
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IDEAS CURATED BY
CURATOR'S NOTE
Two marketing lessons from Josh Kaufman, the author of The Personal MBA: Master the Art of Business.
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