In Part One we looked at the difference between an Elevator “Pitch” (yucko; bad word) and a Benefit Statement. Mainly, the first one is longer and “I-Focused” and the latter is shorter and “Other-Focused.” It focuses on the benefit…to the other person.
The article’s main point was that, contrary to mainstream and accepted thinking, this Benefit Statement should not be communicated immediately upon meeting someone. Utilized too early, it will most likely turn the other person off or, at best simply position you as one of every other person focused only on yourself and your product or service. Instead, wait until the person is truly interested in knowing.
Also, an excellent point brought up by my great friend, Dondi Scumaci is that even the idea that one must be ready to fire off their commercial immediately upon meeting someone puts a huge amount of pressure upon themselves. Instead, when we take the focus off ourselves and focus on the other person, we are more relaxed and at ease, and establishing that relationship becomes a much more natural and value-based process.
As correctly taught in “Sales 101”, the difference between a feature and a benefit is significant. Namely that people don’t buy features (what something is); they buy benefits (what it can do for them). So craft your Benefit Statement in such a way that the person with whom you’re speaking immediately grasps the benefits of what your product or service will do for them or, perhaps for someone they know.
Prospecting expert, Rick Hill, calls this “The Raised Eyebrow Test.” Is your Benefit Statement going to cause them to raise their eyebrows in fascination and want to know more? Or, as Rick asks, “Will they simply yawn?” That second option wouldn’t be a good thing. 😉
Let’s look at just a few sample Benefit Statements. Note how they focus on the benefits; not the features, and they are brief):
Financial Advisor: I help people create and manage wealth.
Insurance: I help people protect their families and plan for a prosperous financial future.
Skin-care products: We build health and confidence through anti-aging technology.
Realtor®: I help people successfully sell their home, and own their dream home.
Supplemental Health Insurance: We help companies protect their employees from financial disaster, but with absolutely no cost to the employer.
Long-Term Care Insurance: We help people protect their hard-earned assets from one of life’s greatest financial catastrophes.
Chiropractor: I help people heal themselves naturally, without medication.
Litigating Attorney: Our firm helps people resolve disputes and avoid costly consequences.
Rick Hills say a good litmus test of your Benefit Statement’s effectiveness is when your prospect responds by asking, “Oh, how do you do that?”
Remember, every single year millions of 1/4 inch drill bits are sold, yet no one actually wants a 1/4 inch drill bit. What they want is … a 1/4 inch hole.
People buy benefits, not features. Yet, these benefits must be communicated gently and non-threateningly, and at the proper time and place in order to be effective.
In Part Three, we’ll run through one particular example, based on a question from a very successful business person.