Core Fundamentals for Revenue Growth! The principles of Needs, Features & Benefits

As a senior executive or manager responsible for the revenue growth of your company, do you find yourself asking the following questions;

1.    Why isn’t our pipeline more robust?

2.    Why are we closing a low percentage of our forecast?

3.    Why is the overall performance of my team not at a productive level?

Too often times I have found the sales skills of many so-called sales professionals to be quite wanting. Wanting in the area of specific skill sets that would allow them to be successful. The skill that I will be the focus of this GMG Exec Brief is applying the principle of Needs, Features and Benefits.

Recently, I encountered a transactional salesperson who represents a software company whose suite of products requires a truly consultative sales process. The sales person started off the meeting with a circus barker sales pitch. His presentation covered all of the points of his company’s product. After 30 minutes of this grandiose impassioned pitch, the salesperson finished up and asked me what I thought about his product. I thanked the salesperson for his time and bid him a good day. The salesperson shook his head and asked me, did you not find my product appropriate for what you need? I chuckled and replied, “For what I need? You never asked me one question about my needs. How can you present and recommend a product to me without understanding my needs?”

This scene is played out every day in conference and meeting rooms around the globe. Many salespeople leave the meeting wondering why their prospect has not moved forward and when they get back to the office the tell their managers their great tale of salesmanship. Their manager scratches his/her head in disbelief and then looks at their pipeline and forecast and adjust it down to reflect a sales opportunity lost.

I have found this to be true in all types and sizes of businesses. I have worked in the smallest of businesses (my parent’s grocery store) and very large businesses (Elsevier $3+ billion). A majority of people in business do not understand the art of the sale. Have you experienced a sales person who wants to sell you something that you don’t need? Or the salesperson who talks incessantly without asking you about your needs? How about the salesperson who shows you the 31 flavors of their product line hoping you will yell out, “Ok I will take that one!”

The primary failing of a lot of salespeople is that they do not employ the fundamental principles of the Need, Feature, Benefit. In order to understand the Need(s) of your customer, it will require you to ask them several specific questions. Their responses will provide you with a clear roadmap to their specific need(s). 

With this firm understanding of their needs, you will be able to determine if your product, good, service, etc., is a match for them. The second step of the process is to outline the features of your product, good service that addresses the specific needs of your customer. During this process, it is important for you to confirm with them that the features of your product are addressing their needs.

The 3rd step of the process is the presenting of the benefits of your product to the customer. Now that you have acknowledged their needs and presented how the features of your product address their needs it is then essential to highlight the benefits to them. Having them to acknowledge these benefits will position the salesperson for a greater chance of a successful close.  

Incorporating the principles of Needs, Features and Benefits in your sales presentation to your customers will ensure that you are meeting their needs and will allow you to develop a deep and long-lasting relationship. Also, it will help you when you are on the other side of the fence as a customer to ensure that your needs are being met.

If you would like to learn more about the consultative sales process, email me ([email protected]) or call me at +1.973.454.3475. Selling is fun when you are helping someone to fill a specific need