Customers don't want a Hole in the Wall
Donna Weber
I help high-growth companies increase customer retention and grow profits | Keynote Speaker | Tea Snob
There's a famous saying in marketing that people don't want to buy a quarter-inch drill, they want a quarter-inch hole.
I disagree.
Why it Matters
While buyers don’t purchase drills for the high-performance motor, two-speed gearbox, keyless chuck, LED light, or spare lithium battery, they also don’t want a quarter-inch hole. What they want is meaningful value, which includes hanging mementos of a recent family vacation, securing a bookshelf to keep it from collapsing during earthquakes (here in California) or falling on an active toddler.
The value is what people hire the drill to do. Value is what your customers hire your solution for. Just like with the drill, the meaningful value is not necessarily related to your product features and benefits.
Dive deeper
Learn about the job McDonald's milkshakes perform in this video from Clay Christensen.