Winning Marketers Know Something About Benefits Maybe You Don’t…

“CUSTOMERS DERIVE VALUE FROM BENEFITS.”

Today’s marketers share something in common with today’s consumer. What’s the common ground?

They’re overwhelmed.

We’re seeing a rapid development of new product and service benefits, driven largely by technology and industry disruption.

And there are no signs of a slowdown.

That’s why it’s never been more crucial to really step back so you can better understand the benefits the customer will receive from the product or service you offer.

Not All Product Benefits Are Created Equal

Typically, the more benefits a product delivers, the better. Makes sense, right?

However, not all benefits are created equal.

In considering multiple benefits, think about the role each might play in a broader portfolio. That’s what winning marketers do.

Where to start? Easy…follow along below to learn the three specific types of benefits and their corresponding roles.

Begin With Ante Benefits

Ante benefits include the most essential benefits a brand, product, or service offers. These are “table stakes” that need to be delivered:

• Fast food needs to be fast.
• A convenience store should be convenient.
• Insurance companies should protect things.
• Prescription medications need to work.

Once ante benefits are delivered, you can layer on other benefits to broaden the value.

Driver Benefits Offer Distinction

Driver benefits provide distinctiveness. Meaning, benefits extend beyond antes to drive differentiation and purchase.

• After delivering speedy service, a fast-food company might emphasize a fresher product.
• A financial services company might layer on personal relationship services.
• A prescription drug manufacturer might offer an extended-release form in an easy to take capsule.

Reassurance Benefits: Think Emotional Connection

Reassurance benefits provide an emotional connection with the brand. These benefits are often best communicated implicitly rather than explicitly.

Simply telling a customer to feel a certain way because they’re using your brand can be off-putting. Think about how it would make you feel…

Instead, consider delivering reassurance benefits through product quality cues and communication tone and manner.

Real-Life Examples of Customer Benefits by Industry

In the Financial Services industry:

• Ante: Trust
• Driver: Personal attention
• Reassurance: “Take control of your life.”

In the Pharmaceutical industry:

• Ante: Efficacy
• Driver: Extended release
• Reassurance: “Feel well again…”

In the Luxury Automobile industry:

• Ante: Well-Built
• Driver: Infotainment
• Reassurance: “This is your status symbol.”

Each benefit can play a role on its own, or can combine with other value elements to create a broader proposition. The overall goal is to maximize the value through the most-desired combination of value elements.

Using benefits classifications, you can then begin to develop value propositions that will create a brand that both delivers on customer needs and aligns with company operations – a win-win.

If you’re interested in exploring these concepts in greater depth, we are pleased to offer a FREE download of the second chapter in our best-selling book, Upstream Marketing. Access your chapter here.