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Value for Your Customer

A business must focus on the value it can give it´s customers because the customers keep the business alive.

What benefits do the customers get from buying your product or service? As customers have to spend money on your service or product it is important to analyse which motives they have for doing so.

If you do not know these benefits it becomes difficult for you to develop and sell the service or product to the customer.

Customer benefits are not just facts

Usually it is hard for an entrepreneur to envision what kind of customer demand is satisfied by purchasing his/her service or product.
The entrepreneur would rather let the customer know about the product’s properties.

This means facts on the product/informative labeling like how long and wide, the weight or how many MHz the computer delivers.

Soft customer benefit

However, a customer only focuses on the benefits and output to be gained from a given service or product.

Benefits group into several categories – they could be:

• Saving time
• Saving money
• Easy access
• Less transport
• Increased sales
• A more distinguished appearance
• Being acknowledged and recognised
• Moving into nice surroundings
• Getting your competitors where you want them

What benefits and outputs will your product give the customer?

FAB model

The FAB model can help you listen to your customer and experience what they really are looking for. The model will help you look at your service or product from three angles:

1. Features – facts about the product/product label
2. Advantages – what are the advantages to the customer of using your product or service?
3. Benefits – what personal benefits does the customer get from the purchase?

By asking questions to your customers, you can find out which advantages and which benefits are important for individual customers.

- The FAB model and examples

No one ever achieved success by planning for gold.
- Guy Kawasaki, Chief evangelist of Canva