By now, most business executives have heard of the “WIIFM” factor. If not, let’s specify that WIIFM is not a radio station; it’s a shortcut for “What’s in it for me” – the secret to all successful marketing.
When a new technology comes out, people aren’t as interested in hearing about the speed, design or internal workings of the product as they are about what it can do for them – how they can use it and how it will make their lives better, easier, or more efficient.
However, too often product marketers forget this, focusing on their product’s features rather than the buyers – their audience – and how it may fulfill their needs. That’s a formula for failure.
It’s that way with all selling. Whether selling a product or service, it’s essential to consider the audience and how that product or service will benefit them.
Sales professionals know this. They usually spend a considerable amount of time profiling their audience to gauge what their needs are before they launch into a sales pitch. That way they have a better chance of having an attentive audience.
Keeping the WIIFM factor in mind, here are some guidelines for a more successful sales presentation:
- Do some background research. Find out as much as you can about the person or company who will be the audience for your presentation, to determine their interests and needs.
- Concentrate on your audience. At your first meeting, ask some questions to see what their current goals are and what challenges they face in achieving them.
- Present your elevator message. Give a very brief introduction to your company and your product or service.
- Present the benefits of buying from you. Using what you have learned from your research and conversation, present clearly and concisely the benefits of your product or service to your audience and how it can address their particular needs.
Of course, using the WIIFM factor does not guarantee success, but it can go a long way toward achieving it.
Posted by Margot Dimond