What is a feature advantage and benefits analysis?
Definition of a Feature Advantage and Benefits Analysis
The FAB product development model examines a product’s features, advantages, benefits, and interaction with other products. It is typically utilized to establish a market differentiator for a product. It is a valuable method to get to the core of what sells the product. The definition of features is simple because we will see or use them, but determining how they convert into an eventual benefit for the user might be more complex. But, it is vital to recognize the benefits that customers get hold of when you consider that the benefits — now not the features — pressure the consumer in purchasing selections at the end of the day.
Now let’s go a little further to see what the difference is:
Features: They’re one of the simpler things to spot. They elaborate on the characteristics of your business, products & services.
Advantages: What the features accomplish is what the benefits are. These are just factual statements rather than focusing on potential customers’ wants or needs.
Benefits: Defining what the advantage is worth is the purpose of benefits. It establishes a link between the specifics of your product and a solution for your customer.
What Is The Purpose Of Feature Advantage and Benefits Analysis?
Data-driven feature prioritizing relies on having a clear picture of the advantages and benefits that a user receives from a particular feature. In other words, rather than the feature itself, what drives sales is the value that customers derive from it.
How To Use Feature Advantage And Benefits Analysis For Marketing & Sales Messaging
Determining how your customer will benefit from your product or service might be difficult. It is easier to explain the product’s features to a potential buyer. Size, weight, color, and mileage are all examples of attributes. When it comes to purchasing a product or service, customers are more concerned with the rewards of using it or with the potential benefits.
The FAB Model makes it easier to listen to your customers. After identifying features, advantages & benefits, the next step is to create concise marketing and sales messaging based on the information you’ve gathered about your numerous features, advantages, and benefits. The FAB Statements exercise can help you better connect with your potential customers. Increasingly more business for you, of course!
Firstly compile a list of your product features. These can be technical properties or physical features as well. You can add the advantages and benefits of the product later. Secondly, you can go back to the feature list & add one or two advantages of each. Thirdly, develop a benefits statement from the point of view of prospective clients.
Finally, here’s what you need to do to finish crafting the definitive collection of marketing messages: The FAB Statements should be on the outside. As an alternative to saying “feature” first, say “benefit.” Then, describe how you plan on achieving that goal.
Think of it like this: If you have a lot of similar photos, it will automatically keep the clearest one. On average, your photo storage space is cut by 80 percent. In the end, a potential customer will opt to use a product because of this benefit. As a hook point, you can use this key benefit to help the consumer imagine the beautiful experiences they will have from acquiring your product if they so desire. To appreciate your brighter memories for longer, don’t waste your time editing and save as many of your best photographs possible.’
In this case, our sample FAB statement will look like this:
The developer says, “We are a photo storage app that automatically edits, picks, and stores pictures. You may save an average of 80% of your photo storage space by only keeping the best picture from a group and deleting the rest. Remembering happy times will be easier when you don’t waste time editing and saving more of your favorite photos!”