When it comes to the benefits your buyers can achieve from implementing your solutions, there are three different types of benefits to consider: Business Benefits, Organizational Benefits, and Personal Benefits. Each type of benefit plays a crucial role in the buyer’s decision-making process, and it’s essential to connect and message these benefits to maximize the outcomes and return on investment.
Business benefits are the most tangible and direct benefits that buyers can expect to receive from purchasing your solution. These benefits are directly related to either expanding the top line or improving the bottom line. Business benefits include:
- Reduced Costs: helping your buyer to reduce their organization’s business expenses, eliminate spending or avoid planned and required expenditures.
- Improved Productivity and Processes: helping your customer to streamline processes, reduce the time it takes to complete different tasks, and reduce labor costs.
- Reduced Risks: helping the customer organization to be more resilient in reducing and avoiding business risk related to compliance and regulations, employee turnover, leakage and theft, security, and disaster.
- Improved Growth: helping your buyer’s organization to drive top-line expansion, including opening new markets, launching new solutions more quickly, improving sales, driving competitive win rates, increasing customer lifetime value, and capturing new business opportunities.
Organizational benefits refer to the benefits that the buyer’s organization can reap from stronger connections with internal teams and the business ecosystem. These benefits include:
- Improved Team Engagement: Driving improved communication, better collaboration, and increased visibility into business processes for all team members (employees and contractors), creating better employee engagement, better retention, and a more cohesive and efficient work environment.
- Better Business Partner Relationships: Improving relationships with integration, reseller, and service business partners, helping to grow partner communication, collaboration, community, improve new partner recruiting, reduce attrition, improve reach, market share, and competitive advantage, and drive program and resultant revenue growth.
- Boosted Social Influence: Improving relationships with social influencers and presence on social.
- Enhanced Customer Community: Improving the customer experience and driving customer engagement, involvement, testimonials, and most importantly, peer practice sharing, collaboration and advocacy.
As well, buyers expect to receive personal benefits from investing in your proposed business solution. These benefits include:
- Increased Job Satisfaction and Engagement – with the challenges of “quiet quitting”, wage inflation and staffing constraints, it’s more important than ever to get the most out of each team member. These benefits relate to improving the level of buyer and peer job satisfaction and improved work-life balance.
- Recognition and Awards – helping your buyer to achieve public recognition and formal awards internally or from peer and industry organizations.
- Raises and Bonuses – helping the buyer and their team to elevate their base pay and earn incentives and bonuses.
- Career Advancement Opportunities – helping the buyer to achieve promotions and growth on their career path.
When investing in your business solution, buyers can expect to receive benefits, which are typically grouped into three different types: business benefits, organizational benefits, and personal benefits. Assuring that you have each of these covered as you engage, sell and deliver to your buyer will help assure faster, low regret purchase decisions, higher win rates and better customer outcomes.
By understanding these three benefit types and articulating them clearly to prospects and customers as a part of your inspired value storytelling, you can market and sell more effectively, help your buyers make better purchase and investment decisions, and maximize the outcomes, return on investment (ROI), and personal positive impacts for your customers.