Don’t (just) Talk About Features With Customers

Hey there SaaS Heads! Today we’re going to talk about Feature/Benefit/Value statements and why they’re so important from a Customer Success perspective, or really ANY interaction with customers, whether they be sales or marketing related too. So grab a cup of coffee, catch your breath, and let’s dive in!

First things first, let’s break down what a Feature/Benefit/Value statement actually is. Essentially, it’s a way of communicating the features of your product or service, the benefits those features provide, and the overall value your customer will receive from using your product or service.

Now, you might be thinking, “Why do I need to bother with all this BS? Can’t I just tell my customers what my product does?” Well, here’s the thing: If you’re only talking about features, a prospective customer or trial user may not buy your product if it doesn’t have ALL the features they want. Besides, your customers don’t want features, they want the benefits and values those features provide to their business and to them personally. You’re in the business of solutions, not features.

That’s where the Feature/Benefit/Value statement comes in. By focusing on solutions, benefits and value your product provides, you’re showing your customer you understand their problems and priorities, and how your product puts those first. And that’s what Customer Success is ALL ABOUT!

Let’s break down each part of the Feature/Benefit/Value statement a little more:

Don’t rush discussing new features without a good idea of their corresponding Benefits and Values!

• Features: This is the basic description of what your product or service does. For example, if you’re selling a project management tool, one of the features might be “A single unified place to review and collaborate on tasks with team members.” Hopefully, you are showcasing features that are differentiated from your competition. Try not to waste your time talking about table stakes.

Benefits begin the journey of getting to the customer’s needs!

• Benefits: This is where you start to show your customer what they can get out of a feature. So, for the project management tool, a benefit of “A single unified place to review and collaborate on tasks with team members” might be that it “helps keep everyone on the same page and ensures that tasks are completed on time.”
• When constructing basic FBV statements, state your feature, and add “So that the customer/user can…” before stating the benefit.
• In this case Feature + “So that a customer can” + Benefit = “A single unified place to review and collaborate on tasks with team members so that the customer can keep everyone on the same page and ensures that tasks are completed on time”

Value is the Holy Grail of Customer Success, and of growing customer relationships.

• Value: This is where you tie it all together and show your customer the overall value they’ll receive from using your product, or “What’s really in this for me, and my business?”.
• For the project management tool, the value might be that it “helps teams work more efficiently and complete projects faster, ultimately leading to increased revenue and a better bottom line.”
• Value is often associated with “Because of this” in a FBV Statement. In this case, Because of this+ Feature + “So that the customer/user can” + Value = Our product provides a single unified place to review and collaborate on tasks with team members, so that the customer can keep everyone on the same page and ensures that tasks are completed on time. Because of this, it helps the customer’s teams work more efficiently and complete projects faster, ultimately leading to increased revenue and a better bottom line.
• Simplified this will look something like this:
  Our product provides a single unified place to review and collaborate on tasks with team members, keeping everyone on the same page and ensuring that tasks are completed on time, allowing our users to work more efficiently and complete projects faster, ultimately leading to increased revenue and a better bottom line for the company.

FBV Statements are helpful across all industries

FBV statements need not only apply to only SaaS though. Let’s consider an example of an EV sedan. The features of an electric car may include its battery range, charging time, and advanced technology features. However, these features alone may not hold much meaning for a potential customer.

Instead, let’s explore the benefits and value that these features provide. For instance, a longer battery range can provide the driver with more flexibility and fewer worries about running out of charge during their trip. A faster charging time can save time and make the car more convenient to use. Advanced technology features, such as regenerative braking and energy-efficient systems, can reduce energy consumption and save the driver money over time.

Combining these factors,Feature/Benefit/Values for an electric car might look something like this:

Features: 250-mile battery range, fast charging time, regenerative braking, energy-efficient systems

Benefits: Greater driving flexibility, time-saving charging, reduced energy consumption

Value: More convenient and enjoyable driving experience, cost savings, and reduced environmental impact.

Can you make an FBV statement with these building blocks?

FBV statements need not just apply to technology either! Take one more example from the food industry. Say you’re selling a line of vegan snacks. The features of your product might include plant-based ingredients, non-GMO certification, and gluten-free options. But again, those features don’t necessarily mean anything to a customer on their own.

So, let’s look at some benefits and value that those features provide. For example, the plant-based ingredients can offer a healthier snack option for those looking to reduce their meat consumption. Non-GMO certification can provide reassurance that the snacks are made with high-quality ingredients. And gluten-free options can make the snacks accessible to a wider audience with dietary restrictions.

Putting it all together, a Feature/Benefit/Value breakdown for vegan snacks might look something like this:

• Features: Plant-based ingredients, non-GMO certification, gluten-free options
• Benefits: Healthier snack option, high-quality ingredients, accessible to dietary restrictions
• Value: Improved health and wellness, peace of mind in ingredient quality, and greater inclusivity

See how it all comes together? By focusing on the benefits and value your product provides, you’re not just selling a tool or service — you’re selling a solution to your customer’s problems.

So, next time you’re demonstrating your product or just giving an elevator pitch, remember you are providing solutions to real problems, not features. Never mention a feature without its corresponding Benefits and Values!