There’s an old saying in business development and marketing — “features tell but benefits sell.” In other words, your bank or credit union will do a better job cross-selling products and services if your employees focus more on the benefits consumers will realize by using them and less on the nuts and bolts of the product or service itself.
A terrific case in point — introducing the Little Griddle. We are heading into the warmer time of the year and like many suburban dads, I’m grilling outside more. A few days ago, I came across the Little Griddle at a big box membership store and decided to give it a try on my grill. I’ve been impressed by how easy it is to cook with and clean. Just this past weekend, I did bacon and eggs, hashbrowns and pancakes for my kids — all outside on our grill using the Little Griddle.
This isn’t a plug for the Little Griddle. Rather, it’s a cautionary tale for banks and credit unions to try to promote product and service dreams over specific features. Take a moment to look at the following video from Little Griddle.
Did you hear them talk a lot about its construction? Its metallurgy? Its history? No. Instead of boring you with these details, they went for the emotional appeal. They sold you the dream. In this case, it was the dream of a parent cooking outside, facilitating invaluable family time all because of a little hunk of stainless steel.continue reading »