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Did you know: people only buy a product for 10-20% of it

written by sales-i Marketing Team

sales-i 29081 2018-12-21 1440960
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It’s sad but true.

Every product or service has a purpose, otherwise it wouldn’t be viable in the market. Usually, this follows the ‘I have a challenge that I need to solve’ matter. For example, I have raw food that needs to be cooked, so I buy an oven.

Simple, right?

Not always. Products are becoming more complex through integrations and the need to maximize their appeal in the market. Think about your television, 15 years ago people bought one to watch their favorite programme such as The Sopranos or Friends (other TV shows are available!). Fast forward to the present and a television can be a device to stream your computer’s media, access the Internet, integrate with your home’s sound system and much more.

Not all these features are used by everyone, but the television will have a mass appeal because it can do all these things.

The result, a product where a person only uses around 20% of its capabilities.

This is true for most products and services, whether it’s computer software, motor vehicles, a gym membership or your mobile phone.

So, how can you add value to your product knowing your customer will only use 20% of it?

  1. Segment your audience

Just because one customer uses your product in a certain way, doesn’t mean the next will. When you market your product, ensure that you are communicating the right feature and benefit to the right person. Would a 70-year-old needing to make phone calls really care that their phone has Snapchat preinstalled? Probably not.

  1. Stay true to the core offering of your product

Your product is renowned for delivering its main feature and you should always keep that in mind. For example, a car may have heated seats, four doors, and satellite navigation, but its core value is transportation – getting you from A to B. Think about how your product is the best at transporting someone from one place to another.

  1. Integrate the other features to drive engagement

If your product has multiple capabilities, ensure that these are complementary to each other. For example, a pencil may have a rubber end to resolve errors. This may be the unique offering that drives more purchases because you’re added value or at least perceived value to the customer.

The accessibility of product information has never been higher. For almost every product you can research and compare it against its competitors online. Consumers may choose products and services with the most features and this could be the main consideration to choose one over another – even if they know they’ll never use the additional features. Usually, the feature isn’t important to them, it’s the feeling of getting more for their money and simple bragging rights over its competitor.

So, with this in mind, it’s no wonder that products today aren’t being fully utilized by their users, but at the same time, having a wide range of capability is vital to ensuring your product is successful.

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