Find your most compelling story with the Benefit-Of-The-Benefit Exercise
What can you say that will stop people in their tracks? What story could you tell that would cause a heart to beat a little faster? Or maybe cause goosebumps to rise?
We all look for those ideas that have this power.
Organizations that clarify their purpose have a natural advantage here because these types of stories flow naturally from their purpose statement and rallying cry.
While there is no replacement for going through this process, there is a way to get a sense of how much more powerful your stories could be by going through an exercise I use.
The Benefit-Of-The-Benefit Exercise
The value of the Benefit-Of-The-Benefit Exercise is its ability to help you see beyond the features of your offering to help you make your story more compelling to those you hope to serve. Let's look at the three parts of the exercise.
1. Describe what your offering is
Most find this fairly easy. In fact, you probably already do this regularly. Document the name of your offering. Then detail the key features that make your offering special. Now take a moment and review what you have written. My guess is that you'll notice that it sounds like you talking about you. That's okay (if you don't stop here). It gives us something to build on.
Here is an example from a life insurance start-up.
We have an advanced online system that people can use to choose their coverage.
Our system works on the computer or phone.
We have knowledgeable consultants available that you can connect with by phone, chat, or email.
Once you're a customer, we deliver regular tips, life-hacks, and advice that are specific to your situation.
2. Describe what it is that your offering does
What do all your features lead to? Does it make someone's life easier? Maybe it reduces anxiety. Look at your list of features and see if you can find the benefit of each. You may notice that you still talk about you a bit, but the majority of the language shifts to what you do for your constituents. In other words, you start to speak about the benefits that they will experience.
Here is how that sounds for the insurance offering example:
We take the hassle and confusion out of selecting the right coverage for you. And while most insurance companies disappear from your life after you buy coverage, we're different. We keep you connected to know-how that can help you take on life's challenges and even show you ways to lower what you pay for your coverage.
3. Describe what your offering does for those you hope to serve
Look at the benefit you came up with for each feature. Then ask:
Why is this important to those we hope to serve?
What will this allow them to do?
We are looking for the deeper impact that your offering can have in a life. Often this exercise makes us feel a bit uncomfortable. We worry that our offering isn't all that significant or that we're overpromising. Push past this feeling for the sake of the exercise and find the benefit of the benefit.
Here's how the benefit of the benefit comes to life in the insurance offering example.
Life insurance shouldn't be something you think about because you worry about what might happen. It's there to free you to imagine what could happen. Because there is a journey ahead of you full of incredible possibilities. And you deserve the confidence to explore this adventure. The adventure called life.
In the life insurance example, we started talking about the company's technology, service, and more. That evolved to talking about what those things could do for a person (the benefits) – which was more powerful. But the story couldn't reach its full potential until we started talking about what all those benefits could lead to (the benefit of the benefit). We talked about what people really want. We talked about their aspirations. When you can connect your brand to that, you create something that lifts you above all the noise in the market. You create something with a meaningful connection to those you hope to serve. You create a story that is more compelling than any story you have told before.