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Meny Hoffman

Selling Features vs. Selling Benefits: The Big Difference

By Meny Hoffman // Marketing // 5 min read

I had the privilege of speaking to a group of retail business owners last month. We discussed a variety of different topics and I explained how it could help them make their businesses more profitable. One of the more interesting points of the evening was very well received and I felt it was worth sharing.

It’s something that you’ll benefit from, even if you’re not a retailer. So I’ve decided to email you the basic details and hope you’ll make use of it in both life and business.

I began my talk by asking the audience this simple question: “We all know what selling is. But do you know the difference between selling features and selling benefits?”

There were a few good answers called out by the attendees, but none were entirely accurate. So here is what I told them.

People, by nature, are always asking themselves: “What’s in it for me?” Whether it’s a potential customer, a boss, a child, or a friend you are interacting with – they’ve often got their own interests in mind. No matter what you’re trying to get them to agree to, they may resist your advances. So you’ve got to make a little sales pitch of sorts. You can choose to sell them on the features or you can choose to sell them on the benefits.

Here’s the critical difference.

Planning Ahead & Thinking Big: The Bill Gates Technique

By Meny Hoffman // Business, Leadership, Let's Talk Business // 5 min read

I spent this past week in Arizona – and it wasn’t for vacation or relaxation purposes. Rather, it was to take part in a special mastermind group.

People flew in from across the USA to attend. The group seemed to be made of entrepreneurs of all ages… and in similar growth stages of business. We sat together in a big room and got right to work. Everybody spent hours learning, analyzing, discussing and strategizing how to go about advancing their business goals and career objectives.

Perhaps you think that leaving the office for nearly an entire week might be a little bit too intense. “Was the whole trip really necessary?” you may be asking yourself. To say it was productive would be an understatement. Truthfully, it baffles me as to why every single businessperson in today’s marketplace doesn’t spend just one week out of a whole a year attending a mastermind group to focus on planning ahead.

Of course, when I talk about planning ahead, I don’t only mean technical things like crunching numbers or crafting contingency plans.

I’m talking about thinking big.

Let’s Stop the Negativity!

By Meny Hoffman // Productivity // 5 min read

I like posting inspirational quotes on my twitter feed. These quotes often give me a quick boost of enthusiasm and I enjoy passing along that feeling to others.

So it should come as no surprise that I recently posted the following line: “Far too many people have no idea what they can do, because all they’ve been told is what they can’t do.”

It did come as a surprise to me, though, when a prominent media publication reposted the above quote. While I was pleasantly amazed, I was also slightly perplexed. Why would they feel the need to repost a quote from Meny Hoffman? But after thinking about it for a few moments, the answer became obvious.

Generating Warm Leads With The Ice Bucket Challenge

By Meny Hoffman // Creativity, Marketing // 5 min read

Would you enjoy having an ice cold bucket of water dumped over your head? Apparently, there are thousands of people out there who actually do. Or so it seems based on the many viral videos circulating of people dumping water on each other in support of something called the Ice Bucket Challenge.

Conceived by the ALS Association – an organization dedicated to the research of Lou Gehrig’s disease – this inimitable challenge requires participants to have a bucket of ice water poured on their head or donate money to the cause. Those participating can nominate others and post a video online showing how they joined the movement.

Although you may be very familiar with the Ice Bucket Challenge and have already laughed your way through dozens of clips showing people getting drenched in all sorts of hilarious ways – from former president George W. Bush and Mitt Romney to celebrities, camps and sports teams, you may not be as aware of the serious debate this campaign has caused in the world of marketing.

Articles in The New York Times, Fox News, Yahoo, and dozens of other media outlets are all dissecting the outcome of this seemingly successful campaign to establish if it indeed was a winner.

Let’s have a look at the hard facts.

Be The Unexpected One

By Meny Hoffman // Marketing // 5 min read

The month of July has proven to be a very busy on for all of us here at Ptex Group.

After weeks of intense planning and exhausting coordination, we successfully pulled off an amazing LTB 2014 mega-event. Hundreds of community business owners and entrepreneurs walked away inspired, ready to put the wealth of knowledge dispensed at this conference to good use. (You can check out the live LTB blog to get a real-time feel of what happened during the event.)

The very day after LTB 2014 ended, my wife gave birth to a beautiful baby girl. Needless to say, I was overjoyed and thankful. Did I mention exhausted? I spent the next few days juggling my hours between work and enjoying the newest family addition – and I learned an extremely valuable marketing lesson in the process.

One morning while working at the dining room table, there was a knock at the door. It was from a man holding a beautiful breakfast platter. I automatically assumed it was being delivered from a family member or close friend. After all, a number of baby gifts had already been brought over by relatives and who else would be bringing my wife a fancy basket with breakfast inside?

A quick look at the attached card revealed who it was from: the local grocery store.